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

  2017Q2 2017Q1 2016Q4 2016Q3 2016Q2 2016Q1 2015Q4
Quarterly Top-line growth (percent) 6.9 -1.5 5 14 -6 -4 7
Top-line growth compared to same quarter last year (percent) 25.9 10.2 7 9 9 18 28
Gross Margin (percent of Revenues) 72.3 73.2 74.3 75.9 74.2 74.6 64.5
EBITDA-margin (percent of Revenues) 23.3 27.4 29.2 30.9 22.2 29.5 21.0
EBITDA-margin (percent of Gross Profit) 32.2 37.4 39.4 40.8 29.9 39.5 32.6
EBIT-margin (percent of Revenues) 17.6 21.9 23.7 25.7 16.9 25.0 16.7
EBIT-margin (percent of Gross Profit) 24.3 29.9 31.9 33.8 22.8 33.5 26.0
EBT-margin (percent of Revenues) 16.7 20.9 23.2 25.5 16.7 24.9 16.5
EBT-margin (percent of Gross Profit) 23.1 28.6 31.3 33.6 22.5 33.4 25.5
Marketing expenses (percent of Revenues) 20.9 19.2 18.4 18.8 23.4 19.7 20.7
Marketing expenses (percent of Gross Profit) 29.0 26.2 24.8 24.8 31.6 26.4 32.1
               
Earning per share continuing operations, before dilution 1.34 1.55 1.76 1.84 1.06 1.69 1.15
Earning per share continuing operations, after dilution 1.34 1.55 1.76 1.84 1.06 1.69 1.15
Earning per share total operations, before dilution 1.34 1.55 1.76 1.84 1.06 1.69 1.15
Earning per share total operations, after dilution 1.34 1.55 1.76 1.84 1.06 1.69 1.15
Equity per share before dilution 23.85 27.07 25.31 24.15 21.88 24.65 22.78
Equity per share after dilution              
               
Equity/asset ratio 51 54 56 56 53 60 55
Quick ratio              
               
Average share price 77.29 80.50 88.47 79.61 94.88 125.14 145.12
Share price at end of period 73.00 78.00 87.90 94.80 70.10 126.00 155.50
Highest share price 82.40 92.0 96.1 96.20 128.30 153.00 160.00
Lowest share price 72.85 73.1 79.3 63.05 63.35 104.30 127.10

 

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Income Statements, Quarterly

MSEK 2017Q2 2017Q1 2016Q4 2016Q3 2016Q2 2016Q1 2015Q4
Revenues 1,177.5 1,102.0 1,118.5 1,063.3 935.4 1,000.1 1,041.1
Operating expenses from gaming activities -326.4 -295.7 -288.0 -256.2 -240.9 -254.3 -369.6
Gross Profit 851.1 806.3 830.6 807.0 694.6 745.8 671.4
Operating expenses              
Marketing expenses -246.5 -211.4 -206.3 -200.1 -219.2 -196.7 -215.2
Personnel expenses -203.2 -179.1 -175.9 -171.2 -160.6 -150.2 -152.1
Other external expenses -182.0 -166.7 -166.4 -167.2 -156.7 -148.0 -127.9
Capitalized development expenses 56.8 54.0 55.6 59.5 50.8 45.9 42.5
Depreciation -67.2 -60.9 -61.8 -56.0 -49.3 -44.7 -44.7
Other operating income/-expenses -2.2 -1.3 -10.6 0.9 -1.3 -2.0 0.4
Total operating expenses -644.2 -565.4 -565.5 -534.2 -536.3 -495.7 -497.1
Operating income 206.9 240.9 265.1 272.9 158.3 250.1 174.4
Net Financials -10.3 -10.6 -5.5 -1.8 -1.9 -1.2 -3.0
Income before tax 196.6 230.4 259.6 271.1 156.4 248.9 171.4
Tax -10.5 -16.0 -16.0 -17.0 -10.1 -14.9 -12.3
Income for the period from continuing operations
186.1
214.4 243.6 254.1 146.4 234.0 159.1
Income for the period from discontinued operations              
Income for the period
186.1
214.4 243.6 254.1 146.4 234.0 159.1
Of which attributable to:              
Parent company´s shareholders 186.1 214.4 243.6 254.1 146.4 234.0 159.1
Minority interests              
Income of the year 186.1 214.4 243.6 254.1 146.4 234.0 159.1

 

