Unibet Releases Solid First Quarter 2013 Financials

Malta based internet betting firm Unibet has released its first quarter 2013 financial results, noting increases in operational profits and win revenues.

Key financial indicators for the period ending March 31st, 2013 were:

• Gross win revenues were up 16% from the same period last year to £59.3 million.

• EBITDA up by 11.7% year-on-year to £17.1 million

• Operational profit rose some 7.7% to £12.5 million.

• Operational cashflow before movements in working capital grew by 11.7% year-on-year to £17.1 million.

• 489,923 active players - 86,135 up compared with the same three-month period last year.

• Profit before tax declined by 2.5% year-on-year to £11.4 million, and the after tax number was 1.85% lower at £10.6 million compared with the same period last year.

Commenting on his company's performance, Unibet CEO Henrik Tjarnstrom said: “We have noted a continued strong development of the business in recently re-regulated markets such as Denmark and Belgium where we have invested further in marketing. Our mobile offering continues to grow and is now over 16% of gross win revenues."

“More than 26% of Unibet’s gross winnings revenues for the first quarter came from locally regulated markets. All re-regulated markets delivered improved results compared to the fourth quarter of 2012 and the locally regulated markets combined made significant positive earnings before interest, tax, depreciation and amortisation contribution."

“Our strong cashflow has enabled us to repay the full loan balance during the quarter."

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