Betsson AB (BTSBF) Q1 2025 Earnings Call Transcript

2025-04-29 11:04:04 ET

Betsson AB (BTSBF)

Q1 2025 Results Conference Call

April 29, 2025 03:00 AM ET

Company Participants

Pontus Lindwall - President and Chief Executive Officer

Martin Öhman - Chief Financial Officer

Conference Call Participants

Oscar Rehnkvist - ABG Sundal Collier

Martin Arnell - DNB Markets

Dennis Peterson - Private Investor

Presentation

Pontus Lindwall

Hello, everyone, and welcome to Betsson's presentation of the Q1 report for 2025. I'm Pontus Lindwall, the President and CEO of Betsson. With me today is also our CFO, Martin Öhman. The start of the year has been strong with continued high customer activity and profitable growth for Betsson.

Despite fewer days and negative seasonal effects, some new quarterly records were set for customer deposits and gaming turnover in the first quarter. Total customer deposits across B2C and B2B increased 15% year-over-year. Total turnover was up 10% year-over-year. Sportsbook turnover increased 10%, and casino turnover was up 9% year-over-year. Group revenue increased by 18% year-over-year to EUR 294 million.

Operating income or EBIT increased by 11% year-over-year to EUR 64 million. The EBIT margin was 21.8%. The somewhat lower levels of revenue and EBIT compared to the fourth quarter of last year is explained by the lower sportsbook margin, which was 8% in Q1 compared to 9.8% in Q4 last year. I'm proud of our continued commitment to sport. In Q1, the partnership with Racing Club in Argentina was strengthened through a new agreement, meaning that Betsson is now the main sponsor of the club with the logo on the front of the team's jerseys....

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