Team Internet Group plc (TIG): Leverage and net debt reduction
This situation live
TIG Team Internet Group plc
7 Sep 2026 · Leverage 3.9x; net debt expected to fall · −17% since
Net debt is expected to reduce significantly over the second half and to be broadly in line with market consensus at the year end.
Leverage and net debt reduction
Leverage 3.9x; net debt expected to fall
Next: significant net debt reduction in H2 2026
Every step · 1
- 7 Sep 2026 Leverage 3.9x; net debt expected to fall – Net debt is expected to reduce significantly over the second half and to be broadly in line with market consensus at the year end. ↗
What is happening
Team Internet Group plc: Leverage and net debt reduction – Leverage 3.9x; net debt expected to fall. ['Leverage 3.9x; net debt expected to fall']
- In short
- Net debt rose to USD 117.6m at 30 June 2026 from USD 87.6m at year end. Drivers were a registry contract non-renewal and USD 14.8m of tax payments. Leverage is 3.9x (3.1x on an accounting basis) with USD 78.2m of liquidity. The Board expects significant H2 net debt reduction and says it is advancing full refinancing options.
- Announced
- 7 Sep 2026 · Leverage 3.9x; net debt expected to fall
- Net debt
- USD 117.6m at 30 June 2026 (31 Dec 2025: USD 87.6m)
- Leverage
- 3.9x TTM (3.1x accounting basis); TTM Dec 2025: 2.9x
- Interest cover
- 2.7x TTM 30 June 2026
- Liquidity
- USD 78.2m: cash USD 52.0m plus undrawn RCF USD 26.2m
- Board view
- Net debt to reduce significantly in H2, broadly in line with consensus at year end
What comes next
significant net debt reduction in H2 2026.
Briefing
Team Internet Group plc in 3 minutes
Team Internet sells domain names and runs product-comparison sites and online ad-matching platforms. It reported record profit for 2023, then lost most of its Search earnings when Google changed its ad programme:...
- Act 1Record profits, buybacks and a rebrand
- Act 2Google changes the rules, and a bid goes nowhere
- Act 3Rebuilding Search, then a strategic review
From the company's own announcements. Not investment advice.
Also at Team Internet Group plc 3 open
Sale process / strategic reviewStrategic review and divestments – Advanced discussions; multiple parties interested
Segment turnSearch segment Google changes – Transition complete; profitable in June
Legal & regulatoryAntitrust damages claim – Claim pursued; outcome and timing uncertain
Balance-sheet stress / refinancingDebt facilities refinancing – Renegotiation completed; maturities October 2027 · closed
Takeover targetOffer for the company – ended · closed
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