Enlabs: Interim report January – September 2020

Third quarter: 1 July – 30 September 2020

• Revenues totalled EUR 13,6 million (10,0), a 35% increase.
• Organic growth amounted to 10%.
• Sustainable revenues totalled 80%.
• Total active customers were 67,320 (37,536), an increase of 79%.
• Deposits totalled EUR 45.9 million (29.9), a 54% increase.
• Gaming margin was 4.2% (4.7).
• EBITDA was EUR 4.03 million (3.11), EBITDA margin was 29.7% (31.0).
• EBIT was EUR 3.23 million (2.57), EBIT margin was 23.8% (25.6).
• Net profit totalled EUR 10.29 million (2.57), net profit margin was 75.8% (25.6).
• EPS increase of 281% to EUR 0.155 per share (0.041).

9-month period: 1 January – 30 September 2020

• Revenues totalled EUR 30.2 million (28.4), a 9% increase.
• Sustainable revenues amounted to 86%.
• Total active customers were 92,883 (58,909), a 58% increase.
• Deposits totalled EUR 99.3 million (84.28), a 18% increase.
• Gaming margin was 4.2% (4.7).
• EBITDA totalled EUR 7.26 million (8.41), EBITDA margin was 24.1% (29.6).
• EBIT was EUR 5.16 million (6.89), EBIT margin was 17.1% (24.2).
• Net profit totalled EUR 12.94 million (6.90), net profit margin was 42.9% (24.3).
• EPS increased 83% to EUR 0.201 per share (0.110).

Events during the period

• Compulsory bid on Global Gaming.
• Migration of Optibet Latvia to EnPL.
• Acquisition of Shogun Group.
• Ukraine adopted new gaming law.
• Launched virtual sports vertical.
• Launched new casino content from Oryx and Leander.

Events after the period

• Completed the mandatory offer at Global Gaming, reached 95,8% holding.
• Established legal structure for license application in Ukraine.
• Launched new casino content from Blueprint, Yggdrasil and Stakelogic.
• October gaming revenue growth of 86% (organically 17%).

“The Enlabs team is as busy as ever. For the quarter, we steered our core business towards an all-time-high result, finalized the largest strategic acquisition in the group’s history, and made a technological leap by successfully migrating our largest brand to the company’s new gaming platform. Joint effort resulted in a truly transformational quarter. In Q3, Enlabs recorded EUR 13.6 million in revenue, EUR 4.0 million EBITDA and EUR 10.3 million net profit.

Strong business momentum has carried over to Q4 with average daily gaming revenues in October up by 86% (organically 17%) compared to average daily gaming revenue in Q4 2019. We are keeping strong!” Says CEO and Group president George Ustinov.