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Betsson AB: Interim report 1 January - 30 June 2012

Press release published at The Swedish Wire


Second quarter revenues increased by 44 percent  

Second quarter

· Revenues amounted to SEK 486.2 (338.2) million, equivalent to an increase of 44 percent
· Operating income amounted to SEK 109.5 (102.7) million, equivalent to an increase of 7 percent
· Income has been negatively impacted by non-recurring costs amounting to SEK 10.0 (10.1) million, which refers to acquisitions and distribution of shares
· The Sportbook margin after free bets was 4.6 (5.9) percent, which represents the lowest ever in one quarter and is explained by an extra strong seasonal pattern
· Income before tax amounted to SEK 110.9 (103.3) million
· Net income totaled SEK 105.4 (97.9) million, corresponding to SEK 2.54 (2.47) per share
· Deposits in all of Betsson's gaming solutions amounted to SEK 1,505.1 (1,148.2) million, which represents an All Time High (ATH) and an increase of 31 percent
· The acquisition of NGG was completed with closing on June 20
· Due to the acquisition, by the end of the quarter Betsson had an external credit amounting to
SEK 431.8 (50,0) million, and the liquid funds amounted to SEK 342.3 (195.6) million
· The first gaming solution under own license on the Italian market was launched

Interim period

· Revenues increased by 35 percent to SEK 1,022.2 (755.6) million
· Operating income amounted to SEK 283.5 (234.5) million
· Income before tax amounted to SEK 281.9 (235.9) million
· Net income totaled SEK 267.7 (223.5) million, corresponding to SEK 6.41 (5.66) per share

Key performance indicators

Q2 Q2 Jan-June Jan-June Full year
2012 2011 2012 2011 2011 
Totals
Revenues 486.2 338.2 1,022.2 755.6 1,736.6
Gross profit 407.2 275.6 866.1 606.4 1,428.9
of which 68.9 41.3 176.7 145.6 326.9
Sportsbook
Operating 109.5 102.7 283.5 234.5 559.7
income
Cash and 342.3 195.6 342.3 195.6 509.7
cash
equivalents
Active 508.7 335.9 508.7 335.9 403.6
customers
(thousands)
Registered 5,418.0 3,229.5 5,418.0 3,229.5 3,662.4
customers
(thousands)
Customer 1,093.5 756.5 2,138.8 1,715.5 3,931.6
deposits
Customer 1,505.1 1,148.2 2,973.7 2,269.8 5,237.9
deposits,
all gaming
solutions
B2C
Sportsbook
Gross 731.1 242.0 1,376.6 448.5 1,525.4
turnover,
Sportsbook
Gross 4.0% 4.1% 5.4% 5.3% 5.4%
margin,
Sportsbook
Gross 29.4 10.0 74.0 24.0 82.5
profit,
Sportsbook

B2B
Sportsbook
Gross 2,013.7 1,563.1 4,012.3 3,152.1 6,055.0
turnover,
Sportsbook,
B2B
Gross 2.0% 2.0% 2.6% 3.9% 4.0%
margin,
Sportsbook
from B2B
Gross 39.5 31.5 102.7 121.7 244.3
profit,
Sportsbook,
B2B

Betsson is well positioned for a continued strong profitable growth

"Betsson is strengthening its position as a sportbooks operator through a broader sportsbook offering with even more mobile solutions. In addition, several technical development projects have been undertaken with the purpose of securing future growth and profitability. This, together with the highest activity level ever and the ATH in deposits, indicates a continued strong development for Betsson," states Magnus Silfverberg, President and CEO of Betsson.

Presentation of the Interim Report

Today, Tuesday 23 July, at 09.00 CET, Betsson's Group CEO Magnus Silfverberg will present the Interim Report at Betsson's office at Regeringsgatan 28, and through Webcast at www.betssonab.com or http://storm.zoomvisionmamato.com/player/betsson/objects/f8ac4vdp or by telephone on +46 (0)8 505 598 53 (Sweden) or +44 (0)20 3043 2436 (UK). The presentation will be in English and will be followed by a question and answer session.



Betsson AB's Core Business consists of owning and administering shareholdings in companies which, themselves or through partners, offer gaming to the end users via the internet. Betsson AB owns Betsson Malta which operates gaming to the end users either through their own websites or through partnerships. Betsson Malta offers Poker, Casino, Sportsbook, Scratch Cards, Bingo and Games. The customers come primarily from the Scandinavian countries and other parts of Europe. Betsson AB is listed on NASDAQ OMX Nordic Mid Cap List, (BETS).
This information was distributed by Cision
 

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