Reports
Publicerat: 2021-11-10 08:00:00
Q3: Increase in Customer Deposits of almost 6%. Q1-Q3: All-Time High in Revenues in the first 9 months of 2021
Key Facts for the 3rd Quarter 2021 (1st July 2021 – 30th September 2021) Customer deposits increased almost 6% All figures are compared to the same quarter last year if not explicitly stated otherwise Events after Q3 Key Facts for 2021 (1st January 2021 – 30th September 2021) All-time high in Revenues All figures are compared to 2020 if not explicitly stated otherwise Comments from the CEO Thomas Kalita, CEO, comments: "The revenues in Q3 2021 were in line with the revenues in Q3 2020. Although this is far from the growth ambitions the Group has, we saw some improvements compared to Q2 2021, especially in the EBIT margin, where May and June suffered from much lower EBIT margin than we have got used to, mainly as a result of higher Cost of Sales, customer bonus cost and lower revenues than expected, in particular due to more Sportsbook markets being available. We are pleased that the Sportsbook we launched only a few months back, on 13th of June, already represents almost 10% of the new depositing customers in Q3. In addition, customer deposits, an important KPI, are almost 6% higher compared to Q3 2020. The turn-around project, that started due to lower activity level as announced the 12th of July and in the Q2 report, have now started to show positive effect. As presented in the graph below, the monthly EBIT (in %) were low in May and June, but significantly improved in the subsequent months. The unusually high players winnings in September had negatively affected the September revenue and the higher player winnings continued in October. However, such fluctuations of winnings are to be expected from time to time. The Net Gaming Revenues for the first 35 days in Q4 2021 are 13.7% lower compared to the Net Gaming Revenues for the same period in 2020. In the first 9 months of 2021 the revenues increased by 7% compared to the same period in 2020 and net profit decreased by 10% to €7,223,279.