Internet betting group LeoVegas has announced that they're setting the goal of reaching £600 million in annual revenues by the year 2020.
The company made the announcement after the group's board decided on the goal after recent performance and acquisitions, which they feel will make the goal possible. The board also is trying to reach £100 million in EBITDA by that year as well as EBITDA margin of at least 15%.
Commenting on the goals LeoVegas CEO Gustaf Hagman said, "Following our acquisitions we have now drawn up new financial targets. In 2015 we set the target to achieve €300m in revenue by 2018.
"The new revenue target entails a doubling to at least €600m by 2020 and does not include potential major acquisitions.
"At the same time, we are aiming for EBITDA of at least €100m, which implies adjusted earnings per share of at least SEK8 by 2020.
"The new targets confirm our continued focus on strong growth combined with a sound view of profitability.
"The targets create transparency regarding where we are headed, both internally and externally."