The following is a summary of the Betsson AB (Publ) (BTSBF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Betsson reported Q1 2024 Group revenue growth of 12% and operating profit EBIT growth of 35% despite foreign exchange impact. This resulted in a record operating profit with EBIT at €58 million being the highest in a single quarter.

• The company experienced growth in gaming turnover for casino and sports betting sectors with year-on-year increases of 14% and 25% respectively.

• EBIT margin increased by approximately 4% to 23.3%.

Business Progress:

• Betsson initiated a strategic plan focused on geographical diversification and growth investments, entering new markets in Colombia, Italy, and Argentina.

• The company expanded its presence in the Dutch market by acquiring Holland Gaming Technology and Holland Power Gaming, showing a commitment to in-market consolidation.

• Despite a temporary negative swing in working capital for this quarter, it does not cause concern, as it is expected to balance out in the future.

• Betsson is in the process of exploring potential opportunities for online casinos in France, pending upcoming industry decisions.

• Initial performance indicators from their entrance into the Italian market are promising, though profit and loss impact is not substantial at this early stage.

• Betsson remains open to potential buybacks and future acquisitions due to their strategic importance, backed by a sturdy balance sheet.

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