FRANCE PARI’s B2B division Sportnco boosts group results in Q1 2019. Sportnco drives strong growth, group targets €5m EBITDA in 2019
Online bookmaker France-Pari and its B2B division Sportnco’s consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) rose 18% to €1m in the first quarter of 2019, up from €840,000 in the same period in 2018; Group revenues rose 13% to €3.5m and EBITDA 18% to €1m year-on-year during the period, Sportnco is confident of achieving EBITDA growth of just over 30% and revenue growth of c. 20% this year.
B2B activities driven by the group’s SPORTNCO division were the main driver of this growth, with most of the activity taking place across the European regulated markets of Spain, France and Belgium.
These very positive first quarter trends will soon be enhanced by the launch of bespoke sportsbooks for new clients such as SISAL in Spain or ZEBET in Portugal and the group is confident it will reach €4.5m to €5m in EBITDA in 2019. This would represent annual growth of up to 33% when compared to the €3.7m EBITDA achieved in 2018. Annual group revenues are also expected to grow strongly in 2019, with a 20% increase from €13m in 2018 to €15.5m this year. Thus, EBITDA will represent just over 30% of group consolidated revenues in 2019.
At the end of this year, the company will have reimbursed the biggest part of its debt relating to the SUERTIA acquisition it carried out in Spain in 2016. The Suertia brand has been highly successful and exceeded expectations and has enabled Sportnco to become the leading B2B betting network in Spain, bringing together GoldenPark, Suertia, Casino Gran Madrid and Casino Barcelona onto its platform.
As a result, the company is looking at potential new acquisitions to accelerate its growth in the B2B sector.
Hervé Schlosser, founder and CEO of FRANCE PARI Group, commented: "I am delighted at the progress we have made this year. Our B2B strategy in France and Spain is reaping rewards and we are now looking at acquiring profitable companies with whom we could develop commercial and financial synergies in order to accelerate our growth in B2B."