Super Group (sghc) Limited · NYSE:SGHC
Super Group (sghc) — Q2 2025 Earnings Presentation
28 slides from Super Group (sghc)'s earnings presentation, Aug 7, 2025
Slide 1: 2Q 2025 Earnings Review
2Q 2025 Earnings Review August 6, 2025 1
Slide 2: Disclaimers
DISCLAIMERS Forward-Looking Statements Certain statements made in this press release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limite
Slide 3: Business Update, Financial Highlights, Guidance, Appendix
01 Business Update 02 Financial Highlights 03 Guidance 04 Appendix 3
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Slide 5: 2Q-25 Highlights
2Q-25 HIGHLIGHTS 01 Highest ever Total Group Revenue of $579 million (30% YoY growth) 02 Record Group Adjusted EBITDA of $157 million (78% YoY growth and margin of 27%) 03 Ex-U.S. Adjusted EBITDA guidance raised to $500-$510 million from $480 million 04 Announced strategic exit of U.S. iGaming busin
Slide 6: 2Q-25 Key Financials
2Q-25 KEY FINANCIALS $579m $157m 5.5m Business 27% Group 1,3 2,3 2 Average Unique Monthly Total Revenue Adjusted EBITDA Adjusted EBITDA Active Customers +30% YoY Margin +21% YoY +78% YoY $393m Unrestricted Cash $563m $162m 2,3 4 $17m $(5.4)m (June 30, 2025) 1,3 Adjusted Adjusted EBITDA EBITDA 1,3 To
Slide 7: Sustained Growth in Monthly Active Customers
SUSTAINED GROWTH IN MONTHLY ACTIVE CUSTOMERS Average Unique Monthly Active Customers (millions) 6.0 5.4 5.5 5.3 ~112% 5.0 4.7 4.7 4.7 4.5 4.0 INCREASE SINCE 4.0 3.5 3.7 1Q-22 3.4 3.0 2.7 2.6 2.6 2.0 1.0 ~21% YoY INCREASE 0.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 2022 2022 2022 2022 2023 2023 202
Slide 8: Net Revenue by Geography: Continued Global Diversification
1 NET REVENUE BY GEOGRAPHY: CONTINUED GLOBAL DIVERSIFICATION Key Highlights: 2Q 2024 2Q 2025 • Europe ◦ Strong sports and casino growth in the UK ◦ Solid performance in Spain (casino) and Ireland • Africa +10% +30% ◦ Robust growth across both sports and casino 2Q 2024 NET REVENUE 2Q 2025 NET REVENUE
Slide 9: Net Revenue by Brand and Product Underpinned by Strong Casino Offering
1, 2 NET REVENUE BY BRAND AND PRODUCT : UNDERPINNED BY STRONG CASINO OFFERING 2Q 2024 2Q 2025 2Q 2024 2Q 2025 79% 80% 61% 59% 41% 39% 21% 20% Spin Betway Sports Casino 9 1 Charts include US operations 2 The Group has adopted a change in presentation currency from Euros to USD effective as at January
Slide 10: Sportsbook Wagers and Revenue Remain Strong
1,2 SPORTSBOOK WAGERS AND REVENUE REMAIN STRONG 2Q 2025 Sports Gross Revenue +27% YoY $1,200 2Q 2025 Total Sports Wagered +15% YoY 17.5 2Q 2025 13.9% vs 2Q 2024 12.6% Margin $1,000 15.0 $800 Millions (USD) Margin (%) 12.5 $600 10.0 $400 7.5 $200 $0 5.0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 2022
Slide 11: Casino Wagers Remain Strong
1,2 CASINO WAGERS REMAIN STRONG 2Q 2025 Casino Gross Revenue +25% YoY 8.0 2Q 2025 Total Casino Wagered +24% YoY $12,500 2Q 2025 4.44% vs 2Q 2024 4.40% Margin $10,000 6.0 Millions (USD) Margin (%) $7,500 4.0 $5,000 $2,500 2.0 $0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 2022 2022 2022 2022 2023 2023
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Slide 13: Total Group Revenue (Millions)
1,2,3,4 TOTAL GROUP REVENUE (MILLIONS) Revenue Exceeded Expectations, +30% Year-over-Year $1,835 $1,556 $534 $1,363 $389 $336 $1,096 $443 $388 $310 $579 $447 $342 $415 $517 $375 $363 $412 2022 2023 2024 2025 1Q 2Q 3Q 4Q 1 Total Revenue includes Net Revenue (Net Revenue after VAT & GST) and Other Rev
Slide 14: Total Revenue (Ex-U.S.) (Millions)
1,2,3 TOTAL REVENUE (EX-U.S.) (MILLIONS) Revenue Exceeded Expectations, +28% Year-over-Year Sports Betting (Ex-U.S.) Online Casino (Ex-U.S.) $1,798 4 4 Revenue increased +29% to Revenue increased +28% to $116m $438m $1,523 $519 $1,363 • Strong growth in Europe • Significant growth in Europe (+42%),
Slide 15: Total Group Adjusted EBITDA (Millions)
