Betsson generates €220.6m in Q4 2022 revenue
Betsson has made €220.6m ($237.4m) in revenue for Q4 2022, up 40% year-on-year.
The finalisation of its fourth-quarter results means its group revenue for 2022 stood at €777.2m, an increase of 18% from 2021.
The company’s revenue from its casino segment increased by 27% for Q4 2022 – but this paled in comparison to the success of its sportsbook, which saw revenue increase 76%.
EBITDA too saw a significant increase to €51.1m – a yearly increase of 68%. This Q4 rise helped its full-year EBITDA increase by 12%, with a margin of 22.2%.
The company’s net income for Q4 stood at €32.7m, equal to €0.26 per share, while its operating cash flow for the quarter was €75.5m.
However, the company’s debt did increase significantly – it was previously €2.5m in profit and now has a deficit of €65.7m.
Speaking on the company’s Q4 and FY 2022 results, Betsson Group CEO Jesper Svensson said: “We can look back at the best year ever for Betsson with strong growth and profitability, driven by disciplined capital allocation, geographical diversification and investments in new markets, as well as continuous strengthening of the tech platform and product offering.
“For the full year, revenue increased by 18% and EBIT increased by 11%. Organically, revenue increased by 27% for the year.”
Svensson’s remarks come shortly after he was named Executive of the Year at the Global Gaming Awards London 2023.
Gambling Insider also spoke to Svensson for a GI Huddle during ICE London 2023, as well as Betsson’s AB CEO Pontus Lindwall.
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