Q1 2025 SGHC Ltd Earnings Call Transcript
Key Points
- Super Group (SGHC) Ltd (SGHC) reported an all-time high first quarter total revenue of $517 million, growing 25% year over year.
- The company achieved a record first quarter adjusted EBITDA of $111 million, marking a 120% increase year over year with a combined margin of approximately 22%.
- Africa showed significant growth, with revenue increasing by 54% year over year, driven by strong performance in South Africa, Ghana, Malawi, and the successful launch in Botswana.
- The UK market demonstrated robust growth, with revenue up 87% due to strong performance from Jackpot City and Beway.
- Super Group (SGHC) Ltd (SGHC) maintains a strong balance sheet with $351 million in unrestricted cash and no debt, highlighting a solid financial position.
- APEC region faced challenges, ending down 13% year over year due to currency weakness and the closure of non-performing markets.
- The US iGaming business is still operating at a loss, with a $10 million loss reported in the first quarter of 2025, although this is an improvement from the previous quarter.
- New Zealand's growth is constrained by regulatory limits on marketing, impacting revenue performance.
- The company faces competitive pressure in the US market, particularly from well-known brands with land-based partnerships.
- Super Group (SGHC) Ltd (SGHC) is monitoring potential tax hikes in New Jersey, which could affect profitability in the US market.
Hello everyone, and thank you for joining the Supergroup first quarter 2025 earnings webcast and conference call. My name is Lucy, and I'll be coordinating your call today. (Operator Instructions)
I will now hand over to your host, Nkem Ojougboh, head of investor relations, to begin. Please go ahead.
Good morning everyone, and thank you for joining us today to discuss Supergroup's results for the first quarter of 2025.
During this call, supergroup may make comments of a forward-looking nature that subject to risk, uncertainties, and other factors discussed further in this SC violence that could cause the actual results to differ materially from historical results of the company's forecast.
Supergroup assumes no responsibility to the forward-looking statements other than is required by law.
On today's call, Supergroup may refer to certain non-gap financial measures. These non-gap financial measures are in addition to and not a substitute for measures of financial
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