“The quarter began with very low activity as most sports and leagues globally had breaks related to the ongoing COVID-19 pandemic. However, we quickly managed to complete our esport offering and launch parts of it in mid-April. In mid-May, the German Bundesliga games resumed and from that moment on we experienced a rapid recovery which in June resulted in record activity. We have had an accelerating underlying growth throughout the second half of the quarter and are pleased that we were able to demonstrate this so quickly after the restart of European sports.
Scout Gaming’s operator index for the quarter was 1074, a growth of 56%. The total revenue base grew, despite extremely limited activity during the first half of the quarter, by 58% to SEK 6.3 million. We have previously stated that we did not see any long-term business-related risks with the pandemic for us as a company and are happy to be even more strengthened in that belief.
Activity in July and the first half of August continues to be high and we see very good opportunities for strong future growth.”
Extract from CEO Andreas Ternström’s commentary to the Interim Report.
Second quarter: April – June 2020
• Revenues increased to SEKm 6.3 (4.0), corresponding to a growth of 58% compared to same quarter last year
• EBITDA improved to SEKm -10.0 (-12.1)
• Net result was SEKm -17.5 (-13.3)
• Earnings per share amounted to SEK -1.0 (-1.0)
• Operator trading index (which illustrates the underlying client activity) increased to 1074 (687), a growth of 56%.
• Scout Gaming launched Esport-related markets for its entire range of products, launched initially on its own operator Fanteam.com and since mid-April available on external partners.
• Scout Gaming signed an agreement with GLHF.gg, a platform that strengthens the bond between professional sports teams and their fans.
Interim period: January-June
• Revenues amounted to SEKm 14.9 (7.6).
• EBITDA amounted to SEKm -21.8 (-26.7)
• Net result amounted to SEKm -27.3 (-29.4)
• Earnings per share amounted to SEK -1.7 (-2.2)
Events after the period ended
• Scout Gaming completed a heavily oversubscribed directed share issue towards international institutional investors amounting to SEKm 75, to enable an accelerated growth and product development.
• For the third consecutive year, Scout Gaming won EGR Award “Fantasy Sports Supplier of the year”.
• Scout Gaming launched 1 million Euro Fantasy Premier League Season Game.
• The company widened and extended the current agreement with Kaizen Gaming (Stoiximan and Betano).
• Scout Gaming signed an agreement with the market leading operator in the CIS region, Parimatch.
The full report is attached and available on:
https://www.scoutgaminggroup.com/investor-relations/financial-reports
For additional information, please contact:
Andreas Ternström, CEO
Tel: +46 706 770 660
E-mail: andreas.ternstrom@scoutgaminggroup.com
Billy Degerfeldt, CFO & Investor Relations
Tel: +46 707 581 668
E-mail: billy.degerfeldt@scoutgaminggroup.com
About Scout Gaming Group
Scout Gaming Group is a licensed and regulated provider of Daily Fantasy Sports. The company offers a flexible and customizable network based Fantasy Sports solution with support for most sports and leagues. The Group is headquartered in Stockholm, Sweden with development and operations in Bergen, Norway and Lviv, Ukraine. Sales, support and product management is handled from the office in Malta. Scout Gaming is listed on Nasdaq First North Growth Market and the Certified Adviser is Redeye AB. Contact details: Certifiedadviser@redeye.se, +46 (0)8 121 576 90.