2017 was Mr Green’s most successful year ever
News on 9 Feb 2018
News on 9 Feb 2018
Mr Green reported its most successful year ever in full year results released Friday, saying revenues exceeded annual growth targets of 20 percent for the fifth consecutive quarter.
Key performance highlights include:
Group revenue increased 28.9 percent to reach SEK 1,192 million.
Strong customer growth and record-high customer deposits. Active customers increased 24.6 percent to 297,667 (238,822). Customer deposits rose by 28.6 percent to SEK 3,468.3 million (2016: SEK 2,696.5 million.
The strong growth in revenue was the result of digitally driven customer communication, enhanced entertainment value and a new, unique product offering. Casino games and live casino were the primary growth drivers.
Revenue in Western Europe rose 63.5 percent to SEK 489.3 million (2016: SEK 299.2 million).
Revenue for Central, Eastern and Southern Europe increased 14.4 percent to SEK 285.7 million (2016: SEK 249.6 million), with healthy growth in Austria.
Revenue in the Nordic region increased 10.2 percent to SEK 390.3 million (2016: SEK 354.2 million) due to growth in Sweden and Finland and the new market in Denmark via the acquisition of Dansk Underholdning.
Revenue in the rest of the world rose 24.9 percent from a small base to reach SEK 26.7 million (2016: SEK 21.4 million).
Revenue from markets where Mr Green pays or makes provisions for betting duties increased by 39.1 percent to SEK 648.8 million (2016: SEK 466.4 million) during the year. The markets included are Denmark, Italy, Ireland, Malta, the UK, Germany and Austria.
Total betting duties including interest rose 37.3 percent to SEK 182.3 million (2016: SEK 132.8 million). As a proportion of revenue, total betting duties increased by 0.9 percentage points to 15.3 percent (2016: 14.4 percent) of revenue. Most, or 10.4 percent (2016: 10.2 percent) of revenue comprised betting duties including interest in Austria.
Marketing costs rose 20.0 per cent to SEK 403.9 million (2016: SEK 336.4 million).
In 2017, EBITDA increased 103 percent to SEK 185.6 million (2016: SEK 91.4 million). The improvement in profitability was mainly due to strong revenue growth and enhanced marketing efficiency.
EBIT increased 508 percent to SEK 116.0 million (2016: SEK 19.1 million).
“I can now state that 2017 was Mr Green’s most successful year ever,” Per Norman, chief executive officer of Mr Green, said highlight growth of 28.9 per cent and a 103-per cent improvement in EBITDA.
