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Betsson profit misses consensus by 57.8% in Q4

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Betsson profit misses consensus by 57.8% in Q4

Betsson AB said its normalized net income for the fourth quarter amounted to 79 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 1.87 kronor per share.

EPS decreased 20.1% year over year from 99 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 109.0 million kronor, a decrease of 20.1% from 136.3 million kronor in the year-earlier period.

The normalized profit margin declined to 10.5% from 16.7% in the year-earlier period.

Total revenue increased 27.8% year over year to 1.04 billion kronor from 814.7 million kronor, and total operating expenses climbed 45.4% on an annual basis to 862.9 million kronor from 593.3 million kronor.

Reported net income decreased 34.2% from the prior-year period to 159.5 million kronor, or 1.15 kronor per share, from 242.4 million kronor, or 1.75 kronor per share.

For the year, the company's normalized net income totaled 4.01 kronor per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 6.73 kronor.

EPS rose 12.9% from 3.55 kronor in the prior year.

Normalized net income was 553.7 million kronor, a gain of 14.1% from 485.2 million kronor in the prior year.

Full-year total revenue increased 22.6% on an annual basis to 3.72 billion kronor from 3.04 billion kronor, and total operating expenses rose 26.1% on an annual basis to 2.83 billion kronor from 2.24 billion kronor.

The company said reported net income increased 8.1% year over year to 832.2 million kronor, or 6.02 kronor per share, in the full year, from 770.1 million kronor, or 5.63 kronor per share.

As of April 7, US$1 was equivalent to 8.15 Swedish kronor.