Internet betting firm Mr Green & Co AB has released its second quarter financial results, showing revenues up 40.8% when compared to the same period last year.
Key financial indicators for the quarter ending June 30th, 2014 were:
Revenue up 40.8 percent year-on-year to SEK161.4 million, bringing H1-2014 revenues to SEK316 million - up 41.4 percent;
EBITDA up 40.5 percent year-on-year to SEK38.5 million, bringing H1-2014 EBITDA to SEK 75.5 million up 45.3 percent;
Earnings per share before dilution: SEK 0.65 (Q2-2013: 0.47), and after dilution: SEK 0.65 (0.47);
EPS for H1-2014: before dilution: SEK 1.30 (H1-2013: (0.97), and after dilution: SEK 1.30 (0.97);
Active customers down at 63 110 (Q2-2013: 64 658);
Mobile channel now accounts for 22 percent of total revenue, up from a 14 percent a year ago.
Commenting on the results company CEO Mikael Pawlo said, "Our assessment is that Mr Green’s strategy of continuing to invest in product development, particularly for mobile utilization, and expansion into new countries will create favorable conditions to continue to significantly outgrow the market."
"Mr Green continues its organic expansion outside the Nordic region, which will reduce our dependence on individual regions. During the second quarter, the Nordic region accounted for 53.9 (67.0) percent of the total game win, while the rest of Europe accounted for 45.5 (32.7) percent and the rest of the world accounted for 0.6 (0.2) percent. We feel that it is strategically important that we are not solely dependent on the Nordic region or any other region."