Anticipated Soaring Revenue and Operating Profit for Q3 by Betsson
Fresh Take:
Swedish holding company, Betsson AB, announced their anticipated stellar Q3 results, promising a revenue and profit surge.
Record-Breaking Revenue and Profit on the Horizon
Betsson blew the whistle on Thursday, sharing their optimistic expectations for a revenue hike and record-breaking operating profit (EBIT) in the third quarter of 2022. They anticipate a revenue range of €199 million to €201 million ($196 million - $198 million) – a figure that would shatter all previous quarterly revenue records. This revenue projection represents a significant boost from the €170 million ($168 million) reported in Q3 2021.
The company also hinted at a promising EBIT result, expectantly reporting between €37.5 million to €39 million ($37 million - $38.5 million) for the third quarter. This bountiful EBIT would far surpass the €31.7 million ($31.3 million) reported in 2021's Q3.
Another impressive prediction? The sportsbook margin is anticipated to settle around 8.3%, roughly the same as the previous quarters this year. Remarkably, this margin outclasses the 7.7% reported in the eight quarters prior to 2022.
Phenomenal Performance fueled by Rejoicing Customers
The potential revenue and EBIT juggernauts are buoyed by the impressive showcase of casino and sportsbook operations. The company credits the imminent growth to a general surge in customer activity. Notably, Latin America, Central and Eastern Europe, and Central Asia have demonstrated remarkable growth, driving the revenue increase. Furthermore, the early commencement of this year's European football leagues in August has given an additional boost to their operations.
"Betsson aims to set new revenue and EBIT records in Q3, primarily owing to its casino and sportsbook achievements,"
In addition to enhancing sportsbook operations by investing in product development, Betsson has also extended its sportsbook presence in regulated markets. Expect further details on the interim report, slated for October 26, 2022.
Additional Insights:
- Betsson AB has displayed remarkable revenue growth in recent quarters, including an 18% increase in Q1 2025.
- The company boasts impressive EBITDA margins, such as a 26.5% margin in Q1 2025, demonstrating effective cost management and operational efficiency.
- Operating income (EBIT) has also experienced growth, for instance, an 11% increase in Q1 2025.
- Betsson's growth may be attributed to strategic market expansion and continuous product development.
- Analysts predict sustained growth in earnings and revenue, reflecting confidence in Betsson's strategic direction.
- Betsson AB, in the third quarter of 2022, expects to break its own revenue record, projecting a range of €199 million to €201 million, a significant increase from the €170 million reported in Q3 2021.
- The holding company also anticipates a record-breaking operating profit (EBIT) in the range of €37.5 million to €39 million for Q3 2022, surpassing the €31.7 million reported in 2021's Q3.
- The sportsbook margin is expected to be around 8.3% in Q3 2022, outperforming the 7.7% reported in the eight quarters prior.
- The surge in customer activity in regions like Latin America, Central and Eastern Europe, and Central Asia, coupled with the early commencement of European football leagues, fuels Betsson's anticipated revenue and EBIT growth.
- To enhance sportsbook operations, Betsson has invested in product development and extended its sportsbook presence in regulated markets.
- In Q3 2022, Betsson aims for a stellar performance in both casino and sportsbook operations, with further details to be disclosed in the interim report, scheduled for October 26, 2022.
