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NEWS 16 March 2018

XLMedia posts record-breaking results for 2017

By Caroline Watson

In an update to investors, XLMedia has published its full-year 2017 financial results, posting another record-breaking set of figures.

The affiliate marketing firm’s revenues increased by a whopping 33% to $137.6m in comparison to the year prior, with gross profit rising to $73.1m, up 37% from 2016.

Ory Weihs, Chief Executive Officer of XLMedia, commented: “We are delighted to have delivered another record performance for the Group, underpinned by our clear strategic vision.

“Our recent entry into the personal finance sector is already delivering tangible benefits with potential for further upside, while the core activities continue to deliver solid growth.”

The past 12 months have been very busy for the company, after acquiring a number of leading Finnish gambling related informational websites from Good Game Ltd, for a total consideration of up to €15m.

Furthermore, the company continued to focus on its presence in the growing Romanian market after it completed the acquisition of a Romanian portfolio of publishing assets.

Weihs adds: “Elsewhere, core markets continue to perform well, and alongside the acquisitions and ongoing investment in technology, we are confident these will generate significant returns.

“Further to the fundraising completed in January, we believe we will be able to capitalise on our acquisition pipeline in addition to growing the business organically. The Board remains focused on continuing to deliver further progress and shareholder value.”

RELATED TAGS: Financial | Industry | Affiliate
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