Team Internet Group PLC
LSE:TIG
Team Internet Group PLC
CentralNic Group Plc is a holding company, which engages in global domain name solutions. The firm develops its own software platforms for the global distribution of domain names. The firm offers a full-service suite of Online Marketing and Online Presence solutions. The company enables its customers to cut through the digital noise and connect to products and services. Its Online Marketing solutions utilize advanced AI and machine learning to create consumer journeys that convert general interest media users into high-conviction online customers. Its Online Presence solutions offer domain and related Web services, merging technical to serve a global customer base of end users and suppliers. Its suite of products is powered by its online marketing and advertising tools, which allow its clients to monetize domains, optimize their digital marketing and connect.
CentralNic Group Plc is a holding company, which engages in global domain name solutions. The firm develops its own software platforms for the global distribution of domain names. The firm offers a full-service suite of Online Marketing and Online Presence solutions. The company enables its customers to cut through the digital noise and connect to products and services. Its Online Marketing solutions utilize advanced AI and machine learning to create consumer journeys that convert general interest media users into high-conviction online customers. Its Online Presence solutions offer domain and related Web services, merging technical to serve a global customer base of end users and suppliers. Its suite of products is powered by its online marketing and advertising tools, which allow its clients to monetize domains, optimize their digital marketing and connect.
Results Inline: Team Internet delivered first-half 2024 results that were in line with the revised expectations set in March, with all divisions performing as anticipated.
Search Reset: Search revenue and profit were hit by Google’s workflow changes, but management sees strong visitor growth and is confident in a recovery as the business transitions to new monetization models.
Domains Strength: The Domains business showed strong EBITDA growth (up 30% to $10.7 million), focusing on quality, margin resilience, and higher-value customers.
Comparison Expansion: The Comparison segment kept traffic and revenue per visitor resilient, began international expansion, and expects this to become a major growth lever.
Cash & Debt: Net debt fell to $93.3 million from nearly $110 million, with strong cash conversion (109%) and ongoing share buybacks.
Cost Action: $4.7 million in restructuring costs were incurred to reduce the future cost base, with benefits expected in H2 and beyond.
Guidance Maintained: No change to outlook; management expects higher profitability in H2, boosted by seasonality, cost savings, and new business wins.
