STS posts record-breaking results for FY2022 and Q4

STS Group has posted record full-year consolidated revenue of PLN597m (£112.71m), representing a year-on-year (YoY) increase of 16% on 2021’s PLN498m.

Net gaming revenue (NGR) increased by 17% YoY, reaching PLN663m compared to PLN565m in 2021 as the group also recorded increases across total stakes and active customers.

The amount staked by STS players increased to PLN4.68bn compared to PLN4.5bn in 2021 while the number of active users rose from 693,000 to 783,000.

STS confirmed there were 439,000 new customer registrations in the year, with the number of customers making their first deposit amounting to 317,000.

Elsewhere, adjusted EBITDA for STS amounted to PLN273m, an increase of over 26% YoY, with a corresponding margin of 41.2%.

Net profit for the group increased 29% YoY to PLN169m.

Mateusz Juroszek, STS CEO, said: “A very good year is behind us – we generated the highest operating results in the group’s history, which translated into extremely satisfactory financial results.”

Alongside the full-year results, STS confirmed Q4 2022 returned the group’s record NGR on a quarterly basis at PLN200m.

Net profit for the group skyrocketed 290% YoY, reaching PLN58m. Adjusted EBITDA in Q4 amounted to PLN83m, an increase of 122% YoY.

Looking ahead to the remainder of 2023, STS said its core efforts would be around increasing profitabiltity with a concerted focus on the Polish market.

STS pulled its operations in the UK and Estonia last year and is rechannelling resources into its Polish heartlands.

Juroszek commented: “The plan for the current year is to focus on a number of efficiencies. We focus on Poland to increase profitability and fully exploit the potential of the dynamic market. We implement savings and improve our product. We assume that turnover, NGR, as well as EBITDA, will be higher this year than last year.”

Following the announcement, STS Holding’s opening share price of the day is PLN17.95, down 1.79%