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LeoVegas AB: Preliminary results for the second quarter 2018 higher than expected

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LeoVegas AB: Preliminary results for the second quarter 2018 higher than expected
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18.07.2018 – The LeoVegas Group (“LeoVegas“) EBITDA for the second quarter of 2018 amounts to approximately EUR 15 million (approximately 17% EBITDA margin), which is higher than the company’s internal expectations. The reason for communicating the preliminary result early is that LeoVegas‘ marketing costs in relation to revenue are approximately 35%. This is significantly lower than what was communicated by the company in the quarterly report for the first quarter, where it was expected that marketing costs in relation to revenue would exceed 42% in the second quarter. Revenue for the second quarter amounts to approximately EUR 87 million.

 

“Our data-driven marketing model works so that we only invest if we see good enough returns in our marketing channels. During the World Cup there are many gaming companies that are advertising, which means that the effectiveness of marketing and the value of customers can be more uncertain. Our models have indicated that we should not advertise in some channels due to the low return, which in turn led to a significantly higher EBITDA than expected. We continue to act in line with achieving our financial targets, which is to reach EUR at least 600m in revenue and EUR 100m in EBITDA results in 2020, ” comments Gustaf Hagman, CEO of LeoVegas Mobile Gaming Group.

In the quarterly report for the first quarter is was communicated that: “Marketing in relation to revenue for the Group in the second quarter of 2018 will be higher than the average for 2017, which was 42.3%. Due to the marketing opportunities surrounding the World Cup, the total amount of marketing is more difficult than usual to anticipate in advance. LeoVegas will act opportunistically with marketing on the opportunities we see.”

Preliminary figures for the second quarter of 2018

Work on the quarterly report for the second quarter is ongoing and the figures presented below are only preliminary. Marketing costs are expected to amount to approximately EUR 30 million and revenues are expected to amount to approximately EUR 87 million. Marketing costs in relation to the Company’s revenues are expected to amount to approximately 35%. This has a material effect on the Company’s EBITDA, which is expected to amount to approximately EUR 15 million with an EBITDA margin of about 17%.

 

LeoVegas’ quarterly report for the second quarter of 2018 will be published on August 1st. In addition to what is stated herein, the company will not comment on the results before the quarterly report for the second quarter is published. In connection with the presentation the same day at 9:00 CET there will be the opportunity to ask questions. The webcast is available at:https://edge.mediaserver.com/m6/p/zupwii5n

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Invitation: LeoVegas Group fourth quarter 2021 results presentation

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Invitation: LeoVegas Group fourth quarter 2021 results presentation
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LeoVegas Group will publish the interim report for the fourth quarter 2021 at 08:00 CET on 11 February 2021. The results will be presented at a webcast and conference call hosted by Gustaf Hagman, CEO, and Stefan Nelson, CFO, at 09:00 CET the same day, followed by a Q&A session.

The webcast will be accessible via the Quartr app and at:

  • https://edge.media-server.com/mmc/p/dcefqmd9

Or by telephone at:

  • SE: +46 (0) 8 50 69 21 80
  • UK: +44 (0) 20 71 92 80 00
  • US: +1 63 15 10 74 95
  • Confirmation code: 167 08 19
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REPURCHASES OF SHARES IN LEOVEGAS

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REPURCHASES OF SHARES IN LEOVEGAS
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During the period 29 November – 3 December 2021 LeoVegas repurchased a total of 30,000 shares in the company within the framework of the repurchase programme announced by the Board of Directors on 27 May 2021 to optimise the company’s capital structure and thereby create shareholder value.

Read more about the board’s decided repurchase program here. The repurchase programme is being conducted in accordance with Nasdaq Stockholm’s Rule Book for Issuers.

During the period 29 November –3 December 2021, shares in LeoVegas were repurchased as follows.

Date Aggregate daily volume (no. shares) Average price per day (SEK) Transaction value per day (SEK)
03/12/2021 30,000 30.74 922,050
Total 30,000 922,050

On 3 December 2021, following the repurchases carried out above, LeoVegas’ holding of treasury shares amounts to 3,357,970 shares. The total number of shares outstanding in LeoVegas is 98,295,000 shares.g

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NOMINATION COMMITTEE APPOINTED FOR LEOVEGAS AHEAD OF THE 2022 ANNUAL GENERAL MEETING

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Invitation: LeoVegas Group fourth quarter 2021 results presentation
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In accordance with the principles for appointment of the Nomination Committee of LeoVegas AB adopted by the Annual General Meeting on 11 May 2021, the Nomination Committee shall consist of five members appointed by the four largest shareholders. The fifth member shall be the Chairman of the Board.

Based on the above, the Nomination Committee ahead of the Annual General Meeting has been determined to consist of the following persons, who together represent approximately 17 percent of the number of shares and votes in the Company as per 30 September 2021:

  • Anders Fast, appointed by Gustaf Hagman
  • Malcolm Lilliehöök, appointed by Torsten Söderberg
  • Pontus Hagnö
  • Robin Ramm-Ericson
  • Per Norman, Chairman of the Board

The Nomination Committee’s recommendations will be presented in the Notice of the 2022 Annual General Meeting as well as on the Company’s website.

Shareholders who wish to submit proposals to the Nomination Committee may do so by email to [email protected] In order for the Nomination Committee to be able to consider a proposal, it must submit well in advance of the Annual General Meeting, but by 1 February 2022 at the latest.

LeoVegas’ Annual General Meeting will be held in Stockholm on 19 May 2022.

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