Super Group (SGHC) Limited (NYSE: SGHC), the parent company of online betting and gaming brands Betway and Spin, has announced its unaudited financial results for the fourth quarter and full-year 2024. The company reported significant year-over-year growth, with total revenue reaching approximately €1.7 billion for the year and €500 million for the quarter, marking the highest Q4 revenue in its history.
Super Group’s fourth-quarter revenue increased by 39% compared to the same period in 2023, with strong performance across its core markets. Profit before tax for the quarter was €96.8 million, a substantial turnaround from a loss of €44.9 million in the prior-year period, which was affected by non-cash impairment charges.
For the full year, profit before tax reached €188.8 million, compared to €16.8 million in 2023. Adjusted EBITDA for 2024 stood at €330.3 million, up from €198.2 million in the previous year, with Adjusted EBITDA ex-US exceeding guidance at €391.1 million.
The company also reported a 20% increase in Monthly Average Customers, reaching 4.8 million for the year. Unrestricted cash stood at €355.8 million as of December 31, 2024, reflecting a strong liquidity position.
Super Group completed the sale of its B2B division, Digital Gaming Corporation (DGC), in February 2024, contributing a €40.1 million gain to its full-year results. The company also reduced its non-cash charges related to the DGC unit compared to 2023.
As part of its commitment to shareholder returns, Super Group increased its minimum quarterly dividend target to 4.0 cents per share, up from 2.5 cents.
Super Group has provided optimistic guidance for 2025, forecasting double-digit growth in total revenue and Adjusted EBITDA. The company expects revenue to exceed €1.83 billion ex-US, with Adjusted EBITDA projected to surpass €435 million. Including its US operations, Super Group anticipates total revenue above €1.915 billion and Adjusted EBITDA exceeding €400 million.
With a growing customer base, strengthened financial position, and a focus on operational efficiency, Super Group aims to build on its momentum in the global igaming sector throughout 2025.
Neal Menashe, Chief Executive Officer of Super Group, commented: “The 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’m 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’s success, and we look forward to another year of solid growth.”
Alinda van Wyk, Chief Financial Officer of Super Group, stated: “We achieved our best results to date, delivering full year ex-US revenue of €1.663 billion and ex-US Adjusted EBITDA of €391 million. In the US, our total investment for the year came in at €61 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 €487 million and Adjusted EBITDA of €129 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.”
