Super Group Reports Record-Breaking Q2 Financial Results
Super Group has unveiled its financial results for the second quarter, showcasing outstanding performance and record-breaking achievements. The company reported its highest-ever quarterly Non-GAAP ex-US adjusted EBITDA, reaching nearly $107 million.
Strong Financial Performance
Alinda van Wyk, the CFO of Super Group, expressed satisfaction with the company’s achievements. “We achieved new quarterly records for the ex-US business for both total revenue and adjusted EBITDA. The continued focus on growth in key markets, along with the significant progress made on realizing cost efficiencies, contributed to a strong second quarter ex-US EBITDA margin of 24%,” she stated.
Total company revenue for the quarter saw a 9% increase, reaching nearly $452 million.
Regional Contributions
In North America, revenue hit $163.7 million, while the South American and LatAm regions contributed an additional $8.7 million.
The adjusted EBITDA ex-US for the quarter was close to $89 million, highlighting the company’s strong performance outside the US market.
CEO’s Optimistic Outlook
Super Group’s CEO, Neal Menashe, highlighted the company’s accomplishments and expressed optimism for the future.
“The second quarter of 2024 was our strongest quarter ever and demonstrates the exceptional progress we continue to make as a business. I’m glad we have reached a conclusion in shutting the US sports betting market and we continue more generally to optimize our global footprint both in terms of geography and product,” he commented.
Exciting Sponsorship Deals
Menashe also shared his excitement about the company’s brand sponsorship deals. “I’m really excited to welcome English Premier League champions, Manchester City, and South Africa’s Premier Soccer League, now known as the Betway Premiership, to our brand sponsorship portfolio. Our outlook for the remainder of the year is strong, and we look forward to making 2024 a super year for Super Group.”
