By Centralnic Group, the internet-platform company, has released its financial results for the first half of the year. Despite a slip in pretax profit due to higher costs and non-cash charges, the company saw an increase in revenue and adjusted earnings. It expects its full-year results to meet or exceed market expectations.
Financial Performance
In the first half of the year, Centralnic Group’s pretax profit was $13.3 million, down from $15.8 million in the previous year. The decline was primarily attributed to higher cost-of-sales and non-cash charges like amortisation and foreign exchange. However, the company experienced a growth in revenue, reaching $396.4 million compared to $334.6 million previously. Furthermore, adjusted earnings before interest, taxes, depreciation, and amortization rose by 16% to $44.6 million.
Organic Revenue Growth
Centralnic Group reported organic revenue growth at a remarkable rate of 31%. This growth was driven by an 18% increase in revenue in its online marketing segment and a 20% growth in its online presence unit.
Positive Outlook
While keeping a close eye on the global macroeconomic environment, Centralnic Group remains confident in its targeted investments. The company believes it is well-positioned for future success.
Analyst Forecasts
According to a forecast provided by the company’s analysts, Centralnic Group is expected to achieve revenue between $783 million and $834 million for the full year. Adjusted Ebitda is projected to range from $91 million to $98 million.
“Through our ongoing initiatives to boost operating leverage, we are fortifying an already highly dependable and sustainable business model,” said Chief Executive Michael Riedl.
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