Financial Statistics

Key Figures, Quarterly

Income Statements, Quarterly

Balance Sheets, Quarterly

Key Figures, Yearly

Income Statements, Yearly

Balance Sheets, Yearly

Cash-Flow Statements, Yearly

Calculation Method

Definitions

Key Figures, Quarterly

SEK million Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017
Key financial ratios              
Gross Margin (% of revenue) 74.2 75.9 74.3 73.2 72.3 72.8 71.9
EBITDA-margin (% of revenue) 22.2 30.9 29.2 27.4 23.3 24.2 23.0
EBIT-margin (% of revenue) 16.9 25.7 23.7 21.9 17.6 18.3 17.4
Profit margin (% of revenue) 16.7 25.5 23.2 20.9 16.7 17.5 16.7
Marketing expenses (% of revenue) 23.4 18.8 18.4 19.2 20.9 20.5 21.4
Basic earnings per share (SEK) 1.06 1.84 1.76 1.55 1.34 1.35 1.44
Diluted earnings per share (SEK) 1.06 1.84 1.76 1.55 1.34 1.35 1.44
Equity per share (SEK) 21.88 24.15 25.31 27.07 23.85 24.49 26.49
Executed dividend/redemption per share (SEK) 4.51 - - - 4.76 - -
Equity/assets ratio (%) 53 56 56 54 51 52 54
Return on equity (%) 5 7 7 6 6 5 5
Return on total capital (%) 3 5 4 4 3 3 3
Return on capital employed (%) 4 6 4 5 5 4 4
Net debt (SEK m) 973.6 779.7 954.7 1,061.0 1,553.0 1,404.0 1,208.0
Shares             -
Average share price (SEK) 94.88 79.61 88.47 80.50 77.29 74.38 64.46
Share price at end of period (SEK) 70.10 94.80 87.90 78.00 73.00 74.25 60.50
Highest share price (SEK) 128.30 96.20 96.05 91.95 82.40 80.50 76.00
Lowest share price (SEK) 63.35 63.05 79.25 73.10 72.85 68.30 57.70
Number of shareholders at end of period 41,492 42,237 41,056 43,474 42,847 41,312 40,009
Average number of shares outstanding at end of period (million) 138.4 138.4 138.4 138.4 138.4 138.4 138.4
Number of shares outstanding at end of period (million) 138.4 138.4 138.4 138.4 138.4 138.4 138.4
Number of shares at end of period (million) 143.1 143.1 144.5 144.5 144.5 144.5 144.5
  - - - - - - -
Personnel - - - - - - -
Average number of employees (accumulated) 1,624 1,595 1,661 1,848 1,878 1,889 1,867
Number of employees at end of period 1,766 1,680 1,821 1,902 1,887 1,888 1,873

 

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Income Statements, Quarterly

SEK million Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017
Revenue 935.4 1,063.3 1,118.5 1,102.0 1,177.5 1,180.6 1,256.4
Cost of services provided -240.9 -256.2 -288.0 -295.7 -326.4 -321.6 -353.5
Gross profit 694.6 807.0 830.6 806.3 851.1 859.0 903.0
Marketing expenses -219.2 -200.1 -206.3 -211.4 -246.5 -242.5 -269.2
Personnel expenses -160.6 -171.2 -175.9 -179.1 -203.2 -195.8 -208.4
Other external expenses -156.7 -167.2 -166.4 -166.7 -182.0 -186.2 -184.6
Capitalised development costs 50.8 59.5 55.6 54.0 56.8 51.4 51.9
Amortisation and depreciation -49.3 -56.0 -61.8 -60.6 -67.5 -69.1 -70.4
Other operating income/expenses -1.3 0.9 -10.6 -1.3 -2.2 -1.0 -3.9
Operating expenses -536.3 -534.2 -565.5 -565.4 -644.2 -643.0 -684.6
Operating income 158.3 272.9 265.1 240.9 206.9 216.0 218.4
Financial items, net -1.9 -1.8 -5.5 -10.6 -10.3 -9.7 -8.7
Income before tax 156.4 271.1 259.6 230.4 196.6 206.3 209.6
Tax -10.1 -17.0 -16.0 -16.0 -10.5 -19.3 -10.8
Net income 146.4 254.1 243.6 214.4 186.1 187.0 198.9

