Team Internet Group PLC Reports Significant Financial Growth in 2023 Annual Results

Team Internet Group PLC (AIM:TIG), a leading global internet company, announced a remarkable financial performance for the year 2023, showcasing significant growth across key financial metrics. The audited annual report, which has been disclosed on the company's website, reveals a 15% increase in revenue, reaching USD 836.9 million. This growth is complemented by a 12% rise in adjusted EBITDA to USD 96.4 million and a striking turnaround in profit after tax, which surged to USD 24.3 million from a loss of USD 2.1 million in the previous year.

The company highlighted several operational and corporate achievements, including its rebranding to Team Internet Group and being listed among Europe's fastest-growing companies by the Financial Times. Additionally, the acquisition of Adrenalads and strategic adjustments to its global office footprint were noted as key strategic moves. A notable highlight was the successful execution of share buyback programmes and the payment of its inaugural dividend, emphasizing the company’s commitment to generating shareholder value.

With the announcement of its Q1 2024 results set for 13 May 2024 and its Annual General Meeting scheduled for 18 April 2024, the company is poised for continued growth. CEO Michael Riedl expressed optimism, highlighting the significant increase in revenue and adjusted EBITDA as milestones for the company.