- \n
- \nRevenue of approximately \u20ac1.7 billion; includes highest ever total revenue for a fourth quarter of approximately \u20ac500.0 million<\/p>\n<\/li>\n
- \nProfit before tax for the year of \u20ac188.8 million and \u20ac96.8 million for the fourth quarter<\/p>\n<\/li>\n
- \nNon-GAAP Adjusted EBITDA ex-US of \u20ac391.1 million for the year exceeded guidance and \u20ac128.8 million for the fourth quarter<\/p>\n<\/li>\n
- \nUnrestricted cash of \u20ac355.8 million as of December 31, 2024<\/p>\n<\/li>\n
- \nMinimum quarterly dividend target raised to 4.0 cents per share up from 2.5 cents<\/p>\n<\/li>\n<\/ul>\n
NEW YORK–(BUSINESS WIRE<\/a>)–
\nSuper Group (SGHC) Limited (NYSE: SGHC) (\u201cSGHC\u201d or \u201cSuper Group\u201d), the parent company of Betway, a leading online sports betting and gaming business, and Spin, the multi-brand online casino, today announced fourth quarter 2024 and full year 2024 unaudited consolidated financial results.<\/p>\n\nNeal Menashe, Chief Executive Officer of Super Group, commented: \u201cThe company made phenomenal progress in 2024, and we are proud of our strong finish to the year and the record-setting performance across the business. In December, we declared a special dividend, bringing our total 2024 shareholder returns to over $125 million, and going forward, I\u2019m pleased to announce that we plan to increase our minimum quarterly dividend target to 4.0 cents per share up from 2.5 cents, in line with our commitment to continue returning excess cash to our shareholders. As we begin 2025, we are deeply focused on our key growth markets, offering a highly bespoke and localized product, maintaining a lean cost base and having a significant marketing budget ready for the right investment opportunities. We believe that Super Group is in an excellent position to build on last year\u2019s success, and we look forward to another year of solid growth.\u201d<\/p>\n
\nAlinda van Wyk, Chief Financial Officer of Super Group, stated: \u201cWe achieved our best results to date, delivering full year ex-US revenue of \u20ac1.663 billion and ex-US Adjusted EBITDA of \u20ac391 million. In the US, our total investment for the year came in at \u20ac61 million, which we expect to reduce considerably in 2025 given our exclusive focus on iGaming. In the fourth quarter, we saw the benefit that operating leverage is having on our financial results, delivering our best ever ex-US quarterly results with Total Revenue of \u20ac487 million and Adjusted EBITDA of \u20ac129 million, a considerable margin of 26%. We are pleased to see continued momentum into 2025 and anticipate another year of double-digit growth across both Total Revenue and Adjusted EBITDA.\u201d<\/p>\n
Dividend Announcement<\/b><\/p>\n
\nThe Group is delighted to confirm that annual dividend program targets will be increased from 10.0 cents to a minimum of 16.0 cents cash per share in 2025, with payments made on a quarterly basis, subject to approval of Super Group\u2019s Board of Directors, in its discretion, and subject to other potentially advantageous uses of funds. In line with this new target, Super Group’s Board of Directors has declared the first dividend of 4.0 cents per share payable on March 28, 2025 to shareholders of record as of the close of business on March 10, 2025.<\/p>\n
Quarterly Financial Highlights (Unaudited)<\/b><\/p>\n
- \n
- Revenue<\/b> increased by 39% to \u20ac500.0 million for the fourth quarter of 2024 from \u20ac359.9 million in 2023 (constant currency increase 39%).\n<\/li>\n<\/ul>\n
- \n
- Profit before tax<\/b> for the fourth quarter of 2024 was \u20ac96.8 million compared to a loss before tax of \u20ac44.9 million in 2023. The loss for the fourth quarter of 2023 was mainly affected by non-cash charges of \u20ac35.9 million relating to the impairment of the Digital Gaming Corporation Limited (\u201cDGC\u201d) cash generating unit, as well as \u20ac6.1 million relating to an increase in the fair value of a liability for a call option granted to a third-party to purchase the B2B division of DGC, which was exercised in the first quarter of 2024.\n<\/li>\n<\/ul>\n
- \n
