EveryMatrix overcomes Germany hurdles to hit €65m profits

EveryMatrix has reported strong trading throughout 2022, closing the year with gross profit of €65m, driven by ‘significant growth’ across both its sports and casino segments.

Year end revenue rose by 26% year-on-year from €51.3m, whilst quarterly trading was also positive, having increased by 39% YoY to €19.4m, whilst annual EBITDA stood at €23.3m.

This marked an overall full year EBITDA increase of 23% YoY, with a margin of 36%, whilst the figure for the final quarter was €6.9m, rising 81%.

Germany proved to be a slight burden for the firm, which noted that yearly profit rose by 43% year-on-year when this market was excluded, with restrictions on casino operations in the newly regulated sector cited as impacted performance.

Ebbe Groes, Group CEO of EveryMatrix, said: “It has been a phenomenal year on so many levels with records broken in every area of the business and every business unit contributing to our best 12 months yet. 

“Equally pleasing is that we foresee this strengthening with several imminent landmark tier-1 launches in Sports, Casino and Platform set to contribute to even greater success and enabling us to continue to invest in future growth.”

Regarding German difficulties, the group attributed its ‘strategic diversification and a broad client base’ as helping overcome these hurdles, which particularly impacted its casino operations.

Additional Q4 developments saw bet-at-home partner with the group, whilst EveryMatrix went live with BetMGM as its first US client and secured a Michigan gaming licence, expanding its presence in the country to three states including West VIrginia and New Jersey.

Post quarter, OddsMatrix secured a partnership with Hungarian lottery operator Szerencsejáték Privately Held Company Limited to support its sports betting activity.

Groes concluded: “This could not have been achieved without the extraordinary effort, expertise and energy that our teams and individuals across multiple global locations have consistently shown throughout 2022, with a very special mention to our friends and colleagues in Ukraine who we are committed to unconditionally supporting at all costs.”