Revenue continues to grow at Unibet

(UK).- Malta-based online gambling operator Unibet Group has released its unaudited financial results for the twelve months of 2011 showing an almost five percent increase in gross winnings revenues us$ 242.4 million.

2012-02-17

United Kingdom

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(UK).- Malta-based online gambling operator Unibet Group has released its unaudited financial results for the twelve months of 2011 showing an almost five percent increase in gross winnings revenues us$ 242.4 million.

Unibet revealed that profits from continuing operations amounted to us$ 60.9 million for the year, which was a 13 percent year-on-year rise, while profits before tax climbed over twelve percent to reach us$ 59.8 million. Operating cashflow before movements in working capital for the year amounted to us$ 76.1 million, which is up from us$ 69.8 million from 2010, while Unibet stated that the number of active customers at the end of the quarter ascended by over 91,000 to 400,697.

The fourth quarter saw Unibet successfully complete the acquisition of Solfive for a total cash consideration of us$ 12.7 million while profits before tax for this three-month period grew 29 percent year-on-year to us$ 18.6 million while those after tax rose 13 percent when compared to the same period in 2010 to us$ 17.7 million. “We are very satisfied to announce another quarter with strong organic growth,” said Henrik Tjarnstrom, CEO for Unibet.

“Gross winnings revenues and profits from operations were up 26 percent quarter-on-quarter. Our focus on core markets continues to deliver excellent results with all-time high revenues for the Nordic region and this growth has been achieved across both the Unibet and Maria brands. The sustained positive development we have seen in the products offered under the Maria brand continued strongly in this quarter so that Maria delivered an all-time high for both the quarter and the full-year.

“During the first six weeks of 2012 we have seen continued good growth both in terms of revenues and customer registrations. We also see encouraging growth in customer intake in Denmark. We will continue to focus on our core markets to strengthen our position in the changing European landscape. In line with our acquisition strategy, we have also made two strategic investments to broaden the geographical and product range, one in France and one in Australia. This combined with our developments towards local licences such as our new Danish licence is rapidly transforming Unibet into a leading regulated market player.”