CentralNic Group PLC, the domain name platform operator, said organic growth had accelerated during the nine months to 30 September 2021 and now was 29% ahead of the comparable period in 2020.
As a result, total group revenue (including acquisitions) over the nine months will be at least US$280mln and underlying profit (adjusted EBITDA) at least US$32mln, making increases of at least 66% and 45% respectively.
Ben Crawford, CentralNic’s chief executive, added that the company expects to trade comfortably at or above the upper end of market expectations for the full year for both revenue and adjusted EBITDA.
Consensus forecasts currently for the full year are revenues in 2021 of between US$348.6mln-US$355.3mln and underlying profits of US$41.1mln-US$42mln.
Crawford added he was pleased that the accelerated growth is now also “starting to translate into higher profits".
Net debt on 30 September 2021 dropped to US$79mlm from US$85mln even with US$13mln spent on the acquisitions of Safebrands and Wando and the final deferred consideration payment for Team Internet.
Adjusted operating cash conversion continues to be in excess of 100%, added CentralNic.