17 Oct 2022 07:00
RNS Number : 0181D CentralNic Group PLC 17 October 2022 160This announcement contains insie information for the purposes of Article 7 of the Market Abuse Regulation (EU) 96/2014160as it forms part160of UK omestic law by virtue of the European Union (Withrawal) Act1602018 ("MAR"), an is isclose in accorance with the Company's obligations uner Article 17 of MAR.
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17 October 2022
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CentralNic160Group plc160
("CentralNic" or the "Company", or the "Group")160
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Q3 2022 Traing Upate, Refinancing an Notice of Results
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Continue momentum with 66% organic growth, resulting in upgrae FY22 outlook
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CentralNic160Group plc (AIM: CNIC), the global internet platform company that erives recurring revenues selling online presence an marketing services,160is please to provie an upate for the 9 months ening 30 September 2022. The positive traing momentum previously announce has continue, an the Company's organic growth has further accelerate uring the perio.
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Traing Upate
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The Company expects to report revenue of approximately USD1602 million, Net Revenue of at least USD 127m an Ajuste EBITDA1 of at least USD16061 million for the nine months ening 30 September 2022, an increase of 86%, 49% an 89% respectively. Ajuste EBITDA/Net Revenue ratio improve to 48% as compare to 38% in the same perio last year. Year-on-year organic growth2 for the trailing twelve months ening 30 September 2022 is estimate at c.66%. This outperformance has been riven preominantly by the growth of the Online Marketing Segment, which continues to win market share as a result of the ever-increasing eman for online customer acquisition services that are privacy-safe.
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Cash increase to USD 83m at 30 September 2022 from USD 6m as160at16031 December 2021, reucing Net Debt 3 to c.USD 63m at 30 September 2022 (USD 81m at16031 December 2021), espite the partially ebt finance acquisition of VGL (EUR 21m ebt component) an the recent cash settle acquisition of Aporia (USD 11m), being testament to the strong cash conversion. Ajuste operating cash conversion is estimate at approximately 100%.160
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While the Directors remain cognisant of the current global macro-economic environment, they now have confience that the Group will materially excee the current market expectations for the full year4.
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Refinancing
Post the perio en, CentralNic has entere into a new Senior Facilities Agreement ("SFA") uner which USD 20 million of new ebt facilities will be provie by a synicate of six banks.
The new ebt facilities comprise a USD 10 million term loan ("TL") an a USD 100 million revolving creit facility ("RCF"). The TL will be use in part to refinance the existing EUR 126 million senior secure bons (for which a corresponing bon call notice is expecte to be issue in short orer) an repay rawings uner the Group's existing revolving creit facility.
The TL an RCF have an initial maturity ate of October 2026, with an option to exten by a further year. The borrowing cost of the facilities is etermine by CentralNic's net leverage, such that this will initially be 2.7% above SOFR, a notable reuction compare to the 7% above 3m EURIBOR for the senior secure bon it replaces. The Company intens to enter into an interest swap transaction to fix part of the variable interest component. The settlement of the payments is scheule to be complete by the en of October.160
Ben Crawfor, CEO of160CentralNic, sai: "CentralNic continues to buil momentum in the thir quarter against typical seasonal trens, with year-on-year organic growth now reaching a recor 66%, a further acceleration over the 62% reporte for the twelve-month perio ening 30 June 2022.
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"This continue reliable financial performance has allowe us to refinance at a notably improve interest rate, with a pool of quality lening banks which have the means to provie ongoing support to CentralNic's growth strategy. We look forwar to the future with even greater confience."
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Notice of Results
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The Company160will publish its unauite interim report for the nine months ening 30 September 2022 on Monay, 22 November 2022.160
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There will be a webinar / conference call for equity analysts at 9:30am UK on the ay of results, hoste by CEO Ben Crawfor an CFO Michael160Riel.160 Anyboy wishing to register shoul160contact Isabelle Smurfit at centralnic@secnewgate.co.uk160where further etails will be provie.
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1 Parent, subsiiary an associate earnings before interest, tax, epreciation, amortisation, non-cash charges an non-core operating expenses. Non-core operating expenses inclue items relate primarily to acquisition, integration an other relate costs, which are not incurre as part of the unerlying traing performance of the Group, an which are therefore ajuste for, in line with Group policy.
2 Organic growth is calculate base on trailing twelve-month pro-forma revenue ajuste for acquire revenue, constant currency FX impact an non-recurring an non-cash items (c.USD 682m an c.USD 411m for the trailing twelve months ening 30 September 2022 an 30 September 2021 respectively)
3 Inclues gross cash, interest-bearing ebt, prepai finance costs an Mark-To-Market (MTM) for the bon heges
4 Analyst consensus of revenue an ajuste EBITDA for the financial year ening16031 Dec 2022160as of Sunay, 16 October 2022 is USD 626.6m160an160USD 72.m160respectively
The margin is a function of leverage an con be up to 3.% if Net Debt/EBITDA excees 2. the maximum leverage is 3.0x, subject to conitions
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For further information: 160
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About CentralNic Group plc160
CentralNic (AIM: CNIC) is a Lonon-base AIM-liste company which rives the growth of the global igital economy by eveloping an managing online marketplaces allowing businesses globally to buy subscriptions to omain names for websites an email, monetise their websites, an acquire customers online. It supplements its organic growth by ientifying an acquiring cash-generative businesses in its inustry with annuity revenue streams an exposure to growth markets an migrating them onto the CentralNic software an operating platforms.160
For more information please visit:160www.centralnicgroup.com160
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