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Team Internet Group looks to AI initiatives to drive digital marketing solutions

Last updated: 07:52 19 Mar 2024 GMT, First published: 15:49 01 Mar 2021 GMT

Snapshot

  • Team Internet Group swoops for online advertising specialist in $41m deal
  • Team Internet has plenty of upside suggests broker
  • Team Internet celebrates milestone year with strong 2023 financial performance; doubles dividend
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About the company

Team Internet Group is a global internet solutions group headquartered in London.

Leveraging its world-class technologies and industry leading teams, the company is transforming the way businesses, brands, publishers and consumers connect online.

The company operates in two cutting-edge markets: high-growth digital advertising (Online Marketing segment) and domain name management solutions (Online Presence segment).

How it is doing

19 Mar 2024

Team Internet Group (AIM:TIG) PLC said it is acquiring online advertising specialist Shinez I.O. for an enterprise value of $41.8 million. 

The deal will diversify the UK-listed web services specialist's portfolio by adding Shinez's expertise in creating and promoting engaging content across social media, search engines, and native networks.

It is known for its forty popular portals such as ourfashiontrends.com and travelerdreams.com and its 'story-telling' platform. 

Team Internet will pay an initial four times EBITDA with a further 'contingent' $12.3 million hand over based on performance. The deal will be paid for from cash resources and the company's credit facility.

18 Mar 2024

Team Internet Group (AIM:TIG) declared a doubling of its final dividend as profit increased almost twofold in the last financial year.

The internet services company proposed a final payout of 2p, up from 1p a year ago, as it continues to pursue the progressive dividend policy launched two years ago.

29 Jan 2024

Team Internet Group (AIM:TIG) PLC reported a record-breaking performance for the financial year 2023 in a Monday full-year trading update.

The global internet company revealed gross revenues of approximately US$835 million, net revenues of US$190 million and an adjusted EBITDA of US$96 million, representing year-on-year increases of around 15%, 7% and 12% respectively.

What the brokers say

13 Nov 2023

Team Internet (formally CentralNic) has had its target price adjusted to  180p by Berenberg, which notes that implies 45% upside from the current share price.

A trading update this morning said the outlook for the current year is “at least” in line with expectations: The current consensus range is US$783m-834m (the mid-point is $808.5m) for gross revenue and $91m-98m for adjusted EBITDA (the mid-point is $94.5m).

Team Internet’s cash-generative model enables it to invest in organic initiatives, as well as return cash to shareholders via its relatively newly announced dividend (US$3.6m) and share buyback programme (US$30.2m), said the broker.

What management says

19 Mar 2024

Team Internet Group (AIM:TIG) chief financial officer Billy Green highlights the company's significant achievements in 2023, marking it as a milestone year.

Green told Proactive's Stephen Gunnion the firm reported strong growth in revenue and profit across all metrics, with an operating profit of £42.3 million, a 26% increase over 2022. Notably, Team Internet achieved a profit after tax of £24.3 million, a remarkable turnaround from a £2.1 million loss the previous year. This success reflects the company's long-term strategy to deliver real bottom-line profitability and shareholder value.

Factors driving this performance include effective partnerships in the ad tech ecosystem, leveraging industry trends, and a commitment to quality in their online presence segment, leading to profitability exceeding industry standards.

Team Internet celebrates milestone year with strong 2023 financial...

Team Internet Group (AIM:TIG) chief financial officer Billy Green highlights the company's significant achievements in 2023, marking it as a milestone year. Green told Proactive's Stephen Gunnion the firm reported strong growth in revenue and profit across all metrics, with an operating...

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