Betsson has reported revenue of SEK1,592.8m, an increase of 12 per cent with an organic increase of two per cent, in its Q1 results.
Casino revenue increased by 16 per cent, sportsbook revenue increased by two per cent and the sportsbook margin was 7.2 per cent (8.5 in 2019). Operating income (EBIT) was SEK276.1million, an increase of six per cent and the EBIT margin was 17.3 per cent (18.4).
Net income was SEK240.1m (229.5m), corresponding to SEK1.76 (1.68) per share. Operating cash flow was SEK327.7m (321.9). Active customers increased by 39 per cent to 948,109 (680,938).
Pontus Lindwall, president and CEO, said: "2021 began with a quarter that showed growth compared to the same period last year. On several markets, such as Italy, Baltics, Peru and Chile, we continue to deliver strong growth and good profitability.
"This is very encouraging, however we are not fully satisfied as we have experienced difficulties in a few other markets, for various reasons. As previously communicated, revenues from the German market have decreased significantly, due to the restrictions introduced and the fact that we closed several brands in connection with this.
In Norway it´s still diffcult finding efficient payment solutions, but with its own proprietary payment platform, Betsson manages the situation. Operations in the Netherlands continue as before, pending the start of the licensing process for foreign operators.
"We are pleased by the continued favorable development in the CEECA and ROW regions, thanks to successful brand launches and continuous improvements in the product offering.
"Thanks to a broad and diversified product portfolio with many brands in several markets, Betsson can deliver results to continue to create growth. The slightly lower operating margin is a result of ongoing strategic investments to ensure long-term growth and create shareholder value."
