Interim report for the period January to June 2006

Report this content

Net revenues for full fiscal year 2005/2006 amounted to SEK 241.4 M (55.0) and SEK 86.1 M (26.1) for the fourth quarter.
Poker noted strong growth for the full fiscal year, with an increase of 361% compared with the preceding year, and 253% for the final quarter, compared with the corresponding period in the preceding fiscal year.
The gaming surplus for the full year amounted to SEK 212.3 M (47.3) and SEK 76.0 M (21.7) for the fourth quarter.
The gross margin was 51.2% (70.2) for the full year and 45.0% (67.2) for the fourth quarter.
Profit after tax amounted to SEK 29.1 M (14.1) and SEK 9.1 M (6.1) for the fourth quarter.
Profit per share for the full fiscal year amounted to SEK 5.60 (2.72) and SEK 1.74 (1.18) for the fourth quarter.

Comments by Per Hildebrand, CEO of 24hPoker AB
“24hPoker had a highly successful fiscal year and showed strong growth with good profitability. The number of active players increased during the year by 299% to 42,300 in 24hNetwork and by 149% to 118,700 in B2B Poker Network. Cooperation agreements were entered with a large number of new partners during the year.

The rapid growth is attributable to 24hPoker’s development of an attractive concept whereby we offer partners flexible total solutions and opportunities to enter the gaming market quickly and at low cost. 24hPoker allows its partners to choose which gaming products they want to offer, provides a range of marketing tools and manages payments and support.

During the fourth quarter, 24hPoker experienced increased competition in the Swedish online poker market following the entry of gaming monopoly Svenska Spel, which created negative effects on growth and earnings during the fourth quarter. 24hPoker has developed favorably in other markets than the Swedish market. The percentage of active players in countries outside Sweden now exceeds 50% in 24hNetwork.

We have now completed our merger with Daydream and, effective July 1, 2006, it will be possible to purchase 24hPoker’s shares on the Stockholm Stock Exchange under the company’s own name. The market listing of our operations will provide us with favorable opportunities for our continued, goal-oriented focus on systems developed in-house, ownership in one of Europe’s leading poker networks and development and marketing of attractive solutions for different types of partners in all parts of the world. We are favorably positioned to consolidate our already strong position in the gaming market.”

Documents & Links