4 Gross winnings revenue amounted to GBP 37.5 (41.8) million for the first quarter of 2011.
4 Profit from operations for the first quarter of 2011 amounted to GBP 11.2 (10.6) million.
4 Profit before tax for the first quarter of 2011 amounted to GBP 10.8 (10.3) million.
4 Profit after tax for the first quarter of 2011 amounted to GBP 10.0 (9.5) million.
4 Earnings per share were GBP 0.355 (0.339) for the first quarter of 2011.
4 Operating cash flow before movements in working capital amounted to GBP 13.2 (13.1) million for the first quarter 2011.
4 Number of active customers at the end of the quarter was 328,054 (379,473).
“Another strong quarter”
“I am pleased to announce that the first quarter of 2011 was another strong quarter for Unibet were we have continued to perform well across all our major markets fully in line with our strategy.”
“In the Nordics the growth year on year was 24 per cent which shows that we are gaining strong market share. The rest of the business has also grown well especially considering that France represented 23 per cent of the gross winnings revenue last year. Excluding France, gross winnings revenue has grown by 16 per cent during the first quarter 2011 compared with a strong first quarter 2010.”
“The revised strategy for the next three years developed over the last months is being successfully implemented. This strong performance in the Nordics is a concrete example of the renewed focus on core markets, better marketing differentiation and improved operational efficiency all of which are key components of our revised strategy. Our strategy is focused on delivering sustainable and profitable growth even as Europe’s markets develop and re-regulate.”
“Sports margins in April were in line with more normal long-term trends, while casino, games and bingo have continued the strong performance from the first quarter. It is too early to tell how much the European poker market will be affected by the recent developments in the USA.”
“I expect consolidation within our industry to develop further, and we continue to evaluate opportunities that enhance shareholder value. Options for controlled growth in new regions are also constantly under review, with Unibet focusing on regions with high potential for long-term profitability. The cash reserve being built up combined with the Group’s strong profitability and cash flow gives us flexibility to consider strategic opportunities including acquisitions. The cash reserve may be distributed to the shareholders should these opportunities not materialise in due course. That could be either as a share buy back programme, through a share redemption programme or as a cash dividend”, says Henrik Tjärnström, CEO of Unibet.
Today, Wednesday 11 May 2011, Unibet’s CEO Henrik Tjärnström will host a presentation in English at FinancialHearings, Operaterrassen in Stockholm at 9.00 CET.
Please go to www.financialhearings.com to sign in.
For those who would like to participate in the telephone conference in connection with the presentation, the telephone number is +44 (0)20 7806 1967 Confirmation Code: 2826542
Please call in, well in advance and register.
The presentation is also web cast live on www.unibetgroupplc.com.
For further information please contact:
Inga Lundberg, Investor Relations +44 788 799 6116 Henrik Tjärnström, CEO +44 7515 975 629
Unibet was founded in 1997 and is an online gambling company listed on NASDAQ OMX Nordic Exchange in Stockholm. Unibet is one of the largest privately owned gambling operators in the European market and provides services in 28 languages through www.unibet.com
Today, Unibet has more than 5.1 million customers in over 100 countries. Unibet is a member of the EGBA, European Gaming and Betting Association, RGA, Remote Gambling Association in the UK and is audited and certified by eCOGRA in relation to responsible and fair gaming.
More information about Unibet Group plc can be found on www.unibetgroupplc.com