Interim report for 2nd Quarter 2023 (1 Apr – 30 Jun 2023): Revenue increased 37% and EBIT increased 208%

Financial report for the period 1 st of April to 30 th of June 2023

Key Facts for the 2 nd Quarter 2023 (1 st April 2023 – 30th June 2023)

Revenues increased 37% and EBIT increased 208%

All figures are compared to the same quarter last year if not explicitly stated otherwise

• Revenues increased by 36.54% to €9,458,630 (€6,927,414).
• EBIT increased by 207.95% to €676,489 (-€626,662).
• EBIT margin of 7.15% (-9.05%).
• Customer deposits increased by 16.35% to €17,688,865 (€15,202,758).
• 30,990 new registered customers (91,142), decrease of 66%.
• 9,646 new depositing customers (14,344), decrease of 32.75%.
• Net Profit of €227,366 (-€1,191,423).
• Earnings per share of €0.0030 (-€0.0159).
  
  
• Premiergaming Ltd, the Group’s subsidiary focusing on Northern Europe, represented 5% of the Group’s revenues in Q2 2023.
  
  

Trading update Q3 2023

The trading update is an indication of how the third quarter 2023 has started, however it is not a revenue forecast for the quarter.

The average daily net gaming revenue in the third quarter 2023 up until and including 14th of August was 30% higher than the average daily net gaming revenue of the full third quarter 2022. The average daily new depositing customers in the third quarter 2023 up until and including 14th of August was 15% higher than the average daily new depositing customers of the full third quarter 2022.

The average daily net gaming revenue in the third quarter 2023 up until and including 14th of August was 15% higher than the average daily net gaming revenue of the full second quarter 2023. The averaged daily new depositing customers in the third quarter 2023 up until and including 14th of August was 60% higher than the average daily new depositing customers of the full second quarter 2023.

Events during Q2 2023

• The available cashflow from operations has improved in the second quarter by 101.92% from €803.633 at the end of Q1 2023 to €1,622.723 at the end of Q2 2023.
  
• The short-term unsecured borrowing of €1,000,000 obtained last year is now expected to be repaid during H2 2023 and H1 2024.
  
• The Group’s fully owned proprietary I-Gaming platform is an important asset. During Q2 2023 the Group continued to invest its existing resources into state-of-the-art functions and features, resulting in a continued competitive, cost effective and user-focused I-Gaming platform with a high end-user entertainment value. All the brands operated on a B2B basis were fully operational during the second quarter on the latest version of the technical platform. The move of the existing brands to the latest version of the platform has been prioritized during the quarter and the three new B2Bcasino projects announced earlier are now expected to go live later in 2023.
  
• The Group continue to invest in two of the Group’s relatively new business areas, namely the Sportsbook offer and the Joint Venture within the field of affiliate marketing in South America. Both these projects continue to grow their revenues although still representing a small part of the Group’s revenues.
  
• The Annual and Sustainability report together with the Audited Financial Statements for 2022 were published on the 28th of April 2023.
  
• The Shareholders meeting approved to put in place a new Share Option Scheme to incentivise key personnel in the Company and its subsidiaries. For this purpose, up to 2,880,000 ordinary shares of nominal value €0.01 each may be issued (being, in aggregate, the equivalent of 3.7% of the resulting total issued share capital of the Company) having 1 vote per share and all other rights pari passu with all already issued ordinary shares in the Company.

Events after the quarter

• The Board of Directors have decided that Premiergaming Ltd, one of the Group’s subsidiaries, will apply for a renewal of its Swedish online casino license and at the same time will apply for a Betting license.
  

Key Facts for half-yearly 2023 (1 st January 2023 – 30 th June 2023)

All figures are compared to half-yearly 2022 if not explicitly stated otherwise.

Revenues increased by 27.82% to 18,886,861 (€14,776,411).

EBIT increased to €2,178,415 (-€209,423).

EBIT margin of 11.53% (-1.42%).

Customer deposits increased by 8.78% to €35,288,218 (€32,439,683).

49.13% decrease in new registered customers to 84,393 (165,893).

21,153 new depositing customers (27,529), decrease of 23.16%.

Net Profit of €1,363,439 (-€1,176,380).

Earnings per share of €0.0182 (-€0.0157).