 

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Balance Sheets, Quarterly

SEK million Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017
Non-current assets 4,256.2 4,372.1 4,760.8 5,062.8 5,188.0 5,084.9 5,096.6
Current assets 1,457.1 1,576.3 1,501.7 1,828.8 1,324.9 1,463.9 1,721.3
Total assets 5,713.2 5,948.4 6,262.5 6,891.7 6,512.9 6,548.9 6,817.9
Equity 3,028.1 3,343.3 3,502.9 3,746.8 3,301.7 3,389.3 3,666.9
Provisions and non-current liabilities 701.0 721.2 1,346.7 1,614.2 1,023.0 1,016.3 1,036.1
Current liabilities 1,984.2 1,883.9 1,412.9 1,530.6 2,188.3 2,143.2 2,114.9
Total equity and liabilities 5,713.2 5,948.4 6,262.5 6,891.7 6,512.9 6,548.9 6,817.9
Consolidated cash flow statement              
Operating cash flow 211.9 294.4 332.2 204.9 242.4 220.4 278.9
Cash flow from investing activities -78.1 -82.2 -426.1 -8.8 -368.8 -70.9 -75.6
Cash flow from financing activities -182.3 -115.2 20.4 235.9 -276.1 -183.2 -166.3
Total cash flow -48.6 97.1 -73.5 432.1 -402.5 -33.7 37.1

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Key Figures, Yearly

SEK million 2012 2013 2014 2015 2016 2017
Gross Margin (% of revenue) 70.3 71.6 73.5 71.9 74.8 72.5
EBITDA-margin (% of revenue) 30.9 28.6 31.3 28.1 28.1 24.4
EBIT-margin (% of revenue) 26.2 24.3 27.1 23.8 23.0 17.9
Profit margin (% of revenue) 26.0 24.1 26.8 23.7 22.7 17.9
Marketing expenses (% of revenue) 14.6 17.5 18.1 20.2 20.0 20.6
Basic earnings per share (SEK) 4.35 4.33 5.64 6.02 6.34 5.68
Diluted earnings per share (SEK) 4.33 4.33 5.63 6.02 6.34 5.68
Equity per share (SEK) 12.44 15.60 22.27 22.78 25.31 26.49
Executed dividend/redemption per share (SEK) 3.15 3.05 3.98 4.51 4.76 4.76
Equity/assets ratio (%) 53 58 61 55 56 54
Return on equity (%) 38 31 30 27 26 22
Return on total capital (%) 22 19 19 17 16 14
Return on capital employed (%) 24 21 22 19 19 17
Net debt (SEK m) 49.7 -67.9 330.7 633.2 954.7 1,208.0
Shares            
Average share price (SEK) 63.20 63.86 77.15 127.59 93.80 73.60
Share price at end of period (SEK) 66.83 68.00 91.67 155.50 87.90 60.50
Highest share price (SEK) 74.83 74.83 94.33 160.00 153.00 91.95
Lowest share price (SEK) 50.67 53.17 59.33 91.33 63.05 57.70
Number of shareholders at end of period 17,225 18,825 21,443 35,156 41,056 40,009
Average number of shares outstanding at end of period (million) 126.0 129.9 136.7 138.2 138.4 138.4
Number of shares outstanding at end of period (million) 126.8 130.3 138.0 138.4 138.4 138.4
Number of shares at end of period (million) 126.8 130.3 139.6 143.1 144.5 144.5
             
