Betting software group Aspire Global has announced their first half 2019 financial results, revealing that B2B revenues surged 76.5% during the period.
Key financial indicators for the first half ending June 30th, 2019 were:
- B2B deposits up from €40.7 million to €74 million
- B2B transactions up to €1.27 billion
- B2B revenues up to €43 million
- B2C revenues up to €27 million
- First-time deposits up 15.3% to €75.3 million
- Active users up from 98.5 million, up from 119.5 million
- Nordic revenues of €13.4 million
- UK and Ireland up to €9.7 million
- European revenues up to €41 million
- Rest of the world revenues up to €1.9 million
- Distribution expenses up 69.2% to €42.8 million
- Gaming duties up to €2.4 million
- Administrative expenses up to €7 million
- Total expenses up 54.4% to €52.1 million
- EBITDA up 43.3% to €12.1 million
- Financial expenses up 107% to €2.1 million
- Net profit up 21.3% to €9.1 million
Speaking about the results Aspire Global CEO Tsachi Maimon 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 our efforts on the right partnerships, all while improving our offering and optimizing the business set-up. It is certainly gratifying to see the results of our hard work being reflected in many of our KPIs."
"We will continue to focus on B2B, entering additional new markets and extending the offering for some of our main brands to include more than one vertical. We are also excited about the upcoming launches together with our recent partners, one of which is Apex Marketing and the other is Codere Group who will be expanding their online offering to Northern Europe over our platform."