The governance of Stockholm-listed online gambling group LeoVegas AB, has presented the firm’s 2020 enterprise vision of generating at least €600 million in group revenues, combined with a corporate EBITDA of €100 million.
Updating investors and stakeholders, the operator sets its target following a transformative year, in which LeoVegas has significantly grown its ‘flagship organic brand’, whilst completing the acquisitions of Royal Panda (€60 million) and IPS Gaming (£65 million).
Gustaf Hagman, CEO of LeoVegas AB Gaming Group commented on the firm’s 2020 guidance
“Following our acquisitions we have now drawn up new financial targets. In 2015 we set the target to achieve EUR 300 m in revenue by 2018. The new revenue target entails a doubling to at least EUR 600 m by 2020 and does not include potential major acquisitions. At the same time, we are aiming for EBITDA of at least EUR 100 m, which implies adjusted* earnings per share of at least SEK 8** by 2020. The new targets confirm our continued focus on strong growth combined with a sound view of profitability. The targets create transparency regarding where we are headed, both internally and externally,”
Backing its ambitious 2020 targets, LeoVegas seeks to aggressively expand its presence and services within the UK and German online gambling markets.
Furthermore, the company has set-up its ‘LeoVegas Futures’ division, scoping the best innovation-led products and corporate M&A opportunities to aid the firm’s future growth strategy.
Setting-up its long-term 2020 targets, LeoVegas governance details that it will seek to trade under the following operational guidance:
- Long-term organic growth that outperforms the online gaming market
- Long-term EBITDA margin of no less than 15% assuming that 100% of revenue will be generated in regulated markets subject to gambling tax
- To pay a dividend of at least 50% of profit after tax