XLMedia PLC Trading Update (3673G)
26 Julio 2021 - 1:00AM
UK Regulatory
TIDMXLM
RNS Number : 3673G
XLMedia PLC
26 July 2021
26 July 2021
XLMedia PLC
("XLMedia" or the "Group" or the "Company")
Trading Update
XLMedia (AIM: XLM), a leading global digital performance
publisher, today provides the following trading update for the six
months ended 30 June 2021.
Financial update
The Company continues to make good progress in the current
financial year, buoyed by a consistent performance in the Personal
Finance vertical, record organic growth in the European Sport
vertical and a positive impact from the recently acquired US Sports
vertical. However, this progress is partially offset by the Casino
vertical's performance, where tail revenues continue to deteriorate
and new revenue is being built from a smaller existing asset
base.
For the six months ended 30 June 2021, XLMedia expects to report
revenue of approximately US$32.0 million (H1 2020: US$27.7
million), EBITDA of approximately US$2.9 million (H1 2020: US$3.5
million) and Adjusted EBITDA [1]of approximately US$7.0 million (H1
2020: US$5.1 million). Cash balances remained strong and at end of
June 2021 were approximately US$38.0 million (30 June 2020: US$24.8
million).
The Company therefore reaffirms guidance as previously stated on
27th May 2021 of revenue for full year 2021 of between $65 million
and $70 million.
Operational update
The integration and commencement of a number of marketing
initiatives across the Company's US sports assets continues to
gather momentum, with increased levels of traffic reported across
all sites since their acquisition. The US Sports vertical is
well-placed to benefit from the US sports season in H2 2021.
Management is accelerating the move to reorganise the Company by
vertical markets, supported by a distributed shared services model.
This will allow XLMedia to better match the design of the Group
with its strategic intentions and more effectively execute and
deliver them. This process is particularly relevant to the Casino
vertical which continues to generate lower levels of both historic
and new player revenues.
It is expected that this initiative will allow for a total
workforce reduction of up to 15%. Functional expertise will now be
spread across multiple locations and organised in a way that, as
the Group builds new capabilities and enters new markets, the
business will have an agile service delivery model that can provide
timely and localised support while simultaneously controlling
costs.
The Group continues to actively evaluate acquisition
opportunities that would accelerate the Company's growth ambitions
and be earnings accretive to the business.
The information contained within this announcement (the
"Announcement") is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulation (EU)
No. 596/2014. Upon the publication of this Announcement via a
Regulatory Information Service, this inside information is now
considered to be in the public domain.
For further information, please contact:
XLMedia plc ir@xlmedia.com
Stuart Simms, Chief Executive Officer via Vigo Consulting
Rowan Ellis, Interim Chief Financial
Officer
www.xlmedia.com
Vigo Consulting Tel: 020 7390 0233
Jeremy Garcia / Fiona Hetherington /
Kendall Hill
www.vigoconsulting.com
Cenkos Securities plc (Nomad and Joint Tel: 020 7397 8900
Broker)
Giles Balleny / Max Gould
www.cenkos.com
Berenberg (Joint Broker) Tel: 020 3207 7800
Chris Bowman / Mark Whitmore / Simon
Cardron
www.berenberg.com
Notes:
XLMedia is a global digital performance publisher. Operating
across a variety of verticals including online gambling, personal
finance, sports and technology, the Group uses proprietary tools
and methodologies to identify and target high value clients for
platform operators.
XLMedia has a clear transformation strategy, which will enable
it to shape the future of the performance publishing industry. The
Company has set out a clear strategic agenda under two fundamental
priorities:
-- A balanced portfolio of online assets
o XLMedia seeks to create a balanced portfolio of websites to
cover a range of attractive geographies, both stable and
high-growth verticals and with greater exposure to regulated
markets. In doing so, the Company will focus particularly on
developing presence in North American sports, primarily through
targeted acquisition.
-- Branded, content-rich, engaging websites
o XLMedia will consolidate its online portfolio, concentrating
on a much smaller number of publishing assets, and focusing its
resources on optimising this core set of premium sites for its
chosen markets. These content-rich, engaging websites, underpinned
by intelligent market-leading technology, will seek to build
stronger lasting relationships with consumers and enhance
monetisation opportunities.
[1] 1 Adjusted EBITDA is defined as EBITDA adjusted for Share
Based Payments and Transformation costs.
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END
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