Edison Investment Research - CentralNic Group (CNIC) CentralNic Group - A busy end to a momentous year

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Edison Investment Research

Richard Williamson

CentralNic Group - A busy end to a momentous year

CentralNic (CNIC) announced on 19 December that it is acquiring a portfolio of niche websites as part of its vertical integration strategy for its Online Marketing segment. The portfolio provides the company with exclusive special internet traffic to monetise and will be immediately earnings accretive. This is the latest in a multi-year series of acquisitions that has been transformative for the business, driving strong free cash flow generation. Combined with recent debt restructuring, CNIC is now in a position to start to return cash to shareholders and expects to launch its first share buyback by the end of FY22. We have upgraded our FY22 and FY23 revenue and profit forecasts to reflect these recent announcements, as well as the group’s strong trading. The acquisition follows the recent announcement of CEO Ben Crawford’s retirement from the CNIC board, with group CFO Michael Riedl appointed as his successor.

21/12/2022 1 EN

Underlying

CentralNic Group

CentralNic Group is a holding company which provides global domain name services. Co. provides Wholesale, Retail and Enterprise services and consultancy for new Top Level Domains (TLDs), Country Code TLD's and Second-Level Domains and it is the owner and registrant of a portfolio of domain names, which it uses as SLD domain extensions and for resale on the domain name aftermarket. The Wholesale Division powers domain names and sells them via an integrated network of third party retailers; the Retail Division sells domain names and related services to end users; and the Enterprise Division sells domain names and related services, consultancy services and licenses software to corporations.

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GB00BCCW4X83 London Stock Exchange United Kingdom

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Richard Williamson

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