Betsson hails ‘efficient strategies’ as revenue jumps in 2015

Betsson hails ‘efficient strategies’ as revenue jumps in 2015Betsson has cited the ongoing impact of “efficient strategies” as the main reason behind a year-on-year organic growth in revenue during the 12 months through to December 31, 2015.

Revenue amounted to just over SEK 3.7 billion (€393.8 million/$440.8 million) in 2015, which represents an increase of 28% on the SEK 814.7 million posted in the previous 12-month period.

Operating income increased from SEK 812.2 million to SEK 886.4 million, while income before tax was also up from SEK 814.8 million to SEK 883 million.

Betsson also said that full-year net income amounted to SEK 831.7 million, up from SEK 770.7 million in the previous year, which corresponds to SEK 6.02 per share.

Pontus Lindwall, president and chief executive of Betsson, said: “We are really pleased that our underlying organic earnings is increasing more than our revenue, adjusted for exchange rate fluctuations.

“Betsson reports an adjusted growth in operating profit of 27% and a strong organic growth in revenues.

“This shows that Betsson has one of the most efficient strategies in this industry.”

Betsson also noted that operating income would have been even higher had it not been for a historic tax payout to German authorities in the fourth quarter.

The company agreed to pay SEK 113 million in historic tax on sports betting to the German government, in relation to a tax return dated July 1, 2012, through to December 31, 2015.

Betsson said it now intends to submit returns for gaming tax in the country on a monthly basis.

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