Betsson AB (BETS_B) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Betson Q4 Report 2025. For the first part of the conference call, the participants will be in listen-only mode. During the questions and answers session, participants are able to ask questions by dialing pound key 5 on their telephone keypad. Now I will hand the conference over to CEO Pontus Lindwall and CFO Martin Omen. Please go ahead. Thank you. Good morning and welcome to Betsson's presentation of the fourth quarter of 2025. I'm Pontus Lindvall, the president and CEO of Betsson. With me and presenting today is also our CFO, Martin Öhman. In Q4, we saw continued good customer activity with an increased number of active players compared to the same period last year. Revenue amounted to 304 million euros and operating income was 53 million in the quarter. The EBIT margin was 17.5% for the period. Casino revenue was up 3% year over year, while sportsbook revenue was down 9%. The sportsbook revenue was negatively impacted by a lower sportsbook margin in the quarter. We ended the year with a strong net cash position of 158 million euros. Regionally, Western Europe and Latin America continued to show revenue growth, while revenue from Nordic region and Seca declined. Revenue from our B2C operations continued to increase, thanks to successful product and marketing investments, while revenue from our B2B business was lower than the comparison period last year. The decline in the B2B was mainly due to one of Betsson's customers having lower activity than in the corresponding period in the previous year. The share of revenue from locally regulated markets continued to increase and reached an all-time high of 68%, which consequently drove higher gaming taxes. We continued to invest in the product and technology organization to strengthen the customer experience an...