1,2,3,4,5 Total Group Adjusted EBITDA (MILLIONS) Adjusted EBITDA +78% Year-over-Year; Margin of 27% $357 $126 $268 $224 $216 $43 $37 $92 $157 $50 $57 $58 $88 $83 $111 $74 $39 $50 2022 2023 2024 2025 1Q 2Q 3Q 4Q 1 Totals may not sum due to rounding 2 15 The Group has adopted a change in presentation
Slide 16: Adjusted EBITDA (Ex-U.S.) (Millions)
1,2,4 Adjusted EBITDA (EX-U.S.) (MILLIONS) Record Adjusted EBITDA; Up +53% Year-over-Year; Margin of 29% $423 3 Direct Expenses increased 27% to $200m: • Increase attributed to new taxes from New Zealand and Botswana • Offset by efficiencies in royalties and processing cost $137 • Cost of revenue ma
Slide 17: Super Group's U.S. Update
1,2,3 SUPER GROUP’S U.S. UPDATE U.S. iGAMING FOOTPRINT Revenue Up +112% Year-over-Year; Exited Sportsbook 2Q 2024; Announced iGaming exit 2Q 2025 Active States (iGaming only) Decision to exit U.S. iGaming following recent regulatory shifts impacting long-term U.S. expected profitability, underscorin
Slide 18: 2Q-25 Group Financial KPIs
1 2Q-25 GROUP FINANCIAL KPIs Net Revenue 22% 15% 36% 20% Sports Betting Marketing costs as a % of Total Revenue G&A Expenses as a % of Total Revenue Direct Expenses as a % of Total Revenue 80% 27% Online Casino Adjusted EBITDA as a % of Total Revenue 18 1 Total Revenue includes Net Revenue (Net Reve
Slide 19: Marketing Costs as a % of Total Group Revenue
1 MARKETING COSTS AS A % OF TOTAL GROUP REVENUE 2 32% Marketing as a % of Total Revenue down -2.3% YoY 1H 2025 Average: 23.5% of Total Revenue 2025 Guide: 23% of Total Revenue 30% 29.2% 28.7% 28.9% 28.3% 28.0% 28% 26% 25.7% 25.5% 23.9% 24% 23.4% 23.4% 23.2% 22.0% 22% 21.8% 21.5% 20% 1Q 2Q 3Q 4Q 1Q 2
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Slide 21: 2025 Guidance, Drivers and Assumptions (USD)
2025 GUIDANCE, DRIVERS AND ASSUMPTIONS (USD) Organic growth from key markets; Marketing and Opex efficiencies; Reinvestment into high growth markets; U.S. iGaming Exit Combined Ex-U.S. U.S. Total Revenue >$2.04 >$2.0 >$40 billion billion million Adjusted EBITDA $470-$480 $500-$510 $(30) million mill
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Slide 23: Financial Results, Operating Basis (Group) - USD
1,4 FINANCIAL RESULTS, OPERATING BASIS (Group) - USD USD (Millions) 1Q-25 2Q-25 1Q-24 2Q-24 3Q-24 4Q-24 FY 2024 Net Revenue (Group) 511 570 401 439 437 531 1,808 Sports Betting 106 116 79 91 74 119 363 Online Casino 404 455 322 348 363 412 1,445 Other Revenue 6 9 11 8 6 3 28 2 Total Revenue (Group)
Slide 24: Financial Results, Operating Basis (Ex-U.S.) - USD
1,4 FINANCIAL RESULTS, OPERATING BASIS (EX-U.S.) - USD USD (Millions) 1Q-25 2Q-25 1Q-24 2Q-24 3Q-24 4Q-24 FY 2024 Net Revenue (Ex-US) 495 554 397 431 428 516 1,772 Sports Betting 106 116 79 89 74 119 361 Online Casino 389 438 318 342 354 398 1,412 Other Revenue 6 9 9 8 6 3 26 2 Total Revenue (Ex-US)
Slide 25: Financial Results, Operating Basis (U.S.) - USD
1,4 FINANCIAL RESULTS, OPERATING BASIS (U.S.) - USD USD (Millions) 1Q-25 2Q-25 1Q-24 2Q-24 3Q-24 4Q-24 FY 2024 Net Revenue (U.S.) 15 17 4 8 9 14 35 Sports Betting — — — 1 — — 1 Online Casino 15 17 3 6 9 14 32 Other Revenue — — 2 — — — 2 2 Total Revenue (U.S.) 15 17 6 8 9 14 36 3 Direct Expenses (10)
Slide 26: Reconciliation to Financial Statements in Form 6-K – EBITDA (USD)
RECONCILIATION TO FINANCIAL STATEMENTS IN FORM 6-K – EBITDA (USD) USD (Millions) 2Q-25 EBITDA 57 RSU expense 3 Impairment of assets 66 US iGaming closure 23 Unrealized foreign exchange 4 1 Other adjustments 4 Adjusted EBITDA 157 Adjusted EBITDA, ex-U.S. 162 Adjusted EBITDA, U.S. (5) 26 1 Other adjus
Slide 27: Detailed Share Count
1 DETAILED SHARE COUNT Shares (Millions) Shares Issued and Outstanding 505.7 Unvested Restricted stock units granted to employees 4.1 Fully Diluted Shares 509.7 27 1 As of March 31, 2025
Slide 28: Contact Us: investors@sghc.com
CONTACT US: investors@sghc.com 28