EX-99.1 2 courtesycomparativeusd20.htm EX-99.1 courtesycomparativeusd20
Change in presentati Effective January 1, 2025, the Company adopted the U.S. dollar (USD) as its presentation currency, replacing the Euro. The change is intended to enhance comparability with its U.S. listed peers and provide more relevant information to investors. The financial results for the years ended December 31, 2024 and December 31, 2023 presented herein in USD, on a basis consistent with the new reporting currency, have been translated from Euro to USD using the average rates for the period, as set out in the Appendix hereto. This supplemental financial information is being provided for informational purposes only and to aid in comparability, has no impact on previously reported consolidated financial statements for any period and does not represent a restatement of previously issued financial statements. The Company’s auditors have not audited, reviewed, compiled, or performed any procedures with respect to this supplemental financial information. May 21, 2025


 
Disclaimers Change in presentation currency Effective January 1, 2025, the Company adopted the U.S. dollar (USD) as its presentation currency, replacing the Euro. The change is intended to enhance comparability with its U.S. listed peers and provide more relevant information to investors. The financial results for the years ended December 31, 2024 and December 31, 2023 presented herein in USD, on a basis consistent with the new reporting currency, have been re-presented retrospectively as if the new presentation currency had always been the presentation currency. Items within the statement of Profit or Loss previously reported in Euros have been converted to USD from the functional currency of the respective subsidiaries within the Group using the average monthly foreign exchange rates at the date of the transaction. This courtesy supplemental financial information is being provided for informational purposes only and to aid in comparability, has no impact on previously reported consolidated financial statements for any period and does not represent a restatement or recasting of previously issued financial statements. The Company’s auditors have not audited, reviewed, compiled, or performed any procedures with respect to this supplemental financial information. Certain statements made herein are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward- looking statements, and Super Group assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Totals Totals throughout may not sum due to rounding. Forward-Looking Statements


 
Reconciliation tables of the most comparable IFRS financial measure to the non-GAAP financial measures used in this presentation, and supplemental materials are included below. Super Group urges investors to review the reconciliation and not to rely on any single financial measure to evaluate its business. In addition, other companies, including companies in our industry, may calculate similarly named non-GAAP measures differently than we do, which limits their usefulness in comparing our financial results with theirs. Non-GAAP Measures Non-GAAP Financial Information This presenation includes non-GAAP financial information not presented in accordance with the International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board. EBITDA and Adjusted EBITDA are non-GAAP company-specific performance measures that the Company uses to supplement the Company’s results presented in accordance with IFRS. EBITDA is defined as profit before depreciation, amortization, finance income, finance expense and income tax expense. Adjusted EBITDA is EBITDA adjusted for RSU expense, change in fair value of options, unrealized foreign exchange, gain on disposal of business and other adjustments. Super Group believes that these non-GAAP measures are useful in evaluating the Company’s operating performance as they provide additional perspective on the financial performance of our core business, are similar to measures reported by the Company’s public competitors and are regularly used by securities analysts, institutional investors and other interested parties in analyzing operating performance and prospects. Management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with IFRS. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses that are required by IFRS to be recorded in Super Group’s financial statements. In order to compensate for these limitations, management presents non-GAAP financial measures together with IFRS results. Non-GAAP measures should be considered in addition to results and guidance prepared in accordance with IFRS, but should not be considered a substitute for, or superior to, IFRS results.


 
$m 1Q23 2Q23 3Q23 4Q23 FY 2023 1Q24 2Q24 3Q24 4Q24 FY 2024 Revenue 363 415 388 388 1,555 412 447 443 533 1,835 Direct and marketing expenses (296) (302) (295) (337) (1,231) (330) (322) (352) (370) (1,374) General and administrative expenses (39) (41) (42) (38) (160) (43) (42) (46) (45) (175) Other operating Income 1 1 0 4 7 4 1 0 2 7 Gain on disposal of business - - - - - 44 - - - 44 Depreciation and amortization expense (23) (22) (22) (22) (89) (22) (23) (21) (18) (84) Finance income 1 2 3 3 10 3 3 3 2 11 Finance expense (1) (1) (1) (1) (3) (1) (1) (2) (2) (7) Share of post-tax profit of associate - - - - - - 0 0 0 1 Impairment of Assets - - - (39) (39) - (40) - - (40) Gain on bargain purchase - - - 0 0 - - - - - Change in fair value of option (2) (7) (15) (7) (31) (14) 0 - (0) (14) Profit / (loss) before taxation 5 46 17 (48) 20 53 22 25 103 204 Income tax expense (7) (15) (5) (0) (28) (8) (23) (16) (34) (81) Profit / (loss) for the period (2) 30 12 (48) (8) 45 (1) 9 70 123 Note: Totals may not sum due to rounding. Consolidated Statement of Profit or Loss


