LeoVegas AB: Preliminary results for the second quarter 2018 higher than expected

The LeoVegas Group (" LeoVegas ") EBITDA for the second quarter of 2018 amounts to approximately EUR 15 million (approximately 17% EBITDA margin), which is higher than the company's internal expectations. The reason for communicating the preliminary result early is that LeoVegas' marketing...

London, 18/07/2018 (informazione.news - comunicati stampa - turismo)

The LeoVegas Group (" ") EBITDA for the second quarter of 2018 amounts to approximately EUR 15 million (approximately 17% EBITDA margin), which is higher than the company's internal expectations. The reason for communicating the preliminary result early is that LeoVegas' marketing costs in relation to revenue are approximately 35%. This is significantly lower than what was communicated by the company in the quarterly report for the first quarter, where it was expected that marketing costs in relation to revenue would exceed 42% in the second quarter. Revenue for the second quarter amounts to approximately EUR 87 million.

comments Gustaf Hagman, CEO of LeoVegas Mobile Gaming Group.

In the quarterly report for the first quarter is was communicated that:

Preliminary figures for the second quarter of 2018
Work on the quarterly report for the second quarter is ongoing and the figures presented below are only preliminary. Marketing costs are expected to amount to approximately EUR 30 million and revenues are expected to amount to approximately EUR 87 million. Marketing costs in relation to the Company's revenues are expected to amount to approximately 35%. This has a material effect on the Company's EBITDA, which is expected to amount to approximately EUR 15 million with an EBITDA margin of about 17%.

LeoVegas' quarterly report for the second quarter of 2018 will be published on August 1st. In addition to what is stated herein, the company will not comment on the results before the quarterly report for the second quarter is published. In connection with the presentation the same day at 9:00 CET there will be the opportunity to ask questions. The webcast is available at:https://edge.mediaserver.com/m6/p/zupwii5n

Gustaf Hagman, Group CEO: +46 (0) 8 410 367 66, gustaf.hagman@leovegas.com
Viktor Fritzén, Group CFO: +46 73 612 22 67, viktor.fritzen@leovegas.com 
Philip Doftvik, Head of Investor Relations and Corporate Finance: +46 73 512 07 20, philip.doftvik@leovegas.com

www.leovegasgroup.com