STS Group, among the largest bookmakers in Central Europe and a market leader in Poland, told investors that it has managed to overcome challenging trading conditions in H1, 2022, thanks to what it described as its ‘competitive advantages’ in the marketplace.
The biggest bookmaker in Poland, in terms of turnover, generated consolidated revenue of PLN 263m, with adjusted EBITDA coming in at PLN 117m. The group’s net profit from January to June, meanwhile, amounted to PLN 62m. Net profit for the period was PLN 83m
Turning to net gaming revenue in the six-month period, the firm generated PLN 296m compared to PLN 295m in H1 2021. However, the value of bets in H1 2022 saw a fall to PLN 2.189bn from PLN 2.222bn in the corresponding 2021 period
STS did note, though, that in H1 2021, the European Championship was held, and this year’s World Cup tournament will only start in Q4 2022.
Addressing investors, CEO Mateusz Juroszek stated: “In the first six months of 2022 we generated fully satisfactory financial and operating results. Meanwhile, we increased our revenue and NGR year-on-year, despite the high base.
“Moreover, since February, we have been dealing with increasing inflation, the weakening activity of the Polish economy and the war in Ukraine. The unfavourable macroeconomic situation has changed the sentiment in the Polish economy.
“However, the STS Group, thanks to its competitive advantages, generates satisfactory operational indicators. In July and August this year, it generated NGR at the level of PLN 103m, which is a result 32% higher than in July and August 2021.”
Juroszek went on to point out that there will be an increase in acquisitions and greater player activity in Q4 of this “because of the calendar of sports competitions, including the World Cup in Qatar, in which our national team will participate”.
The group looks to be in good health, reporting no external debts or bank obligations, and granted credit lines have not been disbursed, it said. As on June 30 this year, it had a total of PLN 238m of reserve capital, including PLN 198m of financial resources and their equivalents and PLN 40m of unused credit lines.