Aspire Global has reported a 1.5% revenue increase in Q1 to €33.7 million. Revenue growth for the first quarter was driven by the supplier’s B2B business.

EBITDA margin amounted to 15.5% (18.3%) and increased two percentage points from Q4. Earnings after tax amounted to €2.4 million.

Tsachi Maimon CEO said, the good growth and improved profitability in Q1 2020 from Q4 2019 are encouraging and prove our business model to be efficient with a strong offering. Revenues increased by 4.6% from Q4 2019 with a substantial profitability increase as the EBITDA margin grow from 13.5% to 15.5%. In the quarter we saw limited impact from the pandemic.

However, as a consequence of the pandemic, players choose online entertainment over landbased, and in April total trading volumes increased to about €13.5 million, which is about 20% higher than the average monthly trading volume in Q1 2020.

The world is going through challenging times during the pandemic. Early in the quarter we took proactive measures to reduce the health risks for the employees and to ensure business continuity. Thanks to a robust underlying business and dedicated employees, service levels remained high. The impact from the cancellation of sports events was insignificant due to a limited exposure to sports and in Q4 2019 sports betting represented about 5% of total revenues. The sequential improvement is mainly due to a strong business momentum.

It is encouraging to see that we have mitigated the impact in Q4 2019 from new regulatory requirements in markets such as the UK and from Q4 2019 revenues in the UK and Ireland increased by 35%. Compliance is on top of our agenda and we know that this is a key competitive advantage.