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XLM Xlmedia Plc

11.25
0.00 (0.00%)
24 May 2024 - Closed
Delayed by 15 minutes
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
  0.00 0.00% 11.25 11.00 11.50 11.25 11.25 11.25 8,990,020 07:40:37
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Advertising, Nec 73.74M -9.44M -0.0359 -3.13 29.54M

XLMedia PLC Trading Update

08/02/2024 7:00am

RNS Regulatory News


RNS Number : 3994C
XLMedia PLC
08 February 2024
 

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

8 February 2024

Icon Description automatically generated with low confidence

 

XLMedia plc

("XLMedia" or the "Group" or the "Company")

 

FY 23 Trading Update

 

XLMedia (AIM: XLM), a leading global digital media company, provides the following trading update ahead of the publication of its results for the twelve months to 31 December 2023 ("FY 23" or the "Period").

 

The Group expects to deliver revenue and Adjusted EBITDA results in line with market expectations, with FY 23 revenues expected to be c.$50m and FY 23 Adjusted EBITDA*of c.$12m.

 

As at 31 December 2023 the Group had cash at bank of $4.8m. The reduction in cash in the Period reflects deferred acquisition payments, media partner minimum guarantee payments and other exceptional costs.

 

During the Period, the Group saw the return to growth of its premium European assets (Nettikasinot, WhichBingo and Freebets.com), and also made further progress in replacing legacy technology and implementing further cost reduction measures.

 

Following a strong start to the year in the US with the launch of online sports betting in Ohio, there were significant changes in operator customer acquisition activity including the withdrawal of the Barstool Sportsbook betting brand, and the launch of ESPN BET in mid-November. Following the substantial spike in revenues in early 2022 driven by the launch of online sports betting in New York, revenues in FY 23 reflect the reduced scale of state launches in the period.

 

Current Trading and Outlook

 

2024 will see the launch of online sport betting in the state of North Carolina in mid March. North Carolina is expected to be a material market for sports betting, and XLMedia remains well placed for the launch with both owned and media partner brands. Further state launches are not currently planned during 2024, but following the US election and into 2025 we expect to see an acceleration in the legalisation of online sports betting in the remaining 20 unregulated US states, with five currently in active ballot initiatives.

 

2024 will be a year of consolidation for XLMedia. XLMedia will continue to focus on growing its premium European brands and maximising existing opportunities in the US. The Group will look to deliver additional savings to right size the business in preparation for further market growth in 2025.

 

 

Notice of Results

 

The Group will report results for FY 23 in early April 2024, at which time management will provide insight into the Group's performance for 2023 and plans for 2024. The Company will issue a Notice of Results, including details of a webcast for shareholders, nearer the time.

 

 

* Adjusted EBITDA is defined as the operating profit after adding back depreciation, amortisation, impairment, share based payments, exceptional minimum guarantee cost, restructuring costs and aborted deal related costs.

 

 

For further information, please contact:

 

XLMedia plc

David King, Chief Executive Officer

www.xlmedia.com

 

 

ir@xlmedia.com

via Vigo Consulting

Vigo Consulting

Jeremy Garcia / Fiona Hetherington / Kendall Hill

www.vigoconsulting.com

 

Tel: 020 7390 0233

Cavendish Capital Markets Limited (Nomad and Broker)

Giles Balleny / Callum Davidson

www.cavendish.com

Tel: 020 7220 0500

 

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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