Super Group Reports Best Q4 in History in 2023, Shares Jump

The NYSE-listed international digital gaming company that offers first-class entertainment to the betting and gaming world, Super Group, has announced its financial reports for the full year 2023 and the fourth quarter of 2023.

With a guidance-exceeding record revenue of €1.4 billion ($1.52 billion) for 2023 and the highest total revenue registered during a fourth quarter in the company’s history at €359.9 million ($392.17 million), Super Group saw its shares trade 11% higher on March 6.

Q4 Results in the Spotlight

The holding company for leading global online sports betting and gaming businesses Betway and Spin has reported a revenue boost of 9% in Q4 2023, from €329.1 million ($358.6 million) in the same quarter of 2022 to the previously mentioned €359.9 million ($392.17 million). 

The group also recorded a 15% revenue rise via currency to €378.4 million ($412.3 million). In 2022, the group recorded €21.1 million ($22.9 million) profit before tax. In Q4 2023, Super Group announced a €44.9 million ($48.9 million) loss before tax.

The operational EBITDA was €36.2 million ($39.4 million) in Q4 2023 compared to €42.3 million ($47 million) in 2022. The group also reported 4.7 million average customers a month in Q4 2023 from 3.4 million in Q4 2022, marking a 38% rise.

Highlights for the Full-Year 2023 

As mentioned at the start of the article, Super Group’s revenue went up 11% from 2022’s €1.3 billion ($1.4 billion) to €1.4 billion ($1.5 billion) for 2023. 

The revenue increase using currency was 19%. Last year, the group recorded €16.8 million ($18.3 million) profit before tax, from 2022’s €216.5 million ($235.9 million). 

For the full year 2023, Super Group announced operational EBITDA of €197.3 million ($215 million) from €208.5 million ($227.2 million) in 2022. 

As for the number of monthly average customers recorded in 2023, the group reported a 4 million figure from the 2.8 million reached the previous year, signaling a 43% increase.

As of December 31, 2023, unrestricted cash was €241.9 million ($263.6 million) from €254.8 million ($277.7 million) in 2022. The drip in cash was mostly determined by the acquisition of DGC and a few connected technology strategies.

Chief executive officer Neal Menashe praised the tremendous strides made by the group in 2023, expressing delight for having achieved “an all-time revenue record” while calling Q4 2023 “particularly strong” despite the challenging start.

The group’s chief financial officer, Alinda van Wyk, commented that the fact that they surpassed their guidance “in the face of multiple headwinds” was an indication of their strong focus on growth investment and cost efficiency.