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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Xlmedia Plc | LSE:XLM | London | Ordinary Share | JE00BH6XDL31 | ORD USD0.000001 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.25 | -2.44% | 10.00 | 9.50 | 10.25 | 10.275 | 9.875 | 10.25 | 161,489 | 16:35:19 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Advertising, Nec | 50.96M | -47.05M | -0.1792 | -0.55 | 26.92M |
TIDMXLM
RNS Number : 9086W
XLMedia PLC
15 December 2023
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014. Upon the publication of this announcement, this information is now considered to be in the public domain.
15 December 2023
XLMedia PLC
("XLMedia" or the "Group")
Pre-close Trading Update for the Year Ended 31 December 2023
XLMedia (AIM: XLM), a leading global digital media company, provides a pre-close trading update for the year ended 31 December 2023.
On 28 September 2023 in the Company's interims results, the Company noted that it had seen a reduced level of customer acquisition marketing activity by some operators. In particular, the withdrawal of the Barstool brand (a major partner for XLMedia), from the market and the subsequent launch of ESPNbet has resulted in a significant change in the revenue profile of the Group's North American activities. The second half of the year has seen revenues earned in previous years from August through October, in part moving back to mid-November onwards.
However, following the launch of ESPNbet in mid-November the Group has benefited from an anticipated uplift in revenues and expects to deliver a strong close to the year in North America.
While there is still opportunity to generate significant revenues in the remainder of the year now that December acquisition budgets have been confirmed, it is now unlikely that this will fully compensate for mid-period shortfalls and, consequently, North American revenues will now fall below previous forecasts.
The Group's premium European brands, Nettikasinot, Whichbingo and Freebets remain on track to deliver strong year on year growth in the full year.
The Group's revenues for the full year are now expected to be in the range of $50m to $52m while adjusted EBITDA is expected to be in the range of $12m to $14m.
The Group expects to see continued progress from its European brands in 2024, while continuing to build its North American owned and operated brand and media partner footprint.
M&A Activity
Following the sale of three European Casino assets in July 2023 for a 4.7 times multiple of revenue, the board is exploring the opportunity to create shareholder value through further asset sales and has had some early discussions in that regard with potential purchasers, albeit there is no certainty that any sales will be completed. In addition, over the last few months, the Board has discussed with potential acquirors the possibility of a sale of the whole Company but it is clear that while there is demand for the assets, given the current share price, a sale of the whole Company is unlikely to create the most value for shareholders and no current discussions are ongoing in relation to this. The Board therefore does not plan to undertake the sale of the whole Company at this time.
For further information, please contact:
XLMedia plc ir@xlmedia.com David King, Chief Executive Officer via Vigo Consulting Caroline Ackroyd, Chief Financial Officer www.xlmedia.com Vigo Consulting Tel: 020 7390 0233 Jeremy Garcia / Fiona Hetherington / Kendall Hill www.vigoconsulting.com Cavendish Securities plc (Nomad and Tel: 020 7397 8900 Joint Broker) Giles Balleny / Callum Davidson www.cavendish.com
About XLMedia
XLMedia (AIM: XLM) is a leading global digital media company that creates compelling content for highly engaged audiences and connects them to relevant advertisers.
The Group manages a portfolio of premium brands with a primary emphasis on Sports and Gaming in regulated markets. XLMedia brands are designed to reach passionate people with the right content at the right time.
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(END) Dow Jones Newswires
December 15, 2023 02:00 ET (07:00 GMT)
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