Mr Green full-year revenues leap 20%
Operator's 2015 revenues increase to ?65m although EBITDA remained relatively flat
Mr Green & Co AB this morning reported a 20% increase in full-year revenues after growth in non-Nordics markets and a rise in mobile helped the online casino post total game win of SEK792.6m (?65.5m).
However, due to heavy gaming taxes, Mr Green’s EBITDA for the 12 months ended 31 December 2015 remained relative flat, increasing just 1.4% to SEK136.8m (?11.3m), a result which prompted the firm to recommend no dividends be paid for 2015.
The firm’s Q4 figures largely reflected its full-year, with revenues up 15% year-on-year to SEK 201.1m (?16.6m), which generated EBITDA on a like-for-like basis of SEK29m (?2.4m).
The full-year results saw the Nordics eclipsed as Mr Green’s biggest market. Revenues derived from Nordics countries increased 5% to SEK364.7m (?30m) while revenues from the Rest of Europe jumped 32% to SEK407.4m (?34m).
“Growth was particularly strong outside the Nordic region and Other Europe now constitutes our largest market,” Per Norman, Mr Green AB chief executive, said.
“The online gaming market in Europe is estimated to have grown by 9% during 2015. Our long-term goal is to continue to grow at a rate faster than the market,” he added.
Almost 29% of full-year revenues were derived from mobile devices, up from 21% in 2014.
Norman also announced Mr Green would be launching a sportsbook “at some point” in 2016 and revealed former Svenska Spel chief executive Jesper K?rrbrink would replace incumbent Bo W?nghammar as CEO of its Malta-based operations.
As a side effect of the sportsbook rollout, Norman said he expected marketing spend to rise in 2016, despite a long-term plan to cut marketing budgets as campaigns become “much more digital and much more efficient”.
Mr Green’s share price was down approximately 7% to SEK37.30 at the time of writing.