Personnel            
Average number of employees (accumulated) 591 789 850 1,584 1,661 1,870
Number of employees at end of period 748 839 870 1,639 1,821 1,873

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Income Statements, Yearly

SEK million 2011 2012 2013 2014 2015 2016 2017
Revenue 1,736.6 2,203.7 2,476.7 3,035.1 3,722.0 4,117.3 4,716.5
Cost of services provided -590.5 -654.4 -704.2 -803.7 -1,046.4 -1,039.3 -1,297.1
Gross profit 1,146.1 1,549.3 1,772.5 2,231.3 2,675.6 3,078.0 3,419.4
Marketing expenses -132.0 -322.4 -433.1 -548.2 -752.9 -822.3 -969.6
Personnel expenses -197.0 -290.9 -373.2 -448.1 -543.5 -657.9 -786.4
Other external expenses -232.7 -329.3 -352.4 -440.0 -475.2 -638.4 -719.4
Capitalised development costs 41.4 81.0 92.9 123.1 146.9 211.8 214.1
Amortisation and depreciation -73.8 -105.0 -107.1 -128.0 -160.7 -211.9 -267.6
Other operating income/expenses 7.8 -5.6 1.5 31.1 -3.8 -12.9 -8.3
Operating expenses -586.4 -972.2 -1,171.4 -1,410.1 -1,789.2 -2,131.6 -2,537.2
               
Operating income 559.7 577.1 601.1 821.2 886.4 946.4 882.2
Financial income and expenses -4.3 -3.5 -4.9 -6.4 -3.4 -10.4 -39.3
Income before tax 555.4 573.6 596.2 814.8 883.0 936.0 842.9
Tax -27.6 -25.8 -34.2 -44.1 -51.2 -58.0 -56.5
Net income 527.8 547.8 562.0 770.7 831.7 878.0 786.5

 

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Balance Sheets, Yearly

SEK million 2011 2012 2013 2014 2015 2016 2017
Intangible fixed assets 982.4 1664.6 2037.9 3402.2 3980.3 4627.5 4943.4
Property, plant and equipment 26.9 28.5 53.8 50.9 57.0 85.9 97.7
Financial assets 10.2 25.2 26.6 23.3 16.9 12.6 9.2
Deferred tax receivables 14.4 18.4 11.7 31.1 21.2 34.9 43.8
Other longterm receivables             2.6
Total non-current assets 1033.8 1736.8 2129.9 3507.5 4075.5 4760.8 5096.6
Current receivables 729.6 752.7 823.5 1027.0 1126.9 1057.4 1241.9
Cash and cash equivalents 509.7 467.2 562.5 478.1 524.9 444.3 479.5
Total current assets 1239.3 1219.9 1386.0 1505.1 1651.8 1501.7 1721.3
Total assets 2273.1 2956.6 3515.9 5012.6 5727.4 6262.5 6817.9
Equity 1334.3 1577.8 2032.2 3073.8 3153.7 3502.9 3666.9
Provision gaming tax 0.0 0.0 0.0 0.0 109.9 20.1 12.9
Deferred tax liabilities 8.0 9.3 4.1 5.4 5.9 1.0 29.3
Total Provisions 8.0 9.3 4.1 5.4 115.8 21.0 42.2
Bond 0.0 0.0 0.0 0.0 0.0 990.8 993.9
Non-current liabilities to credit institutions 0.0 344.5 0.0 523.4 505.2 334.8 0.0
Total non-current liabilities 0.0 344.5 0.0 523.4 505.2 1325.6 993.9
Current liabilities to credit institutions 0.0 0.0 315.7 0.0 228.4 0.0 663.9
Other current liabilities 930.7 1025.0 1163.8 1410.1 1724.3 1413.0 1451.0
Total current liabilities 930.7 1025.0 1479.5 1410.1 1952.7 1413.0 2114.9
Total equity and liabilities 2273.1 2956.6 3515.9 5012.6 5727.4 6262.5 6817.9

