Unibet enjoys full-year revenue growth

Unibet enjoys full-year revenue growthOnline gaming operator Unibet has cited a continued focus on efficiency and re-regulated markets as the reasons behind year-on-year revenue growth during the 12 months through to December 31, 2013.

The firm reported that gross winnings revenue for 2013 totalled £234.7 million (€282.1 million/$385.6 million), an increase on the £197.2 million achieved in the previous year.

Earnings before interest, tax, depreciation and amortisation also increased from £52.5 million in the previous year to £63.4 million in 2014.

In addition, profit after tax for the full year increased from £31.6 million in 2012 to £40.1 million in 2014.

Unibet’s full-year figures were also boosted by the firm’s impressive performance in the fourth quarter of 2013.

The firm posted revenue of £65.2 million for the period, up from £56.9 in the corresponding quarter in 2012.

EBITDA also increased to £20.2 million in the fourth quarter, while profit after tax finished at £14.7 million for the period.

Henrik Tjärnström, chief executive officer of Unibet, said: “Gross winnings revenue for the fourth quarter increased 15% compared to the same period in 2012.

“Re-regulated gross winnings revenue increased to 29% of total gross winnings revenue reflecting the strategy initiated three years ago to transform our business.

“Continued focus on efficiency meant that EBITDA increased by 20% while profit after tax and earnings per share both increased by 25%.

“These increases were achieved after taking account of a 50% year-on-year increase in betting duties and Unibet’s focus on re-regulated markets demonstrates that it is possible to drive efficiency and increased profitability while reducing overall corporate risk.”

source : www.igamingbusiness.com

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