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Monday 13 May 2019

CentralNic doubles in size

CentralNicLondon-based CentralNic Group, the AIM-listed provider of internet domains doubled revenues in 2018 to £42.7m (2017 £21.4m) as it integrated the KeyDrive acquisition. The expanded business also improved profitability with Gross Profit up 69% to £19.7m (2017: £11.6m) and adjusted EBITDA up 66% to £7m (2017: £4.2m).

Three significant acquisitions have contributed to 2018’s growth. CentralNic acquired KeyDrive in July 2018 principally looking to improve its market share by doubling its customer numbers overnight. There is also a pretty significant overlap in services between the business that should yield cost synergies.

CentralNic is looking to build a global business and access growth markets, acquiring SK-NIC in 2017 which manages the top level domain .sk (like .UK) for Slovakia whilst also buying Romanian and Brazil-focused registrar and domain hosting provider GlobeHosting last September. 

The acquisitions have provided much greater scale for the Group with its own platforms now supporting some 14m domain names. Through these acquisitions, CentralNic has doubled headcount, with additional staff in Germany (housed in a purpose-built engineering headquarters near Saarbrh the), the USA, Luxembourg, Slovakia and Romania.

The Group targets three customer types of Resellers, Small Businesses, and Corporates and sells each subscription-based products and services that has seen the company achieve 90% recurring revenue and near 100% cash conversion that puts the business in very good shape for 2019.

Posted by Marc Hardwick at '09:05' - Tagged: results   domainservices  

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