Betsson Group published its year-end report 1 January – 31 December 2023 with a very positive performance. "A new record year for Betsson ended with continued high customer activity and record-strong figures in the fourth quarter," commented CEO Pontus Lindwall.
Full year highlights:
* Group revenue was EUR 948.2 (777.2) million, an increase of 22%. Organic increase of 40%.
* EBITDA was EUR 262.7 (172.4) million, an increase of 52%. The EBITDA margin was 27.7% (22.2%).
* Operating income (EBIT) was EUR 210.5 (131.2) million, an increase of 60%. The EBIT margin was 22.2% (16.9%).
* Net income was EUR 173.0 (114.7) million, corresponding to EUR 1.29 (0.87) per share.
* Operating cash flow was EUR 230.4 (178.7) million.
* The Board of Directors proposes to the AGM that EUR 88.5 (59.7) million, corresponding to EUR 0.645 (0.436) per share, should be distributed to shareholders through an automatic share redemption program in two installments.
“When we sum up the jubilee year 2023, we can look back on a new record year for Betsson. Several important strategic initiatives were taken to strengthen the product offering, manage risks through geographic diversification, and to create the conditions for continued profitable growth with an increased share of revenues from locally regulated markets,” Lindwall commented.
“The high customer activity continued during the fourth quarter with new record levels in customer deposits and gaming turnover in both casino and sports betting.”
“Once again, the group reports the highest levels ever for revenue and operating profit, marking the eighth consecutive quarter of sequential growth. The growth rate compared to the fourth quarter of the previous year should be viewed in light of the fact that the comparative period included the World Cup in football.”
Regarding 2024, he highlights: “Peru and Brazil are expected to introduce licensing systems for online gaming and Betsson is preparing to apply for gaming licenses in these markets.”
“I look forward to 2024 with confidence. Betsson is well positioned for continued value creation thanks to a strong financial position, proprietary technology, an attractive customer offering and – above all – our employees. I would like to thank our employees for all their great efforts in 2023 and also extend my gratitude to our shareholders for the trust they have shown,” Lindwall concluded.
Source: GMB
