Q2 2019 Betsson AB Earnings Call Transcript

Mar 03, 2024

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Jul 19, 2019 / 07:00AM GMT
Pontus Lindwall - Betsson AB - CEO & President

Hi all. Welcome to the presentation of the Betsson second quarter results.

So I start with some highlights. We have revenues of SEK 1,278 million and positive Sportsbook development despite challenging World Cup 2018 comparatives. I'm really proud about that, our proprietary Sportsbook performing really well across all markets. We have a good geographical spread that help us absorb some of the regulatory challenges that we see in some markets.

We have an EBIT of SEK 197 million and an EBIT margin of 15.4%. And this figure is burdened by the SGA fine of SEK 19 million. We still work with cost efficiencies and we have an underlying EBIT margin of close to 17%. One of our subsidiaries, NGG, got a fine of SEK 19 million from the Swedish Gaming Authority and that has been appealed.

So for the financial summary. Revenues, I mentioned. Sportsbook revenue growth of 14% with a gross turnover organic growth of 7%. Sportsbook margin slightly higher than the average of 7.8%. Our casino revenues declined by 10%. And that is mainly due to

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