Leading global domain name services provider CentralNic operates via two divisions: Online Presence provides domain names, hosting, websites, email, security certification and brand protection; and Online Marketing helps domain name owners monetise online traffic using an anonymised, privacy protected marketing platform.
More CentralNic Group content >Investment summary
After a strong H121, management expects CentralNic to deliver revenue and profits for the year ‘at least at the upper end of market expectations’. Following its FY20 investment programme, the company delivered 20% y-o-y organic growth in H121, with all business lines contributing. Reflecting continuing strong growth, we have raised our FY21 and FY22 revenue targets to US$350m and US$379m, respectively, while adjusted EBITDA rises slightly to US$41.1m and US$45.2m. On our revised estimates, CentralNic’s shares continue to trade well below its web services and online marketing peers, despite our estimate for current year growth of 45%.
Y/E Dec |
Revenue (US$m) |
EBITDA (US$m) |
PBT (US$m) |
EPS (c) |
P/E (x) |
P/CF (x) |
|---|---|---|---|---|---|---|
| 2019A | 109.2 | 17.9 | 16.1 | 9.24 | 18.2 | N/A |
| 2020A | 241.2 | 30.6 | 19.8 | 10.57 | 15.9 | N/A |
| 2021E | 350.1 | 41.1 | 27.8 | 11.01 | 15.3 | N/A |
| 2022E | 378.8 | 45.2 | 30.9 | 11.40 | 14.7 | N/A |
Industry outlook
CentralNic supplies the tools needed for businesses to develop their online presence, providing domain names, hosting, websites, email, security certification, brand protection and marketing. It delivers services to c 40m domains, with cross-selling and upselling important drivers of future growth – organic growth is supported by M&A.
Last updated on 20/10/2021Content on CentralNic Group
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TMT
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Share price graph
Balance sheet |
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| Forecast net debt (US$m) | 80 |
| Forecast gearing ratio (%) | 66 |
Price performance
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Key management |
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|---|---|
| Iain McDonald | Chairman |
| Ben Crawford | CEO |
| Michael Riedl | CFO |
| Don Baladasan | Group managing director |
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