4th Feb 2019 13:42
LONDON (Alliance News) - CentralNic Group PLC on Monday said it delivered a solid performance in 2018 as its board expects its annual results to be in line with market expectations.
For 2018, the domain name registry company expects revenue to be GBP42.5 million, almost doubled from GBP24.3 million a year ago.
Adjusted earnings before interest, taxes, depreciation and amortisation are estimated to be GBP6.7 million with a "minimal contribution from one-off premium domain sales ". In 2017, adjusted Ebitda was GBP6.6 million of which GBP3.0 contributed by one-off premium domain sales.
Furthermore, the company said it has completed a number of integration milestones since its reverse takeover in August 2018 of Germany-based domain names services provider, KeyDrive.
"The transaction effectively doubled the company's size and increased the percentage of revenue attributable to subscription products to 90% of total revenue," CentralNic said.
In addition, to reflect the integration of CentralNic and KeyDrive, the company appointed former KeyDrive boss Michael Riedl as chief financial officer with immediate effect.
He replaces Don Baladasan who will remain on the board in a new role as group managing director.
CentralNIC shares were trading up 1.8% at 51.40 pence each. The firm will publish its 2018 results during the week starting May 13.
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