CentralNic Group PLC (AIM:CNIC), the internet infrastructure services provider, said it expects to ‘comfortably trade towards the high end' of the recently upgraded market expectations for the year after a strong first half.
Total revenue advanced 93% to US$334.6mln in the six months ended June 30, while organic growth for the trailing 12 months (factoring out the impact of recent acquisitions) was 62%.
Net revenues advanced 51% to US$82.1mln, while adjusted underlying earnings (EBITDA) almost doubled to US$38.6mln.
Operating cash conversion, meanwhile, was 110% and the company’s net debt fell by 22% to a better-than-expected US$63.6mln.
CentalNic said it expected to be able to announce the results of the company’s refinancing on ‘favourable terms’ before the October trading update.
“CentralNic has enjoyed a strong first half of the year with year-on-year organic growth now reaching a record 62%, with our high cash conversion driving our net debt down to below our consensus EBITDA for 2022,” said chief executive Ben Crawford.
“CentralNic continues to deliver sustainable growth thanks to our hugely scalable and privacy safe proprietary solutions and the enormous size of the market opportunities we are addressing.”
The company founded its reputation on supplying domain names. However, it has branched into complementary services. Most of its revenues are recurring,