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Aspire elogia la adquisición de Pariplay tras un cuarto trimestre difícil

Aspire praises Pariplay acquisition after tough Q4

Aspire Global has heaped praise on its €13.1m Pariplay acquisition, as the firm closes a strong year of growth with a weaker performance in 2019’s final quarter.

Revenue for Q4 came in at €32.2m, a two per cent decline from €32.9m a year earlier, however, a 26 per cent increase was felt across the full year as figures finished at €131.4m (2018: €104.6m), which fell in line with Aspire’s financial targets.

B2B is lauded as the main driver, rising 10 per cent to €21.2m (2018: €19.3m) during the final quarter and jumped 43.4 per cent across the year to €81.1m (2018: €56.6m), contributing 66 per cent and 62 per cent overall, respectively.

B2C also increased year over year to €50.3m, a 4.7 per cent rise from €48m, despite an 18.3 per cent decrease in the fourth quarter to €11.1m compared to 2018’s €13.6m.

EBITDA decreased 33.6 per cent to €4.4m (2018: €6.6m) on a quarterly basis, with a 2.4 per cent rise felt on a full-year basis from €21.2m to €21.7m.

Tsachi Maimon, CEO of Aspire Global, commented: “We have proven that our strategy is efficient, and we have a solid foundation to continue to expand our business through organic growth and M&A. We had a somewhat disappointing last quarter of the year due to new regulatory requirements in regulated markets, such as the UK, as well as markets to become regulated.

“Compliance is top on our agenda and we swiftly adapt to new regulatory requirements, knowing that our longer-term benefits are larger than the short-term impact. Our settlement with the Israeli tax authorities had a significant impact on net income and EPS in the quarter.

“Nonetheless, I am satisfied with the settlement as it provides the market with clarity around the outcome of the audit. The additional tax charge of €13.7m is reported as a one-off tax item.”

Securing the purchase of Pariplay in October, Aspire stressed that it allowed the firm to “control yet another crucial part of the igaming value chain,” creating synergies, broadening its game portfolio and providing a channel to distribute and sell proprietary games outside its partner network.

Maimon added: “One of the highlights in the quarter is the successful integration of Pariplay where we already have realised some of the synergies. Pariplay contributed to revenues and EBITDA in the quarter with €3m and €0.5m respectively.

“The acquisition will create further cost synergies, strengthen our market presence in B2B, serve as our first footprint in the US and generate revenue streams outside our existing partners on our platform.

“The technical integration is completed, and we are happy to have all main third-party suppliers on board from the start. During the fourth quarter, Pariplay signed two new operator deals. We expect Pariplay to generate significant growth in 2020 with a positive effect on the group’s EBITDA.”

Looking ahead Aspire stresses a commitment to continued sustainable profitable growth, as the firm vows to “enhance our multi-vertical offering” while also keeping on eye on strategic M&A opportunities. The company remains confident of meeting financial targets for 2021 of €200m in revenue and €32m in EBITDA.

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