Allwyn doubles revenue to €7.88 billion in 2023

Finance News

Allwyn International and, together with its subsidiaries, joint ventures and associates announces its preliminary unaudited financial results for the three and twelve months ended 31 December 2023 and provides an update on recent developments and current trading. 

Total Revenue of €7,878.1 million in FY 2023, with strong growth of +6% YoY excluding acquisitions during the year; +98% YoY on a reported basis. Adjusted EBITDA of €1,484.6 million, underpinned by growth of +12% YoY excluding acquisitions; +27% YoY on a reported basis

Q4 Consolidated Total Revenue of €2,177.5 million, +4% YoY excluding acquisitions; +97% YoY on a reported basis. Q4 Consolidated Adjusted EBITDA of €388.5m, +15% YoY excluding acquisitions; +30% YoY on a reported basis.

Robert Chvatal, Allwyn CEO, commented: “I am pleased to report that 2023 was another year of strong financial and operational performance and strategic progress. We continued to execute our growth strategies successfully, while maintaining our relentless focus on safer play and accountability to all our stakeholders.

I believe that the consistent delivery by our teams, bringing new games, new features and upgrades to the player experience, as well as an expanded geographic footprint and enhancements to our in house technology and content, support our aspiration to be the operator of choice and position us well for future growth.

On a reported basis, which includes the impact of the Camelot Acquisitions that we completed in the first quarter, Total Revenue increased 98% year-on-year. Excluding the acquisitions, we delivered strong Total Revenue growth of 6% year-on-year.

This robust performance was underpinned by further progress in digital, which continues to grow as a share of GGR. We sustained momentum in product development and innovation, with a highlight of the year being new launches in the exciting annuity category in Austria, the Czech Republic, and Greece and Cyprus.

During the year we once again saw the resilience of demand for our products, notwithstanding an inflationary backdrop in which consumer spending remained under pressure. We also continued to deliver solid margins and free cash flow generation, with only a limited impact of inflation on our cost base, reflecting our favourable cost structure, with our largest cost categories being directly linked to revenue, and our focus on cost and capital efficiency.