Mr Green reveals mixed results for third quarter

Mr Green has reported a year-on-year rise in revenue during the three months to September 30, despite suffering losses elsewhere.

Revenue in the third quarter stood at SEK229.9 million (€23.2 million/$25.4 million), up from SEK201.6 million in the same period last year, with the operator citing a boarded product range, growing number of customers and a stronger market position outside the Nordic region as the main reasons behind this increase.

However, earnings before interest, tax, depreciation and amortisation (EBITDA) before non-recurring items amounted to SEK17.4 million, down from SEK40.8 million last year, with a lower margin of 7.6%, compared to 20.2% in Q3 of 2015.

Mr Green put these losses down to higher local betting duties and increased marketing costs.

Meanwhile, the total number of active customers with Mr Green increased by 39%, with deposits also up 21%.

The third quarter results place Mr Green’s total revenue for the year-to-date at SEK659.6 million, 11.5% more than at the end of September last year.

EBITDA before non-recurring items for the nine months is down from SEK107.7 million to SEK59.5 million, with a significantly lower margin of 9%, although earnings per share before and after dilution are up from a loss of SEK1.43 to a positive figure of SEK0.53.

Related article: Mr Green reveals revenue growth in first half