STS Holding reported revenue of PLN152.8m (PS29.2m/EUR33.6m/$36.4m) for the first quarter of the year, an increase of 7.4% yearly.
Mateusz Juroszek said the quarter was successful, even compared with STS Holding’s Q1 2022 record results.
Juroszek said, “In Q1 of 2023 we achieved excellent operating and financial results.” “Key operational indicators have improved since Q1 2022. That was a record-breaking period for the company.”
The last quarter of STS S.A. was a record-breaking one in terms of profit and net income, despite the high base of Q1 2022.
Online betting generated PLN126.6m of the total revenue. Total PN79.815 was attributable to values that were not assigned to segments.
Full quarter results
STS Holdings’ operating expenses for Q1 2022 were PLN83.1m. This is a 4.3% increase.
Retail segment accounted for PLN23.2m, while online betting generated PLN58.3m. The remaining PLN1.4m was made up of values not allocated to segments.
Personnel expenses accounted for the largest amount of expenses at PLN25.5m. Marketing costs totaled PLN18.4m while the cost to organise bookmaking services amounted to PLN13.3m.
The remainder was composed of numerous costs including administrative costs, property costs and transport costs.
The total cost of other operating expenses was PLN 422.7m.
The operating profit for the third quarter was PLN70.3m. After financial revenues of PLN3.1m and financial expenses of PLN2.1m the pre-tax profits for the year were PLN71.3m. This represents an increase by 11.5%.
After income tax of 15.0m PLN, the net profit of the quarter was 56.2m PLN, an increase of 11.5%.
STS Holding saw a growth of 11.5% in the amount wagered by players during the third quarter.
