Super Group reports a 45% rise in company revenue during 2021
The annual report reflected substantial company growth during the fiscal year.
Super Group has published its 2021 year-end results. The company reported more than $1.43bn in revenue during the past fiscal year, a 45% increase from the previous year.
Profits also rose during 2021, with a total of $255.4m compared to profits in 2020. The company also noted a spike in its customer base. On a monthly average, customers rose in 2021 by 75% to 2.62 million compared to 2020.
Adjusted EBITDA reached $313.5m, reflecting a 60% boost year-over-year.
Super Group CFO Alinda van Wyk said: “It has been another tremendous year for Super Group, thanks to continued organic growth of the business and our ongoing expansion into new markets around the world. Despite regulatory tightening in some European markets, we exceeded our forecasts for both Revenue and Adjusted EBITDA. In addition, Super Group had another year of strong cashflow generation, which saw cash and cash equivalent balances more than double during 2021.
“We are proud of all of our teams across the globe and thank them for their efforts in delivering these results. This is a fantastic performance for Super Group’s first publicly reported year-end earnings.”
CEO of Super Group CEO Neal Menashe commented about other company highlights from 2021: “We are delighted to report strong growth and profitability in 2021, demonstrating the successful execution of our global growth strategy. We are, as ever, grateful to our dedicated global team that have delivered this outstanding financial performance. We listed on the New York Stock Exchange at the start of 2022, a major landmark for Super Group after two decades of leadership in more than 20 markets around the world.”
He went on to discuss the company’s growth through partnerships during the fiscal year.
“We expanded on our partnerships throughout the year and our portfolio now stands in excess of 70 active deals in 17 different countries,” Menashe said. “These include major sporting brands and teams, notably in the National Hockey League, the National Basketball Association and the Association of Tennis Professionals. With an eye on our growth and profitability profile, we couldn’t be more excited to execute on our plans in 2022 and beyond.”
Super Group is the parent company of Betway, a sports betting and gaming business, and of Spin, a multi-brand online casino. It is licensed in 25 jurisdictions and is represented in markets throughout Europe, the Americas and Africa. The company also works to provide a safe gambling environment to its clientele.
Betway is live in five states through the Digital Gaming Corporation (DGC), which has gained access to markets in seven additional states. Super Group expects that the DGC will join the company later this year, pending regulatory approval.
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