XLMedia PLC Trading Update (3276O)
31 Janeiro 2023 - 4:00AM
UK Regulatory
TIDMXLM
RNS Number : 3276O
XLMedia PLC
31 January 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.
31 January 2023
XLMedia PLC
("XLMedia" or the "Group")
Trading Update
XLMedia (AIM: XLM), a leading global digital media company,
today provides the following trading update for the year ended 31
December 2022 ("FY 2022").
The Group expects its full year consolidated results for FY 2022
to be in line with expectations, delivering revenue of
approximately US$73.7 million (2021: US$66.5 million) and Adjusted
EBITDA(1) in the range of US$16.1 million to US$16.6 million.
Revenues from Sports and Gaming were up 27% to US$69.6 million
(2021: US$54.6 million), with Adjusted EBITDA from these core
activities of approximately US$17.5 million to US$18.0 million.
Cash balances (including short-term deposits) at FY 2022 are
expected to be approximately US$10.8 million (FY 2021: US$24.6
million), with the Group having paid US$21.4 million in deferred
acquisition and earnout payments during 2022.
The Group's Sports vertical delivered a strong performance
during the year, with revenues up 72% to approximately US$54.0
million (2021: US$31.4 million), including New York legalising
online sports betting in January 2022 and Maryland in November
2022. The Group now has North American coverage across 18 states,
including Ohio, which went live on 1 January 2023, providing the
Group with a strong start to the year, with Massachusetts expected
to go live with online sports betting in March 2023.
The Group's casino and bingo Gaming assets generated revenues of
approximately US$15.6 million (2021: US$23.2 million). The casino
business progressed the rebuilding of its sites during 2022,
delivering increasing audience, growing new depositing customers,
and building new tail revenue from its revenue share deals. As
expected, old tail revenues declined further in the year, although
overall total revenues stabilised in the second half of the
year.
Non-core revenues of US$4.1 million (2021: US$11.8 million)
included Personal Finance revenue of US$1.9 million (2021: US$8.7
million). On the 15 December 2022, the Group announced that it is
exploring the potential sale of all Personal Finance assets. This
process remains ongoing and further announcements on progress will
be made as and when appropriate.
1 Adjusted EBITDA is defined as EBITDA adjusted for Share Based
Payments and Transformation costs.
Notice of Results
Results for the year ended 31 December 2022 will be published at
the end of March 2023.
Capital Markets Day
As previously announced, the Group will hold a virtual Capital
Markets Day on the 1 February 2023, starting at 2:00pm.
To join the live webcast of the event and Q&A session,
please follow the below link to pre-register:
https://stream.brrmedia.co.uk/broadcast/639a145edc1e125e33799601
A recording of the presentation will also be made available on
the Company's website after the event on:
https://www.xlmedia.com/investors/webcasts/
For further information, please contact:
XLMedia plc
David King, Chief Executive Officer ir@xlmedia.com
Caroline Ackroyd, Chief Financial Officer via Vigo Consulting
www.xlmedia.com
Vigo Consulting Tel: 020 7390 0233
Jeremy Garcia / Kendall Hill
www.vigoconsulting.com
Cenkos Securities plc (Nomad and Joint Tel: 020 7397 8900
Broker)
Giles Balleny / Max Gould
www.cenkos.com
Berenberg (Joint Broker) Tel: 020 3207 7800
Mark Whitmore / Richard Andrews / Alix
Mecklenburg-Solodkoff
www.berenberg.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
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