Q1 2023: STS Group Records PLN 80M Adjusted EBITDA

STS Group, a leading bookmaker in Central Europe and dominant entity in Poland’s iGaming market, reported a revenue of PLN 153 million (£29.3 million/€33.7 million/US$36.3 million)  from January to March this year. This represents a 7% year-on-year increase. Over the same period, the Group’s net profit escalated by 20%, reaching PLN 54 million, with the net profit of its primary operating company, STS S.A., hitting PLN 70 million, an 18% year-on-year growth.

The Group’s adjusted EBITDA for the first quarter amounted to PLN 80 million, marking a 12% increase compared to the same period last year. Further, the adjusted EBITDA, excluding operations under British and Estonian licenses, surpassed PLN 82 million for the same period.

In Q1 2023, STS S.A. (excluding UK and Estonian operations), the main operating company in the STS Group, reported an increase in the total value staked by 16% year on year, reaching PLN 1.193 billion, compared to PLN 1.026 billion in Q1 2022. The Net Gaming Revenue (NGR) for STS (excluding UK and Estonian operations) rose by 12% year-on-year, from PLN 156 million to PLN 175 million. Additionally, the company registered a Gross Gaming Revenue (GGR) of PLN 305 million for the same period, a 9% year-on-year increase, excluding operations in the UK and Estonia.

The STS Group has discontinued operations in foreign markets, specifically the UK and Estonia, which entails the closure of account registrations. The reorganisation aims to maximise the potential of the Polish market, which remains a pivotal area for the STS Group’s operations. The encouraging operating results demonstrate the Polish market’s substantial appeal, and the Group is intent on concentrating its efforts to capitalize on the development potential within Poland.

“In Q1 2023, we achieved very good operating and financial results. Key operational indicators improved compared to Q1 2022, which was then a record period in the company’s history. Despite the high base from Q1 2022, we generated even better results and in terms of net profit, the last quarter was record-breaking in the history of STS S.A. We constantly record unflagging interest and high activity of our players. We expect this trend to continue until the end of the spring round of football leagues. In addition, in the autumn, after the return of domestic and international football competitions, the activity of players and their number should positively translate into the Group’s results,” says Mateusz Juroszek, CEO of STS Holding.

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