Good 4th Quarter Results for Betsson
Friday February 8,2013 : MOBILE AND SPORTSBOOK STAR EARNERS IN BETSSON REPORT
On the right track says chief
Betsson delivered positive fourth quarter and year end figures driven by strong sports book and mobile growth along with a 45 percent increase in customer deposits.
Fourth quarter key performance indicators included:
– Revenues amounted to SEK 651.9 million (Q4/2011: SEK 515.2 million), equivalent to an increase of 27 percent
– Operating income amounted to SEK 173.4 million (Q4/2011: SEK 172.3 million)
– Income before tax amounted to SEK 173.4 million (Q4/2011: SEK 172.9 million)
– Net income amounted to SEK 166.9 million (Q4/2011:SEK 165.8 million), corresponding to SEK 3.95 million (4.01) per share
– Income statement is charged with a cost of SEK 39.2 million (Q4/2011: SEK 9.2 million) related to investments in newly regulated markets and software development in China. Income statement is also charged with restructuring costs amounting to SEK 5.8 (-) million.
– Gross turnover in Sportsbook, including all gaming solutions, amounted to SEK 3,782.8 million (Q4/2011:SEK 2,171.3 million), of which NGG contributed SEK 575.1 million. This represents an increase of 74 percent.
– Customer deposits in all of Betsson's gaming solutions amounted to SEK 2,154.8 million (Q4/2011:SEK 1,484.5 million), an all time hight that represents an increase of 45 percent
– Betsson's Board of Directors proposes a transfer to the shareholders, amounting to SEK 410.9 million. Assuming that the number of shares outstanding does not change the proposal involves the transfer of SEK 9.7 per share.
Full year 2012 key performance highlights include:
– Revenues increased by 27 percent to SEK 2,203.7 million (2011: SEK 1,736,6 million)
– Operating income amounted to SEK 577.1 million (2011: SEK 559.7 million)
– Income before tax amounted to SEK 573.6 million (2011: SEK 555.4 million)
– Net income amounted to SEK 547.8 million (2011: SEK 527.8 million), corresponding to SEK 13.04 (13.12) per share
"The strong organic growth of 23 percent in revenues, 30 percent in Sportsbook turnover and more than 100 percent in mobile revenues from last quarter, shows that Betsson is on the right track.
“Betsson's growth is built on historical investments, and the company continues to invest large amounts in marketing and technology, which intends to secure a future growth rate above that of the market growth," commented Magnus Silfverberg, president and chief executive officer of Betsson.
The first quarter of 2013 is already shaping up nicely as Betsson reports that customer deposits and revenues in the first five weeks of the new year have again reached an all time high driven by high activity.
