Betsson reports a strong first quarter

Swedish gambling group Betsson AB has posted a strong Q1-2015 report, with highlights that include:

* Revenue up by 24 percent to SEK 847.4 (686.0) million – the highest quarterly revenue figure ever reported;

* Organic growth of 14 percent;

* Operating income up 39 percent y-o-y at SEK 238.0 (171.2) million;

* Operating margin of 28.1 (25.0) percent;

* Income before tax of SEK 236.4 (166.6) million;

* Net income of SEK 224.1 (157.7) million, corresponding to SEK 4.87 (3.52) per share;

* Customer deposits up 43 percent at SEK 3,173.6 (2,212.5) million;

* Gross turnover in Sportsbook up 60 percent at SEK 6,054.4 (3,780.8) million;

* Mobile revenue up 131 percent at SEK 233.3 (101.2) million; mobile revenue now constitutes 28 percent of total revenue;

* Kroon Casino was migrated to the shared technical platform Techsson;

* On 31 March, Betsson received a local gaming licence in the UK;

Magnus Silfverberg, president and CEO of Betsson, commented that the group has delivered sustainable and profitable growth of 14 percent, along with the highest operating margin of the last 12 quarters.

“These figures represent further evidence that Betsson’s multibrand strategy of migrating a number of brands to one shared technical platform provides the foundations for long-term, stable and high profitable growth. At the same time, Betsson delivers stable growth in deposits, gross turnover in Sportsbook and active customers. This is a strong indication on continued growth,” he said Friday.

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