Mr Green Group reports strong 51% revenue rise, to SEK 445.2m, for Q3 2018.
Stockholm-listed Mr Green Group (MRG) has reported an impressive 51% year-on-year rise in revenue for Q3.
KEY RESULTS, Q3 2018:
- 51% year-on-year revenue growth to SEK 445.2m
- Operating profit (EBITDA) increase of 49% to SEK 75.5m
- EBITDA margin was 17%
- Cash flow from operating activities SEK 107.2m
- Customer deposits increased by 72.3% to SEK 1,477.7m
KEY RESULTS FOR YEAR TO SEPTEMBER:
- 44% year-on-year revenue growth to SEK 1,239m
- Operating profit (EBITA) increase of 21.6% to SEK 166.8m
- EBITDA margin was 13.5%
Its been a busy quarter for MRG with Mr Green receiving a Danish sportsbook license, RedBet gaining an Irish sportsbook license and license applications made for the soon-to-launch re-regulated Swedish market.
The integration of Evoke Gaming was also completed, with synergies expected to make an impact from Q4, Niklas Grawé from hallon was appointed the new CEO of the esports venture, and the operator business received ISO certification.
Per Norman, CEO of MRG commented:
“MRG is experiencing strong growth momentum. We have highly skilled employees and solid management teams that are driving the development of new products and are continuously improving the user experience. This, combined with our strong brands, effective marketing and cost focus, generates our growth and improved profitability.”