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1 June 2021 CentralNic Group Plc ( AIM : CNIC ) , the global internet platform company that derives revenue from the worldwide sales of internet domain names and related web services , announces its unaudited financial results for the three months ended 31 March 2021. Both revenue and adjusted EBITDA have increased quarter - on - quarter , driven by a combination of acquisitions and underlying organic growth . ● Financial summary : Revenue increased by 48 % to USD 84.4m ( Q1 2020 : USD 56.9m ) Organic revenue growth Q1 2021 compared to Q1 2020 is 16 % Net revenue / gross profit increased by 58 % to USD 27.9m ( Q1 2020 : USD 17.7m ) Adjusted EBITDA * increased by 23 % to USD 10.1m ( Q1 2020 : USD 8.2m ) Operating profit of USD 1.4m ( Q1 2020 : USD 2.9m ) Adjusted operating cash conversion of 163 % ( Q1 2020 : 46 % ) , primarily due to optimisation of working capital Net debt ** down to USD 79.0m ( gross interest - bearing debt of USD 122.1m , cash of USD 43.1m ) as compared to USD 85.0m on 31 December 2020 ( gross interest - bearing debt of USD 113.6m , cash of USD 28.6m ) ● CENTRALNIC GROUP PLC ( " CentralNic " or " the Company " or " the Group " ) ● UNAUDITED FINANCIAL RESULTS FOR THE THREE MONTHS ENDED 31 MARCH 2021 Operational highlights : Significant investment in new management , staff and systems accelerated organic growth to record levels and positions the Group well for continued growth All segments have achieved organic growth compared to the prior year period Investment in new products resulting in improved sales of value - added services in Direct and Indirect segments Financial and operational performance demonstrate the resilience of all businesses in the face of potential business interruption related to the COVID - 19 pandemic Financial highlights : Completion of acquisition of SafeBrands , an Enterprise Domain Management and Online Brand Protection provider , strengthening our Enterprise division within the Direct Segment , for USD 3.7m plus a deferred consideration of USD 0.7m Successful , oversubscribed placement of EUR 15m ( approximately USD 18.2m ) of senior secured callable bonds at 104.5 % of par value , implying a yield to maturity of 5.0 % Completion of the acquisition of online marketing business Wando Internet Solutions for USD 6.5m plus an additional performance - based earnout of up to USD 6.5m ● Post period - end highlights : Final EUR 0.8m of deferred consideration for the Team Internet acquisition settled in April 2021 EUR 0.6m of deferred contingent consideration for the SafeBrands acquisition settled in May 2021 ● Outlook : The accelerated organic growth is testament to the success of the investment in new management , staff and systems The Company's market consolidation strategy continues , with opportunities being continually assessed in what is a large , globally fragmented and growing market Management expects the full year results to be in line with market expectations 1