In particular, for year 2022 Gross Gaming Revenues (GGR) landed at €1,939.0m vs €1,538.8m in FY’21, higher by 26.0% on the back of elevated gaming demand and broadened online customer base. Q4 2022 GGR stood at record high levels of €540.9m, increased by 8.5% y-o-y, reflecting a boost from product initiatives alongside increased footfall and playability across channels, also driven by the World Cup and notwithstanding players’ friendly match results.
Gross Profit (from gaming operations) in FY’22 up by 31.8% y-o-y at €798.8m (FY’21: €605.8m), due to topline growth alongside higher margins. Q4’22 higher by 14.7% at €223.9m (Q4 2021: €195.3m).
EBITDA in FY’22 higher by 33.7% at €736.0m (FY’21: €550.3m) or +38.5% l-f-l, reflecting increased revenue and improved margins. Q4’22 EBITDA came in at €202.7m (Q4’21: €170.4m), up by 18.9% or +17.7% l-f-l.
Operating Expenses in FY’22 at €365.1m vs €321.8m in FY’21, higher by 13.5% y-o-y to support retail operations going back to full scale and online growth. Q4’22 Opex reached €113.9m higher by 22.2% y-o-y driven mainly by higher marketing expenses. On a comparable basis, excluding one-off items, FY’22 Opex increased by 11.5% y-o-y, while landing higher by 23.9% y-o-y in Q4’22.
Net Profit in FY’22 stood at €592.3m (FY’21: €259.4m) up by 128.3%. Q4’22 Net Profit stood at €306.5m (Q4’21: €81.2m), increased by 277.6% incorporating €181.3m profit from Betano sale. On a l-f-l basis and after excluding one-off items in both years, Net Profit in FY’22 landed at €436.0m, up by 73.8% y-o-y, while stood at €127.5m in Q4’22, higher by 47.9% y-o-y, showcasing improved margins.
Solid financial position, with Net Debt / EBITDA at 0.08x (0.15x incl. leases).
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