XLMedia reveals preliminary growth in first half

XLMedia has cited its ongoing strategic plan and focus on diversification as key reasons behind year-on-year financial growth in the first half of the year.

In a trading update, the marketing services company said that revenue in the six months through to June 30 totalled $51 million (€46.4 million), with gambling responsible for 70% of this amount.

Scandinavia continues to serve as XLMedia’s main source of income, bringing in 48% of total revenue, down slightly from 51% in the first half of last year.

European countries contributed 29% of overall revenue, with North America responsible for 17% in the six-month period.

XLMedia also said earnings before interest, tax, depreciation and amortisation in the first half increased from $12.9 million last year to $17.0 million.

Ory Weihs, chief executive, said: “We continue to execute our strategic plan and further diversify our business.

“The company’s position as a leading performance marketing company is allowing us to implement our know-how, expertise and technology as well as to further expand into additional verticals and markets.
“We continue to invest in developing more tools and systems to strengthen our competitive advantage and look forward to reporting our full half-year results.”

XLMedia will announce its full first-half results in September.

Related article: XLMedia claims record-breaking year as key financials soar