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Betsson AB has officially published its interim report for the third quarter of 2023, and the results are outstanding. The company has recorded its seventh consecutive quarter of sequential growth in revenue earnings. These results show Betsson AB’s unwavering commitment to excellence and innovation.
Both Customers and Depositors increased significantly in the third quarter. The company also recorded a high turnover in casinos and sports betting. More appealing is that Betsson does not focus on one region. The company’s revenue was broad-based, with a huge audience coming from all regions except the Nordics.
Revenue Breakdown for QUARTER JULY – SEPTEMBER 2023
- Group revenue was EUR 237.6 (200.3) million, an increase of 19%. Organic increase of 39%.
- Casino revenue increased by 27%.
- Sportsbook revenue increased by 2%.
- The sportsbook margin was 7.3% (8.3%).
- EBITDA was EUR 68.9 (48.6) million, an increase of 42%.
- The EBITDA margin was 29.0% (24.3%).
- Operating income (EBIT) was EUR 56.0 (38.4) million, an increase of 46%. The EBIT margin was 23.6% (19.2%).
- Net income was EUR 46.2 (32.6) million, corresponding to EUR 0.35 (0.24) per share.
- Operating cash flow was EUR 44.9 (38.5) million.
- Net debt was EUR -65.5 (-54.7) million.
- Active customers increased by 17% to 1,237,238 (1,056,400).
Commenting on the third quarter revenue results, Pontus Lindwall, President and CEO of Betsson AB, said:
“I look forward with confidence to the final sprint of the year. Geographical diversification, a solid balance sheet, and strong cash flows create good conditions for continued investments in profitable growth to deliver long-term value creation for our shareholders.”