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NEWS 14 February 2019

Betsson rebounds from turbulent 2017 with 35% EBIT growth in 2018

By Tim Poole

Betsson bounced back from the "turbulence" the operator suffered in 2017 by reporting a 15%  increase in 2018 group revenue, to SEK 5.41bn ($580m).

Of this growth, 11% was organic, while operating income (EBIT) grew a sizeable 35% to SEK 1.19bn.

Net income rose at a similar level, 37%, to SEK 1.07bn, corresponding to SEK 7.70 per share.

During Q4, group revenue increased by 14% to SEK 1.43bn, with an organic growth of 12%; all of Betsson’s regions showed growth, while casino revenue was up 24% to SEK 1.07bn.

Sportsbook revenue fell 5% to SEK 341.4m but this was attributed to lower margins than Q4 2017, as turnover increased by 6%.

EBIT grew a substantial 56% to SEK 341.5m, with the operating margin rising year-on-year from 17.4% to 23.8%.

Betsson CEO Pontus Lindwall said: “For the third consecutive quarter, Betsson delivered all-time high revenue and EBIT and proved 2018 to be a turning point.

"I am happy to see how we have been able to show continuous results from the ‘Back on track’ program during the year."

Read Gambling Insider’s exclusive interview on Betsson’s financial results with the CEO later today.

RELATED TAGS: Casino | Financial | Sports Betting
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