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Balance Sheets, Quarterly

MSEK
2017Q2
2017Q1 2016Q4 2016Q3 2016Q2 2016Q1 2015Q4
Assets              
Non-current assets              
Intangible assets 5,049.0 4,923.2 4,627.5 4257.4 4146.3 4026.7 3980.3
Tangible assets 87.0 88.6 85.9 69.5 70.2 62.5 57.0
Financial assets 10.4 11.5 12.6 13.7 14.6 15.5 16.9
Deferred tax receivables 41.7 39.6 34.9 31.6 25.1 21.5 21.2
Other non-current liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Total non-current assets 5,188.0 5,062.8 4,760.8 4372.1 4256.2 4126.2 4075.5
Current assets              
Inventories              
Current receivables 854.8 954.5 1,057.4 1053.9 1044.3 1144.5 1126.9
Cash and cash equivalents 470.1 874.4 444.3 522.3 412.8 456.5 524.9
Total current assets 1,324.9 1,828.8 1,501.7 1576.3 1457.1 1601.0 1651.8
Total assets 6,512.9 6,891.7 6,262.5 5948.4 5713.2 5727.2 5727.4
               
EQUITY AND LIABILITIES              
Equity 3,301.7 3,746.8 3,502.9 3343.3 3028.1 3412.1 3153.7
Non-current liabilities              
Long-term interest-bearing liabilities 20.1 20.1 20.1       109.9
Deferred tax liabilities 10.6 10.1 0.9 21.2 1.0 1.0 5.9
Issued bonds 992.4 991.6 990.8        
Bankloans   592.4 334.8 700.0 700.0 676.7 505.2
Total non-current liabilities 1,023.0 1,614.2 1,346.6 721.2 701.0 677.7 620.9
Current liabilities              
Short-term interest-bearing liabilities
972.7
0.0   558.9 436.8   228.4
Other current liabilities 1,215.6 1,530.6 1,412.9 1325.0 1547.4 1637.4 1724.3
Total current liabilities 2,188.2 1,530.6 1,412.9 1883.9 1984.2 1637.4 1952.7
Total equity and liabilities 6,512.9 6,891.7 6,262.5 5948.4 5713.2 5727.2 5727.4

 

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Key Figures, Yearly

  2016 2015 2014 2013 2012 2011
Top-line growth (percent) 11 23 23 12 27 8
Gross Margin (percent of Revenues) 74.8 71.9 73.5 71.6 84.1 82.3
EBITDA-margin (percent of Revenues) 28.1 28.1 31.3 28.6 30.9 36.5
EBITDA-margin (percent of Gross Profit) 37.6 39.1 42.5 40.0 36.8 44.3
EBIT-margin (percent of Revenues) 23.0 23.8 27.1 24.3 26.2 32.2
EBIT-margin (percent of Gross Profit) 30.7 33.1 36.8 33.9 31.1 39.2
EBT-margin (percent of Revenues) 22.7 23.7 26.8 24.1 26.0 32.0
EBT-margin (percent of Gross Profit) 30.4 33.0 36.5 33.6 30.9 38.9
Marketing expenses (percent of Revenues) 20.0 20.2 18.1 17.5 28.4 23.9
Marketing expenses (percent of Gross Profit) 26.7 28.1 24.6 24.4 33.8 29.0
             
Earning per share continuing operations, before dilution 6.34 6.02 5.64 4.33 4.35 4.37
Earning per share continuing operations, after dilution 6.34 6.02 5.63 4.33 4.33 4.37
Earning per share discontinued operations, before dilution            
Earning per share discontinued operations, after dilution            
Earning per share total operations, before dilution 6.34 6.02 5.63 4.33 4.35 4.37
Earning per share total operations, after dilution 6.34 6.02 5.63 4.33 4.33 4.37
Equity per share before dilution 25.31 22.78 22.27 15.60 12.44 10.75
Equity per share after dilution            
             
Return on equity 26 27 30 31 38 49
Return on total capital 16 17 19 19 22 30
Return on capital employed 19 19 22 21 24 30
Equity/asset ratio 56 55 61 58 53 59
Quick ratio            
             
Average share price 93.80 127.59 77.15 63.86 63.20 45.51
Share price at end of period 87.90 155.50 91.67 68.00 66.83 50.50
Highest share price 153.00 160.00 94.33 74.83 74.83 54.00
Lowest share price 63.05 91.33 59.33 53.17 50.67 36.58
             
Average number of employees 1,661 1,584 850 789 591 340
Number of employees at end of period 1,821 1,639 870 839 748 412

 

