Acroud sees revenue drop 18.3 per cent
The affiliate marketing business saw revenue decline to €11.6m in 2020.
Malta.- Affiliate marketer Acroud has reported revenue of €11.6m for 2020, a decline of 18.3 per cent year-on-year.
It also saw an 18 per cent decline in the number of depositing customers.
Adjusted EBITDA fell 31.8 per cent to €5.7m while adjusted profit fell 28.3 per cent to €3.2m.
Chief executive Robert Andersson said the downturn was due to “regulative effects” as the company aims to target regulated markets.
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The company said it would not pay a dividend for 2020, and will instead focus on prioritising growth initiatives. It noted that it had seen a 3 per cent rise year-on-year in depositing customers in the final quarter.
The news comes as the Malta-headquartered company, formerly known as Net Gaming, published a letter of intent to acquire an unnamed US “software-based tipster service” for €5m and to acquire the igaming assets of online marketer PMG Group.
