STS Group has shared details of a favorable start to trading in 2023, allowing them to strengthen their positions as the leading betting group in Poland.
STS Group provided an update for the first quarter, noting that the group’s revenue was PLN 153 million (EUR 34 million), which is 7% higher than the corresponding results in 2022, when revenue was PLN 142 million (EUR 31 million).
The increase in revenue was driven by first-quarter betting volume of PLN 1.19 billion (€246.6 million) as STS betting opportunities surpassed 2022 results of PLN 1 billion (€220.3 million) despite their exit from the UK and Estonia.
Group’s adjusted EBITDA in the first quarter increased to PLN 80 million (EUR 17.5 million), up 12% compared to the previous figure of PLN 72 million (EUR 15.5 million) in 2022. This equates to a sustainable margin of 45.7%.
STS Group strengthened its positions in the Polish market and achieved a 20% increase in net profits in the first quarter, reaching the mark of PLN 54 million (EUR 11.7 million). This contributed to the group’s main operating company, STS S.A., which posted a profit of PLN 70m (€15m) over the period.
Group CEO, Mateusz Juroszek, highlighted this quarter’s success, saying: «In Q1 2023, we achieved positive operating and financial results. Key operational indicators improved compared to Q1 2022, which was a record period in the company’s history prior to this year. In terms of net profit, the Q1’23 was record-breaking in the history of STS SA.»
STS Group has made a strategic decision to terminate operations in the UK and Estonia, focusing on the full potential of the Polish market, which is the most significant sector for the group. As part of this strategy, the group operates 400 betting shops and employs more than 1,200 employees.
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