Betsson revenue record in Q2
Betsson group's revenue amounted to €236.8 million (£205.4 million/$265.4 million)
During the three months ending on 30 June, the group's revenue amounted to €236.8 million (£205.4 million/$265.4 million), marking a significant increase of 27.1% compared to the same period in 2022 when it was €186.3 million. This figure also surpassed the previous record set in Q1 of this year, €221.9 million, by 6.7%.
The operator achieved year-on-year growth in various business segments, with the Casino division being a standout performer in Q2. The revenue from the Casino segment reached an all-time high of €165.1 million, while the turnover peaked at an impressive €8.36 billion.
The Chief Executive, Pontus Lindwall (pictured), highlighted the growth in sports betting, which is expected to be further boosted by the recent acquisition of Belgium's BetFirst Group for €120.0 million. This acquisition was completed this month. Additionally, Betsson has secured a new deal with Groupe Partouche, granting them access to Belgium's online casino market. Betsson aims to launch its operations in the country before the end of the year.
CEO Pontus Lindwall emphasized that strategic initiatives such as the BetFirst deal have been instrumental in keeping Betsson competitive and driving consistent growth. He pointed out that Betsson's successful track record of profitable growth is based on diversified revenues from various products and geographic markets. The business generates robust cash flows, and its strong balance sheet facilitates new growth initiatives.
Lindwall stated, "It is the combination of investments in new markets, both organically and through acquisitions, that has consistently contributed to our strong financial performance over time."
Casino and sportsbook growth break down
Analyzing the Q1 results, the casino segment contributed to 70% of the total revenue, out of which 84% was generated through mobile platforms.
In the case of sports betting, there was a notable year-on-year increase of 12.7% in revenue, amounting to €58.5 million, and mobile platforms accounted for 85% of this revenue. Moreover, sports betting turnover saw a significant surge of 32.4%, reaching €1.31 billion.
Revenue from other products, such as poker and bingo, also showed growth, rising by 8.9% to €2.3 million.
CEECA key markets for Betsson
Analyzing the Q1 results, the casino segment contributed to 70% of the total revenue, out of which 84% was generated through mobile platforms.
In the case of sports betting, there was a notable year-on-year increase of 12.7% in revenue, amounting to €58.5 million, and mobile platforms accounted for 85% of this revenue. Moreover, sports betting turnover saw a significant surge of 32.4%, reaching €1.31 billion.
Revenue from other products, such as poker and bingo, also showed growth, rising by 8.9% to €2.3 million.
African and LatAm up
In Western Europe, revenue experienced a healthy growth of 8.8%, reaching €27.0 million. Betsson's presence in Italy contributed significantly to this growth, and the acquisition of BetFirst is expected to drive further revenue increases in the region.
However, the company has decided not to pursue operations in the Netherlands at the moment due to multiple delays in the certification process, leading to the withdrawal of its igaming licence applications.
In the rest of the world, revenue saw a substantial jump of 18.9%, amounting to €4.2 million. This increase was supported by Betsson's strategic move to increase its stake in the Nigerian-facing Betbonanza, raising it from 25% to 60% in June of the previous year.
Betsson also reported that revenue generated in locally regulated markets accounted for €85.9 million, representing 36.3% of all revenue. This percentage increased from 35.0% in Q1 of the previous year (Q1 2022).
Betsson net profits up 64%
The rise in revenue was accompanied by an increase in expenses. Total operating expenses for the quarter grew by 20.5%, reaching €108.0 million, while the cost of services jumped by 10.1% to €74.3 million.
Among the operating expenses, personnel expenses were the largest, amounting to €33.3 million, closely followed by other external costs at €33.2 million. Marketing costs in Q1 reached €31.9 million, and all other expenses also saw a year-on-year increase.
Despite these expenditures, Betsson achieved an operating profit of €54.5 million, marking a substantial increase of 86.6% compared to the previous year. After accounting for €2.4 million in finance expenses, the pre-tax profit rose by 65.9% to €52.1 million.
The company paid €5.2 million in taxes, resulting in a net profit of €46.9 million for the quarter. This figure represents a remarkable year-on-year growth of 64.0%.
