Betsson Ab Class B · OMXSTO:BETS_B
Betsson Ab Class B — Q1 2024 Earnings Presentation
15 slides from Betsson Ab Class B's earnings presentation, Apr 26, 2024
Slide 1: Q1 2024 Presentation of interim report
Q1 2024 Presentation of interim report
Slide 2: Q1 2024 Key Figures
Q1 2024 KEY FIGURES EBIT SPORTSBOOK SPORTSBOOK REVENUE 58 MEUR TURNOVER REVENUE 248 MEUR +35% YoY -3% +12% YoY +25% EBIT MARGIN YoY YoY +25% organic Margin 6.6% 23.3% CUSTOMER CASINO CASINO ACTIVE DEPOSITS TURNOVER REVENUE CUSTOMERS 1,378 +14% +19% 1.3M +15% YoY MEUR YoY YoY +20% YoY 2 All-Time High
Slide 3: Our Markets – Some Activities
OUR MARKETS – SOME ACTIVITIES EXISTING MARKETS NEW MARKETS B2B M&A Colombia: Jersey sponsorship with Atletico Nacional Belgium: Launched broad online casino offering based on A+ license Italy: Launched flagship brand Italy: Launched betsson.sport - Betsson with Francesco Totti as brand ambassador 3
Slide 4: Acquisition in Netherlands
ACQUISITION IN NETHERLANDS EXISTING MARKETS NEW MARKETS B2B M&A Belgium: Launched broad online casino offering Acquisition of Holland Gaming Technology Ltd and Holland Power based Gaming on A+ license B.V. Licensed B2C operator and game development studio Total consideration of EUR 27.5 millio
Slide 5: Product & Technology Development
PRODUCT & TECHNOLOGY DEVELOPMENT New Go-live in casino game Cordoba, providers Argentina integrated Expanding sports betting Migration to own functionality platform in Colombia completed 5
Slide 6: Sustainability
SUSTAINABILITY — Annual and sustainability report 2023 published — CSRD readiness well underway for Betsson — Mandatory reporting in Sweden for FY 2025 — Betsson climate compensated for its emissions for 2023, including for customers’ use of electricity when playing on Betsson brands. — Betsson supp
Slide 7: Revenue and EBIT by Quarter
REVENUE AND EBIT BY QUARTER 400 23,6% 25% 23,0% 23,3% 22,6% 350 19,2% 19,4% 20% 300 18,1% 15,7% 252 248 250 237 238 13,9% 221 222 15% 13,2% 200 MEUR 200 186 170 158 10% 150 100 58 5% 55 56 57 50 38 40 43 24 29 21 0 0% Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Revenue EBIT EBIT marg
Slide 8: Customer Activity and KPIs
CUSTOMER ACTIVITY AND KPIs 16 000 Gross turnover / Total bets (MEUR) Customer deposits (MEUR) 14 000 ¬ 12 000 Sportsbook +15% ¬ +20% 10 000 Casino ¬ ¬ 8 000 800 6 000 600 4 000 400 200 2 000 0 - Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-
Slide 9: Revenue Development by Region YoY
REVENUE DEVELOPMENT BY REGION YOY +12% +25% 30 278 RoW 17 2 0 248 2% Nordics 222 16 19% 5 CEECA MEUR 44% Latin America 18% Western Europe 17% Q1-23 Nordics Western CEECA LatAm Rest of Q1-24 FX and M&A Q1-24 revenue Europe world reported effects organic revenue revenue 9
Slide 10: EBIT Development YoY
EBIT DEVELOPMENT YOY +35% EBIT EBIT MEUR Q1 2024 Q1 2023 Margin Margin 19.4% 23.3% 26 10 Revenue 248 222 5 3 2 1 58 Gross profit 164 148 MEUR 43 Gross margin 66.1% 66.5% Opex 106 105 EBIT 58 43 Q1-23 EBIT Revenue Cost of Marketing Personnel D&A Other Costs Q1-24 EBIT Services Sold Expenses Expenses
Slide 11: Cash Flow & Financial Position
CASH FLOW & FINANCIAL POSITION — Operating cash flow MEUR Q1 2024 Q1 2023 — Increased EBIT supports higher cash flow YoY — Negative working capital effect due to changes in Operating cash flow 50.0 48.8 working capital due to increased receivables on payment providers and increased pre-paid expenses
Slide 12: Q2 2024 Trading Update
Q2 2024 TRADING UPDATE* Average daily revenue up to and including 22 April was 15% higher than the average Q2 daily revenue of the full quarter in Q2 2023 During this period, the sportsbook margin was higher than the historical average * This is not a revenue forecast, only an indication of how the
Slide 13: Highlights Q1 2024
HIGHLIGHTS Q1 2024 Sustained high customer activity Solid growth in customer deposits and gaming turnover for both sports betting and casino Double-digit revenue growth, despite FX headwinds Highest ever operating income (EBIT) Execution of strategy Growth investments, organic and M&A
Slide 14: Q&A
betsson ab Q&A
Slide 15: Financial Calendar and Contact
FINANCIAL CONTACT CALENDAR 7 May 2024 Roland Glasfors AGM in Stockholm VP Communications & Investor Relations 19 July 2024 +46 760 024 863 Q2 2024 Interim Results 24 October 2024 ir@betssonab.com Q3 2024 Interim Results 13 February 2025 Q4 2024 Interim Results