LeoVegas group («LeoVegas«) EBITDA for the second quarter of 2018 amounted preliminary to approximately eur 15 MILLION (approximately 17% EBITDA margin), which is higher than the company’s internal expectations. The reason that communicate the preliminary results in early is to LeoVegas marketing costs in relation to revenues preliminary amounts to approximately 35 per cent. This is significantly lower than the assessment which the company announced in the interim report for the first quarter, where the expectation was that the marketing costs in relation to revenue would amount to over 42 percent in the second quarter. Revenue for the second quarter amounted preliminary to approximately sek 87 MILLION.
«Our data-driven marknadsföringsmodell works so that we invest only if we see enough high yields in our market channels. During the world CUP increased, many gaming companies with Sports betting as the main focus significantly on their budgets, which is why efficiency and customer value in the long term was uncertain. Here, our models indicated that we should not advertise in certain channels, and then we simply abstained, which, in turn, resulted in a significantly higher EBITDA results than expected. We act in line with achieving our financial targets are to reach at least eur 600 MILLION in revenue and 100 MILLION in earnings in the year 2020», says Gustaf Hagman, CEO, LeoVegas Mobile Gaming Group.
In LeoVegas quarterly report for the first quarter was communicated that:
«Marketing in relation to revenue for the group in the second quarter of 2018 will be higher than the average for the 2017, which was 42.3%. On the basis of market opportunities around the fifa world CUP, is the total amount of marketing more difficult than usual to predict in advance. LeoVegas will act opportunistically with marketing efforts on the opportunities that we see.»
Preliminary figures for the second quarter of 2018
Work with the interim report for the second quarter is ongoing and the numbers presented below are only preliminary. Marketing costs are expected to amount to approximately eur 30 MILLION and LeoVegas revenue is expected to amount to approximately eur 87 MILLION. Marketing costs in relation to the Company’s revenue is expected to amount to approximately 35 per cent. This may further impact on the Company’s EBITDA which is expected to amount to approximately eur 15 MILLION, with an EBITDA margin of approximately 17%.
LeoVegas quarterly report for the second quarter of 2018 will be published on the 1st of August. The company will, in addition to what is stated herein, do not further comment on the results before the quarterly report for the second quarter will be published. In connection with the presentation the same day at 9:00 CET there will be the opportunity to ask questions. The webcast can be reached at the following address: https://edge.media-server.com/m6/p/zupwii5n
This information is such information that LeoVegas AB (publ) is obliged to publish under the EU marknadsmissbruksförordning 596/2014. The information was submitted, by nedanståendes contact person in the government, for publication on 18 July 2018 there is a 08:00 CET.
For further information, please contact:
Gustaf Hagman, Group CEO: +46 (0) 8 410 367 66, firstname.lastname@example.org
Viktor Fritzén, Group CFO: +46 73 612 22 67, email@example.com
Philip Doftvik, Head of Investor Relations and Corporate Finance: +46 73 512 07 20, firstname.lastname@example.org
If the LeoVegas mobile gaming group
LeoVegas passion is «Leading the way into the mobile future».
LeoVegas is Sweden’s foremost GameTech companies and is in the forefront with the latest technology for mobile games. 2017 passed the company boundary to count as a unicorn — that is to say, a startup valued at over a billion USD. A large part of the success is an extreme product and technology as well as the effective and data-driven marketing. Technology development takes place in Sweden, while the operational business is based in Malta. LeoVegas offers games in Casino, Live casino and Sportsbook, as well as operating two global and scalable brands — LeoVegas Royal Panda, and a local multibrand operator, with the name Rocket X. the Company’s share is listed on Nasdaq Stockholm. More about LeoVegas on
Preliminary results for the second quarter of 2018, higher than expected
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Source: LeoVegas AB via Globenewswire