CentralNic Group PLC (AIM:CNIC) said its gross revenues came in at US$194.9mln (£157mln) for its first quarter, while adjusted EBITDA was US$21.3mln, representing 24% and 15% gains respectively, marking the best first-quarter result for the AIM-listed group.
Year-on-year organic growth for the trailing twelve months ending March 31, 2023, is estimated at approximately 45% when the audited figures are released on May 15, the company said.
Cash increased to US$102.9 by the end of the quarter, up from US$95mln in the previous quarter, reducing net debt to £49.2mln, taking into account the impact of the company returning US$4.3mln to shareholders via the share buyback scheme.
CentralNic said its directors remain confident that the group will continue to trade at least in line with current market expectations.
In a major highlight in the quarter, the group renewed its partnership with Microsoft Bing to leverage CentralNIC’s existing AI capabilities with ChatGPT.
In the trading update, CentralNic chief executive Michael Riedl commented: "I am thrilled to announce that CentralNic has had an outstanding start to the year, achieving our best-ever first quarter. Our continued industry leadership and reputation for excellence have enabled us to secure key partnerships with some of the world's leading technology companies, including Microsoft.”
Shareholders will today vote on the group’s inaugural dividend, marking “a significant milestone in our commitment to enhance shareholder value through a progressive dividend policy and continued share buybacks”, said Riedl.
In a separate statement, CentralNic announced the appointment to its board of Marie Holive as an independent non-executive director effective immediately following today's annual general meeting (AGM).
Hiolve, who has significant experience in global media markets as both an executive and non-executive director, will be chair of the company's audit committee and a member of the remuneration committee.
Michael Riedl commented: "I am delighted to announce that Marie Holive joins our board. It is a testament to CentralNic's ability to attract top talent. Her extensive experience in global media markets and executive leadership will be a valuable asset to our company as we continue to grow and innovate."
In addition, CentralNic said Thomas Rickert has said he does not intend to stand for re-election as a director of the company at the AGM. He has been a non-executive director of CentralNic since its IPO in 2013.