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Gentoo Media has achieved all corporate objectives of a transformative year, completing a successful transition to become a standalone media business.
Publishing its Q4 2024 accounts, Gentoo registered its 16th consecutive ‘all-time high’ in revenues, reaching €36m—up 35% on like-for-like 2023 comparatives of €26m.
Q4’s high revenue results were achieved despite Gentoo registering an 18% decline in new depositing customers (NDCs) to 112,000—a KPI decrease reflecting a “strategic focus on higher-value markets,” in which customer deposits were maintained at €200m.
Period trading prioritised the performance of its media network in Google rankings, as Gentoo’s Publishing unit increased its revenue contribution to €28m, up 41% on 2023 comparatives of €19.5m.
Strategic insights detailed: “Revenue from non-top-five websites grew by 55% year-over-year, while revenue from the top five websites remained in line with the fourth quarter of 2023, reflecting balanced growth across both high-performing and emerging assets.”
Despite its focus on organic growth, Gentoo maintains a positive contribution from its Paid Media unit, which generated revenues of €8.2m (Q4 2023: €6.5m)—a 13% uplift “reflecting continued optimisation across PPC, display, and social media campaigns.”
Gentoo noted that it will continue prioritising its media contracts referring players on a revenue-share agreement, as Q4 marketing expenses totalled €10m (Q4 2024: €8.4m).
Standalone accounts saw Gentoo register a 31% increase in EBITDA (before special items) to €14.3m (Q4 2024: €10.9m), as Gentoo returned to a positive net profit contribution of €7.8m.
Jonas Warrer, CEO of Gentoo Media, stated: “Our diversification strategy continues to yield strong results, and in Q4, Gentoo Media achieved record revenue of EUR 35.9 million, a year-on-year increase of 38%. EBITDA before special items reached EUR 14.3 million, up 31% year-over-year, with an EBITDA margin of 40%.
There has been a considerable amount of work related to the split, and it has been a very eventful year in the industry, where both challenges and opportunities have never been greater—making me even more proud of the performance we have been able to deliver this quarter.”
Full-year results underscored Gentoo’s standalone status, as group revenues stood at €125m—up 41% on FY 2023 results of €88m.
Following its split from Gaming Innovation Group (GiG), Gentoo has prioritised streamlining its operations to enhance the agility of its publishing technologies and improve asset profitability.
Of strategic significance, the acquisition of SEO studio Titan Inc was completed to secure operational cost savings and strengthen the publishing network against Google changes. Streamlining benefits contributed to the improved performance of major portals AskGamblers.com and KaFe Rocks, securing “higher-value players.”
Closing its Q4 and FY 2024 accounts, Gentoo reports EBITDA before special items rising 45% YoY to €57.2 million, maintaining a 46% margin despite higher marketing and operating costs linked to expansion and technology investments.
FY 2024 net profit doubled to €25.8 million, driven by organic growth, acquisitions, and improved efficiency. Although cash flow from operations declined to €31.2 million (FY 2023: €40.6 million) due to higher spending on growth initiatives, Gentoo remains well-positioned for long-term profitability and sustained expansion.
Moving into 2025, Gentoo will continue prioritising its focus on high-value markets, generating higher-value depositing customers. Leadership is confident that its strategy will maintain double-digit growth in revenue and earnings.
Tech optimisation and SEO advancements are strengthened by Gentoo securing a €25 million revolving credit facility with Citibank, with €7 million drawn by year-end.
Mikael Harstad, Chairman of the Board at Gentoo Media, stated: “Looking ahead to 2025, the dust has settled, and our primary focus will be on expanding our business through organic growth, forging new partnerships, and exploring strategic acquisitions.
We have a clear vision of where we want to be and how to achieve it. In 2025, we will place significant emphasis on articulating our strategy to both existing shareholders and potential investors. Transparency and communication remain core priorities as we drive our business forward and solidify our reputation as a leader in the industry.”
