STS posts 25% revenue increase in Q3 results
The STS Group has announced its Q3 report, which shows it generates revenue of PLN 150m ($33m) – compared to PLN 119m for the same period in 2021, representing a 25% annual increase.
Furthermore, STS saw a 65% increase in net profit, totalling PLN 49m for the quarter. Its adjusted EBITDA increased too – amounting to PLN 73m in Q3 2022, against PLN 52m in 2021.
For the nine months so far this year, STS has reported revenue of PLN 413m, an 8% increase on its first nine months of 2021 – which totalled PLN 381m.
Meanwhile, its consolidated net profit for 2022 amounted to PLN 111m, compared to PLN 116m in the same period last year.
Mateusz Juroszek, the Management Board President of STS Holdings said: “In Q3 2022, there was a high activity of players observed, which was primarily related to a very intense calendar of sporting events. Football competitions due to the World Cup in Qatar started already in the holiday season.
“In addition, Polish volleyball and basketball players and Iga Świątek proved their good form during international tournaments. As a result, the players had several opportunities to place bets. The ongoing World Cup in Qatar is a perfect event for increased acquisition of new players.
“Additionally, the participation of 32 teams and several dozen matches played means that the activity of bettors will certainly be high.”
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