Team Internet Group Plc (TIG.L), an internet services holding company, said on Tuesday that it expects a decline in adjusted EBITDA and revenue for the full year, amidst a fall in revenue from the Search segment, mainly due to a challenging market.
For the 12-month period to December 31, 2024, the company posted adjusted EBITDA of $92 million, lesser than $96 million, registered last year. Excluding items, EBITDA from the Search segment stood at $56 million, lower than $74 million a year ago.
Net revenue from the Search segment was $91 million, compared with $107 million in 2023, while total revenue stood at $537 million as against last year's $604 million.
Net Group revenue was $188 million, down from the previous year's $191 million.
Total Group revenue declined to $803 million from $837 million a year ago.
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