 
FY 2023 $m Betway Spin Total Betway Spin Total Betway Spin Total Betway Spin Total Betway Spin Total Online casino 111 150 261 132 165 297 137 164 301 141 165 306 522 644 1,166 Sports betting 87 0 87 103 0 103 70 (0) 70 64 (0) 64 325 0 325 Brand licensing 9 (0) 9 9 (0) 9 9 0 9 9 (0) 9 37 (0) 37 Other 5 0 6 6 0 6 7 0 8 8 0 9 27 1 28 Total Revenue 213 151 363 250 165 415 224 164 388 223 165 388 910 645 1,555 Africa and Middle East 94 0 94 120 1 121 107 1 108 125 1 126 448 2 450 Asia & Pacific 38 25 62 45 30 75 38 29 67 11 27 38 131 111 243 Europe 37 23 60 40 22 62 38 21 59 41 21 62 156 88 244 North America 40 99 140 41 108 149 36 109 146 42 113 155 159 430 589 South/Latin America 4 3 7 4 4 8 4 3 7 4 3 7 15 14 29 Total Revenue 213 151 363 250 165 415 224 164 388 223 165 388 910 645 1,555 FY 2024 $m Betway Spin Total Betway Spin Total Betway Spin Total Betway Spin Total Betway Spin Total Online casino 151 170 322 167 181 348 184 179 363 215 197 412 716 728 1,444 Sports betting 79 0 79 91 (0) 91 74 (0) 74 119 (0) 119 363 0 363 Brand licensing 6 0 6 6 (0) 6 4 0 4 4 (0) 4 20 0 20 Other 4 0 5 2 0 2 2 0 2 (2) 0 (2) 7 1 7 Total Revenue 241 171 412 265 181 447 263 180 443 336 197 533 1,105 729 1,835 Africa and Middle East 151 0 152 164 1 165 165 1 166 223 2 225 703 4 708 Asia & Pacific 9 29 38 7 33 40 6 31 37 6 31 37 27 124 152 Europe 42 20 63 48 22 71 52 22 74 67 26 92 209 90 299 North America 35 118 153 41 120 162 37 122 159 41 137 178 155 497 652 South/Latin America 4 3 7 4 5 9 4 3 6 (0) 2 2 11 13 24 Total Revenue 241 171 412 265 181 447 263 180 443 336 197 533 1,105 729 1,835 Note: Totals may not sum due to rounding. Disaggregation of Revenue by Product and Region 1Q23 2Q23 3Q23 4Q23 FY 2023 Disaggregation of Revenue by Product and Region 1Q24 2Q24 3Q24 4Q24 FY 2024


 
$m 1Q23 2Q23 3Q23 4Q23 FY 2023 1Q24 2Q24 3Q24 4Q24 FY 2024 Profit / (loss) for the period (2) 30 12 (48) (8) 45 (1) 9 70 123 Income tax expense 7 15 5 0 28 8 23 16 34 81 Profit / (loss) before taxation 5 46 17 (48) 20 53 22 25 103 204 Finance income (1) (2) (3) (3) (10) (3) (3) (3) (2) (11) Finance expense 1 1 1 1 3 1 1 2 2 7 Depreciation and amortization expense 23 22 22 22 89 22 23 21 18 84 EBITDA 27 66 37 (28) 102 73 44 46 121 283 Unrealized foreign exchange 3 1 (0) (0) 4 3 2 3 (3) 6 RSU expense 5 4 5 5 18 4 4 1 2 11 Change in fair value of options 2 7 15 7 31 14 (0) - 0 14 Gain on disposal of business - - - - - (44) - - - (44) Impairment of assets - - - 39 39 - 40 - - 40 US Sportsbook Closure - - - - - - - 36 - 36 Market closure - - - 11 11 0 - 6 - 6 Gain on bargain purchase - - - (0) (0) - - - - - Gain on derivative contracts - - - - - - 0 - - 0 Other non-recurring adjustments 1 6 0 4 11 (1) (1) 0 5 4 Adjusted EBITDA 39 83 57 37 216 50 88 92 126 357 Note: Totals may not sum due to rounding. Reconciliation of Profit for the period to EBITDA and Adjusted EBITDA


 
€m 1Q23 2Q23 3Q23 4Q23 FY 2023 1Q24 2Q24 3Q24 4Q24 FY 2024 Revenue 339 381 357 360 1,436 379 415 403 500 1,697 Direct and marketing expenses (276) (277) (271) (313) (1,137) (304) (299) (320) (346) (1,270) General and administrative expenses (37) (38) (39) (35) (148) (39) (39) (41) (43) (162) Other operating Income 1 1 0 3 6 4 1 0 2 7 Gain on disposal of business - - - - - 40 - - - 40 Depreciation and amortization expense (21) (20) (20) (21) (82) (20) (22) (19) (17) (78) Finance income 1 2 3 3 9 3 3 2 2 10 Finance expense (1) (1) (1) (1) (3) (1) (1) (2) (1) (6) Share of post-tax profit of associate - - - - - - 0 0 0 1 Impairment of Assets - - - (36) (36) - (37) - - (37) Gain on bargain purchase - - - 0 0 - - - - - Change in fair value of option (2) (6) (14) (6) (29) (13) 0 - (0) (13) Profit / (loss) before taxation 5 42 15 (45) 17 49 21 23 97 189 Income tax expense (6) (14) (5) - (25) (8) (21) (14) (32) (75) Profit / (loss) for the period (2) 28 11 (45) (9) 41 (1) 8 65 114 Note: Totals may not sum due to rounding. Consolidated Statement of Profit or Loss


