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NEWS 20 August 2019

Aspire praises B2B performance as Q2 revenue grows 32%

By Matthew Enderby

Aspire Global saw its Q2 revenue increase 32% year-on-year to €32.8m ($36.4m), with its B2B sector contributing 60% of the total.

For H1, Aspire generated revenue of €66.6m, an increase of 53%.

Rising to €19.5m, Aspire’s Q2 B2B revenue grew 58%, while Q2 EBITDA increased 7% to €6.1m.

Despite the growth, Aspire reported earnings after tax of €4.2m, a drop of 21%.

During Q2, Aspire announced the acquisition of game aggregator platform Pariplay, for approximately €13.1m in cash.

It said this deal was aimed at accelerating B2B growth and is expected to be completed in Q3.

For H1, the company's B2B revenue rose 77% to €39m, constituting 59% of overall revenue.

Aspire’s EBITDA was €12.1m for the period, up 44%.  

In the last six months, Aspire has seen its share price fluctuate from a peak of SEK 53.30 ($5.48) on 21 May, to a low of SEK 37.75, reported after its Q2 financial update.

Tsachi Maimon, Aspire Global CEO, said: "I am very proud of the strong progress for our B2B business, currently constituting around 60% of total revenue and almost 70% of EBITDA.

"This is the result of our consistent strategy to focus efforts on the right B2B partnerships, all while improving our offering and optimising the business set-up."

RELATED TAGS: Online | Industry | Mergers & Acquisitions | Financial
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