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Interim Report for 3rd Quarter 2024

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Q3 2024: Revenues decreased 6.48%, EBIT increased 32.82%. First 9 months 2024: Revenue increased 5.26%, EBIT increased 37.39%

Key Facts for the 3rd Quarter 2024 (1st July 2024 – 30th September 2024)

Revenues decreased 6.48% and EBIT increased 32.82%

All figures are compared to the same quarter last year if not explicitly stated otherwise.

  • Revenues decreased by 6.48% to €9,656,937 (€10,326,599).
  • EBIT increased by 32.82% to €1,452,452 (€1,093,543).
  • EBIT margin of 15.04% (10.59%).
  • Net profit increased by 40.29% to €731,306 (€521,297).
  • Earnings per share of €0.0098 (€0.0070).
  • PremierGaming Ltd, the Group’s B2C subsidiary licensed in Malta and Sweden focusing on Northern Europe, represented 6.60% of the Group’s revenues in Q3 2024.

Trading update Q4 2024

The trading update is an indication of how the fourth quarter 2024 has started, however it is not a revenue forecast for the quarter.

The average daily revenue in the fourth quarter 2024 up until and including 9th of November was 1% higher than the average daily revenue of the full fourth quarter 2023.

Events during Q3 2024

  • The decrease in revenues in the quarter is mainly from overall higher than average winnings during the quarter.
  • The available cashflow from operations has increased in the third quarter by 10.30% from €1,664,835 at the end of Q2 2024 to €1,836,352 at the end of Q3 2024.
  • The repayment of the short-term unsecured borrowing of €1,000,000, the Group’s only loan, has continued in the quarter and after and the remaining balance at the date of this report is €250,000 (€400,000 at the date of the Q2 2024 report).
  • On 25th of September 2024 PremierGaming Ltd launched ProntoSport.se towards the Swedish market. The launch was well received by the customers, and the initial KPIs look promising.
  • In the quarter the marketing expenses increased from €265,373 in Q3 2023 to €482.170. The increase in cost was mainly driven by PremierGaming’s marketing investments in ProntoCasino.se for the Swedish market in Q3. ProntoCasino.se increased the revenues by 66% in Q3 2024 comparing to Q3 2023.

Events after Q3 2024

  • The Group continues to focus on:
    1. B2B offering – the Group continues to enhance its successful B2B offering, both as regards the B2B offering itself and focus on sales and increasing revenues.
    1. Cost Control – continuously full focus on cost control and promptly removing less profitable partnerships although the latter effects the revenue growth in the short perspective.
    1. PremierGaming Ltd – after the launch of ProntoSport.se, PrermierGaming, through its main Swedish brands ProntoCasino.se and ProntoSport.se, now offers user-friendly high-quality products towards the Swedish leisure players ranging from Casino Games, Live Casino, Lottery Betting, Sport Betting, Live Betting to Betting on E-sport. The Group will continue to invest in the brands towards the Swedish market, based on a stringent Return on Investment approach.
    1. Marlin Media Ltd – the Group’s refocused affiliate marketing company started its venture in Q2 2024. The goal is to continue developing exceptional and innovative customer-facing products and brands, targeting a significant market segment within the iGaming sector (B2B). The objective is to break even within two years. The investment is projected to be €60,000 a month, as mentioned in the Q1 report, and is funded internally by the Group’s existing funds and cost savings. Marlin Media Ltd has continued executing its strategic growth plan with strong operational momentum. The key highlight for Q3 and after has been the launch of their new database platform that will enable efficient scaling across multiple territories and languages. Key operational highlights:
  • Their third affiliate website is in development and is planned to go live before the end of the year.
  • The company has integrated +3000 Operators in their proprietary database.
  • Operations remain well within the planned €60,000 monthly budget.

Key Facts for 1st January 2024 – 30th September 2024

Revenues increased 5.26% and EBIT increased 37.39%

All figures are compared to the same period of last year if not explicitly stated otherwise.

  • Revenues increased by 5.26% to €30,750,462 (€29,213,460).
  • EBIT increased by 37.39% to €4,495,350 (€3,271,958).
  • EBIT margin of 14.62% (11.20%).
  • Net profit increased by 18.80% to €2,243,387 (€1,888,332).
  • Earnings per share of €0.0299 (€0.0252).

Thomas Kalita, CEO, comments: "We are satisfied with the year-on-year quarterly growth in EBIT and Net Profit. Our ongoing focus and work on improving the margin have had a good effect. I am particularly happy with the 40.29% increase in net profit comparing this quarter to the same quarter previous year. The cash flow from operations continue to improve with a 10% improvement compared to the previous quarter. At the same time, we continue to invest in Marlin Media, the Group’s affiliate company and PrermierGaming Ltd, the Group’s company focused on Nordic Europe, in particular, Sweden. We also continue to improve the Group’s successful B2B-offering." 

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