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Team Internet Group (AIM: TIG)

Last close As at 26/04/2024

GBP1.36

▲ −4.00 (−2.85%)

Market capitalisation

GBP354m

Team Internet 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.

Team Internet’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 Team Internet 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 and AppLovin.

Latest Insights

View More

TMT | Update

Team Internet Group — Growth and returns, acquisition bolsters outlook

TMT | edison tv

Team Internet – executive interview

TMT | Flash note

Team Internet Group — Solid on all fronts

TMT | Update

Team Internet Group — Diversity delivering resilience
CentralNic Group_resized
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Sector

TMT

Equity Analyst

Max Hayes

Max Hayes

Associate Analyst

Katherine Thompson

Key Management

  • Billy Green

    CFO

  • Iain McDonald

    Chairman

  • Martin Surzyn

    Head of investor relations

  • Michael Riedl

    CEO

Balance Sheet

Forecast net debt (US$m)

28.5

Forecast gearing ratio (%)

17

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (2.4) 3.8 14.2
Relative (4.1) (2.5) 11.6
52 week high/low 144.6p/109.0p

Financials

Team Internet’s FY23 results exceeded our forecasts and consensus on revenue and EBITDA. Online Marketing was driven by increased consumer engagement, reflecting investment in delivering more targeted ads across a wider array of channels. The group’s latest acquisition, Shinez, strengthens Online Marketing via diversification of publishers and is earnings accretive with scope for further synergies. Online Presence returned to strong revenue growth, driven by demand for exotic domains, pricing optimisation and strategic partnerships. Robust free cash flow enabled diverse capital allocation, focused on shareholder returns.

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2022A 728.2 86.0 64.3 15.44 10.9 N/A
2023A 836.1 96.4 82.6 22.41 7.5 N/A
2024E 909.6 103.0 87.7 25.79 6.5 N/A
2025A 964.5 106.1 90.7 27.09 6.2 N/A

Research

edison tv

TMT

Team Internet – executive interview
CentralNic Group_resized

Flash note

TMT

Team Internet Group — Solid on all fronts

TMT

Update

Team Internet Group — Growth and returns, acquisition bolsters outlook
View All

Further insights

insight

TMT

Team Internet: EKF 2023 QuickView

Analyst of the week

Katherine Thompson
kthompson@edisongroup.com 020 3077 5730
Read latest

Thematics

thematic

TMT

MediaWatch – Rinse and repeat

thematic

Consumer

Deutsches Eigenkapitalforum (EKF) 2023 consumer and media

thematic

TMT

Deutsches Eigenkapitalforum (EKF) 2023 technology

thematic

TMT

MediaWatch – Still waiting…
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