Sportnco drives strong growth for France Pari group in Q1, company targets €5m EBITDA in 2019
Toulouse, France – 10 May 2019
- EBITDA growing 18% YoY to €1m in Q1 2019
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; while group revenues grew 13% year-on-year from €3.1m in 2018 to €3.5m in the first quarter of 2019.
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.
- Group is confident of achieving €5m EBITDA in 2019
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.
- Paving the way for new acquisitions
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.”
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About France Pari-Sportnco:
FRANCE PARI is an online sports betting operator in France and Spain and through its SPORTNCO B2B division is a leading and fast-growing betting solutions provider to operators in regulated markets worldwide. The group is based in Toulouse, France and has offices in Lyon and Barcelona. It is the leading B2B betting solutions provider in the French regulated market with clients such as NetBet and ZEBet and in Spain with clients such as GoldenPark, Casino Gran Madrid, Suertia and Grup Peralada.