 
FY 2023 €m Betway Spin Total Betway Spin Total Betway Spin Total Betway Spin Total Betway Spin Total Online casino 103 140 243 121 152 272 127 150 277 131 153 285 482 595 1,077 Sports betting 81 0 81 94 0 94 65 (0) 65 59 (0) 59 299 0 299 Brand licensing 9 (0) 9 8 (0) 8 8 0 8 9 (0) 9 34 (0) 34 Other 5 0 5 6 0 6 7 0 7 8 0 8 25 1 26 Total Revenue 198 140 339 229 152 381 206 151 357 206 154 360 840 596 1,436 Africa and Middle East 88 0 88 110 1 111 99 1 100 116 1 116 413 2 415 Asia & Pacific 35 23 58 41 28 69 35 27 62 10 26 36 121 104 225 Europe 34 21 56 37 21 57 35 19 54 38 20 58 144 81 225 North America 37 93 130 37 100 137 33 100 134 39 104 144 147 397 544 South/Latin America 4 3 7 4 3 7 4 3 7 3 3 6 14 13 27 Total Revenue 198 140 339 229 152 381 206 151 357 206 154 360 840 596 1,436 FY 2024 €m Betway Spin Total Betway Spin Total Betway Spin Total Betway Spin Total Betway Spin Total Online casino 139 157 296 155 168 323 167 163 330 201 185 386 662 673 1,336 Sports betting 73 0 73 84 (0) 84 67 (0) 67 111 (0) 111 336 0 336 Brand licensing 6 0 6 5 (0) 5 4 0 4 4 (0) 4 19 0 19 Other 4 0 4 2 0 2 2 0 2 (1) 0 (1) 6 1 7 Total Revenue 222 157 379 246 168 415 239 163 403 315 185 500 1,023 674 1,697 Africa and Middle East 139 0 140 153 1 154 150 1 151 209 2 211 651 4 655 Asia & Pacific 8 27 35 7 30 37 5 29 34 5 29 34 25 115 140 Europe 39 19 58 45 21 66 47 20 67 62 24 86 193 84 277 North America 32 109 141 38 112 150 34 111 145 39 128 167 143 460 603 South/Latin America 3 3 6 4 5 8 3 3 6 (0) 2 2 10 12 22 Total Revenue 222 157 379 246 168 415 239 163 403 315 185 500 1,023 674 1,697 Note: Totals may not sum due to rounding. Disaggregation of Revenue by Product and Region 1Q23 2Q23 3Q23 4Q23 FY 2023 Disaggregation of Revenue by Product and Region 1Q24 2Q24 3Q24 4Q24 FY 2024


 
€m 1Q23 2Q23 3Q23 4Q23 FY 2023 1Q24 2Q24 3Q24 4Q24 FY 2024 Profit / (loss) for the period (2) 28 11 (45) (9) 41 (1) 8 65 114 Income tax expense 6 14 5 - 25 8 21 14 32 75 Profit / (loss) before taxation 5 42 15 (45) 17 49 21 23 97 189 Finance income (1) (2) (3) (3) (9) (3) (3) (2) (2) (10) Finance expense 1 1 1 1 3 1 1 2 1 6 Depreciation and amortization expense 21 20 20 21 82 20 22 19 17 78 EBITDA 25 61 33 (26) 93 67 41 41 113 262 Unrealized foreign exchange 3 1 (0) (0) 4 3 2 3 (3) 5 RSU expense 4 3 5 4 17 4 3 1 2 10 Change in fair value of options 2 6 14 6 29 13 (0) - 0 13 Gain on disposal of business - - - - - (40) - - - (40) Impairment of assets - - - 36 36 - 37 - - 37 US Sportsbook Closure - - - - - - - 33 - 33 Market closure - - - 10 10 0 - 5 - 6 Gain on bargain purchase - - - (0) (0) - - - - - Other non-recurring adjustments 1 5 0 4 10 (0) (1) 0 5 4 Adjusted EBITDA 36 76 53 33 198 46 82 84 118 330 Note: Totals may not sum due to rounding. Reconciliation of Profit for the period to EBITDA and Adjusted EBITDA


 
1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 EUR to USD 1.073 1.090 1.089 1.076 1.082 1.086 1.077 1.099 1.067 1.082 Note: Items within the statement of Profit or Loss previously reported in Euros have been converted to USD from the functional currency of the respective subsidiaries within the Group using the average monthly foreign exchange rates at the date of the transaction. Average of Average Exchange Rate 2023 2024 2023 Total 2024 Total