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Cash-Flow Statements, Yearly

SEK million2011201220132014201520162017
Income after financial items555.4573.6596.2814.8883.0936.0842.9
Adjustments for non-cash items63.1110.4111.897.8280.5217.8274.5
Taxes paid-10.92.7-4.3-45.4-27.7-101.9-58.5
Cash flow from operating activities       
before changes in working capital607.6686.6703.7867.11135.81051.81058.9
Changes in working capital-70.4-20.6-20.21.118.7116.6-112.2
Cash flow from operating activities537.2666.1683.5868.31154.51168.5946.7
Investments in intangible- and tangible fixed assets-50.9-101.0-138.5-156.3-200.4-316.7-282.9
Sale of property, plant and equipment0.00.00.00.00.02.80.0
Acquisition of cash and cash equivalents17.20.00.036.022.935.081.9
Acquisition of shares and participations-214.8-533.4-15.8-376.3-443.0-370.0-323.0
Cash flow from investing activities-248.6-634.4-154.3-496.6-620.5-648.9-524.0
Cash paid upon redemption of warrants-0.6-10.4-9.2-17.4-21.0-0.7-0.3
Paid gaming tax provision0.0 0.00.00.0-90.2-7.2
Bond issue     993.00.0
Settled purchase consideration0.00.00.0-207.1-137.1-430.7-54.7
Raised bank loans0.0431.80.0378.0436.70.0333.6
Repayment of bank loans0.0-74.1-39.6-211.2-200.1-464.8 
Guarantees      -2.6
Share redemption programme /dividend-275.8-417.4-410.9-421.5-549.7-624.3-658.9
Warrant premiums received2.70.00.00.02.00.70.3
Other financing activities-0.10.012.20.00.00.0 
Cash flow from financing activities-273.8-70.1-447.5-479.2-469.2-616.9-389.7
Changes to cash and cash equivalents14.9-38.381.7-107.664.8-97.432.9
Cash and cash equivalents at beginning of period497.1509.7467.2562.5478.1524.9444.3
Exchange differences-2.3-4.113.623.2-18.016.82.3
Cash and cash equivalents at end of period509.7467.2562.5478.1524.9444.3479.5

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Calculation Method

Accounting and valuation principles

The basis of presentation
The consolidated financial statements have been drawn up in accordance with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) and the interpretation statement of the International Financial Reporting Interpretations Committee (IFRIC), which has been approved by the EU commission for application within the EU. In addition, Recommendation RFR 1.1, Complementary accounting rules for groups of the Swedish Financial Accounting Standards Council, has also been applied prematurely.

The parent company applies the same policies as the group, except that the financial statements of the parent company have been prepared in accordance with recommendation RR 2.1:05 Reporting for legal entities of the Swedish Financial Accounting Standards Council.

Changed accounting policies
The accounting policies remain unchanged from previous periods with the below exceptions. Gaming transactions where the company takes open positions against players are recognized in accordance with IAS 39 Financial instruments, as outstanding bets may be regarded as derivatives. For Betsson this means Betsson Sport and Betsson Trader revenues are deducted for certain operating expenses and opening what is recognized as derivatives in the balance sheet. Previously this revenue was recognized in accordance with IAS 18 Revenue. The change was the result of a statement from IFRIC (July 2007) on the recognition of gaming transactions. Betsson has decided to apply IFRIC's pronouncement about customer loyalty programs (IFRIC 13, July 2007) prematurely. As a result, revenue allocated for customer bonus points is not charged to income until the customer exercises the points. In previous reports, Betsson recognized the full revenue and charged the bonus part to income. As a result of these changes to accounting policies the way the group reports revenue and expenses has been changed in that certain expenses are now deducted from revenue instead of being recognized gross. Consolidated income is not affected by these changes in policies. Previous reporting periods have been translated in accordance with the new policies. Calculated according to previous accounting policies revenue amounted to SEK 685 million (320 million).

