Betsson declares Q4 and FY 2013 results

Betsson to distribute Metric Gaming’s SuperLive productThe Swedish online gambling group Betsson has posted its Q4 & FY 2013 results, showcasing a somewhat weaker quarterly performance but a solid full year.

Fourth quarter performance indicators included:

* Revenues up at SEK 655.5 (Q4 2012 :651.9) million.

* High underlying activity, although revenues were negatively impacted by record low Sportsbook margin in Q4 & by an amount of SEK 26.3 million due to unfavourable exchange rate fluctuations.

* Operating income down at SEK 150.0 (Q4 2012: 173.4) million.

* Income before lower at SEK 149.0 (Q4 2012: 173.4) million.

* Net income reduced to SEK 140.9 (Q4 2012: 166.9) million, corresponding to SEK 3.24 (3.95) per share.

* All-time high gross turnover in Sportsbook, including all gaming solutions, at SEK 4,094.6 (Q4 2012: 3,782.8) million, an increase of 8 percent.

* Active customers at 401,400, down from Q4 2012’s 520,400.

* Customer deposits in all of Betsson’s gaming solutions were well up & amounted to SEK 2,262.3 (Q4 2012: 2,154.8) million.

* The Board proposes a distribution to shareholders of SEK 421.5 million, corresponding to SEK 9.71 per share. The distribution per share will be affected somewhat through planned new share issues.

In a trading update, the company advised that following the reporting quarter Betsson acquired Class One Holding Ltd which operates the brands Oranje & Kroon Casino. The enterprise had revenues of Euro 32.5 million in 2013, & the EBIT margin of 67,8 percent.

Betsson reported that its full year result for 2013 included:

* Revenues up by 12 percent to SEK 2,476.7 (2,203.7) million. However, the accumulated effect of unfavourable exchange rate fluctuations negatively impacted turnover for the year by SEK 78.3 million.

* Operating income amounted to SEK 601.1 (FY 2012: 577.1) million.

* Income before tax amounted to SEK 596.2 (FY 2012: 573.6) million.

* Net income amounted to SEK 562.0 (FY 2012: 547.8) million, corresponding to SEK 12.98 (13.04) per share.

Betsson CEO & president Magnus Silfverberg commented:

“With the acquisition of Oranje & Kroon Casino Betsson gains a strategic position in the Netherlands & will be one of the largest operators in the Dutch gaming market.

“This market is expected to be re-regulated in 2015 and, when this takes place, Betsson’s total profits from locally-regulated markets is expected to comprise over 25 percent of the Group’s overall profit.

“At the same time, the optimization of the operating entities continues through individual real-time customer communication, digital marketing & mobile offers. These initiatives have already had a positive impact & contributed to the strong underlying activity & growth in the key product segment Casino, which despite unfavourable exchange fluctuations & strong comparable figures grew by 8 percent.”

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