Mateusz Juroszek, CEO of STS Holding, said that the quarter was a success, even when compared to STS Holding’s record Q1 2022 results.
“In Q1 2023, we achieved very good operating and financial results,” said Juroszek. “Key operational indicators improved compared to Q1 2022, which was then a record period in the company’s history.”
“Despite the high base from Q1 2022, we generated even better results and in terms of net profit, the last quarter was record-breaking in the history of STS S.A.”
Of the total revenue, PLN27.0m came from STS Holding’s retail segment, while PLN126.6m was generated by online betting. A total of PN79,815 was attributed to values not assigned to segments.
Full quarter results
STS Holding’s operating expenses for the quarter hit PLN83.1m, up by 4.3% compared to Q1 2022.
The operator’s online betting segment generated PLN58.3m of this, while the retail segment made up PLN23.2m of the total expenses. Values not assigned to segments of PLN1.4m made up the remaining total.
Of the expenses, personnel expenses generated the highest cost, totaling at PLN25.5m. Marketing expenses hit PLN18.4m, while the cost of organising bookmaking services was PLN13.3m.
The remaining total was made up of numerous other costs, including administrative expenses, property expenses and transport costs.
Other operating expenses totaled at PLN422.7m.
This brought the operating profit for the quarter to PLN70.3m. Following further financial revenue of PLN3.1m, and financial expenses at PLN2.1m, the pre-tax profit for the year was PLN71.3m, up by 11.5%.
Following income tax of PLN15.0m, the net profit for the quarter was PLN56.2m, a rise of 11.5%.
Players wagered PLN1.19bn with STS Holding during the quarter, a rise of 11.5%.
Original article: https://igamingbusiness.com/finance/quarterly-results/sts-holding-revenue-jumps-7-4-in-q1/
