CentralNic Group (CNIC) today announces its audited results for the year ended 31 December 2014 and shareholders loved the report sending shares up 14.75% in trading today to 35p
Shares have a 52 week high of 73p and a low of 23p:
Operational highlights
Net revenue grew by 99% to £6.07m (2013: £3.05m) – growing revenues from registry, registrar and enterprise services
Adjusted EBITDA grew by 70% to £1.72m (2013: £1.02m) – reflecting strong revenue growth offset by additional costs invested in the fledgling in-house registrar and enterprise businesses
Ranked as the world’s Number Two new TLD registry provider by volume – launched 8 new generic Top-Level Domains during the year, including the leader by volume, .xyz;
Entered the global top 30 domain retailers via the Internet.BS acquisition in June 2014
Acquired a 12% Equity Stake in Accent Media Limited, the successful applicant for the highly sought-after .tickets new Top-Level Domain
Finished the year with 3 profitable operating divisions: registry services, registrar services and enterprise services (including the premium domains business created in the second half of the year) – reflecting a diversified and resilient business model
Financial highlights
|
31 Dec 2014 |
31 Dec 2013 |
Change |
|
|
£’000 |
£’000 |
£’000 |
|
|
Billings |
9,888 |
3,891 |
5,997 |
|
Revenue |
6,067 |
3,051 |
3,016 |
|
Gross profit |
3,573 |
2,338 |
1,235 |
|
Adjusted EBITDA* |
1,724 |
1,015 |
709 |
|
Adjusted Profit before taxation** |
1,658 |
1,006 |
652 |
|
Profit before taxation |
520 |
701 |
(181) |
|
Net cashflow from operating activities |
1,414 |
1,134 |
280 |
Billings (including partner share) increased by 154% to £9.89 million (2013: £3.89 million), reflecting the billing for the new Top-Level Domains launched during the year and the new business activities in the registrar and enterprise divisions
Net cash of £3.06 million at the end of the year (2013: £4.93 million)
Net revenue increased by 99% to £6.07 million (2013: £3.05 million).
All 3 divisions saw growth in net revenue, augmented by a half year of trading results in the registrar division from the acquisition of the Internet.BS trade and the creation of the premium domains business in the enterprise division
Adjusted EBITDA of £1.72 million (2013: £1.02 million) reflected strong performance from the registry business, the acquired registrar business (the trade of Internet.BS) and the premium domains business. These activities combined, after accounting for the impact of deferrals to income and costs and normal business overheads, contributed £2.55 million to Adjusted EBITDA (2013: £0.68 million). This was then offset by lower consultancy and licence sales of £0.10m (2013: £0.48m) combined with £0.93 million of operating costs (2013: £0.15 million) taking into account the first full year of costs related to being on AIM as well as investing in the fledgling new business areas
Profit before taxation of £0.52 million (2013: £0.70 million) reflected Adjusted EBITDA plus interest income offset by non-cash charges for depreciation and amortisation of £0.54 million (2013: £0.26 million) coupled with acquisition deal fees of £0.47 million (2013: £nil) and the charge for share based payments of £0.22 million (2013: £0.07 million). Adjusted profit before taxation, excluding amortisation charges, the acquisition deal fees and the share based payments charge was £1.66 million (2013: £1.01 million)
Net cash-flow from operating activities increased to £1.41 million (2013: £1.13 million). This reflected a strong underlying conversion to operating cashflow from Adjusted EBITDA, but then offset by £0.47m of professional fees related to acquisitions and investments
Post year end
Nine additional exclusive gTLD contracts announced – .site, .online, .tech, .fan, .love, .forum, .realty, .rent, .coop
New gTLDs entered launch phase in 2015: .space; .design; .college
Launched retail website for cymru.domains – in top 5 registrars by volume for both .cymru and .wales
First billings for DomiNIC domain management software
