The following is a summary of the Super Group Limited (SGHC) Q2 2024 Earnings Call Transcript:
Financial Performance:
Super Group reported a quarterly record revenue of €408 million, reflecting a 9% year-on-year growth.
Adjusted EBITDA also set a record at €98 million, up 11% year-on-year, with a strong margin of 24%.
After accounting for redundancy costs, margin would have been 26%.
The company has a significant presence in iGaming, generating about 80% of its revenue.
They are exiting the U.S sports betting market but maintaining their iGaming presence in New Jersey and Pennsylvania.
Business Progress:
Super Group integrated Apricot sportsbook efficiently in Q2.
They plan to divest from the U.S. sports betting market to focus on high-potential markets.
Two new brand marketing deals to boost global recognition: Betway is now the title sponsor for South Africa's Premier Soccer League and the official global betting partner for Manchester City.
Cash and cash equivalents stand at €307 million with no debt, contributing to a strong balance sheet.
Opportunities:
Tailoring offerings to market specifics facilitates entry and growth in new and existing markets.
Super Group plans to continue leveraging its markets to optimize its footprint, focusing on those that generate the highest returns.
Risks:
Adjusting operations in competitive and highly regulated markets could impact profitability.
Changes in regulatory environments in their operating markets could affect operations and market accessibility.
More details: Super Group IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.