Press release from Companies
Published: 2020-11-11 08:00:00
Q3 2020: Second Best Quarter Ever
Key Facts for Q3 2020 (July 2020 – September 2020) Q3: Second Best Quarter Ever All figures are compared to the same quarter last year if not explicitly stated otherwise Events after Q3 2020 Key Facts for January - September 2020 All-time high in Revenues and Profits All figures are compared to Jan-Sep 2019 if not explicitly stated otherwise CEO comment Thomas Kalita comments: "We are satisfied with the result in Q3, being the second best quarter ever in the Group’s history as regards Revenues and EBIT. Our excellent people, operations and investments in various fields continued to pay off in Q3. In Q3 we experienced an unusually high financial costs due to unusually high fluctuations of foreign exchange rates, that effected the Net Profit. We responded to this extraordinary situation by swiftly implementing mitigating measures and changing our systems, so that going forward we have much lower exposure to exchange rate fluctuations. We have in Q3 signed a new B-to-B partnership, i.e. a White Label partnership where we provide the platform and the White Label provides the brand and new customers. We expect the partnership to generate additional revenues and contribute positively to the result during Q1 2021. We are also in further talks with additional potential B-to-B partnerships. We are particularly pleased with how Q4 has started, since the average daily Net Gaming Revenue for the 31 first days in Q4 2020 (October) is 10% higher compared to the average daily Net Gaming Revenue in Q3 2020. The Net Gaming Revenue for October 2020 is 52% higher compared to October 2019. When it comes to the record result for the first nine months in 2020 we are extremely pleased. In just nine months of 2020, the Group’s performance reached and by far exceeded the 2019 full year Revenues and Earnings per share, as is clearly visualized in the graphs on the previous page. We continue to look for acquisitions and other opportunities and it is with pleasure that we are launching a new brand during November 2020, which should positively affect the revenues in December 2020."