Slide 1: Interim Report January – September 2025
Interim Report January – September 2025 23rd October 2025 CEO, Martin Carlesund CFO, Joakim Andersson
Slide 2: Highlights in the quarter
Highlights in the quarter Financial highlights • Net revenues decreased by 2.4% to EUR 507.1 million (519.4) • Live growth -3.4% to EUR 431.7 million (446.9) • RNG growth +4.1% to EUR 75.5 million (72.5) • EBITDA amounted to EUR 336.9 million (355.6), corresponding to a margin of 66.4% (68.5)(1) Ope
Slide 3: Operational KPIs
Operational KPIs Headcount end of period Game Rounds index – all games 25 000 500 22 223 22 248 21 652 21 141 20 772 21 252 450 20 537 19 221 386 20 000 400 376 369 376 357 355 17 331 17 447 17 823 339 350 301 15 000 300 275 277 254 250 10 000 200 150 5 000 100 50 0 0 23Q1 23Q2 23Q3 23Q4 24Q1 24Q2 2
Slide 4: DRAGON
DRAGON TIGER, Insurance Baccarat RHOENIX SHEOKY SLOTS
Slide 5: Regional Update – Europe & Asia
Regional Update – Europe & Asia Europe Asia 205,0 201,8 240,0 200,0 194,9 220,0 209,1 195,0 197,6 200,7 202,2 202,2 201,9 191,0 191,3 189,7 200,0 189,1 190,0 180,0 185,0 182,2 180,2 160,0 180,0 140,0 175,0 170,0 120,0 165,0 100,0 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q1-24 Q2-24 Q3-24 Q4-24 Q1-2
Slide 6: Regional Update – North & Latin America
Regional Update – North & Latin America North America Latin America 85,0 45,0 43,0 80,0 74,2 41,0 39,8 74,0 38,5 75,0 71,5 39,0 37,6 70,6 37,4 36,6 36,2 70,0 37,0 64,8 65,0 62,1 35,0 33,0 60,2 33,0 60,0 31,0 55,0 29,0 50,0 27,0 45,0 25,0 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q1-24 Q2-24 Q3-24 Q4
Slide 7: Financial development
Financial development Revenue & Profitability Regulated Revenue 50% 46% 45% 44% 44% 69,9% 70,7% 70,4% 70,9% 45% 69,3% 69,0% 69,0% 68,6% 68,5% 68,1% 42% 68,0% 42% 66,4% 41% 65,6% 65,9% 39% 39% 39% 40% 39% 39% 39% 533,8 40% 519,4 520,9 524,3 501,5 508,4 507,1 475,3 441,1 452,6 35% 429,6 407,5 378,5 36
Slide 8: Profit & Loss
Profit & Loss P&L Statement Jul-Sep Jul-Sep Jan-Sep Jan-Sep Comments Group, EUR thousands 2025 2024 2025 2024 Revenues - Live 431,666 446,878 1,334,026 1,316,287 • Net revenues of EUR 507.1m corresponding to a negative growth of 2.4% Revenues - RNG 75,457 72,501 218,310 212,953 YoY and negative 3.3%
Slide 9: Cash Flow
Cash Flow Operating cash flow Capital expenditure 100% 50 8% 350 90% 45 7% 300 80% 40 6% 250 70% 35 60% 30 5% 200 50% 25 4% 150 40% 20 3% 100 30% 15 2% 20% 10 50 10% 5 1% 0 0% 0 0% 22Q1 22Q2 22Q3 22Q4 23Q1 23Q2 23Q3 23Q4 24Q1 24Q2 24Q3 24Q4 25Q1 25Q2 25Q3 22Q1 22Q2 22Q3 22Q4 23Q1 23Q2 23Q3 23Q4 24Q1
Slide 10: Financial Position
Financial Position Balance Sheet Summary EURm 30/9/2025 31/12/2024 Comments Goodwill 2,336.2 2,276.5 • Strong financial position remains Other non-current assets 954.0 963.5 Bond portfolio 103.2 100.8 • Total of EUR 759.6m of cash and bond portfolio Total non-current assets 3,393.4 3,340.9 • Total e
Slide 11: Outlook & Capital allocation
Outlook & Capital allocation Outlook • Margin estimate of 66-68% remains; full speed ahead • Product leap years continue; 110+ new games in 2025 • Asia remains volatile Capital allocation • Capex 2025 forecast: EUR 140m • Dividend policy: • Minimum 50% of net profit • 100% of excess cash distributed
Slide 12: Q&A
Q&A