Wednesday February 13,2013 : UNIBET BUOYANT ON 2012 RESULTS
Higher betting duties and compliance costs offset by re-regulated markets
Unibet Group PLC reported a strong finish to 2012 that it says is maintaining momentum in 2013 with early indicators reporting 20 percent organic growth in gross winnings revenue.
Despite absorbing betting duties of GBP 3.6 million, the company reports all-time-highs in active customers, gross winnings revenue and EBITDA in the fourth quarter.
Key performance indicators for the fourth quarter period and full year 2012 include:
– Gross Winnings Revenue of GBP 56.9 million (Q4/2011: GBP 44.7 million) and GBP 197.2 million (FY2011: GBP 154.4 million) for the full year 2012.
– EBITDA was GBP 16.8 million (Q4/2011: GBP 14.9 million). EBITDA for the full year 2012, was GBP 52.5 million (FY2011: GBP 48.0 million).
– Profit from operations amounting to GBP 12.6 million (Q4/2011: GBP 12.1 million) and GBP 35.1 million (FY2011: GBP 38.8 million) for the full year 2012.
– Profit before tax of GBP 12.1 million (Q4/2011: GBP 11.9 million. Profit before tax for the full year 2012 amounted to GBP 34.2 million (FY2011: GBP 38.1 million).
– Profit after tax amounting to GBP 11.8 million (Q4/2011: GBP 11.3) million. Profit after tax for the full year 2012 amounted to GBP 31.6 million (FY2011: GBP 35.5 million).
– Earnings per share was GBP 0.421 (Q4/2011: GBP 0.407) and GBP 1.132 (FY2011: GBP 1.270) for the full year 2012.
– Operating cash flow before movements in working capital amounted to GBP 16.9 million (Q4/2011: GBP 15.0 million) and GBP 51.1Million (FY2011: GBP 48.5 million) for the full year 2012.
– Number of active customers at the end of the quarter was 491,958 (Q4/2011: 400,697).
– Board of Directors proposes a dividend of GBP 0.700 (GBP 0.580) per share/SDR, amounting to a proposed distribution to shareholders of GBP 19.6 million (GBP 16.0 million).
“The gaming market is increasingly divided into those who embrace the opportunities and challenges provided by re-regulation and those who don’t. Strong growth in Denmark, Belgium and Italy show that the opportunity provided by re-regulation in Unibet’s core markets helps to offset the short-term impact of higher betting duties and compliance costs.
“Unibet takes a lead in working with regulators and other official bodies to develop sustainable local regulations that provide a fair market while ensuring social policy goals are achieved,” said Henrik Tjärnström, chief executive officer of Unibet.