Aspire Global on track to meet 2020 targets one year ahead of schedule
Aspire Global is expecting to meet the financial targets for 2020 one year ahead of schedule and is now updating its mid-term financial targets in line with the company’s ambition for the coming three-year period.
The new financial targets for 2021 are revenues of €200 million and an EBITDA of €32 million, excluding material acquisitions, with a raised target for the EBITDA-margin from 15% to 16%.
As communicated in the interim report for the third quarter, Aspire Global is expecting to reach mid-term financial targets organically already in 2019 as revenues are approaching the €120 million set out for 2020. The past year’s strong progress is the result of a more streamlined platform, stronger partnerships and a broader offering, according to the growth strategy. Moreover, the increased exposure since the listing as well as the consistent focus on regulated markets has enabled exciting business opportunities, increased competitive advantages and enabled a sustainable growth.
The board has updated the financial targets in line with the company’s ambition for the coming three-year period. According to the new targets for 2021, Aspire Global is expecting to reach revenues of €200 million in 2021 and an EBITDA of €32 million, excluding material acquisitions. This corresponds to an EBITDA-margin of 16%, compared to 15% in previous targets. The strategy remains focused on B2B and B2C, but also on game development – a hidden asset in the company. Aspire Global will continue to pursue strong growth, both organically and through acquisitions, with a consistent focus on improving the offering, strengthening partnerships and seizing attractive opportunities in regulated markets.
As some of Aspire Global’s existing markets are expected to be regulated by 2021, the new financial targets are adjusted for increased gaming duties. Aspire Global considers the company to be fully financed to execute on its business plan while continuing to pursue an active acquisition strategy.
“Over the past year, Aspire Global has delivered strong organic growth with maintained profitability. We are proud of this performance and equally pleased to raise the bar for the coming period. We see great opportunities for a company with our profile and we will continue to pursue organic growth in the changing landscape, all while searching for potential acquisitions”, says Tsachi Maimon, CEO of Aspire Global.