Successful launches of LeoVegas Sport and LeoVegas Live Casino, substantial growth in new customers and a strong start to Q3
Second quarter: 1 April - 30 June 2016 [1]
- Revenue grew 67% to EUR 31.0 m (18.5). Growth was entirely organic.
- Mobile deposits accounted for 65% (55%) of the total.
- Customer deposits increased by 79% to EUR 100.6 m (56.3) an increase of 25% compared to the first quarter.
- The number of depositing customers was 176,635 (71,632), an increase of 147%.
- The number of new depositing customers was 109,718 (32,733), an increase of 235%.
- LeoVegas Sport and LeoVegas Live Casino were launched according to plan. In connection with this, marketing investments in relation to revenue increased to 60.4% compared with 42.3% for the first quarter.
- EBITDA amounted to EUR -2.5 m (-0.5), corresponding to an EBITDA margin of -7.9% (-2.6%).
- Operating profit (EBIT) was EUR -2.8 m (-0.6).
- Earnings per share were EUR -0.03 (-0.01).
Interim period: 1 January - 30 June 2016
- Revenue grew 76% to EUR 60.5 m (34.4). Growth was entirely organic.
- Operating profit (EBIT) was EUR -4.3 m (-0.6). Adjusted for items affecting comparability, operating profit was EUR 0.9 m (-0.6), corresponding to an adjusted EBIT margin of 1.5%.
- Earnings per share were EUR -0.04 (-0.01).
Comment from Gustaf Hagman - Group CEO and co-founder
LeoVegas' strategy is to prioritise growth. In accordance with what was communicated in the report for the first quarter, we took the opportunity to implement a strong launch of LeoVegas Sport and LeoVegas Live Casino ahead of the biggest sports event of the year, the UEFA European Championship.
Deposits in the second quarter passed the milestone of EUR 100 m, an increase of 25 percent compared with the previous quarter.
The quarter was eventful, with long-term marketing investments and successful launches of LeoVegas Sport and LeoVegas Live Casino, leading to substantial growth in new customers and a strong start to Q3. I can state that the long-term marketing investments in the second quarter were successful, with a record start to the third quarter and revenue of EUR 12.8 m in July, which is a growth rate of 68%.
LeoVegas develops well in line with our long-term financial targets and our vision: to create the ultimate gaming experience and be number one in mobile gaming.
Presentation of the report - today at 09:00 CET
To participate in the conference call, and thereby be able to ask questions, please call one of the following numbers: SE: +46 (0) 8 5065 3937, UK: +44 (0) 20 3427 1913, US: +1646 254 3361 Confirmation code: 4876634 or join at the web http://edge.media-server.com/m/p/aypetjng
This information is information that LeoVegas AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 10 th of August 2016.
For further information, please contact:
Gustaf Hagman, Group CEO co-founder: +46 70-880 55 22, gustaf.hagman@leovegas.com Viktor Fritzén, Group CFO: +46 73-612 26 67, viktor.fritzen@leovegas.com Visitors address: Sveavägen 59, Stockholm Corporate identity number: 556830-4033
About the LeoVegas mobile gaming group LeoVegas' vision is to create the ultimate mobile gaming experience and be number one in mobile casino. The business is distinguished by award-winning innovation and strong growth. LeoVegas' technical development is conducted in Sweden, while operations are based in Malta. The Swedish parent company LeoVegas AB (publ) invests in companies that offer gaming via mobile devices and desktop computers along with companies that develop related technologies. LeoVegas has attracted major international acclaim and has won numerous awards, including "Nordic Operator of the year", "Mobile Marketing Campaign of the year", and "Innovation in Mobile and Tablet of the Year" at the international EGR Awards. LeoVegas bases its development on "Mobile First" and is at the forefront of using state-of-the-art technology in the mobile gaming market. With a foundation in a great gaming experience, long-term customer relationships and establishment of a strong brand, the company has attracted a steadily growing customer base through innovative, effective and data-driven marketing. Since its start, the mobile gaming company LeoVegas has shown strong quarter-on-quarter growth. LeoVegas' shares are listed on Nasdaq First North Premier. Avanza Bank AB is the company's Certified Adviser. For more about LeoVegas, visit www.leovegas.com and www.leovegasgroup.com .
[1] Numbers in brackets throughout the report refer to the same period a year earlier unless otherwise stated.
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