B90 Holdings has reported it maintained positive EBITDA for six consecutive months since the start of 2024 in its latest trading update.
The affiliate stated that its turnaround strategy has proceeded well so far and is expected to be in line with current market forecasts.
B90 also reported that it experienced a successful Euros 2024 campaign with the tournament having provided an opportunity to engage with key audiences.
The affiliate’s focus for the remainder of 2024 will be to expand B2B partnerships, enhance digital marketing capabilities and maintain costs to drive profits and long-term revenue growth.
Ronny Breivik, executive chairman of B90 Holdings, said that the last six months have been “transformative” for the company after its EBITDA feat, which marks a significant milestone as we build a strong foundation for sustainable growth”.
“I am confident that our continued focus on B2B operations and strategic investments will drive long-term growth and value for our shareholders.”
Breivik went on to add that the shift from a B2C to a B2B focus was key to the company’s transformation, along with the relaunch of Bet90.com as an affiliate website. The executive chairman also mentioned how new partnerships have proved crucial this year.
“We have established over 200 partnerships with major industry players, enhancing our market presence and value proposition. Additionally, the appointments of industry heavyweights such as Andrew McIver and the support of our strategic adviser, Mark Blandford have bolstered our market oversight and operational capabilities.”
Back in May, the company posted a revenue for 2023 of €3m (£2.57m/$3.26m) which was a 42.8% rise from 2022’s €2.1m. However, net loss also increased from €4.3m to €5.5m due to impairment charges related to the website, financial treatment of the convertible loan note, increased expenses and additional marketing spending.