CentralNic Group PLC (AIM:CNIC), a global internet company facilitating informed online consumer choices, has said it expects to report gross revenue of at least US$396mln (£308mln) when the AIM-quoted group releases its audited interims on August 14.
This marks a solid 18% year-on-year gross revenue growth.
Per today’s trading update, gross profit is expected to come in at US$91mln with underlying earnings (EBITDA) of at least US$44mln, representing increases of 11% and 15% respectively.
Year-on-year organic growth for the trailing twelve months ended June 2023 is expected to be around 31%.
CentralNic's cash position stood at US$83mln as of June 30, down from US$95mln on December 31, 2022.
Net debt at the end of June 2023 was US$68mln, compared to US$57mln at the end of 2022.
This shift in cash and debt is attributed to non-operating cash outflows related to the company's own share acquisitions, its maiden dividend, and a non-recurring settlement of deferred contingent consideration.
CentralNic's substantial share buyback program, launched earlier this month, is being financed through strong operating cash generation.
Up to the mentioned date, the company has repurchased 5.7 million shares, amounting to £6.7mln.
Additionally, the Employee Benefit Trust has made its own share purchases. There remains an available budget of over £27mln for the remainder of the program.
Considering the robust performance, the directors of CentralNic Group are confident that the company will continue to trade at least in line with the current market expectations for the full year.
Investors and stakeholders can look forward to more detailed insights when the company publishes its unaudited Interim report for the six months ending 30 June 2023 on Monday, 14 August 2023.
"CentralNic has continued to deliver yet another strong quarterly performance, said the company's chief executive Michael Riedl.
“Furthermore," he added, "we have enhanced our market share in each of the segments in which we operate.
“Our sustained performance is a testament to our strong ingrained culture of operational excellence, a factor that keeps us at the fulcrum of the industry ecosystems in which we operate.
“Through our ongoing initiatives to boost operating leverage, we are fortifying an already highly dependable and sustainable business model. Our unrelenting commitment to these efforts continues to build upon our prime objectives of creating a market leader in its space and maximising shareholder value."