XLMedia looks beyond gambling for continued growth
AIM-listed firm hails diversification plan following 15% jump in 2016 revenues
Digital marketing firm XLMedia has hailed its new strategy of expanding beyond online gambling, following a 15% rise in 2016 revenues to $103m (£82m).
Adjusted EBITDA also grew 21% year-on-year to at least $35m (£27m), thanks to growth from sectors such as utilities, financials and software services.
As part of the strategy, XLMedia extended its DAU-UP marketing platform into non-gaming apps and acquired Greedyrates, a financial services comparison website.
The group also reported “strong organic growth” in its publishing business in English-speaking and non-Scandinavian European markets.
“During 2016 we made significant progress having now established ourselves as a dominant player in the performance marketing arena,” Ory Weihs, XLMedia CEO said.
“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.”