Following excellent first-half trading in 2021, XLMedia Plc expressed confidence in meeting its full-year financial projections and corporate objectives.
The London AIM-listed digital publisher predicts interim revenues of $32 million, up 15 percent from H1 2020 results of $27.7 million, according to its H1 trade report (period ending 30 June).
The company’s success has been boosted by its personal finance unit’s “consistent performance” and its European sports betting portfolio’s “record organic growth period.”
The expansion of the two businesses has helped XLMedia overcome a revenue drop in its online gambling network, which is still adjusting to a smaller publishing base due to “deteriorating tail revenues.”
As a result, XLMedia expects to generate EBITDA of around $2.9 million (H1 2020: US$3.5 million) and adjusted EBITDA of around US$7.0 million (H1 2020: US$5.1 million) in the first half of 2020.
XLMedia has begun a variety of US-focused marketing campaigns, aiming to boost traffic levels to newly acquired websites as the company enters the crucial H2 trading period.
XLMedia is continuing its strategic transformation, which will see the publisher organised around its “vertical markets,” which will be supported by a distributed shared services model.
An XLMedia statement read: “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.”
XLMedia will maintain its goal of reducing corporate staff by 15 percent while operating on an agile business model and enhancing group cost controls as a result of the reorganisation.
XLMedia’s trading statement concludes with a reaffirmation of its earlier May guidance that full-year corporate sales in 2021 will be in the range of $65 to $70 million.