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19-04-2018 – Against the background of strong organic growth and several acquisitions that are contributing to LeoVegas‘ success as a growth company, the Board of Directors has adopted new financial targets for the Group. LeoVegas is targeting at least EUR 600 m in revenue by 2020 and at least EUR 100 m in EBITDA by 2020. The targets apply for the entire Group.
Financial targets for 2020
Growth and revenue:
- LeoVegas’ target is to achieve revenue of at least EUR 600 m by 2020.
Profit:
- LeoVegas’ target is to achieve at least EUR 100 m in EBITDA by 2020.
“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,” comments Gustaf Hagman, CEO of LeoVegas Mobile Gaming Group.
Long-term financial targets
- Long-term organic growth that outperforms the online gaming market
- Long-term EBITDA margin of no less than 15% assuming that 100% of revenue will be generated in regulated markets subject to gambling tax
- To pay a dividend of at least 50% of profit after tax
LeoVegas’ financial report for the first quarter of 2018 will be published on 2 May. In connection with a presentation the same day at 9:00 CET there will be an opportunity to ask questions and obtain more in-depth information about the targets. The webcast will be accessible here!
About the LeoVegas mobile gaming group:
LeoVegas’ passion is “Leading the way into the mobile future”. LeoVegas is Sweden’s premier GameTech company and is at the forefront of using state-of-the-art technology for mobile gaming. In 2017 the company passed the threshold for being classified as a unicorn, i.e., a start-up valued at more than USD 1 billion. A large part of this success can be credited to an extreme product and technology focus coupled with effective and data-driven marketing. Technology development is conducted in Sweden, while operations are based in Malta. LeoVegas offers casino, live casino and sport gaming, and operates two global and scalable brands – LeoVegas and Royal Panda – as well as a local, multibrand operator collectively referred to as Rocket X. The company’s shares are listed on Nasdaq Stockholm. For more about LeoVegas, visit www.leovegasgroup.com.
Source: European Gaming News
