CentralNic Group (AIM: CNIC)

Currency in GBP

Last close As at 09/06/2023


−0.80 (−0.72%)

Market capitalisation


CentralNic Group is a global internet company that derives recurring revenue from privacy-safe, AI-based customer journeys that help online consumers make informed choices, as well as from the distribution of domain names.

CentralNic’s largest addressable market is online marketing, with global spending reaching US$616bn in 2022 and forecast to grow at a CAGR of 10% to 2027, according to Statista. While CentralNic currently has a small share of this market, its proprietary digital marketing capabilities and blue-chip partnerships offer the potential for rapid growth. However, further market consolidation may result in heightened competition from larger competitors, namely marketing technology companies such as The Trade Desk or AppLovin.

CentralNic Group_resized



Equity Analyst

Max Hayes

Max Hayes

Associate Analyst

Key Management

  • Billy Green


  • Iain McDonald


  • Martin Surzyn

    Head of investor relations

  • Michael Riedl


Balance Sheet

Forecast net debt (US$m)


Forecast gearing ratio (%)


Share Price Performance

Price Performance
% 1M 3M 12M
Actual (5.7) (21.2) (11.6)
Relative (3.6) (17.8) (10.7)
52 week high/low 159.0p/109.6p


CentralNic’s Q123 results showed robust revenue and profit growth, as well as a further deleveraging of its balance sheet. Its product comparison business VGL’s entry into France provides a strong organic growth opportunity, with potential to expand into other regions. The group continues to showcase its commitment to shareholder returns with its latest share buyback programme.

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2021A 410.5 46.3 31.9 10.91 12.6 N/A
2022A 728.2 86.0 64.3 21.41 6.4 N/A
2023E 833.7 94.4 80.7 20.13 6.8 N/A
2024E 909.6 103.0 89.3 22.47 6.1 N/A



MediaWatch – April 2023

Digital Marketing and Internet Media Technology Platform


MediaWatch – January 2023


IPO apocalypse


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