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Unibet Publishes High Quarterly Numbers

Internet betting firm Unibet has published its first quarter 2014 financial results, revealing that the firm brought in an all time record for profit and gross winning revenues.

Key financial indicators for the quarter ending March 31st, 2014 were:

  • Gross winnings revenue amounted to GBP 67.6 million (Q1/2013: GBP 59.3 million), up 14 percent

  • EBITDA was GBP 21.3 million (Q1/2013: GBP 17.1 million), up 24.5 percent year-on-year.

  • Profit from operations of GBP 16.6 million (Q1/2013: GBP 12.5 million), up 33 percent.

  • Profit before tax amounted to GBP 16.5 million (Q1/2013: GBP 11.4 million).

  • Profit after tax amounted to GBP 15.3 million (Q1/2013: GBP 10.6 million), up 44 percent.

  • Earnings per share was GBP 0.544 (Q1/2013: GBP 0.378).

  • Operating cash flow before movements in working capital amounted to GBP 21.5 million (Q1/2013: GBP 17.1 million).

  • Active customers at the end of the quarter increased to 552,338 (Q1/2013: 489,923).

  • Re-regulated gross winnings revenue was 29 percent of the total gross winnings revenue.

  • Sports betting turnover was up by 18 percent (26 percent in local currency)

  • Casino gross winnings revenue was up by 15 percent (23 percent in local currency)

Commenting on his company's performance Unibet CEO Henrik Tjärnström said that the company's results were generated through organic business growth as well as sports betting margins of 8%.

The company's growing mobile platform contributed to 31% of Unibet's Gross Winnings.

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