CentralNic (AIM: CNIC), today announces its audited results for the year ended 31 December 2013.
Share of the company are down slightly trading at 62.5P. The company has a 52 week high of 115.5 P and has a low of 58,5 P.
For 2013 billings were £3.89 million, representing a 15% increase on 2012, and producing net revenues of £3.05 million, an increase of 4% over 2012.
Net cash-flow from operating activities was £1.13 million, a 15% improvement over the previous year.
This growth in revenues is the result of strong deferred revenues from prior periods, continued growth in annuity billings for existing inventory, the successful launch of new domain extensions and consulting revenues relating to new TLDs.
In September 2013, CentralNic successfully raised £5 million (£4.2 million after costs of placing) through its listing on AIM, and immediately commenced investing the funds raised in its future growth strategies, with £0.20 million of operating expenditure invested in the fourth quarter of 2013.
Despite this additional spend and new expenses due to our AIM listing, the Group achieved an adjusted EBITDA of £1.02 million in 2013, representing a strong 33.3% margin on net revenues.
At the year end the Group had cash balances of £4.93 million (2012 £0.16 million).
Domain Management Software Acquisition
In December 2013, CentralNic acquired DomiNIC, a domain portfolio management and sales software product, currently used by some of the largest corporations in the German-speaking markets. CentralNic is using this software to integrate its domain distribution platform with the in-house systems used by major corporations.
At the end of 2013 the estimated number of people with access to the internet was growing rapidly towards three billion, with smart phone sales now surpassing one billion per year and initiatives like internet.org focused on getting the remaining five billion people online, using the resources of Facebook, Samsung, Nokia, and Ericsson, amongst others.
CentralNic intends to supply this growing demand with domain names and other tools to empower these new internet users to get their own websites. We are already active in 75 geographic markets, making us well-equipped to continue growing globally and supporting consumers and businesses in developing markets seeking to enjoy the benefits of internet adoption.
Taking into account the continuing investment in 2014 and the revenues from new TLD operations commencing in the second half, the Company is well positioned to meet market expectations for 2014.
Chief Executive Officer