Betsson full-year revenues up 23% after strong Q4
Revenues for 2014 exceed SEK3bn as both B2C and B2B businesses record double-digit growth
Betsson AB this morning announced a 23% rise in 2014 revenues after the firm recorded double-digit growth across both its B2C and B2B divisions.
Revenues for the final three months of the year were SEK814.7m (£64.4m), an increase of 24% which brought total revenues for the year to SEK3.04bn (£240m).
Full-year numbers were boosted by the February 2014 acquisition of Oranje and Kroon, which accumulated revenues of SEK89.9m – without this Betsson’s organic revenue growth was 11%.
Gross profit was SEK680m in Q4, with B2C contributing 75% of the total while its flagship casino posted SEK468.3m of gross profit, an increase of 29% on the comparable period in 2013.
Gross profit from sportsbook during the quarter was SEK180.9m, a year-on-year increase of 24%, although this was boosted by a SEK96m B2B contribution.
B2C sportsbook margin was relatively low at 6.1% due to customer friendly results in December, however this was balanced by a 24% increase in turnover.
Poker continued its downward trend in Q4 and gross profit from the vertical was just SEK20m, down 20% on the SEK25m posted the previous year.
Increased investment in mobile saw an improvement in mobile-derived revenues with 23% now coming from handheld devices, more than double the amount in Q4 2013, while 43% of sportsbook stakes were placed via mobile.
The firm also announced it had completed the migration of Nordicbet to its proprietary Techsson platform in Q4 and 75% of its revenues are now derived via the platform with plans to increase this further during 2015.
“In the fourth quarter, the company continued to deliver on its strategy and noted all-time highs for the majority of its KPIs,” Magnus Silfverberg, Betsson CEO, said.
“In addition, the company is well positioned both for new regulations in key markets and in terms of current technological trends, primarily as regards mobile solutions,” he added.
Betsson AB was recently upgraded to the Nasdaq Stockholm Large Cap and was trading at SEK297.4, down SEK14, at the time of writing.