Internet betting group Betsson has posted its full year 2015 financial results, noting a 23% increase in revenues and a 20% jump in gross profits.
Key financial indicators for the year ending December 31st, 2015 were:
- Group revenues of SEK 3,722 million (2014: SEK 3,035.1 million), an increase of 23 percent.
- Gross profit was SEK 2,675.6 million (2014: SEK 2,231.3 million), up 20 percent.
- Operating income increased to SEK 886.4 million (2014: SEK 821.2 million) and operating margin amounted to 23.8 percent (2014: 27.1 percent).
- Income before tax increased to SEK 883.0 million (2014: SEK 814.8 million) and net income increased to SEK 831.7 million (2014: SEK 770.7 million).
- Transfer to shareholders of SEK 623.8 million (2014: SEK 549.3 million) proposed, which corresponds to SEK 4.51 (2014: SEK 3.98 per share).
Figures for the fourth quarter of 2015 were:
- Customer deposits in all of Betsson's gaming solutions amounted to SEK 3,471.4 million (Q4/2014: SEK 2,977.1 million, an increase of 17 percent.
- Gross turnover in Sportsbook amounted to SEK 6,428.8 million (Q4/2014: SEK 5,074.8 million, up 27 percent.
- Mobile revenue represented 36 percent (Q4/2014: 23 percent) total revenue and amounted to SEK 373.3 million (Q4/2014: SEK 186.6 million, an increase of 100 percent.
- Recently acquired Europe-Bet grew 21 percent (in local currency revenue by 27 per cent) and contributed SEK 21.8 million to the Group's operating income. Of Europe-Bet's revenue during the quarter, SEK 20.1 million was derived from land-based operations.
Commenting on his company's performance Betsson CEO Pontus Lindwall said, "We are really pleased that our underlying organic earnings are increasing more than our revenue, adjusted for exchange rate fluctuations. This shows that Betsson has one of the most efficient strategies in this industry."