Unibet cites record Q2 as revenue climbs in first half

Unibet has said that record levels of revenue in the second quarter of the year contributed to a year-on-year increase in finances during the first half.

Gross winning revenue in the first half of the year amounted to £249 million (€297.4 million/$326.9 million), up from £156.6 million last year.

Underlying earnings before interest, tax, depreciation and amortisation jumped from £34.1 million in the first half of last year to £50.5 million in the most recent six-month period.

Elsewhere, profit before tax climbed from £26.5 million to £37.9 million, while profit after tax was also up from £23.4 million to £33.5 million.

Henrik Tjärnström, chief executive of Unibet, said: “The second quarter was characterised by Euro 2016, which provided a new all-time high in customer activity and continued strong growth.

“Margins in the tournament were significantly higher in July than in June. If the margins had been consistent across the tournament, then gross winnings revenue for the second quarter would have been around £3 million higher.

“Gross winnings revenues from the mobile channel more than doubled in GBP and accounted for 63% of the total gross winnings revenue in the second quarter.

“In the period from July 1-24 July, average daily gross winnings revenue in GBP has more than doubled compared to the same period in 2015.

“Adjusting for the unusually high margin on the final stages of the Euros, the impact of exchange rate changes and acquisitions, the organic constant currency growth is close to 50%.”

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