CentralNic has delivered a solid set of FY18 results this morning that are 3.8% ahead of our forecasts and up 66% YoY at the adj. EBITDA level (excluding the one off domain name sales business discontinued in 2017). This has been a transformative year for the group following a number of acquisitions including KeyDrive which effectively doubled the size of the group and significantly improved earnings quality. Recurring revenues are now at 90% and cash conversion in 2018A approaching 100%, hig
13 May 2019
FY18 ahead of expectations
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FY18 ahead of expectations
Team Internet Group plc (TIG:LON) | 140 0.8 0.4% | Mkt Cap: 362.7m
- Published:
13 May 2019 -
Author:
Bob Liao, CFA -
Pages:
12
CentralNic has delivered a solid set of FY18 results this morning that are 3.8% ahead of our forecasts and up 66% YoY at the adj. EBITDA level (excluding the one off domain name sales business discontinued in 2017). This has been a transformative year for the group following a number of acquisitions including KeyDrive which effectively doubled the size of the group and significantly improved earnings quality. Recurring revenues are now at 90% and cash conversion in 2018A approaching 100%, hig