Interim report 1 January – 30 June 2012
Second quarter revenues increased by 44 percent
Second quarter
- Revenues amounted to SEK 486.2 (338.2) million, equivalent to an increase of 44 percent
- Operating income amounted to SEK 109.5 (102.7) million, equivalent to an increase of 7 percent
- Income has been negatively impacted by non-recurring costs amounting to SEK 10.0 (10.1) million, which refers to acquisitions and distribution of shares
- The Sportbook margin after free bets was 4.6 (5.9) percent, which represents the lowest ever in one quarter and is explained by an extra strong seasonal pattern
- Income before tax amounted to SEK 110.9 (103.3) million
- Net income totaled SEK 105.4 (97.9) million, corresponding to SEK 2.54 (2.47) per share
- Deposits in all of Betsson’s gaming solutions amounted to SEK 1,505.1 (1,148.2) million, which represents an All Time High (ATH) and an increase of 31 percent
- The acquisition of NGG was completed with closing on June 20
- Due to the acquisition, by the end of the quarter Betsson had an external credit amounting to
SEK 431.8 (50,0) million, and the liquid funds amounted to SEK 342.3 (195.6) million - The first gaming solution under own license on the Italian market was launched
Interim period
- Revenues increased by 35 percent to SEK 1,022.2 (755.6) million
- Operating income amounted to SEK 283.5 (234.5) million
- Income before tax amounted to SEK 281.9 (235.9) million
- Net income totaled SEK 267.7 (223.5) million, corresponding to SEK 6.41 (5.66) per share
Key performance indicators
| Q2 | Q2 | Jan-June | Jan-June | Full year | ||
| 2012 | 2011 | 2012 | 2011 | 2011 | ||
| Totals | ||||||
| Revenues | 486.2 | 338.2 | 1,022.2 | 755.6 | 1,736.6 | |
| Gross profit | 407.2 | 275.6 | 866.1 | 606.4 | 1,428.9 | |
| of which Sportsbook | 68.9 | 41.3 | 176.7 | 145.6 | 326.9 | |
| Operating income | 109.5 | 102.7 | 283.5 | 234.5 | 559.7 | |
| Cash and cash equivalents | 342.3 | 195.6 | 342.3 | 195.6 | 509.7 | |
| Active customers (thousands) | 508.7 | 335.9 | 508.7 | 335.9 | 403.6 | |
| Registered customers (thousands) | 5,418.0 | 3,229.5 | 5,418.0 | 3,229.5 | 3,662.4 | |
| Customer deposits | 1,093.5 | 756.5 | 2,138.8 | 1,715.5 | 3,931.6 | |
| Customer deposits, all gaming solutions | 1,505.1 | 1,148.2 | 2,973.7 | 2,269.8 | 5,237.9 | |
| B2C Sportsbook | ||||||
| Gross turnover, Sportsbook | 731.1 | 242.0 | 1,376.6 | 448.5 | 1,525.4 | |
| Gross margin, Sportsbook | 4.0% | 4.1% | 5.4% | 5.3% | 5.4% | |
| Gross profit, Sportsbook | 29.4 | 10.0 | 74.0 | 24.0 | 82.5 | |
| B2B Sportsbook | ||||||
| Gross turnover, Sportsbook, B2B | 2,013.7 | 1,563.1 | 4,012.3 | 3,152.1 | 6,055.0 | |
| Gross margin, Sportsbook from B2B | 2.0% | 2.0% | 2.6% | 3.9% | 4.0% | |
| Gross profit, Sportsbook, B2B | 39.5 | 31.5 | 102.7 | 121.7 | 244.3 | |
Betsson is well positioned for a continued strong profitable growth
”Betsson is strengthening its position as a sportbooks operator through a broader sportsbook offering with even more mobile solutions. In addition, several technical development projects have been undertaken with the purpose of securing future growth and profitability. This, together with the highest activity level ever and the ATH in deposits, indicates a continued strong development for Betsson,” states Magnus Silfverberg, President and CEO of Betsson.
Presentation of the Interim Report
Today, Tuesday 23 July, at 09.00 CET, Betsson's Group CEO Magnus Silfverberg will present the Interim Report at Betsson’s office at Regeringsgatan 28, and through Webcast at www.betssonab.com or http://storm.zoomvisionmamato.com/player/betsson/objects/f8ac4vdp or by telephone on +46 (0)8 505 598 53 (Sweden) or +44 (0)20 3043 2436 (UK). The presentation will be in English and will be followed by a question and answer session.
Betsson AB’s Core Business consists of owning and administering shareholdings in companies which, themselves or through partners, offer gaming to the end users via the internet. Betsson AB owns Betsson Malta which operates gaming to the end users either through their own websites or through partnerships. Betsson Malta offers Poker, Casino, Sportsbook, Scratch Cards, Bingo and Games. The customers come primarily from the Scandinavian countries and other parts of Europe. Betsson AB is listed on NASDAQ OMX Nordic Mid Cap List, (BETS).
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