nibet revealed that its interim financial results for the first quarter of 2013 also show that it boosted its earnings before interest, tax, depreciation and amortisation by 11.7 % year-on-year to us$ 26.5 million while its operational profit rose some 7.7 % when compared with the same period in 2012 to reach us$ 19.4 million.
Continuing the good news, Unibet stated that its first-quarter operational cashflow before movements in working capital grew by 11.7 % year-on-year to us$ 26.5 million while it had 86,135 more active customers when compared with the same three-month period last year at 489,923. However, Unibet declared that its profit before tax dropped by 2.5 % year-on-year to us$ 17.6 million while this figure after tax was 1.85 % lower than for the corresponding period in 2012 at us$ 16.4 million.
“Strong underlying growth has delivered all-time highs in gross winnings revenues and earnings before interest, tax, depreciation and amortisation despite lower than average sportsbetting margins,” said Henrik Tjarnstrom, CEO for Unibet.
“We have also noted a continued strong development of the business in recently re-regulated markets such as Denmark and Belgium where we have invested further in marketing. Our mobile offering continues to grow and is now over 16 percent of gross winnings revenues.
“More than 26 % of Unibet’s gross winnings revenues for the first quarter came from locally regulated markets. All re-regulated markets delivered improved results compared to the fourth quarter of 2012 and the locally regulated markets combined made significant positive earnings before interest, tax, depreciation and amortisation contribution.
“Positive factors driving this performance include good customer intake and retention leading to record high gross turnover. Our strong cashflow has enabled us to repay the full loan balance during the quarter. In the first four weeks of the second quarter, average daily gross winnings revenues were around 15 % higher than for the second quarter of 2012,” concluded Unibet CEO.