Ambitious plans laid out by mobile gambling group

Against the background of strong organic growth and several acquisitions contributing to LeoVegas‘ expansion, the Board of Directors has adopted new financial targets for the Group, according to a company statement released Thursday.

LeoVegas is targeting at least Euro 600 million year in revenue by 2020 and at least Euro 100 million in EBITDA in the same timeframe.

Chief executive Gustaf Hagman said:

“Following our acquisitions we have now drawn up new financial targets. In 2015 we set the target to achieve Euro 300 million in revenue by 2018. The new revenue target entails a doubling to at least Euro 600 million by 2020 and does not include potential major acquisitions.

“At the same time, we are aiming for EBITDA of at least Euro 100 million, which implies adjusted earnings per share of at least SEK 8 by 2020. The new targets confirm our continued focus on strong growth combined with a sound view of profitability.

“The targets create transparency regarding where we are headed, both internally and externally,” he concluded, listing the long term objectives of the group:

* Long-term organic growth that outperforms the online gaming market;

* Long-term EBITDA margin of no less than 15 percent assuming that 100 percent of revenue will be generated in regulated markets subject to gambling tax;

* To pay a dividend of at least 50 percent of profit after tax.

LeoVegas’ financial report for the first quarter of 2018 will be published on 2 May.