Betsson YOY - 28.7% ahead of €356.4m in the previous year
Taking into account the entire first half of the year, the revenue for the six months ending on 30 June reached €458.7 million, which was a significant increase of 28.7% compared to the previous year's revenue of €356.4 million.
During H1, the casino segment's revenue experienced a remarkable surge of 36.0%, totaling €317.1 million. Meanwhile, sportsbook revenue also saw substantial growth, increasing by 15.9% to €136.7 million.
Operating expenses for the first half were 22.8% higher, amounting to €212.5 million. After including €4.5 million in finance costs, the pre-tax profit reached €93.0 million, marking a noteworthy year-on-year increase of 73.2%.
Betsson's income tax payments for this period amounted to €9.5 million, resulting in a net profit of €83.5 million, showing a considerable growth of 69.0%.
Chief Executive Pontus Lindwall expressed confidence in the company's prospects for the second half of the year, as they continue to invest in geographic expansion and further develop Betsson's offerings to maintain competitiveness in the market.
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The Betsson Group
Betsson resultados primer trimestre 2023
Resultados récord de 221,9 millones de euros
Betsson comunicó ingresos récord en el primer trimestre de su año financiero, con un crecimiento en ambos segmentos, casinos y apuestas deportivas.
El presidente y director ejecutivo, Pontus Lindwall, comentó que el crecimiento fue el resultado de la inversión en años anteriores, y que Betsson estaba cosechando los frutos de esta estrategia de inversión.
"Tener una perspectiva a largo plazo es clave en la visión de Betsson sobre cómo debe administrarse el negocio y cómo se crea valor para los accionistas", dijo Lindwall. "En los últimos años, se han realizado inversiones para expandirse geográficamente a nuevos mercados y fortalecer la oferta de productos y la posición competitiva. Podemos ver que estos esfuerzos siguen dando sus frutos".
Resultados por unidad de negocio
Los ingresos del primer trimestre alcanzaron los €221,9 millones (£196,7 millones / $245,4 millones), un aumento del 30,4% con respecto a los €170,2 millones en el mismo período del año pasado.
El casino fue la principal fuente de ingresos para Betsson en el primer trimestre, con ingresos que alcanzaron un récord de €152,0 millones, un aumento del 36,9% interanual. Esto se vio ayudado por el lanzamiento de 319 nuevos juegos de casino en el período, 16 de los cuales eran exclusivos de las marcas de Betsson.
Los ingresos de la casa de apuestas deportivas también aumentaron un 19,1% hasta los €67,2 millones, de los cuales €55,7 millones procedían de las apuestas móviles. Los ingresos de otros productos, como el póquer y el bingo, disminuyeron un 1,9% hasta los €2,7 millones.
Resultados por unidad de negocio
En cuanto al rendimiento geográfico, Europa Central y Oriental y Asia Central (CEECEA) fue la región principal del operador con €93,5 millones en ingresos, un máximo histórico ayudado por ingresos récord en Croacia, Grecia y Lituania.
Los ingresos de la región nórdica disminuyeron un 4,2% hasta los €51,9 millones, a pesar de los ingresos récord en Dinamarca, mientras que los ingresos de América Latina aumentaron un 23,1% hasta los €45,2 millones, ayudados por la expansión de las operaciones de Betsson en Argentina.
En otras regiones, los ingresos de Europa Occidental aumentaron un 22,4% hasta los €27,2 millones, con un máximo histórico de ingresos en Italia, mientras que los ingresos del Resto del Mundo aumentaron un 13,2% hasta los €4,2 millones, ayudados por el aumento de la participación de Betsson en el operador de juegos nigeriano Betbonanza en el segundo trimestre de 2022.
Gastos
En cuanto a los gastos, el coste de los servicios aumentaron un 17,9% hasta los €74,4 millones, mientras que los gastos operativos también aumentaron un 25,2% hasta los €104,5 millones. Betsson también señaló €2,1 millones en costos financieros, lo que a su vez significó que la ganancia antes de impuestos fue de €40,9 millones, un aumento del 85,9% interanual.
Betsson pagó €4,3 millones en impuestos, generando una ganancia neta para el trimestre de €36,6 millones, un aumento del 75,1% desde los €20,9 millones en el primer trimestre de 2022. Además, el EBITDA aumentó un 62,6% hasta los €54,3 millones.
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