Team Internet Group PLC (AIM:TIG, OTCQX:TIGXF) CEO Michael Riedl takes Proactive Stephen Gunnion through the company’s first-half results. Riedl highlighted the continuation of growth in gross revenue, alongside an even faster increase in net revenue, leading to adjusted EBITDA reaching $46.6 million. Additionally, he emphasised the 13% rise in operating profit compared to the first half of 2023 and a 14% increase in adjusted EPS, resulting from a share buyback initiative.
Riedl also discussed the factors contributing to this growth, particularly the strong performance of their German product comparison business and the retail domain business. He noted that the average price per domain name has risen to $11.90, driven by a favourable product mix and the strength of the retail segment. Furthermore, Riedl touched on the expected normalisation of cash conversion to around 100% for the full year, which was slightly impacted in the first half due to technicalities with payment timings.
Finally, Riedl shared insights on the successful integration of Shinez, TONIC, and VGL into a synergistic platform, highlighting the reciprocal synergies these businesses are creating across different stages of the conversion funnel.