Second quarter and first half year summary
Gross winnings revenue and cost of sales for all periods in this report have been restated as explained in Unibet’s press release of 10 July 2014.
The result for the second quarter of 2014 includes Kambi’s results up to 31 May 2014 and also contains a significant non-recurring net gain of GBP 35.3 million as a result of the disposal of Kambi and a GBP 2.2 million adjustment to fair value of contingent consideration related to the Betchoice acquisition.
Excluding the gain on disposal of Kambi and other non-recurring items:
Underlying EBITDA for the second quarter of 2014 increased by 38% to GBP 16.7 (12.1) million.
Underlying profit from operations for the second quarter of 2014 increased by 51% to GBP 12.4 (8.2) million.
Underlying earnings per share for the second quarter increased by 47% to GBP 0.401 (0.272).
- Gross winnings revenue increased by 24 per cent to GBP 77.1 (62.0) million for the second quarter of 2014 and amounted to GBP 153.6 (129.6) million for the first half year 2014.
- Successful disposal of Kambi completed during the second quarter, giving rise to non-recurring non-cash net gain of GBP 35.3 million, realising additional shareholder value and allowing Unibet to secure strategic focus on providing the best player experience in the market.
- Excluding non-recurring items, underlying EBITDA for the second quarter of 2014 increased by 38 per cent to GBP 16.7 (12.1) million.
- Profit before tax for the second quarter of 2014 amounted to GBP 49.0 (7.2) million. Profit before tax for the first half year 2014 amounted to GBP 65.5 (18.6) million.
- Profit after tax for the second quarter of 2014 amounted to GBP 48.1 (6.7) million. Profit after tax for the first half year 2014 amounted to GBP 63.4 (17.2) million.
- EPS for the second quarter of 2014 were GBP 1.707 (0.238) and GBP 2.255 (0.616) for the first half year 2014. Underlying EPS for the second quarter of 2014 increased by 47 per cent to GBP 0.401 (0.272).
- Number of active customers for the quarter increased by 37 per cent to 610,319 (446,649).
“Continued market share gains drive 51 per cent organic growth in underlying EBIT”
"The quarter was characterised by the 2014 World Cup which provided a significant new all time high in customer activity and continued strong organic growth. Gross winnings revenue increased 33 per cent in local currencies which means that we are continuing to gain market shares. Of the gross winnings revenue 29 per cent was from locally regulated markets.”
“Our continued focus on efficiency meant that, despite significantly increased marketing investments, underlying EBITDA for the second quarter increased by 38 per cent and earnings per share by 47 per cent.”
“The mobile channel accounted for 32 per cent of the total gross winnings revenue and 47 per cent of gross winnings revenue in the sportsbook. Strong growth in mobile casino contributed to a new all-time high in Casino revenues and helped to strengthen Unibet’s existing leadership position in Western European markets with 58 per cent organic growth.”
“For the period to 3 August 2014, average daily gross winnings revenue for the third quarter increased by 7 per cent compared to the daily average In the second quarter 2014”, says Henrik Tjärnström, CEO of Unibet.
Today, Wednesday 6 August 2014, Unibet’s CEO Henrik Tjärnström will host a presentation in English at FinancialHearings, Operaterrassen in Stockholm at 9.00 CEST. 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 UK +44 20 7660 2077 or from the USA +1 855 7161 596
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 7887 996 116
Henrik Tjärnström, CEO +356 2133 7885 or +44 7515 975 629
Unibet was founded in 1997 and is an online gambling company listed on NASDAQ OMX Stockholm. Unibet is one of the largest privately-owned gambling operators in the European market and provides services in 27 languages through www.unibet.com, www.unibet.dk, www.unibet.fr, www.unibet.it, www.unibet.be, www.unibet.ee, www.unibet.com.au, www.maria.com, www.mariacasino.ee and www.mariacasino.dk. Today, Unibet has 9.2 million registered 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 and twitter.com/UnibetGroup