Angler Gaming's Q4 2024: EBIT Soars Despite Revenue Dip
Angler Gaming reports a mixed Q4 2024, with a notable increase in EBIT despite a slight revenue decline.
Sammanfattning
Angler Gaming's Q4 2024 results show a 43.05% increase in EBIT despite a 3.68% revenue decline. The company's strategic focus on B2B growth and operational efficiency is paying off.
Angler Gaming's fourth quarter of 2024 presents a mixed financial picture, with a 3.68% decrease in revenues to €9,360,652 compared to the same period last year. However, the company has demonstrated impressive operational efficiency, with EBIT rising by a remarkable 43.05% to €1,172,949, resulting in an improved EBIT margin of 12.53%.
Despite the revenue dip, the company's strategic direction appears promising. The net profit did experience a decline of 41.09% to €132,838, attributed in part to a one-off cost of €359,019 for updating the accounting model for jackpot contributions in its subsidiary, Premier Gaming Ltd. This move suggests a long-term commitment to financial transparency and accuracy.
Premier Gaming Ltd, although only contributing 4.17% to the Group's revenues, is a key player in Angler Gaming's Northern European strategy. The ongoing marketing investments in Swedish brands like ProntoCasino.se and ProntoSport.se are expected to yield long-term benefits, with an increase in active customers and customer lifetime, despite current low value per user.
The repayment of short-term borrowing is progressing well, reducing the Group's debt burden significantly. With only €100,000 remaining, down from €1,000,000, Angler Gaming is positioning itself for future financial stability.
Looking forward, the trading update for Q1 2025 is optimistic, with average daily revenue up by 1% compared to the same quarter last year and 16% higher than Q4 2024. This indicates a positive start to the new year.
Marlin Media Ltd, the Group's affiliate marketing arm, has shown strong growth in organic search presence, with click-through traffic up by 241% and search impressions by 120%. This reinforces the Group's strategic focus on expanding its B2B business.
Given these developments, Angler Gaming's strategic initiatives and operational improvements make it a compelling hold for investors. The company's commitment to shareholder value, as evidenced by the proposed €1,000,000 dividend for 2024, further underscores its positive outlook.
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Sammanfattning
For the fourth quarter of 2024, Angler Gaming plc reported a 3.68% decrease in revenues to €9,360,652, while EBIT rose by 43.05% to €1,172,949, resulting in an EBIT margin of 12.53%. Net profit fell by 41.09% to €132,838, and earnings per share were €0.0018. An extraordinary event cost €359,019 due to an updated accounting model at Premier Gaming Ltd. Operating cash flow at the end of Q4 2024 was €1,379,955. Premier Gaming Ltd contributed 4.17% of the Group’s revenues. In Q1 2025, average daily revenue increased by 1% compared to Q1 2024 and by 16% compared to Q4 2024. The Group continued to repay its only loan, reducing the balance to €100,000. CEO Thomas Kalita increased his stake in the company to 8.64%. The B2B business remained stable, with increased marketing investment in Premier Gaming Ltd. Marlin Media Ltd showed significant growth in organic search presence. After Q4 2024, the Board proposed a €1,000,000 dividend for 2024. The Turn-Around project was deemed successful, enhancing the Group’s I-Gaming platform. Marlin Media migrated to a new content management system and integrated AI technology. For the full year 2024, revenues increased by 3.03% to €40,111,114, and EBIT rose by 37.71% to €5,668,299, with a net profit increase of 11.03% to €2,376,225. Earnings per share were €0.0317. CEO Thomas Kalita expressed satisfaction with the year's performance and the resumption of dividends, highlighting the company's focus on revenue growth and profit margin improvement. The I-Gaming platform showed strong underlying KPIs with growth in active and new depositing customers. Marlin Media Ltd demonstrated strong growth in organic search metrics.
