$33M in revenue

STS Group reports revenue up by 25% in Q3 driven by stacked sporting events schedule

2022-11-25
Reading time 1:42 min

Polish bookmaker STS Group has reported revenue of PLN 150 million ($33 million) for the third quarter of the year, up by 25% from PLN 119 million in 2021. Moreover, the business has delivered a net profit of PLN 49 million ($10.8 million), 65% above the PLN 30 million posted in Q3 2021.

The group also saw an increase in Adjusted EBITDA, which hiked 39% YoY to PLN 73 million ($16.1 million). And net profit of the main operating company in the group – STS S.A. – amounted to PLN 48 million ($10.6 million) from July to September, up 42% YoY from the same period in 2021.

During the quarter, the group observed high activity among its players, which was primarily related to "a very intense" calendar of sporting events. In addition, Polish volleyball and basketball players and Iga Świątek proved their good form during international tournaments. 

As a result, players had a number of opportunities to place bets, noted STS, which also called the ongoing World Cup in Qatar “a perfect event” for increased acquisition of new players. Additionally, the participation of 32 teams and several dozen matches played means that the activity of bettors “will certainly be high,” said Mateusz Juroszek, President of the Management Board of STS Holding.

Cumulatively, at the end of September 2022, the company recorded consolidated revenue of PLN 413 million ($91.4 million), which means an increase of 8% compared to the same nine-month period last year. And on a quarterly basis, in Q3 2022 the group generated its historically highest NGR, amounting to PLN 167 million ($37 million).

In the Q1-Q3 period, the number of active users amounted to 576 thousand. From January to September this year, the group recorded 237,000 new registrations, with 163,000 customers who made their first deposit.

By the end of October, STS Holding paid an advance on dividends for 2022. The shareholders received the amount of nearly PLN 42.3 million ($9.4 million). And in August, STS Holding paid its shareholders a dividend from the profit for 2021 in the amount of PLN 0.37 per share, a total of approximately PLN 57.9 million ($12.8 million), meaning that in 2022, shareholders received a total of approx. PLN 100 million ($22.1 million).

In a statement, the group highlighted it has been continuously implementing a "mobile-first" strategy based on its proprietary bookmaker system. “It is constantly developing its own technology platform to meet customer needs and set market trends,” STS said, with investments in the product portfolio and technological solutions in 2021 amounting to PLN 29 million ($6.4 million).

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