Company predicts a strong finish to the end of 2021.
Revenue for the first three quarters of 2021 increased by 67% to $282.0 million compared to the same period last year. Organic revenue grew 29% in the first three quarters of this year compared to the same period in 2020.
The company’s online marketing segment was particularly robust:
The Online Marketing segment grew more rapidly, with revenues increasing by USD 94.1m, or 129%, from USD 72.9m to USD 167.0m. Organic revenue grew at a high rate of 47%, foremost driven by CentralNic’s PubTONIC media buying business, with the additional inorganic growth being contributed by the acquisitions of Zeropark, Voluum and Wando.
In comments in the report, CentralNic CEO Ben Crawford said the company continues to plan its acquisition activity and that margins should improve in the future:
A virtually pure play recurring revenue business with cash conversion of over 100%, CentralNic continues to improve its cash position, interest coverage and net debt to EBITDA ratio as it grows. As our investment levels plateau moving forward, we expect future periods to benefit from increasing operational leverage.
These robust results reflect CentralNic’s continued success in sourcing, completing and integrating transformative acquisitions and driving the organic growth of our businesses. The pipeline of future acquisition targets remains strong, and we are confident in continuing our trajectory towards joining the ranks of the global leaders in our industry.”
Crawford also says he expects full-year revenue and profits to be at least at the upper end of market expectations.
CentralNic shares were up slightly today.
Post link: CentralNic bullish on remainder of year
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Original article: CentralNic bullish on remainder of year
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