Last checked at 24 Jan 2017 07:00
For immediate release | 24 January 2017 |
XLMedia PLC
("XLMedia" or "the Group" or "the Company")
Trading update
Another year of strong trading with significant growth set to continue
XLMedia (AIM: XLM), a leading provider of digital performance marketing services, today announces a trading update for the year ended 31 December 2016.
XLMedia continued its strong performance in 2016, with revenues up 15% to $103 million (2015: $89.2 million) and adjusted EBITDA1 up 21% to at least $34.5 million (2015: $28.4 million).
Strong organic growth in the Group's publishing business, predominantly in English speaking markets and other non-Scandinavian European markets helped to increase Group revenue in FY16. During the second half of 2016, the Group continued to make positive progress in executing on its stated strategy of generating growth from non-gambling sectors such as utilities and software services. The Company was also pleased to recently announce the acquisition of Greedyrates, a financial services comparison website. Strategically, this was an important acquisition for the Group, representing the first significant publishing asset in financial services. Furthermore, the acquisition has enhanced XLMedia's offering and geographical presence and accelerated progress in this growth vertical.
DAU-UP, the Company's mobile and social media performance marketing platform, extended its activities into non-gaming apps and introduced performance based revenue share agreements for mobile apps alongside the Group's long established Cost Per Installation (CPI) model. Management continues to see performance based models as a critical sales component, contributing to successful, long term customer relationships. The Group intends to continue to build performance based models and products which align XLMedia's interests with those of its customers.
The Board believes that the Group is well positioned for further growth and the current financial year has started positively. The Board looks forward to continuing to execute on its strategic plan and looks to the future with confidence.
The Company expects to announce full year results for the year ended 31 December 2016 in March.
Ory Weihs, Chief Executive Officer, commented: "During 2016 we made significant progress having now established ourselves as a dominant player in the performance marketing arena. We continue to execute our strategic plan whilst implementing our know-how, expertise and technology in new business verticals and key end markets. We are very proud to have delivered another record year of performance in 2016 and look forward to reporting our full year results in March."
1 - Earnings before interest, taxes, depreciation and amortisation and excluding share based payments and expenses relating to acquisitions
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