Betsson rises to a challenging year
News on 20 Apr 2017
News on 20 Apr 2017
Despite a challenging year, Betsson delivered in its full Year 2016 fiscal report.
Key performance markers for the twelve month period ending December 31, 2016 include:
– Group revenues of SEK 4,117 million (2015: SEK 3,7220 million), up 11 percent.
– A 15 percent increase in gross profit to SEK 3,078.0 million (2015: SEK 2,675 million).
– Operating income grew to SEK 946 million (2015: SEK 886 million), with an operating margin of 23 percent (2015: 23.8 percent).
– Income before tax was SEK 936.0 million (2015: SEK 883 million).
– Net income amounted to SEK 878 million (2015: SEK 831.7 million), equivalent to SEK 6.34 (2015: SEK 6.02) per share.
– Registered customers grew to 10,101,045 (2015: 9,022,161), a 12 percent increase. Active customers amounted to 573,277 (2015: 526,291), an increase of 9 percent.
Online casino games remain Betsson’s largest product accounting for 70.6 percent of revenues (2015: 68.3 percent). Sportsbook now accounts for 26.2 percent of revenues (2015: 27.2 percent) and Poker 2.8 percent (2015: 3.2 percent).
“2016 was a challenging year at times for Betsson AB, particularly the second quarter when our results did not live up to our expectations, or to those of others. The second half of the year developed positively, and Betsson enters 2017 with better products, strong underlying activity and a good presence in more countries,” Ulrik Bengtsson, president and CEO of Betsson AB, said.
M&A, increasing revenues for locally regulated markets and the launch of horserace betting products across all Betsson brands are priorities identified by the company, amongst others, for 2017 and beyond.
“The significant investments that have been made in product development are already visible in the revenues from mobile casino,” Bengtsson explained. “I am convinced that Sportbook will also be very competitive in 2017 due to improved functionality and the launch of e.g. horse racing betting products. As mentioned, 2016 was a challenging year, but Betsson is much stronger today than a year ago”.