- Adjusted EBITDA<\/b>, a non-GAAP financial measure, was \u20ac118.1 million in the fourth quarter of 2024 compared to \u20ac33.6 million in 2023.\n<\/li>\n<\/ul>\n
- \n
- Monthly Average Customers<\/b> for the fourth quarter of 2024 were 5.3 million compared to 4.7 million in 2023, a 12% increase.\n<\/li>\n<\/ul>\n
Full Year<\/b>Financial Highlights (Unaudited)<\/b><\/p>\n
- \n
- Revenue<\/b> increased by 18% to approximately \u20ac1.7 billion for 2024 from \u20ac1.4 billion in 2023 (constant currency increase 21%).\n<\/li>\n<\/ul>\n
- \n
- Profit before tax<\/b> was \u20ac188.8 million for 2024 compared to \u20ac16.8 million in 2023. The profit in 2024 includes non-cash charges of \u20ac13.0 million (2023: \u20ac28.6 million) relating to an increase in the fair value of a liability for a call option granted to a third-party to purchase the B2B division of DGC as well as a gain of \u20ac40.1 million relating to the sale of the division in February 2024. Additionally included in 2024 is a non-cash charge of \u20ac36.8 million (2023: \u20ac35.9 million) relating to the impairment of the DGC cash generating unit.\n<\/li>\n<\/ul>\n
- \n
- Adjusted EBITDA<\/b>, a non-GAAP financial measure, was \u20ac330.3 million for 2024 compared to \u20ac198.2 million in 2023. The measure for 2024 comprised Adjusted EBITDA ex-US of \u20ac391.1 million and an Adjusted EBITDA loss of \u20ac60.8 million in the US.\n<\/li>\n<\/ul>\n
- \n
- Monthly Average Customers<\/b> for 2024 were 4.8 million compared to 4.0 million in 2023, a 20% increase.\n<\/li>\n<\/ul>\n
- \n
- Unrestricted cash<\/b> was \u20ac355.8 million as of December 31, 2024 compared to \u20ac241.9 million at the end of 2023.\n<\/li>\n<\/ul>\n
Guidance 2025<\/b><\/p>\n
\nSuper Group projects double-digit growth across both Total Revenue and Adjusted EBITDA.<\/p>\n
- \n
- \nEx-US guidance projections:<\/p>\n
- \n
- \nTotal Revenue: >\u20ac1.830 billion<\/p>\n<\/li>\n
- \nAdjusted EBITDA: >\u20ac435 million<\/p>\n<\/li>\n<\/ul>\n<\/li>\n
- \nUS guidance projections:<\/p>\n
- \n
- \nTotal Revenue: ~\u20ac85 million<\/p>\n<\/li>\n
- \nAdjusted EBITDA: Between \u20ac(30) and \u20ac(35) million<\/p>\n<\/li>\n<\/ul>\n<\/li>\n
- \nCombined guidance projections:<\/p>\n
- \n
- \nTotal Revenue: >\u20ac1.915 billion<\/p>\n<\/li>\n
- \nAdjusted EBITDA: >\u20ac400 million<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
Preliminary Financial Results<\/b><\/p>\n
\nThe financial results included in this press release are preliminary, have not been audited and are subject to change upon completion of the audit of Super Group\u2019s financial statements for the year ended December 31, 2024. As a result, these preliminary results may be different from the actual results that will be reflected in Super Group\u2019s consolidated financial statements to be included as part of Super Group\u2019s Annual Report on Form 20-F for the year ended December 31, 2024 to be filed with the US Securities and Exchange Commission.<\/p>\n
Non-GAAP Financial Information<\/b><\/p>\n
\nThis press release includes non-GAAP financial information not presented in accordance with the International Financial Reporting Standards (\u201cIFRS\u201d) as issued by the International Accounting Standards Board.<\/p>\n
\nEBITDA, Adjusted EBITDA, Adjusted EBITDA ex-US, Adjusted EBITDA US and revenue on a constant currency basis are non-GAAP company-specific performance measures that Super Group uses to supplement the Company\u2019s results presented in accordance with IFRS. EBITDA is defined as profit before depreciation, amortization, finance income, finance expense and income tax expense. Adjusted EBITDA is EBITDA adjusted for RSU expense, change in fair value of options, unrealized foreign exchange, gain on disposal of business, impairment of assets, US sportsbook closure, market closure and other adjustments. Adjusted EBITDA ex-US is Adjusted EBITDA relating to the rest of the group, excluding Digital Gaming Corporation (\u201cDGC\u201d). Adjusted EBITDA US is Adjusted EBITDA relating to DGC. Constant currency revenue growth is calculated by translating non-Euro performance for 2023 and 2024 using 2023 exchange rates.<\/p>\n
