Main menu
Edison Group
  • Home
  • Equities

    Equities

    View All Equities

    Equities by Sector

    Chosa

    MCap

    SEK57m

    Last close

    SEK0.80

    ▲ 0.20 (33.33%)

    Vection Technologies

    MCap

    AUD47m

    Last close

    AUD0.04

    ▲ 0.00 (12.90%)

    Metro Bank

    MCap

    GBP684m

    Last close

    GBP1.02

    ▲ 7.90 (8.43%)

  • Sectors

    Sectors

  • Thematics

    Thematics

    View All Thematics

    Latest

  • Audiovisual

    Audiovisual

    View All Audiovisual

    Latest

Team Internet Group (AIM: TIG)

Last close As at 22/11/2024

GBP0.84

▲ −1.00 (−1.18%)

Market capitalisation

GBP214m

Team Internet Group is a global internet company that derives recurring revenue from privacy-safe, AI-based customer journeys that help online consumers make informed choices, as well as from the distribution of domain names.

Team Internet’s largest addressable market is online marketing, with global spending reaching US$616bn in 2022 and forecast to grow at a CAGR of 10% to 2027, according to Statista. While Team Internet currently has a small share of this market, its proprietary digital marketing capabilities and blue-chip partnerships offer the potential for rapid growth. However, further market consolidation may result in heightened competition from larger competitors, namely marketing technology companies such as The Trade Desk and AppLovin.

Latest Insights

View More

TMT | Update

Team Internet Group — Stability amid setbacks

TMT | Update

Team Internet Group — Earnings remain resilient

TMT | Update

Team Internet — Upgrading FY25 EPS by 7% on Shinez

TMT | Update

Team Internet Group — Growth and returns, acquisition bolsters outlook
CentralNic Group_resized
Visit Website

Sector

TMT

Equity Analyst

Dan Ridsdale

Head of Technology

Katherine Thompson

Key Management

  • Billy Green

    CFO

  • Iain McDonald

    Chairman

  • Martin Surzyn

    Head of investor relations

  • Michael Riedl

    CEO

Balance Sheet

Forecast net debt (US$m)

77

Forecast gearing ratio (%)

50

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (34.6) (41.3) (27.1)
Relative (32.3) (39.9) (32.5)
52 week high/low 204.0p/82.7p

Financials

In the face of an advertising market that has not picked up in Q324, Team Internet’s core business has performed creditably. However, Shinez has significantly underperformed expectations and is unlikely to contribute materially to profits in our forecast period. Combined with a moderation in our forecasts for the core business, we now expect earnings to remain broadly flat in FY24 and FY25, which results in a 17.6% reduction to FY25e EPS. The FY25e P/E rating of 5.6x with a 20% free cash flow (FCF) yield looks overly discounted.

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2022A 728.0 86.0 64.0 14.70 7.4 5.4
2023A 837.0 96.0 77.0 22.48 4.8 4.1
2024E 841.0 97.0 78.0 22.85 4.8 3.5
2025E 853.0 98.0 80.0 23.34 4.7 3.5

Update

TMT

CentralNic Group — FY23 outlook maintained after record Q1

Outlook

TMT

CentralNic Group — Clarifying the narrative
CentralNic Group_resized

Update

TMT

CentralNic Group — Unfazed by challenging environment

Update

TMT

CentralNic Group — A busy end to a momentous year

Update

TMT

CentralNic Group — Deleveraged and delivering growth

Update

TMT

CentralNic Group — Another quarter of record growth

Update

TMT

CentralNic Group — Acquisition of Aporia for up to US$19m

Update

TMT

CentralNic Group — Organic growth momentum continues

Flash note

TMT

CentralNic Group — Flying high with 62% organic revenue growth

Flash note

TMT

CentralNic Group — Trading ‘comfortably’ on track for FY22

edison tv

TMT

CentralNic – executive interview

Update

TMT

CentralNic Group — 51% organic revenue growth in Q122

Update

TMT

CentralNic Group — VGL acquisition follows a strong FY21

Flash note

TMT

CentralNic Group — Fireball, .ruhr and strong organic growth

Flash note

TMT

CentralNic Group — Ending a strong year at a gallop

Outlook

TMT

CentralNic Group — A scaling player in online services

QuickView

TMT

CentralNic Group — Growth at an attractive valuation

Update

TMT

CentralNic Group — Organic growth continues to accelerate

edison tv

TMT

CentralNic Group – executive interview: Strong growth still largely unrewarded

Update

TMT

CentralNic Group — Strong growth going largely unrewarded

Flash note

TMT

CentralNic Group — Sustained growth, benign outlook

edison tv

TMT

CentralNic – executive interview

Flash note

TMT

CentralNic Group — A solid Q121, with double-digit organic growth

Update

TMT

CentralNic Group — Strong FY20, carrying momentum into FY21

Flash note

TMT

CentralNic Group — Acquisition of corporate registrar, SafeBrands

Update

TMT

CentralNic Group — Delivering on its growth model

edison tv

TMT

CentralNic – executive interview

edison tv

TMT

CentralNic – executive interview

Update

TMT

CentralNic Group — Acquisition of Codewise and £30m placing

Flash note

TMT

CentralNic Group — Strong growth, but lower Q2 margins

Update

TMT

CentralNic Group — A platform business, looking to scale

Initiation

TMT

CentralNic Group — Core internet infrastructure consolidator

edison tv

TMT

Executive interview – CentralNic Group

edison tv

TMT

Executive interview – CentralNic