Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on CENTRALNIC GROUP PLC. We currently have 15 research reports from 2 professional analysts.
|24Mar17 07:00||RNS||Response to Recent Speculation|
|07Mar17 07:00||RNS||Trading and Strategic Update|
|14Feb17 14:27||RNS||TR-1: Notification of Major Interest in Shares|
|21Dec16 10:10||RNS||TR-1: Notification of Major Interest in Shares|
|15Dec16 08:48||RNS||TR-1: Notification of Major Interest in Shares|
|14Dec16 07:06||RNS||Premium Domain Name Sale and Trading Update|
|07Dec16 07:00||RNS||Chinese Government approves .XYZ|
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Research reports on
CENTRALNIC GROUP PLC
CENTRALNIC GROUP PLC
Small Cap Breakfast
24 Mar 17
Eddie Stobart Logistics—Intention to float on AIM. Intends to float in April. 49% held by Stobart Group (STOB.L) K3 Capital Group—Schedule 1 from the Group of business and company sales specialists across business transfer, business brokerage and corporate finance. Admission date and fundraise details TBC. Integumen— Schedule 1 from the personal health company developing and commercialising technology and products for the human integumentary system. Raising £2.16m at 5p. Expected market cap £8.16m. Admission expected 5 April. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march. Tufton Oceanic Assets- The Company intends to invest in a diversified portfolio of second hand commercial sea-going vessels where the Investment Manager believes that an attractive opportunity exists in shipping. $150m raise. Admission 3 April.
Trading update: FY16 in line, continuing to execute on growth strategy
07 Mar 17
CentralNic has provided a trading update confirming that trading for the year to December 2016 was in line with market expectations. Revenue increased by over 110% to £22.1m (Zeus £22.3m), with recurring/subscription revenues increasing to c.80% of overall revenues, from 67% in FY15. Adj. EBITDA increased by over 65% to £5.5m (Zeus £5.7m), while the company ended the year with £7.3m net cash (Zeus £7.0m). Trading so far in the new year is in line with expectations. Management are confident in the outlook as increased renewal revenues are expected in FY17 as the base of domains due to renew or expire has increased to c.10m in the Wholesale business (2016: 3.3m) and c.1.3m in the Retail business (2016: 0.7m). Trading on 5x EV/EBITDA for next year the shares are extremely good value versus the two listed peers GoDaddy and Verisign.
Sale of premium domain name for US$4.5m, pre-close trading update
14 Dec 16
CentralNic has announced that it has sold a premium domain name for a total consideration of US$4.5m in cash, representing its largest premium domain sale to date. The business has also issued a pre-close statement in which it confirms that it expects to finish the year with earnings in line with market expectations. While the business continues to grow recurring revenues in its Wholesale and Retail divisions, new corporate customer acquisition is taking longer than expected in the corporate market segment. Hence we have decided to defer some of the earnings growth in our projections beyond FY17 as outlined below. Despite reducing numbers in FY17, in our view, trading on 5x EV/EBITDA for next year the shares are extremely good value versus the sector. If the shares traded on 9x EV/EBITDA, which is below the sector, the price would be 74p, 58% upside to the current share price.
.XYZ domain one of first to receive accreditation for local hosting in China
07 Dec 16
CentralNic today announces that the .XYZ TLD, for which they act as exclusive distributor, has received official accreditation from the Ministry of Industry and Information Technology (MIIT) in China. What this means is that businesses and individuals in China can now use .XYZ domain names to host their websites locally. CentralNic worked closely with .XYZ to put in place a customised technology platform that has been approved by both ICANN (the global internet regulator) and MIIT, succeeding in securing .XYZ a ranking among the first batch of non-Chinese new gTLDs approved for Chinese citizens. MIIT accredited .XYZ web addresses will be available via Chinese domain registrars from 16th December 2016. The MIIT accreditation was a planned development for the group and is positive news in the context of one of the strategic objectives to increase recurring earnings. We are leaving our forecasts unchanged however we note that the approval opens up significant new opportunities for CentralNic to drive further domain growth within the large Chinese market. The Group continues to evolve at a pace and updated forecasts beyond FY17 will form part of the year-end updates expected in the Spring.
Small Cap Breakfast
07 Dec 16
Creo Medical group—Schedule 1 update.. £20m raise. Expected market cap £61.2m, admission expected 9 December. ECSC—Schedule 1 from provider of cyber security services. Raising £5m. Vendor sale £0.8m. Target date 14 Dec. Expected market cap £15m. RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m
N+1 Singer - IQE - Upgrade cycle set to continue
24 Mar 17
IQE’s FY’16 results showed good growth in all key segments and came in c.4% ahead of our recently upgraded forecasts. We have upgraded our forecasts today by 5% and 3% in FY’17 and FY’18 respectively, but expect the upgrade cycle to continue. The increase in capex in FY’16 looks to us a strong indication of future volume increases, and we see scope for significant upgrades through the course of our forecast horizon. We highlight three opportunities in this note, each of which could materially move the needle in its own right. IQE is one of our key picks for 2017 and has performed strongly YTD (+48%), but we believe there is more to go for. We increase our target price to 76p and retain our Buy recommendation.
Or, helping a juggernaut turn on a dime
24 Mar 17
Sopheon has spent many years evolving a state-of-the-art platform allowing Enterprise customers to manage and monitor their pipelines of innovation. As this market matures and on the back of some major reference client wins, Sopheon’s Accolade product is beginning to see material success on a number of fronts. This note describes the marketplace, the technology, and the progress now being achieved.
Stronger and stronger
23 Mar 17
Sopheon has reported strong prelims in line with the January trading update which had demonstrated that revenue delivery had been achieved on cost underspend, leading to EBITDA (+7% vs FY16E) and adjusted PBT (+22%) outperformance. Strong licence sales, high levels of recurring revenue retention (94% by value), and ever upgrading product portfolio in terms of functionality delivered revenue strength. Gartner recognition illustrates the transition from a product which needed to be described then sold, to a solution set sought by customers to deal with the increasingly acknowledged enterprise problem of efficient product lifecycle management. Sopheon is well positioned for future growth, and board confidence for future growth leads to planned increase in investment, yet still delivering $5.6m ($5.3m pre FX) EBITDA. Having smashed through our FY16 forecasts and target price, we restore FY17 forecasts and lift the 12-month target from 360p to 620p.
Acquisition of Infracast Limited
27 Mar 17
IMImobile have announced the acquisition of Infracast Limited for an initial consideration of £8.2m. Infracast is a leading provider of multi-channel messaging applications and will expand IMImobile’s customer base whilst providing significant cross-selling opportunities. This looks another high quality acquisition. We remain Buyers and increase our T/P to 220p.