The group explained that the increase is largely due to the reopening of its land-based casinos, but the company did note that “renewed effects of the pandemic in December 2021 have had a negative effect on net gaming revenues.”
Operating profit for Q4 2021 amounted to SEK 601m, a 13% decline from the prior-year period. The operating margin of 27% was “affected by both higher costs but also reduced revenues as a result of the new restrictions.”
Svenska Spel added that SEK 40m was paid out to 8,930 associations and their youth sports via its Gräsroten initiative. And the group also noted that its Board of Directors proposes a dividend of SEK 2,900m to the Annual General Meeting 2022.
Svenska Spel President and CEO Patrik Hofbauer commented: “I am pleased that the board intends to propose a dividend of SEK 2.9 billion to our owner.
“The fact that our surplus goes to the Swedish people via the Treasury is one of the reasons why we are the entire Swedish gaming company. Our operations are still strongly affected by the pandemic, but as a whole we have good growth and profitability for the group.”
The company also reported its financial results for the full year 2021, with net gaming revenues climbing 6% year-on-year to SEK 8,144m, and operating profit climbing 3% to SEK 2,468m.
“When Svenska Spel sums up 2021, it is with continued growth and good profitability for the group despite the unfavourable impact of the pandemic,” a statement from the company read.