\nSuper Group believes that these non-GAAP measures are useful in evaluating the Company\u2019s operating performance as they provide additional perspective on the financial performance of our core business, are similar to measures reported by the Company\u2019s public competitors and are regularly used by securities analysts, institutional investors and other interested parties in analyzing operating performance and prospects.<\/p>\n
\nManagement does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with IFRS. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses that are required by IFRS to be recorded in Super Group\u2019s financial statements. In order to compensate for these limitations, management presents non-GAAP financial measures together with IFRS results. Non-GAAP measures should be considered in addition to results and guidance prepared in accordance with IFRS, but should not be considered a substitute for, or superior to, IFRS results.<\/p>\n
\nReconciliation tables of the most comparable IFRS financial measure to the non-GAAP financial measures used in this press release, other than revenue on a constant currency basis, and supplemental materials are included below. Super Group urges investors to review the reconciliation and not to rely on any single financial measure to evaluate its business. In addition, other companies, including companies in our industry, may calculate similarly named non-GAAP measures differently than we do, which limits their usefulness in comparing our financial results with theirs.<\/p>\n
Reconciliation of Profit before taxation to EBITDA and Adjusted EBITDA<\/b><\/p>\n
for the Three Months and for the Year ended December 31, 2024, in <\/i><\/b>\u20ac \u2018000s<\/i>:<\/b><\/p>\n
- \nEx-US guidance projections:<\/p>\n
- Unrestricted cash<\/b> was \u20ac355.8 million as of December 31, 2024 compared to \u20ac241.9 million at the end of 2023.\n<\/li>\n<\/ul>\n
- Monthly Average Customers<\/b> for 2024 were 4.8 million compared to 4.0 million in 2023, a 20% increase.\n<\/li>\n<\/ul>\n
- Adjusted EBITDA<\/b>, a non-GAAP financial measure, was \u20ac330.3 million for 2024 compared to \u20ac198.2 million in 2023. The measure for 2024 comprised Adjusted EBITDA ex-US of \u20ac391.1 million and an Adjusted EBITDA loss of \u20ac60.8 million in the US.\n<\/li>\n<\/ul>\n
- Profit before tax<\/b> was \u20ac188.8 million for 2024 compared to \u20ac16.8 million in 2023. The profit in 2024 includes non-cash charges of \u20ac13.0 million (2023: \u20ac28.6 million) relating to an increase in the fair value of a liability for a call option granted to a third-party to purchase the B2B division of DGC as well as a gain of \u20ac40.1 million relating to the sale of the division in February 2024. Additionally included in 2024 is a non-cash charge of \u20ac36.8 million (2023: \u20ac35.9 million) relating to the impairment of the DGC cash generating unit.\n<\/li>\n<\/ul>\n
- Revenue<\/b> increased by 18% to approximately \u20ac1.7 billion for 2024 from \u20ac1.4 billion in 2023 (constant currency increase 21%).\n<\/li>\n<\/ul>\n
- Monthly Average Customers<\/b> for the fourth quarter of 2024 were 5.3 million compared to 4.7 million in 2023, a 12% increase.\n<\/li>\n<\/ul>\n
- Adjusted EBITDA<\/b>, a non-GAAP financial measure, was \u20ac118.1 million in the fourth quarter of 2024 compared to \u20ac33.6 million in 2023.\n<\/li>\n<\/ul>\n
- Profit before tax<\/b> for the fourth quarter of 2024 was \u20ac96.8 million compared to a loss before tax of \u20ac44.9 million in 2023. The loss for the fourth quarter of 2023 was mainly affected by non-cash charges of \u20ac35.9 million relating to the impairment of the Digital Gaming Corporation Limited (\u201cDGC\u201d) cash generating unit, as well as \u20ac6.1 million relating to an increase in the fair value of a liability for a call option granted to a third-party to purchase the B2B division of DGC, which was exercised in the first quarter of 2024.\n<\/li>\n<\/ul>\n
- Revenue<\/b> increased by 39% to \u20ac500.0 million for the fourth quarter of 2024 from \u20ac359.9 million in 2023 (constant currency increase 39%).\n<\/li>\n<\/ul>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20250225566012\/en\/2391076\/3\/SGHC_Logo.jpg\"){kind=logo}
<\/td>\n<\/tr>\n