SBC News Betfair - 2015 an excellent year following profits & revenue jump

Betfair – 2015 an excellent year following profits & revenue jump

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Breon Corcoran

Betfair governance has named 2015 (year end 30 April) as an excellent year, as the operator saw full year top line metric growth on all key performance verticals.

Posting 5 consecutive quarters of double digit growth, Betfair would record corporate revenues of £476 million up 21% on FY 2014 £393 million. The operator would further record a boost in EBITDA earnings of 32% to £120 million (FY 2014 – £91 million), Betfair management stated that its earnings would have increased 50% excluding UK POC Tax charges.

Betfair outlined that its strong 2015 performance had been driven by achieving profitable scale in sustainable markets and strategically developing/enhancing its products. The operator would support its product and operations strategy with increased marketing activity to boost player numbers.

furthermore the operator noted that its operations had been successful at implementing customer cross sell product strategies from sports betting to igaming verticals.

The operator further stated that its growth had been aided by strong customer activity during major sporting events such as the FIFA 2014 World Cup, Cheltenham Festival and Grand National racings.

The operator would continue its strong customer momentum as it recorded a 52% gain in active player numbers to 1.7 million, supported by 65% increase in new customer acquisitions for 2015.

Betfair CEO Breon Corcoran commented on company 2015 performance

“FY15 has been an excellent year for Betfair. We are successfully executing our strategy and achieving profitable scale in sustainable markets. Our investments are working, the business now operates at pace and our people have a strong will to win.”

“Product is a key reason why customers join and stay with Betfair. Important product improvements, including the extension of Price Rush to each way bets and Cash Out to in-running horse racing, helped to drive a strong performance during these key racing festivals.”

“Betfair is well positioned for further growth and we look forward to building on these results in FY16.”

Betfair stated that it was upbeat on 2016 prospects despite the new UK tax regime. Betfair governance noted that the company was confident on delivering on corporate targets and expectations.

Betfair Full Year 2015 Performance Overview

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