Betsson's revenue rose 10 percent, net profit fell 44 percent

Betsson increased its revenue by 10 percent to 326.5 million euros in the third quarter. However, net profit fell 44 percent to 28.2 million euros. Earnings per share declined from 0.34 euros to 0.19 euros.

Earnings before interest, taxes, depreciation and amortization (EBITDA) decreased 23 percent to 63.4 million euros. The EBITDA margin fell from 27.9 percent to 19.4 percent. Operating profit (EBIT) declined 31 percent to 46.1 million euros. Organic revenue growth was reported as 8 percent.

Casino revenue rose 14 percent to 253.5 million euros and made up about 78 percent of group revenue. Sports betting revenue rose 1 percent to 71.8 million euros. Gross betting turnover increased 8 percent to 1.37 billion euros, but the margin after free bets fell from 8.8 percent to 8.1 percent.

The number of active B2C customers rose 40 percent to 1.87 million. Customer deposits rose 6 percent to 1.55 billion euros. For the nine-month period, revenue rose 3 percent to 922.1 million euros, while net profit fell 43 percent to 84.1 million euros. Western Europe reached its highest quarterly revenue to date.