Unibet online delivering

The Unibet Group announced solid Q1-2012 results this week.

Key Performance Indicators for the three month period to March 31, 2012 include:

– Gross winnings revenue up 36 per cent, amounting to GBP 51.1 million (Q1/2011: GBP 37.5 million)

– Successful completion of acquisition of Betchoice Corporation Pty Ltd for an initial
AUD 20 million (GBP 13.6 million)

– Expansion into regulated markets has resulted in a betting duty of GBP 3.0 million during the first quarter. M&A transaction costs were GBP 0.8 million and amortization of acquired assets were GBP 0.8 million for the first quarter.

– EBITDA GBP 15.3 million (Q1/2011: GBP 13.1 million)

– Profit from operations amounted to GBP 11.6 million (Q1/2011: GBP 11.2 million)

– Profit before tax amounted to GBP 11.7 million (Q1/2011: GBP 10.8 million)

– Profit after tax amounted to GBP 10.8 million (Q1/2011: GBP 10.0 million)

– Earnings per share GBP 0.381 million (Q1/2011: GBP 0.355)

– Operating cash flow before movements in working capital amounted to GBP 15.3 million (Q1/2011: GBP 13.2 million)

– Number of active customers 403 788 (Q1/2011: 328 054).

Henrik Tjärnström, chief executive officer of Unibet comments on the results:

“Unibet delivered another all-time high in Gross Winnings powered by its market-leading sportsbook, Kambi Sports Solutions, while at the same time undergoing a rapid transformation as more than 15 per cent of the gross winnings revenue in the quarter came from re-regulated markets. This development will continue through the year as Australia and Bet24 are fully integrated and our recent licence in Belgium is activated.”

“We continue to develop the business in line with our strategy and through the acquisitions of EurosportBet, Betchoice and Bet24 we are significantly increasing our exposure to re-regulated markets and at the same time taking us into major new markets outside Europe.

“These strategic developments will change our business model over time and I am confident that we are building a position to be a market-leader in the next generation online market.”

The company reports strong revenues kicking off its second quarter, an indication it says augers well for the future.