Internet betting operator Unibet has announced their quarterly financial results, noting another solid quarter of performance.
Key financial indicators for the quarter ending March 31st, 2015 were:
Gross winnings revenue of GBP 76.1 million (Q1/2014: GBP 76.5 million).
EBITDA of GBP 14.4 million (Q1/2014: GBP 21.3 million).
Profit from operations of GBP 11.3 million (Q1/2014: GBP 16.6 million).
Profit before tax amounted to GBP 11.3 million (Q1/2014: GBP 16.5 million).
Profit after tax amounted to GBP 10.0 million (Q1/2014: GBP 15.3 million).
Earnings per share for the first quarter of 2015 were GBP 0.351 (Q1/2014: GBP 0.544).
Active customers increased to 612 269 (Q1/2014: 552 338).
All time high in customer deposits of 12 percent in GBP and 24 percent in constant currency.
Sports betting turnover up 17 percent in GBP and 30 percent in constant currency.
Strong growth in mobile, the channel now accounts for 48 percent of gross winnings revenue.
28 percent of gross winnings revenue derived from locally regulated markets.
Revenue amounted to Euro 10.0 million (Q1/2014: 7.7 million), an increase of 29 percent.
Operating profit (EBIT) was Euro 0.8 million (Q1/2014: Euro -0.1 million), with a margin of 8 percent (-1 percent)
Profit after Tax amounted to Euro 0.6 million (Q1/2014: Euro -0.3 million)
Earnings per share were Euro 0.020 (Q1/2014: Euro -0.017)
Cash flow from operating and investing activities (excluding working capital) amounted to Euro 1.0 million (Q1/2014: Euro 0.0 million)
Commenting on the results Unibet CEO Kritian Nylen said, “We are positive about regulatory changes in the Italian market and the opportunities they give us, as we prepare the launch of a premium offering compliant with the new regulation. We continue to strengthen our sales team and are in a number of ongoing discussions with potential customers."