SBC News Voice of the Sports Betting Industry
Rounding off its first year as a Warsaw Stock Exchange (WSE) business, Polish and CEE betting operator STS Group SA reports 16% year-on-year revenue Increase and 29% boost in net profit,
Maintaining its dominant Polish market share and CEE pole positions, STS reported a consolidated revenue of PLN 579m for 2022, marking a 16% increase from PLN 498m in 2021. The net profit attributable to parent company shareholders rose by 29% year-on-year, reaching PLN 169m in 2022 compared to PLN 131m the previous year.
Adjusted EBITDA for 2022 experienced a 26% increase, totaling PLN 273m, while the adj. EBITDA margin rose by three percentage points to 41.2% compared to 38.2% in 2021. For Q4 2022 alone, the group reported a revenue of PLN 167m, a 43% year-on-year increase, and a consolidated net profit of PLN 58m, a 290% increase.
Mateusz Juroszek, President of the Management Board of STS Holding, commented on the impressive year, stating: “We generated the highest operating results in the Group’s history, which translated into extremely satisfactory financial results.”
He added that a decision regarding dividend payments would be made soon, with 100% of STS Holding S.A.’s profit paid to shareholders.
During 2022, the group achieved a 17% year-on-year increase in Net Gaming Revenue (NGR), amounting to PLN 663m compared to PLN 565m in 2021. The value of stakes placed by customers reached PLN 4.679bn, and the number of active users increased to 783,000 from 693,000 in 2021.
The group recorded 439,000 new registrations and 317,000 customers making their first deposit, both historic highs.
Q4 2022 alone saw the highest NGR in the group’s history, totalling PLN 200m, a significant increase from PLN 136m in 2021. The value of stakes placed by customers reached PLN 1.38bn, with active customers rising to 542,000 from 386,000 in Q4 2021.
The STS Group plans to focus on increasing profitability and harnessing the potential of Poland’s dynamic market in 2023. The company has restructured its operations, ceasing activities in the UK and Estonia to concentrate on strengthening its Polish home market presence.
“The operating results achieved by STS in 2022 indicate the extremely high attractiveness of the Polish market. The company intends to concentrate its activities in order to be able to use the development potential in the country.”
Mateusz Juroszek, outlined on upcoming 2023 directives: “The plan for the current year is to focus on a number of efficiencies. We focus on Poland to increase profitability and fully exploit the potential of the dynamic market. We implement savings and improve our product. We assume that turnover, NGR, as well as EBITDA, will be higher this year than last year.”
