XLMedia PLC ("XLMedia" or the "Group" or the "Company"): Interim results for the six months ended 30 June 2018
September 24 2018 - 2:01AM
Business Wire
Acquisitions and further diversification set
foundations for the future
XLMedia (AIM: XLM), a leading provider of digital performance
marketing services, announces its unaudited interim results for the
six months ended 30 June 2018.
Financial highlights
- Revenues of $59.1 million (H1 2017:
$67.9 million)
- Gross profit of $33.5 million (H1 2017:
$35.2 million)
- Adjusted EBITDA of $20.9 million (H1
2017: $22.8 million)
- Profit before tax of $16.8 million (H1
2017: $19.5 million)
- Interim dividend of $6.5 million or
3.0040 cents per share (H1 2017: 4.0226 cents per share); and
- Strong balance sheet with $51.3 million
of cash and short-term investments to be deployed in further
acquisitions for future growth
- On track to meet profit expectations
for the full year
Operating highlights
- Completed a series of acquisitions in
the period totalling $45.8 million, including:
- Leading Finnish gambling related
informational websites for $18.0 million
- WhichBingo.co.uk, one of the leading
online informational portals and comparison sites for online bingo
games in the UK for $10.5 million
- Three US personal finance informational
websites for $5.9 million
- Shortly after period end, acquired
Investorjunkie.com a leading US personal finance website for $5.8
million
- Solid performance from our Personal
Finance assets, growing both in asset base and amount of
clients.
- Preparation for launch into the
significant future potential US gambling market
- Enhanced the Group’s Asia-Pacific
presence in the mobile apps vertical and increased revenues from
new clients in the region
- Management have worked hard to mitigate
previously reported regulatory headwinds and operating challenges
and remain on track to deliver the year end market consensus profit
number
Ory Weihs, Chief Executive Officer of XLMedia,
commented:
“The Group produced a solid profit performance in the first
half, albeit against a backdrop of regulatory pressures and
challenging market conditions in the online gambling sector.
However, we are now seeing positive signals and expect to meet
profit expectations for the full year.
“Since the beginning of this year we have been focusing on
implementing our strategy and executing acquisitions in order to
accelerate growth, allocating over $45 million of capital for
acquisitions. Our newly acquired assets perform as expected and we
are confident they will deliver a strong return."
A webcast of our results presentation will be available on our
website later today:
https://www.xlmedia.com/investor-relations/webcasts/
XLMedia will be holding a presentation for private and retail
investors at 4.00pm on Tuesday 25 September 2018. To register for
the event, please contact Vigo Communications on
xlmedia@vigocomms.com.
To view the full announcement, please visit:
https://www.xlmedia.com/investor-relations/rns-news-alerts/
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180923005028/en/
XLMedia plcOry Weihswww.xlmedia.comorVigo
CommunicationsJeremy Garcia / Fiona Henson / Kate Rogucheva,
Tel: 020 7390 0230www.vigocomms.comorCenkos Securities plc
(Nomad and Joint Broker)Mark Connelly / Callum Davidson, Tel:
020 7397 8900www.cenkos.comorBerenberg (Joint Broker)Chris
Bowman / Mark Whitmore, Tel: 020 3207 7800www.berenberg.com
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