Angler Gaming plc - Interim Q4 and Year-End 2023 Report

Q4 2023: Revenues increased 19.89% and EBIT increased 202.35%. Full 2023: Revenues increased 23.99% and EBIT increased 367.92%

Key Facts for the 4^th Quarter 2023 (1^st October 2023 –31^st December 2023)

Revenues increased 19.89% and EBIT increased 202.35% in the 4^th quarter

All figures are compared to the same quarter of previous year if not explicitly stated otherwise

• Revenues increased by 19.89% to €9,718,395 (€8,105,830).
• EBIT increased by 202.35% to €819,948 (€271,192).
• EBIT margin of 8.44% (3.35%).
• Customer deposits increased by 20.19% to €18,961,476 (€15,775,595).
• 59,478 new registered customers (62,339), decrease of 4.59%.
• 14,428 new depositing customers (11,725), increase of 23.05%.
• Net profit of €225,489 (- €2,479,745).
• Earnings per share of €0.0030 (- €0.0331).

• Premiergaming Ltd, the Group’s subsidiary focusing on Northern Europe, represented 4.9% of the Group’s revenues in Q4 2023.

Trading update Q1 2024

The trading update is an indication how the first quarter 2024 has started, it is not a revenue or profit forecast for the quarter.

Preliminary figures for January 2024:

• Revenues €3,742,931
• EBIT €599,365
• EBIT margin 16.01%

The average daily net gaming revenue in the first quarter 2024 up until and including 18th of February was 21% higher than the average daily net gaming revenue of the full first quarter 2023.

Events during Q4

• During Q4 2023 the Group continued to invest its existing resources into state-of-the-art functions and features, resulting in a continued competitive, cost effective and user-focused fully owned proprietary I-Gaming platform with a high end-user entertainment value.

• The new B2B partnership casino, announced earlier, was launched in the end of the quarter, and started to contribute to the Group’s revenues.

• On the 20th of December 2023 Premiergaming Ltd, a fully owned subsidiary of Angler Gaming plc, received a renewed three year license to conduct gaming in Sweden. The renewed licence, valid from 29th of January 2024 until the 28th of January 2027, covers the right to offer online casino, online betting and land-based betting. 

Events after the quarter

• Premiergaming Ltd is, based on the renewed and extended Gaming Licence, putting more emphasis on the Swedish market going forward with the strategy to focus on recreational players.

• The repayment of the short-term unsecured borrowing of €1,000,000 has continued in the quarter and after with a repayment of €250,000 during Q4 2023 and so far in Q1 2024. The remaining of the loan is expected to be repaid during 2024.

• The Board of Directors does not recommend distribution of a dividend for the fiscal year 2023. While the business is developing well, the focus is to become debt-free in 2024, invest in new innovative projects and build up additional cash flow.

Key Facts for 1^st January 2023 – 31^st December 2023

Revenues increased 23.99% and EBIT increased 367.92% in 2023

All figures are compared to the same period 2022 if not explicitly stated otherwise

• Revenues increased by 23.99% to €38,931,855 (€31,399,824).
• EBIT increased by 367.92% to €4,091,906 (€874,485).
• EBIT margin of 10.51% (2.78%).
• Customer deposits increased by 12.11% to €72,765,527 (€64,904,472).
• 199,016 new registered customers (278,898), decrease of 28.64%
• 52,403 new depositing customers (52,813), decrease of 0.78%.
• Net profit of €2,113,821 (- €3,307,629).
• Earnings per share of €0,0282 (- €0.0441).

Thomas Kalita, CEO, comments: The results of Q4 continue to show good momentum within the Group. Revenues grew 19.9% and EBIT grew 202.4% compared to the same quarter 2022. Looking at the full year 2023, the revenues grew 24.0% and EBIT grew 367.9% compared to 2022. Net Profit was €2,113,821 in 2023 compared to minus €3,307,629 in 2022, a YoY improvement of €5,421,450.

Q1 2024 has started strong. The average daily net gaming revenue in the first quarter 2024 up until and including 18th of February was 21% higher than the average daily net gaming revenue of the full first quarter 2023. The preliminary Revenues for January 2024 was €3,742,931 and the preliminary EBIT for January 2024 was €599,365, an EBIT margin of 16%.