Team Internet Business Overview
Notes:
Income Statement
15%
Gross margins remaining stable in
each business - product mix shifting
with massive growth of Media
Buying
Non-core operating expenses
continue to reduce over time
Finance costs secured - debt
refinancing lowered the interest
rate from 7% plus 3m EURIBOR to
2.75% above SOFR (USD)
FY
FY
%
($, m)
Revenue
2023
2022
Change
836.9
728.2
Cost of Sales
(645.8)
(550.5)
Net Revenue (Gross Profit)
191.1
177.7
8%
Gross Margin %
23%
24%
Operating Expenses
(144.3)
(138.4)
4%
Share-Based Payment Expenses
(4.5)
(5.7)
Operating Profit
42.3
33.6
26%
Adjusted EBITDA¹
96.4
86.0
12%
Depreciation
(3.3)
(3.0)
Amortisation of Intangible Assets
(38.8)
(36.4)
Non-Core Operating Expenses
(6.1)
(8.2)
Foreign Exchange (Loss)/Gain
(1.4)
0.9
Share-Based Payment Expenses
(4.5)
(5.7)
Operating Profit
42.3
33.6
26%
Net Finance Costs
(13.0)
(18.8)
Profit Before Taxation
29.3
14.8
98%
Income Tax Expense
(5.0)
(16.9)
Profit/(Loss) After Taxation
24.3
(2.1)
n.m.
(1) Earnings before interest, tax, depreciation, amortisation and impairment, non-cash charges and non-core operating expenses
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