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Unibet Showcases Bright Financial Results

Swedish online betting destination Unibet has published its third quarter 2013 financial results, noting a great performance for its mobile betting products.

Key financial indicators for the quarter ending September 30th, 2013 were:

  • Gross winnings revenue of £56.1 million (Q3/2012: £43.8 million)

  • Profit from operations of £9.2 million (Q3/2012: £4.5 million)

  • Profit before tax of £9.2 million (Q3/2012: £4.0 million)

  • Profit after tax of £8.2 million (Q3/2012: £3.4 million)

  • Earnings per share of £0.292 million (Q3/2012: £0.120 million)

  • Operating cash flow before movements in working capital amounted to £14.2 million (Q3/2012: £8.7 million)

  • Number of active customers was 453,753 million (Q3/2012: £382,378 million)

Financial results for the first nine months of the year were:

  • Gross winnings revenue of £169.5 million (9M/2012: £140.3 million)

  • Profit from operations of £29.0 million (9M/2012: £22.6 million)

  • Profit before tax of £27.9 million (9M/2012: £22.1 million)

  • Profit after tax of £25.4 million (9M/2012: £19.8 million)

  • Earnings per share of £0.908 million (9M/2012: £0.710 million)

  • Operating cash flow before movements in working capital of £43.4 million (9M/2012: £34.2 million)

Commenting on the results Unibet CEO Henrik Tjärnström said, "Unibet delivered 28% year on year growth in gross winnings revenue in the third quarter (22% excluding the impact of exchange rate changes million). This was achieved despite the excellent summer weather in many of our key markets and high numbers of favorites winning. The growth was wholly organic and demonstrates continued increases in market share."

"It is also satisfying to report that underlying EBITDA for the third quarter increased in line with the growth in revenues, demonstrating improved scalability despite the significant investments Unibet has made in information mining, local regulation and in Kambi."

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