LeoVegas hails record Q3 performance

Mobile gaming operator LeoVegas has reported a record high in revenue and a 25 percent EBITDA margin in its Q3 2016 report. The company said growth in its mobile casino and the launch of its live casino and sportsbook had driven the record high.

Key performance indicators for the 3-month period ending September 30, 2016 include:

– Revenue growth of 76 percent to Euro 39.7 million (Q3/2015: Euro 22.6 million).

– EBITDA amounted to Euro 9.8 million (Q3/2015: 1.1 million), corresponding to an EBITDA margin of 24.7 percent (Q3/2015: 4.9 percent).

– Operating profit (EBIT) was Euro 9.4 million (Q3/2015: Euro 0.9 million).

– Earnings per share were Euro 0.09 both before and after dilution (Q3/2015: Euro 0.01).

– Mobile deposits accounted for 67 percent (Q3/2015: 58 percent) of total deposits, which grew 87 percent to Euro 123.7 million (Q3/2015: Euro 66.3 million).

– Depositing customers increased 77 percent to 156,389 (Q3/2015: 88,290).

– New depositing customers amounted to 74,638 (Q3/2015: 42,378), an increase of 76 percent.

– Returning depositing customers grew 78 percent to 81,751 (Q3/2015: 45,912).

Key performance indictors for the nine-month period ending September 30, 2016, include:

– Revenue growth of 76 percent to Euro 100.2 million (9M/2015: Euro 57 million). Growth being entirely organic.

– EBITDA amounted to Euro 6.1 million (9M/2015: Euro 0.8 million).

– EBITDA adjusted for items affecting comparability was Euro 11.3 million (9M/2015: Euro 0.8 million), corresponding to an adjusted EBITDA margin of 11.3 percent.

– Operating profit (EBIT) was Euro 5.1 million (adjusted for items affecting comparability was Euro 10.4 million (9M/2015: Euro 0.3 million), corresponding to an adjusted EBIT margin of 10.3 percent).

– Earnings per share were Euro 0.05 (9M/2015: Euro 0.00) before dilution and Euro 0.04 (9M/2014: Euro 0.00) after dilution.

“Strong momentum in growth and earnings resulting from a consistent focus on mobile devices, our technology lead, effective marketing investments and strong customer inflow during the preceding quarter,” Gustaf Hagman, group chief executive officer and co-founder, commented.

Hagman revealed continued success into the fourth quarter saying net gaming revenue in October totaled Euro 12.8 million, growth of 63 percent over the same period last year.

“With strong momentum, new gaming categories and a leading position in mobile gaming, we look forward to an eventful winter”.