Tuesday April 29,2014 : UNIBET FIRST QUARTER RESULTS DELIVER
A host of all-time-high's for both Unibet and Kambi
Unibet Group plc's first quarter 2014 interim report delivered several all-time-highs in terms of profit, EBITDA and gross winnings revenue’s.
Key performance highlights for the January – March 2014 period include:
– Gross winnings revenue amounted to GBP 67.6 million (Q1/2013: GBP 59.3 million), up 14 percent
– EBITDA was GBP 21.3 million (Q1/2013: GBP 17.1 million), up 24.5 percent year-on-year.
– Profit from operations of GBP 16.6 million (Q1/2013: GBP 12.5 million), up 33 percent.
– Profit before tax amounted to GBP 16.5 million (Q1/2013: GBP 11.4 million).
– Profit after tax amounted to GBP 15.3 million (Q1/2013: GBP 10.6 million), up 44 percent.
– Earnings per share was GBP 0.544 (Q1/2013: GBP 0.378).
– Operating cash flow before movements in working capital amounted to GBP 21.5 million (Q1/2013: GBP 17.1 million).
– Active customers at the end of the quarter increased to 552,338 (Q1/2013: 489,923).
– Re-regulated gross winnings revenue was 29 percent of the total gross winnings revenue.
– Sports betting turnover was up by 18 percent (26 percent in local currency)
– Casino gross winnings revenue was up by 15 percent (23 percent in local currency)
Henrik Tjärnström, chief executive officer of Unibet confirmed results were driven by strong organic growth and a sports betting margin of 8.0 percent after free bets resulting in new all-time-highs for Unibet in active customers, GWR, EBITDA and profit after tax.
Unibet's mobile channel represented 31 percent of total gross winnings revenue for the quarter while sports betting performance across Kambi customers delivered significant all-time-highs for Kambi in both revenue and EBITDA.
At the company AGM earlier this month, the Board of Directors of Unibet Group proposed that all Kambi Group Limited shares owned by Unibet, around 95 percent, be distributed to shareholders during June 2014, reinforcing a decision taken back in 2010 to spin off the company as a separate B2B business. The remaining 5 percent is owned by Kambi management employees and the company will be renamed Kambi Group plc.