LeoVegas Group first quarter revenue dips 4%

Finance News

LeoVegas Group first-quarter revenue decreased 4% and amounted to EUR 95.0 m (98.5). Organic growth in local currencies adjusted for closed markets was 5%.

Reported EBITDA was EUR -3.1 m (14.1) and included items affecting comparability totalling EUR -2.0 m (0.0). Items affecting comparability were attributable to transaction-related costs and provisions for incentive programmes.

Revenue totalled EUR 95.0 m (98.5) for the first quarter, cor- responding to a decrease of 4% compared with the preceding year. Organic growth in local currencies excluding closed markets was 5%. In the Nordic countries, NGR declined 3% year-on-year.

Gross profit for the first quarter was EUR 61.5 m (66.5), cor- responding to a gross margin of 64.7% (67.5%). Gaming taxes totalled EUR 18.8 m (16.3), corresponding to 19.8% of revenue (16.6). Cost of sales was 15.5% of revenue (15.9) and consisted mainly of costs for external game and payment service pro- viders.