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Income Statements, Yearly

  2016 2015 2014 2013 2012 2011
Revenues 4,117,309 3,721,987 3,035,096 2,476,750 2,203,711 1,736,565
Operating expenses for gaming activities -1,039,336 -1,046,382 -803,748 -704,220 -350,017 -307,676
Gross Profit 3,077,972 2,675,606 2,231,348 1,772,530 1,853,694 1,428,889
Operating expenses            
Marketing expenses -822,308 -752,918 -548,233 -433,112 -626,795 -414,822
Personnel expenses -657,891 -543,477 -448,126 -373,162 -290,944 -197,007
Other external expenses -638,378 -475,221 -439,994 -352,432 -329,317 -232,709
Capitalized development expenses 211,770 146,867 123,097 92,869 80,962 41,397
Depreciation -211,855 -160,676 -127,966 -107,067 -104,983 -73,819
Other operating income/-expenses -12,919 -3,768 31,105 1,564 -5,556 7,813
Total operating expenses -2,131,582 -1,789,193 -1,410,118 -1,171,340 -1,276,632 -869,147
Operating income 946,390 886,412 821,230 601,190 577,062 559,742
Financial items            
Net income from divestment of financial assets         0 0
Net value change from revaluation of financial assets         0 0
Financial income 2,077 5,229 7,594 2,540 4,370 2,859
Financial expenses -12,453 -8,660 -14,027 -7,458 -7,860 -7,184
Total net financial items -10,375 -3,431 -6,433 -4,918 -3,490 -4,325
Income before tax 936,015 882,981 814,797 596,204 573,572 555,417
Tax -57,973 -51,245 -44,125 -34,157 -25,771 -27,596
Income from continuing operations 878,042 831,736 770,671 562,047 547,801 527,821
Income from discontinued operations           -
INCOME OF THE YEAR 878,042 831,736 770,671 562,047 547,801 527,821
Of which attributable to:            
Parent company's shareholders 878,042 831,736 770,671 562,047 547,801 527,821
Minority interests           -
Income of the year 878,042 831,736 770,671 562,047 547,801 527,821



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Balance Sheets, Yearly

TSEK 2016 2015 2014 2013 2012 2011
ASSETS            
Non-current assets            
Intangible assets            
Gaming products, -systems and - platforms 316,452 215,502 187,659 140,225 106,945 75,446
Gaming agreement and concessions 2,421 501 579 651 731 0
Customer databases 28,901 33,716 29,033 8,048 28,647 16,857
Trademarks 1,520,951 1,365,961 990,675 321,286 270,681 149,287
Goodwill 2,758,734 2,364,658 2,194,269 1,567,657 1,257,622 740,765
Total intangible assets 4,627,458 3,980,337 3,402,215 2,037,866 1,664,625 982,355
Tangible assets            
Equipment, servers, hardware 85,937 57,045 50,909 53,764 28,528 26,860
Total tangible assets 85,937 57,045 50,909 53,764 25,828 26,860
Other non-current assets            
Shares in associated companies 12,601 16,903 23,255 26,608 25,194 10,205
Deferred tax receivables 34,851 21,242 29,286 11,672 18,416 14,414
Other long-term receivables     1,800     0
Total other non-current assets 47,452 38,145 54,342 38,280 43,611 6,146
Totals non-current assets 4,760,848 4,075,527 3,507,466 2,129,910 1,736,764 481,962
Current assets            
Inventories            
Consumables           0
Total inventories           0
Current receivables            
Account receivables           0
Tax receivables 483,438 549,635 424,117 470,164 309,036 318,268
Other receivables 490,725 475,425 509,878 298,693 416,326 390,815
Prepaid expenses and accrued income 83,264 101,874 91,093 54,659 27,330 20,510
Total current receivables 1,057,428 1,126,934 1,025,087 823,515 752,692 729,593
Cash and cash equivalents 444,270 524,897 478,122 562,482 467,186 509,672
Total current assets 1,501,698 1,651,831 1,503,210 1,385,997 1,219,878 1,239,265
TOTAL ASSETS 6,262,545 5,727,357 5,010,676 3,515,907 2,956,641 2,273,099
             
