Positive Svenska Spel report
News on 15 Feb 2013
News on 15 Feb 2013
Swedish state-owned gaming concern Svenska Spel reported a 2.6 percent net profit at the close of its 2012 fiscal year but said it could have done better if not for extensive marketing for similar forms of gambling by unlicenced operators.
Lennart Käll, chief executive officer of Svenska Spel said the company showed its best operating profit ever with good performances in lottery, number and sports games across both its retail and online divisions.
Key performance highlights FY 2012 include:
– Net Profit of SEK 5,138 million, up SEK 132 million over 2011 or 2.6 percent.
– Net gaming revenue for the group rose to SEK 9,815 million (FY2011: SEK 9,687 million), an increase of 1.3 percent.
– Operating profit for the Group was SEK 5,083 million (FY2011: SEK 4,940 million), an increase of 2.9 percent.
– Operating margin was 22.0 percent (FY2011: 21.9 percent).
Fourth quarter from October to December include:
– Net gaming revenue for the group rose to SEK 2,707 million (Q4/2011: SEK 2,689 million), an increase of 0.6 percent.
– Operating profit for the Group was SEK 1,439 million (Q4/2011: SEK 1,356 million), an increase of 6.1 percent.
– Profit for the Group was SEK 1,459 million (Q4/2011: SEK 1,378 million), an increase of 5.9 percent.
– Operating margin was 23.0 percent (Q4/2011: 21.9 percent).
Svenska Spel’s estimated fourth quarter market share was 49 percent, slightly lower than full year 2011. Online share continued to decline said the company because of the rapid growth of unlicenced online gambling operators.
