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Unibet 2011 Results
Wednesday August 10, 2011 : Profit down due to exit of French market and World Cup adjustment
Swedish online gambling operator Unibet Group plc continued to show the impact of its French market withdrawal and comparisons to the World Cup 2010 period in the company's Q2/2011 and HY1/2011 results.
The company's online Maria brand performed strongly delivering record gross winnings revenue up over 35 percent compared to last year with growth in Casino and Games products now accounting for 60 percent of the brands revenue.
Poker continues to deliver disappointing results for the company.
Key Performance indicators for the Quarter 2/2011 period include:
• Gross Winnings Revenue amounted to GBP 34.3 million (Q2/2010: GBP 39.2 million).
• Profit from operations amounted to GBP 7.3 million (Q2/2010: GBP 8.4 million)
• Profit before tax amounted to GBP 7.2 million (Q2/2010: GBP 10.0 million).
• Profit after tax GBP 6.7 million (Q2/2010: GBP 9.1 million)
• Number of active customers for the quarter was 301,038 (402,091).
Key Performance Indicators for the first half year 2011 include:
• Gross Winnings Revenue amounted to GBP 71.8 million (HY1/2010: GBP 81.0 million).
• Profit from operations amounted to GBP 18.4 million (HY1/2010: GBP 19.0 million).
• Profit before tax amounted to GBP 18.0 million (HY1/2010: GBP 20.3 million).
• Profit after tax amounted to GBP 16.7 million (HY1/2010: GBP 18.6 million).
Henrik Tjärnström, CEO, Unibet commented on the results:
“I am pleased to report another quarter of strong underlying results. Excluding the additional effect of the World Cup in 2010 and adjusting both for France (22 percent of overall revenue in Q2/2010) and for the positive currency benefits in 2011, Unibet’s underlying growth in gross winnings revenue was 16 percent year-on-year.
“During the first half of 2011 we have assessed a number of possible acquisition targets in line with our strategy to focus on opportunities for controlled growth in new regions with potential for long-term profitability. We continue to evaluate potential consolidation or growth opportunities while keeping a strong focus on the core business.”
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