LeoVegas has made a public declaration concerning the company’s business and financial goals for the future.
Recent financial perofmances, partnership results and acquisitions have set the tone for new expexcations that are deemed realistic by the company’s board of directors, who are not eyeing the total annual revenue of at least €600 million for the year of 2020! Another profit goal that has been set is achieveing at least €100 million in EBITDA by the same year.
The company has listed some of the key long-term financial targets, as well. LeoVegas is looking for a long-term organic growth that outperforms the online gaming market, as well as the long-term EBITDA margin, “no less than 15% assuming that 100% of the revenue will be generated in regulated markets subject to gambling tax.“ Finally, the brand is hoping to by paying a divident of at least 50% of profit after tax. A full financial report for the first quarter of 2018 will be publicly announced on May 2nd.
Mobile Gaming Group CEO, Gustaf Hagman, commented on these latest ambitions: “Following our acquisitions we have now drawn up new financial targets. In 2015 we set the target to achieve EUR 300 m in revenue by 2018. The new revenue target entails a doubling to at least EUR 600 m by 2020 and does not include potential major acquisitions. At the same time, we are aiming for EBITDA of at least EUR 100 m, which implies adjusted* earnings per share of at least SEK 8† by 2020. The new targets confirm our continued focus on strong growth combined with a sound view of profitability. The targets create transparency regarding where we are headed, both internally and externally.“
Source:
“LeoVegas announces financial targets for 2020“, leovegasgroup.com April 19, 2018.
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