Betsson delivers interim report

Online gambling firm Betsson AB delivered good results in its latest financial report despite a decline in poker and the percentage contribution its casino division contributes to the Group’s total gross profit.

Key performance indicators over the second quarter period ending June 30, 2013 include:

–     Revenues amounting to SEK 579.2 million (Q2/2012: SEK 486.2 million), up 19 percent.
–     Operating income of SEK 137.8 million (Q2/2012: SEK 109.5 million), an increase of 26 percent.
–     Gross profit in the Sportsbook including all gaming solutions of SEK 3,447.6 million (Q2/2012: SEK 2,744.8 million), up 26 percent.
–     Income before tax of SEK 137.5 million (Q2/2012: SEK 110.9 million), an increase of 24 percent.
–     Net income of SEK 128.3 million (Q2/2012: SEK 105.4 million), corresponding to SEK 2.95 (Q2/2012: SEK 2.54) per share.
–     Deposits in all of Betsson’s gaming solutions amounted to SEK 2,017.8 million (Q2/2012: SEK 1,509.5 million), equivalent to an increase of 34 percent.
–     Total customer deposits of SEK 1,445.9 million (Q2/2012: SEK 1,097.8 million) was deposited. Deposits in all of Betsson’s gaming solutions amounted to SEK
–     Number of registered customers was 6.4 million (Q2/2012: 5.4 million).

Second quarter results per sector:

–     Gross profit in Casino during the second quarter amounted to SEK 316.0 million (Q2/2012: SEK 303.1 million).
–     Casino represents 66 percent of the Group’s total gross profit, down from the same period last year where it represented 74 percent.
–     Gross turnover in Sportsbook, in all gaming solutions, amounted to SEK 3,447.6 million (Q2/2012: SEK 2,744.8 million), an increase of 26 percent.
–     Gross turnover in Live betting in Sportsbook, in all gaming solutions, was SEK 2,393.2 million (Q2/2012: SEK 1,904.8 million) – also up 26 percent.
–     Margin after free bets in all gaming solutions in Sportsbook amounted to 6.5 percent (Q2/2012: 4.6 percent).
–     Gross profit in Sportsbook totaled SEK 126.6 million (Q2/2012: SEK 68.9 million), an increase of 83 percent.
–     Gross profit in Sportsbook includes SEK 67.6 million (Q2/2012: SEK 39.5 million) regarding licensing revenues and gaming contributions to gross profit from B2B.
–     Sportsbook’s share of the Group’s gross profit amounted to 26 percent (Q2/2012: 17 percent).
–     Gross profit in Poker during the quarter came in at SEK 22.0 million (Q2/2012: SEK 25.4 million).
–     Gross profit in other products amounted to SEK 18.1 million (Q2/2012: SEK 9.8 million).

Key performance indicators of the First Half 2013 include:

–     An increase in revenues of 19 percent to SEK 1,217.9 million (H1/2012: SEK 1,022.2 million).
–     Operating income of SEK 298.9 million (H1/2012: SEK 283.5 million).
–     Income before taxes amounting to SEK 297.5 million (H1/2012: SEK 281.9 million).
–     Net income of SEK 280.2 million (H1/2012: SEK 267.7 million), corresponding to SEK 6.49 (H1/2012: SEK 6.41) per share.

Magnus Silfverberg, president and chief executive officer of Betsson commented on the results saying:

”Betsson continues to make investments in order to optimize its operations. During the second quarter a successful migration of Betsson.com to the common platform was executed. After this, the majority of Betsson’s revenues are generated on the new platform. This has strengthened the mobile offering and enables an advanced further development of the gaming experience as well as cost-efficient operations. At the same time Betsson delivers stable organic growth and one of the market’s strongest profit margins.”

Related and similar