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Angel Hristov October 27, 2023 3 min read
Betsson Publishes Interim Report, Posts Record-Breaking Q3 Results
CEO Lindwall hinted at potential future investments
Betsson Group has published its interim report for the period between July and September, highlighting new record numbers. The company’s metrics increased across the board as it channeled more active customers toward its products.
As reported, Betsson’s group revenue for the period was EUR 237.6 million ($251 million), representing an increase of 19% and an organic increase of 39%. Casino revenue in particular increased by 27%, while sportsbook revenue increased by only 2. The sportsbook margin, meanwhile, was 7.3%.
The company’s EBITDA for the period sat at EUR 68.9 million ($72.8 million), which translates to an increase of 42%. EBITDA margin was 29%. EBIT, on the other hand, was EUR 56 million ($59 million), representing a year-on-year increase of 46%. The EBIT margin was 23.6%.
Betsson Group also reported a net income of EUR 46.2 million ($48.8 million), corresponding to EUR 0.35 ($0.37) per share. Operating cash flow for the period, meanwhile, was EUR 44.9 million ($47.44 million).
The company’s net debt at the end of Q3 was EUR -65.5 million ($69.2 million).
Last but not least, the company reported a 17% increase in the number of active customers to 1,237,238.
Lindwall Summarized Betsson’s Q3 Achievements
Pontus Lindwall, Betsson’s president and chief executive officer, commented on the results, highlighting the high customer activity, strong financial development and investments in product and new markets.
Linwall praised the increased metrics, noting that the Q3 revenue and EBIT are the highest Betsson has ever recorded. He noted that the figures include the acquisition of betFIRST.
Lindwall added that the Nordics was the only major region that failed to reflect Betsson’s high growth. In the meantime, the company continued to expand its presence, acquiring betFIRST in Belgium, launching in Serbia and obtaining a sports betting license in France.
The executive highlighted the importance of B2B to his company’s growth strategy and said that his team will continue to strengthen the B2B offering. He noted that in September Betsson supplied Bethard with its sportsbook solution.
Q3 was also an important period for the company as it saw it launch its first-ever global advertising campaign.
The theme “A bet makes the difference” focuses on the excitement and entertainment that comes from placing a bet, on sports or casino, rather than the chances of winning. The campaign is part of the marketing strategy to establish Betsson as the Group’s global main brand, aiming to achieve economies of scale and competitive advantages for the business in the long run.Pontus Lindwall, president & CEO, Betsson Group
Lindwall concluded that he is very optimistic about the rest of 2024. He hinted at possible future investments, saying that Betsson’s geographical diversification, solid balance sheet and strong cash flows provide favorable conditions for growing the company.