Angler Gaming plc - Interim Q4 and Year-End 2024 Report

Q4 2024: Revenues decreased 3.68% and EBIT increased 43.05%.  Full 2024: Revenues increased 3.03% and EBIT increased 37.71%.  The Board proposes distribution of a dividend

Key Facts for the 4^th Quarter 2024 (1^st October 2024 – 31^st December 2024)

Revenues decreased 3.68% and EBIT increased 43.05%

All figures are compared to the same quarter last year if not explicitly stated otherwise.

• Revenues decreased by 3.68% to €9,360,652 (€9,718,395).
• EBIT increased by 43.05% to €1,172,949 (€819.948).
• EBIT margin of 12.53% (8.44%).
• Net profit decreased by 41.09% to €132.838 (€225.489).
• Earnings per share of €0.0018 (€0.0030).

• €359,019 was recorded as an extraordinary event in the quarter due to a one-off cost for implementing an updated accounting model for jackpot contribution in Premier Gaming Ltd.

• The available cashflow from operations at the end of Q4 2024 was €1,379,955 (€1,154,466). 

• PremierGaming Ltd, the Group’s B2C subsidiary licensed in Malta and Sweden focusing on Northern Europe, represented 4.17% of the Group’s revenues in Q4 2024.

Trading update Q1 2025

The trading update is an indication of how the first quarter 2025 has started, however it is not a revenue forecast for the quarter.

The average daily revenue in the first quarter 2025 up until and including 15^th of February was 1% higher than the average daily revenue of the full first quarter 2024 and 16% higher than the average daily revenue of the full fourth quarter 2024.

Events during Q4 2024

• The repayment of the short-term unsecured borrowing of €1,000,000, the Group’s only loan has continued in the quarter and after and the remaining balance at the date of this report is €100,000 (€250,000 at the date of the Q3 2024 report).

• As previously communicated, Thomas Kalita, CEO of Angler Gaming plc, has bought shares for 2,045,366 SEK in Angler Gaming plc following the Q3 2024 report of the Company. 475,868 shares have been purchased at the weighted average price of 4.31 SEK per share. After this purchase Thomas Kalita holds, through a company he controls, 6,475,868 shares in Angler Gaming plc, representing 8.64% of the issued share capital of the Company.

• The B2B business showed stable revenues, with strong end user activity in the quarter which is a key indicator for future growth.

• The marketing investment in Premier Gaming Ltd for the Swedish brands ProntoCasino.se and ProntoSport.se continued in the quarter and the number of active customers and customer lifetime continue to increase, although the value per end user is still relatively low.

• Marlin Media Ltd – the Group’s refocused affiliate marketing company started its venture in Q2 2024. The goal is to continue developing exceptional and innovative customer-facing products and brands, targeting a significant market segment within the iGaming sector (B2B). The objective is to break even within two years counting from end of Q2 2024. Quarter-over-quarter performance metrics demonstrate growth in the organic search presence, with click-through traffic increasing by 241% and search impressions rising by 120% across all properties.

Events after Q4 2024

• The Board of Directors proposes distribution to shareholders of €1,000,000 by way of dividend for the fiscal year 2024 (no dividend was distributed for the fiscal year 2023), which corresponds to €0.013 per share.  Angler Gaming plc will not compensate for currency exchange cost.

• The Group’s work with the Turn-Around project in 2023 and 2024 is formally over and considered a success. As a result of the Turn-Around project the Group, in addition to a profitable operation, has a highly competitive technical propriety I-Gaming platform ready for an increase in B2B-business at low marginal cost.

• Marlin Media migrated to a new content management system, fully integrated with its proprietary database platform, that enables growth at low marginal cost. In addition, Marlin Media implemented reliable state of the art AI technology to further streamline the operations and enhance the end-user experience.

Key Facts for 1^st January 2024 – 31^st December 2024

Revenues increased 3.03% and EBIT increased 37.71%

All figures are compared to the prior year if not explicitly stated otherwise.

• Revenues increased by 3.03% to €40,111,114 (€38,931,855).
• EBIT increased by 37.71% to €5,668,299 (€4,116,127).
• EBIT margin of 14.13% (10.57%).
• Net profit increased by 11.03% to €2,376,225 (€2,140,153).
• Earnings per share of €0.0317 (€0.0285).

Thomas Kalita, CEO, comments: 'We are proud that all our hard work in 2024 has resulted in the Board of Directors proposing €1,000,000 in dividends for the fiscal year 2024. For the fiscal years 2018-2022 Angler Gaming’s shareholders have received €27,346,200 in dividends – and after two years without dividend it feels very satisfying to be back on track. A big thank you to all my co-workers for your excellent work!

2024 started strong both as regards revenues and EBIT comparing with 2023. In the second half of 2024 the revenues slowed down although the EBIT levels remained solid. The turned-around project that has been completed in 2024 focused mainly on improving the Gorup’s propriety I-Gaming platform used successfully by both the Group’s B2B and B2C business, improving the Group’s competence and general cost cutting. Going forward the focus in on getting back to growing the revenues and at the same time improving the profit margin. This work already started in Q4 with more resources allocated to B2B sales and business support, cutting cost further and more granularly, such as reducing non-profitable CRM related cost, and implementing ever more stringently data driven resource allocation.

Although not reflected fully in the Q4 revenues, the underlying KPIs on the I-Gaming platform are strong with Active Customers on the technical I-Gaming platform growing from 51,419 in Q4 2023 to 58,314 in Q4 2024 and New Depositing Customers growing from 14,428 to 16,401 comparing the same period. In the trading update we are pleased to see that the average daily revenue in the first quarter 2025 up until and including 15th of February was 16% higher than the average daily revenue of the full fourth quarter 2024.

When it comes to Marlin Media Ltd, the Group’s refocused affiliate marketing company, we are very pleased that the quarter-over-quarter performance metrics demonstrate very strong growth in the organic search presence, with click-through traffic increasing by 241% and search impressions rising by 120%.

The whole team of Angler Gaming plc is committed to further improving and optimising the group performance and growing the shareholder value.'