LeoVegas Unveils Preliminary Results for Q2 2018
Swedish mobile gaming company and online casino and sports betting provider LeoVegas AB has disclosed its preliminary results for the second quarter of the year 2018, providing thereby above corporate exceptions.
The trading period concluding with 30 June 2018 was marked with the company’s benefiting from marketing efficiencies.
Better Than Expected
The firm has detailed that the numbers recently calculated and published in the preliminary results had overtaken the figure that has been the company’s current expectation. LeoVegas AB governance is now anticipating a trading period Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of about €15 million.
The enhanced EBITDA guidance has resulted from LeoVegas operations sustaining “marketing costs in relation to revenue at approximately 35%”, which is considerably lower than the company’s expected target marketing-to-revenue cost rate of 42%. What has also boosted LeoVegas group revenue performance are the Marketing efficiencies, and it is now anticipated at approximately €87 million.
The Company’s Secret Strategy
Gustaf Hagman, Chief Executive Officer of LeoVegas Group, has said in an announcement that the firm’s data-driven marketing model works so that they invest when they see good enough returns in the marketing channels. LeoVegas CEO has also stated that ” During the World Cup there are many gaming companies that are advertising, which means that the effectiveness of marketing and the value of customers can be more uncertain.” The firm’s models have indicated that they should not advertise on certain channels because of the low return, which has, as a result, led to a substantially higher EBITDA than anticipated.
In April, Hagman and LeoVegas administration launched the company’s ‘2020 corporate vision’ in pursuit of becoming a Stockholm-listed enterprise generating €100 million in EBITDA utilising its organic and acquired channels.
“We continue to act in line with achieving our financial targets, which is to reach EUR at least 600 million in revenue and EUR 100m in EBITDA results in 2020, ” Hagman has concluded.
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