Veltyco Group PLC (LON:VLYT), the AIM quoted marketing company for the gaming sector, has today announced its final results for the year ended 31 December 2017.
Financial highlights
· Revenue for the year increased 165% to €16.2 million (2016: €6.1 million)
· Operating EBITDA for the year increased 260% to €8.1 million (2016: €2.2 million)1
· Raised €2.55 million before expenses during the period to fund the acquisitions of T4U Marketing Ltd (“T4U”) and Bet90 in April 2017
· Proposing to pay a maiden dividend for the year ended 31 December 2017 amounting to 0.25p per share
Operational highlights
· Completed the acquisitions of 51% interests in each of T4U and Quasar Holdings Ltd (running the Bet90 operations)
· Launched Bet90 in July 2017 and achieved significant growth in revenues; the Board expects Bet90 to be a key driver of further growth in 2018
· Achieved growth in all three major verticals the Group operates in
Post year end
· Acquired a 51% interest in Varkasso Limited, a software platform providing crypto wallet solutions based on blockchain technology
· Completed acquisition of a database of active users in the online financial trading sector, ahead of the Group’s intended launch of a regulated brand later in 2018
· Extended existing partnership with eSports.com
Current trading
· Momentum from 2017 has continued into 2018, with revenues of approximately €4.8 million in the first quarter of 2018 – growth of 60% year on year
· As at 28 May 2018, the Company had cash of €1.6 million compared to €0.7 million as at 31 December 2017
Gilles Ohana, Chairman, commented: “We are delighted with the progress achieved at Veltyco throughout 2017, which has delivered a very strong trading performance and enabled us to propose a maiden dividend.
We have enjoyed a positive start to 2018 with revenues in the first quarter showing significant growth when compared to the corresponding period in 2017. Looking ahead, we see continued growth in 2018, both from our marketing activities, including the potential to expand our current sportsbook marketing activities into new territories, and our own brands, in particular Bet90, which is expected to be a key driver of this growth.”
