Betsson AB Celebrates Record Year with Impressive 2023 Financial Results
Betsson AB (publ) has capped off its 60th year with remarkable financial achievements, showcasing strong growth in the fourth quarter and throughout 2023. The company’s strategic initiatives and focus on digitalisation have propelled it to new heights, emphasizing its pioneering role in the gaming industry.
Year-End Financial Highlights
In 2023, Betsson reported a 22% increase in group revenue, reaching EUR 948.2 million, with an organic growth of 40%. The company’s EBITDA surged by 52% to EUR 262.7 million, highlighting an efficient operational model with an EBITDA margin of 27.7%. Operating income (EBIT) saw a remarkable 60% increase, amounting to EUR 210.5 million, reflecting a strong EBIT margin of 22.2%.
The fourth quarter contributed significantly to this success, with group revenue up by 14% to EUR 251.9 million and an organic increase of 36%. Casino revenue led the growth with a 25% increase, despite a 5% decrease in Sportsbook revenue and a lower sportsbook margin of 6.2%.
CEO’s Reflections on a Milestone Year
Pontus Lindwall, CEO of Betsson, reflected on the company’s journey and its recent achievements, stating, “A new record year for Betsson ended with continued high customer activity and record-strong figures in the fourth quarter.” Lindwall highlighted the company’s commitment to product enhancement, geographic diversification, and growth in regulated markets as key drivers of its success.
The Board of Directors has proposed a 48% increase in the dividend for 2023 to EUR 0.645 per share, underscoring Betsson’s robust financial health and strong cash flows. This proposal reflects the company’s ability to reward shareholders while investing in future growth opportunities.
Strategic Moves and Market Expansion
Betsson’s strategic focus includes increasing its presence in locally regulated markets, with revenue from these markets rising to 45.9% in the fourth quarter. The company is also preparing to enter new markets like Peru and Brazil, anticipating the introduction of online gaming licensing systems in 2024.
In addition to market expansion, Betsson continues to strengthen its brand presence in sports, notably through a shirt sponsorship deal with Colombia’s Atletico Nacional and a new collaboration in Greek football.
Looking Ahead with Confidence
Lindwall expressed optimism for 2024, citing Betsson’s strong financial position, proprietary technology, and attractive customer offerings as key factors for continued success. He also extended his gratitude to Betsson’s employees and shareholders for their contributions and trust throughout the year.
Betsson AB’s year-end report for 2023 reflects a company that is not only celebrating a milestone anniversary but also achieving record financial results. With strategic initiatives in place and an eye on expanding in regulated markets, Betsson is well-positioned for sustained growth and shareholder value creation in the years to come.