EQUITY AND LIABILITIES            
Equity            
Share Capital 96,329 95,406 93,079 86,866 84,538 82,789
Other paid-up capital 1,436,798 1,436,798 1,434,785 908,761 673,769 505,691
Reserves 116,344 24,060 205,259 27,606 -47,099 -777
Retained earnings including annual income 1,853,463 1,597,453 1,340,644 1,008,985 866,591 746,634
Equity attrebutable to the parent company's shareholders 3,502,934 3,153,717 3,073,767 2,032,217 988,347 1,334,337
Minority interests         0 -
Total equity 3,502,934 3,153,717 3,073,767 2,032,217 1,577,798 1,334,337
Non-current liabilities 20,090 109,873        
Issued bond 990,779          
Liabilities to credit institutions 334,841 505,166 523,353   344,547 0
Deferred tax liabilities 951 5,905 5,368 4,141 9,280 8,020
Total non-current liabilities 1,346,661 620,944 528,720 4,141 353,827 8,020
Current liabilities            
Convertible loans           0
Liabilities to credit institutions   228,375   315,709   0
Advance payment from customers           0
Accounts payable 154,681 76,792 57,756 93,986 73,169 27,011
Tax liabilities 576,514 553,173 486,922 379,250 361,351 373,283
Other liabilities 370,653 783,593 625,447 530,475 437,792 378,488
Accrued expenses and deferred income 311,102 310,763 238,064 160,129 152,703 151,960
Total current liabilities 1,412,950 1,952,697 1,408,189 1,479,549 1,025,015 930,742
TOTAL EQUITY AND LIABILITIES 6,262,545 5,727,357 5,010,676 3,515,907 2,956,641 2,273,099
             
Assets pledged           35,600
Contingent liabilities            

 

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Cash-Flow Statements, Yearly

TSEK 2016 2015 2014 2013 2012 2011
CASH FLOW FROM OPERATIONS            
Income after financial items continuing operations 936,015 882,981 814,797 596,202 573,572 555,417
Income after financial items discontinued operations           0
Adjustments for non cash items            
Depreciation 211,855 160,676 127,966 107,067 104,983 73,819
Writedowns on assets           858
Capital gains/losses from divestments       -1,016   -17,115
Revaluation of financial instruments at fair value           0
Other adjustments 5,904 119,854 -30,188 5,781 5,375 5,557
Tax paid -101,946 -27,720 -45,434 -4,309 2,703 -10,887
Cash flow from operating activities before changes in working capital 1,051,828 1,135,791 867,142 703,725 686,633 607,649
CHANGES IN WORKING CAPITAL            
Changes in inventories           0
Changes in current receivables 140,218 3,433 -29,336 -81,169 -66,246 -33,836
Changes in current liabilities -23,594 15,237 30,469 60,927 45,681 -36,575
Cash flow from operating activities 1,168,452 18,670 868,274 683,483 666,068 537,238
             
INVESTMENT BUSINESS            
Acquisition of intangible assets -252,762 -185,815 -143,500 -101,744 -91,046 -43,831
Acquisition of tangible assets -63,970 -14,622 -12,752 -36,779 -9,967 -7,109
Sale of tangible assets 2,800         17,164
Acquisition of shares and participating interests     -1,800 -15,761 -15,001 -11,003
Acquisition of shares and participating interests, subsidiaries incl acq cash -370,043 -420,093 -338,556   -518,350 -203,788
Sale of shares and participating interests   12       0
Sale of current investments 35,049 22,918       0
Changes in long-term receivables           0
Cash flow from investing activities -648,926 -620,518 -496,608 -154,284 -634,364 -248,567
             
FINANCING ACTIVITIES            
New share issues/payment of warrants 727 2,012   12,320   2,690
Paid gaming tax provisions -90,210          
Issued bond 993,000          
Issue expenses/cost of redemption programme       -165   -152
Dividend/Redemption -624,250 -549,719 -421,520 -410,876 -417,362 -275,759
Exercise of options -657 -20,991 -17,388 -9,181 -10,402 -563
Additional purchase prices -430,700 -137,109       8
Distribution of operations, subsidiaries           0
Distribution costs, distribution of subsidiaries           0
Loans raised/repaid   436,700 378,002   431,800 0
Amortization of loans etc -464,819 -200,084 -418,331 -39,640 -74,087 0
Acquisition of own shares           0
Cash flow from financing activities -616,909 -469,191 -479,237 -447,542 -70,051 -273,776
Changes in cash and cash equivalents -97,382 64,752 -107,572 81,657 -38,347 14,895
Cash and cash equivalents - opening balance 524,895 478,122 562,482 467,186 509,672 497,076
Exchange rate differences cash and cash equivalents 16,757 -17,979 23,212 13,638 -4,139 -2,299
Cash and cash equivalents - closing balance 444,269 524,895 478,122 562,481 467,186 509,672
             
Of which cash flow from discontinued operations            
Operating activities 0 0 0 0 0 0
Investment activites 0 0 0 0 0 0
Financing activities 0 0 0 0 0 0
Total discontinued operations 0 0 0 0 0 0

 

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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

74.25 +3.10 SEK

Last updated: 2017-09-22 17:29

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BETSSON AB (publ), Regeringsgatan 28, SE- 111 53 Stockholm Tel: +46 (0) 8 506 403 00, Fax: +46 (0) 8 735 57 44, org nr 556090-4251, info@betssonab.com | Privacy | Contact | Sitemap |