Internet betting firm Betsson has released its fourth quarter and full year 2013 financial results, noting that revenues rose, despite a slower fourth quarter than intended.
Key financial indicators for the quarter ending December 31st, 2013 were:
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 and by an amount of SEK 26.3 million due to unfavorable 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%.
Active customers at 401,400, down from Q4,2012's 520,400.
Customer deposits in all of Betsson's gaming solutions were well up and 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.
Full year financial results were:
Revenues up by 12% to SEK 2,476.7 (2,203.7) million. However, the accumulated effect of unfavorable 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.
Commenting on his company's performance Betsson CEO Magnus Silfverberg said, "With the acquisition of Oranje and Kroon Casino Betsson gains a strategic position in the Netherlands and 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% 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 and mobile offers. These initiatives have already had a positive impact and contributed to the strong underlying activity and growth in the key product segment Casino, which despite unfavorable exchange fluctuations and strong comparable figures grew by 8%."