Aspire Global sees flat Q1 2020 revenue reach €33.7m
Online operator details European and US expansion roadmaps in financial report
Aspire Global has recorded flat Q1 2020 revenue of €33.7m representing a 1.5% rise year-on-year from €33.2m.
EBITDA fell 14.2% to €5.2m from €6.1m, while post-tax profit, amounting to €2.4m, decreased nearly 50% from Q1 2019 (€4.1m).
Despite stagnation year-on-year, Aspire has seen revenue grow 4.6% from Q4 2019 to Q1 2020 and EBITDA has shot up by 19.7% quarter-to-quarter.
Total trading volumes for April alone increased to around €13.5m which is approximately 20% more than the average monthly trading volume for Q1 2020.
The firm also pointed to 35% revenue growth in the UK & Ireland from Q4 2019, as well as further European expansion for its B2B product in Romania and Portugal.
Aspire CEO Tsachi Maimon noted the impact of Covid-19 on operations was minimal and championed measures taken to protect the business.
Maimon said: “The world is going through challenging times during the pandemic. Early in the quarter, we took proactive measures to reduce the health risks for 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,” he added.
Maimon went on to discuss Aspire’s expansion plans, which include licence applications and market penetration in both Europe and the US.
He continued: “A key part of our growth strategy is geographic expansion. We are preparing ourselves for licence applications in the Netherlands Q1 2021 and in Germany Q3 2021.
“We are also preparing to launch our games and aggregation platform in four new markets in 2020. We will be targeting Italy and Spain in Q2 2020 and New Jersey and Switzerland in Q3 or Q4 2020. I am especially excited by the opportunities in the huge US market,” he concluded.