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

Last updated: 07:59 18 Mar 2024 GMT, First published: 15:49 01 Mar 2021 GMT

Snapshot

  • Team Internet doubles profits and dividend after 'milestone year'
  • Team Internet has plenty of upside suggests broker
  • CentralNic Group records "best first quarter ever"
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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

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.

Revenue for the calendar year increased 15% to US$836.9 million, higher than previous guidance from its January update.

Underlying profits (EBITDA) increased 12% to US$96.4 million, statutory profit before tax by 98% to US$29.3 million and adjusted earnings per share 32% to 23.22 US cents.

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.

13 Nov 2023

Team Internet Group (AIM:TIG) has followed up its record trading performance in 2022 with solid organic revenue growth in the third quarter of 2023 in both the online marketing and online presence segments.

Gross profit increased 8% year on year to US$138.5 million (£113.1 million), 50% of which passed through to the US$68.8 million of underlying earnings (EBITDA).

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

26 May 2023

CentralNic Group PLC (AIM:CNIC) CEO Michael Riedl visits the Proactive London studio after releasing results for the three months to 31 March 2023 showing that the company recorded its "best first quarter ever."

Riedl reveals how CentralNic achieved its 24% increase in Q1 revenues, highlighting his expectation that the company will continue to grow well during the coming years.

He also reveals the specific niche has found within the "big megatrend" of the "bricks and mortar" economy transforming into a digital universe.

Driving digital growth: Team Internet Group's strategic insights and...

Team Internet Group (AIM:TIG) CFO, William "Billy" Green, and Head of Investor Relations, Martin Surzyn, presented key insights into the company's business strategy and financial performance at the Proactive One2One Investor Forum. The company specialises in online marketing, leveraging...

on 14/2/24