Mr Green’s revenues grew by more than a quarter in 2017, with the Swedish firm benefiting from its entry into Denmark.
Overall revenues hit the SEK1.192bn (€118.2m) mark, up 28.9 per cent on 2016’s figure of SEK924.5m. The EBITDA margin grew from 9.9 per cent the previous year to 15.6 per cent, with the share price in 2017 rising by 73.9 per cent.
Mr Green focused on the Nordic region in 2017 and rolled out a new sportsbook featuring “instant tennis” and new data features. A step into Denmark was taken with the acquisition of Dansk Underholdning and after enjoying a “healthy influx” of customers in the territory, the company expects it to become a key market.
This year, Mr Green concluded the purchase of Evoke Gaming and CEO Per Norman stated that he expects to see it result in a positive contribution to cash flow and earnings this year.
“Even after the acquisition of Evoke Gaming, Mr Green has a a continuously favourable financial position,” Norman said. “In the spring of 2017, we conducted a directed new share issue of SEK195m before issue expenses. We have an explicitly conservative approach regarding the balance sheet and want to have the scope to be able to manage unexpected situations.
“We have opted for a cautious approach to the tax issue in Austria and made provisions for a high taxation level. The board’s proposal to the AGM of a transfer of SEK1.30 per share to shareholders is confirmation of the strength of our customer offering, our financial position and cash flow.”
