M&A boosts XLMedia revenues
AIM-listed egaming marketing group says recent acquisitions will see revenues exceed market expectations
Egaming marketing firm XLMedia says it expects to post revenue growth of around 43% following a year of “strong organic growth” and M&A activity.
In a trading update for the 12 months ended 31 December 2014, the company said annual group revenues would reach at least US$49.5m with adjusted EBITDA of $16.6m, a 24% increase on the previous 12 months.
Last year the AIM-listed firm completed two major acquisitions in the sector, including a deal for an unnamed sports betting affiliate in August in a deal worth approximately $6.7m.
In September the company also bought social and mobile gaming marketing firm ExciteAd Digital Marketing (EDM) for $19m and XLMedia said both acquisitions had since performed ahead expectations.
“We are delighted with the strong financial performance of the Group, highlighting the significant strategic progress we have made over the past year,” Ory Weihs, CEO of XLMedia, said.
“Since our IPO in March we have worked hard to execute our growth plans,” he added. “I am happy to see the results of the efforts of our very talented team which delivered our planned growth, whilst also diversifying our business and building strong foundations for the future.”
The firm said it aims to further diversify the business in 2015 after ramping up its presence in new sectors and markets including the UK and the US which now accounts for 21% of Group revenue.
XLMedia will announce its full-year 2014 financial results in March.