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Betsson AB (publ) interim report January – March 2021

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Betsson delivers growth through geographical spread  

QUARTER JANUARY – MARCH 2021

  • Group revenue was SEK 1,592.8 (1,417.5) million, an increase of 12% with an organic increase of 2%.
  • Casino revenue increased by 16%. Sportsbook revenue increased by 2% and the sportsbook margin was 7.2% (8.5%).
  • Operating income (EBIT) was SEK 276.1 (260.6) million, an increase of 6%, the EBIT margin was 17.3% (18.4%).
  • Net income was SEK 240.1 (229.5) million, corresponding to SEK 1.76 (1.68) per share.
  • Operating cash flow was SEK 327.7 (321.9 ) million.
  • Active customers increased by 39% to 948,109 (680,938).
     

CEO COMMENT
“Betsson delivers growth through geographical spread.”

Continued focus on growth despite challenges in some markets.
2021 began with a quarter that showed growth compared to the same period last year. On several markets, such as Italy, Baltics, Peru and Chile, we continue to deliver strong growth and good profitability. This is very encouraging, however, we are not fully satisfied as we have experienced difficulties in a few other markets, for various reasons. As previously communicated, revenues from the German market have decreased significantly, due to the restrictions introduced and the fact that we closed several brands in connection with this. In Norway it´s still diffcult finding efficient payment solutions, but with its own proprietary payment platform, Betsson manages the situation. Operations in the Netherlands continue as before, pending the start of the licensing process for foreign operators. We are pleased by the continued favorable development in the CEECA and ROW regions, thanks to successful brand launches and continuous improvements in the product offering.

Thanks to a broad and diversified product portfolio with many brands in several markets, Betsson can deliver results to continue to create growth. The slightly lower operating margin is a result of ongoing strategic investments to ensure long-term growth and create shareholder value.

Several opportunities in new markets
Last quarter we described how Betsson expanded into new markets through acquisitions and new gaming licenses. Evaluations of interesting markets continue. Croatia continues to perform well with high levels of activity. We continue to strengthen our position in Latin America and is now establishing an office in Bogota, Colombia, which is the first regulated market in the region. In Brazil, Betsson is carrying out brand-strengthening activities ahead of the forthcoming regulation in the country.

Betsson enters the US market
We are currently adapting the sportsbook for the US market, initially with the intention to offer it as an operator in the state of Colorado, while we are preparing a B2B offering of the sportsbook in the US. The work of adapting and making the sportsbook attractive for the US market has been further intensified. Betsson´s sportsbook will be integrated on TG Lab’s new US facing entity’s PAM before the launch in Colorado.


PRESENTATION OF THE INTERIM REPORT

Betsson invites analysts, investors and media to participate in the results presentation of the first quarter at 10:00 CEST on 29 April 2021. The results will be presented by CEO Pontus Lindwall and CFO Martin Öhman. The presentation will be held in English, followed by a Q&A session. Participants are welcome to join via the link or phone, see details below.

Dial-in numbers:
Sweden: +46 8 5055 83 55
UK: +44 33 33 00 92 72
US: +1 83 35 26 83 95

Webcast link: https://tv.streamfabriken.com/betsson-financial-hearing-q1-2021

CONTACTS
Pontus Lindwall, President and CEO, Betsson AB
+46 8 506 403 00
pontus.lindwall@betssonab.com

Martin Öhman, CFO Betsson AB
+46 8 506 403 00
martin.ohman@betssonab.com

 This information is information that Betsson AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact persons set out above, at 07.30 CEST on April 29, 2021.

About Betsson AB
Betsson AB (publ) is a holding company that invests in and manages fast-growing companies within online gaming. The company is one of the largest in online gaming in Europe and has the ambition to outgrow the market, organically and through acquisitions. This should be done in a profitable and sustainable manner, and with local adaptations. Betsson AB is listed on Nasdaq Stockholm Large Cap (BETS).

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