Revenues increased 40% to $51m, with adj EBITDA at $17.7m and PBT at $15.8m
Companies: XLMedia Plc
Performance marketing specialist XLMedia released strong interims this morning, with revenues in the first half of the year increasing 39% to $51.2m, up from $36.8m in 2015, in what is another period of record revenues for the company.
XLM's gross profit increased to $27m, +47% year-on-year, with adj EBITDA of $17.7m (+37%), and PBT of $15.8m (+20%). The company has a strong balance sheet with $42.9m in cash and short-term investments, leading it to announce a massive 47% increase to its interim dividend to 3.82 cents per share.
Today's results also highlighted significant strategic achievements for the group, who made progress in client diversification (the Group's largest customer now accounts for just 7% of its revenues), in geographic diversification (33% of revenues from Scandinavia, 25% from the rest of Europe, and 21% from North America), and diversification of its sector base (gambling now accounts for 71% of revenues).
The group invested $2.2m in technology during the period, following management's belief that advanced technology provides a "significant competitive advantage" to drive growth:
"We will continue to invest in our technology to remain at the forefront of what is available and to enable us to capitalize on the opportunities it presents us with."
Ory Weihs, CEO of XLMedia, said he believed the group had established a strong foundation which will drive the business to maximise the growth opportunities across its markets:
"During the first six months of the year we continued to develop the business and invest in our technology platform and mobile capabilities, which further underpin our key revenue and profit drivers. Dauup (EDM), was named Facebook Marketing Partner for ad technology, an important step which further strengthens our position and technological competitive advantage.
"We recently established a US subsidiary which will lead the Group's development in this important territory, with a key focus being mobile applications marketing. US mobile advertising growth is accelerating, and presence in this important territory will drive our growth in mobile apps and additional verticals.