When preparing the consolidated financial statements as at 31 December 2007, the following standards and interpretations entered into force or were changed compared with previous years:

  • IAS 7 Financial instruments - Information which involves increased disclosure requirements so that users of the financial statements should be able to evaluate the significance of the company's financial instruments and the nature and extent of the risks associated with them.
  • Amendment to IAS 1 Design of financial reports, as a result of which the company must submit information which enable users of the financial statements to assess the company's objectives, principles and methods for the management of capital.
  • IFRIC 7 Applying the restatement approach according to IAS 29
  • IFRIC 8 The scope of IFRS 2
  • IFRIC 9 Revaluation of embedded derivatives
  • IFRIC 10 Interim financial reporting and impairment

Where these standards have applied to Betsson, they have only affected supplementary disclosures in Betsson. The following standards and pronouncements will be applied to the 2008 calendar year or later:

  • Redesigned IAS 1 - Design of financial reports
  • IFRS 8 Operating segments
  • Redesigned IAS 23 Borrowing costs
  • IFRIC 11 Group and Treasury Share Transactions
  • IFRIC 12 Service Concession Arrangements
  • IFRIC 13 Customer Loyalty Programs
  • IFRIC 14 IAS 19 The limit on a Defined Benefit Asset

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Definitions

  • Revenues. Revenues from gaming business after payment/payout of players' winnings, the loyalty program and bonuses as well as other operating revenue.
  • Gaming taxes and license charges for game suppliers are also deducted from revenues for games recognized as financial instruments.
  • Average total capital. The balance sheet total at the beginning of the financial year plus the balance sheet total at the end of the financial year divided by two.
  • Average capital employed. The balance sheet total less non-interest bearing liabilities including deferred tax liabilities at the end and the beginning of the financial year divided by two.
  • Average equity. Equity at the beginning and end of the financial year added and divided by two.
  • Return on total capital. Income after financial items with the addition of financial expenses relative to average total capital.
  • Return on capital employed. Income after financial items with the addition of financial expenses relative to average capital employed.
  • Return on equity. Income after tax relative to average equity.
  • Profit margin. Income after financial items relative to revenue for the period.
  • Operating margin. Operating income relative to revenue for the period.
  • Equity/assets ratio. Equity at the end of the period as a percentage of the balance sheet total at the end of the period.
  • Cash liquidity. Current assets relative to current liabilities including proposed but not adopted dividends.
  • Interest coverage ratio (multiple). Income after financial items plus interest expenses relative to interest expenses.
  • Number of employees. Number of employees when salaries were paid last.
  • Average number of employees. The number of employees converted to fulltime employment (man-years).
  • Number of shares. Number of shares at the end of each period.
  • Number of outstanding shares. Number of outstanding shares (excluding repurchased stock) at the end of each period.
  • Average number of outstanding shares. Weighted average number of shares outstanding during the period.
  • Earnings per share. Income after tax relative to the average number of outstanding shares during the period.
  • Earnings per share after dilution. Income after tax adjusted for interest expenses after tax attributable to outstanding convertible bonds divided by the weighted average number of outstanding shares during the year adjusted for additional shares upon conversion and options with dilution effects.
  • Cash flow per share. Cash flow relative to the average number of outstanding shares during the period.
  • Equity per share. Equity relative to the number of outstanding shares at the end of the period.
  • Dividend per share. Actual/proposed dividend. Also includes the redemption program.
  • Share price. Price paid in latest share transaction.
  • Number of (registered) shareholders. Number of shareholders registered in trust or in the register of shareholders kept by VPC AB (the Swedish Securities Register Center) according to the shareholder/share register kept by VPC AB.

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Please note that the complete series of quarterly and yearly data are only available in Excel format.

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Stock Price

BETSSON AB

60.96 SEK

Last updated: 2018-05-25 17:29

20 minute delayed data provided by eSignal.
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