CentralNic issued another positive trading update, leading us to upgrade Adjusted EBITDA again, this time by 4% in both 2022 and 2023. The company continues to grow rapidly (60% organic revenue growth) and margins continue to expand, demonstrating resilience to a slowing economy and online marketing sector. We conservatively raise our 2023 forecasts due solely to base effects, leaving revenue growth at only 6%. As a result, we see the potential for CentralNic’s upgrade cycle to continue into 202 ....
30 Jan 2023
CentralNic (CNIC LN) - Strong, resilient growth
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CentralNic (CNIC LN) - Strong, resilient growth
Team Internet Group plc (TIG:LON) | 140 0.8 0.4% | Mkt Cap: 362.7m
- Published:
30 Jan 2023 -
Author:
Bob Liao, CFA -
Pages:
11
CentralNic issued another positive trading update, leading us to upgrade Adjusted EBITDA again, this time by 4% in both 2022 and 2023. The company continues to grow rapidly (60% organic revenue growth) and margins continue to expand, demonstrating resilience to a slowing economy and online marketing sector. We conservatively raise our 2023 forecasts due solely to base effects, leaving revenue growth at only 6%. As a result, we see the potential for CentralNic’s upgrade cycle to continue into 202 ....