Super Group Reports Financial Results for Second Quarter 2024

Rhea-AI Summary

Super Group (SGHC) (NYSE: SGHC) reported its Q2 2024 financial results, highlighting record-breaking performance. Key points include:

- Revenue reached €414.7 million, an all-time quarterly record

- Loss of €0.8 million, including €36.8 million non-cash impairment charges

- Non-GAAP Adjusted EBITDA ex-US of €98.3 million, the highest quarterly ex-US adjusted EBITDA to date

- Total non-GAAP Adjusted EBITDA of €81.9 million

- Unrestricted cash of €306.8 million as of June 30, 2024

The company raised its ex-US Adjusted EBITDA guidance for full-year 2024 to over €300 million and announced its first-ever dividend.

Positive

• Record quarterly revenue of €414.7 million, up 9% year-over-year
• Highest quarterly ex-US adjusted EBITDA of €98.3 million
• Monthly Active Customers increased by 21% to 4.5 million
• Cash and cash equivalents increased to €306.8 million
• Raised ex-US Adjusted EBITDA guidance for full-year 2024 to over €300 million
• Announced first-ever dividend, returning capital to shareholders

Negative

• Reported loss of €0.8 million for Q2 2024
• Non-cash impairment charges of €36.8 million related to DGC assets
• US operations reported an Adjusted EBITDA loss of €16.4 million
• Declines in revenue from Middle East and Asia-Pacific markets

Insights

Financial Analyst

Super Group's Q2 2024 results show a mixed financial picture. While revenue reached a record €414.7 million, up 9% year-over-year, the company reported a loss of €0.8 million. This loss includes a significant non-cash impairment charge of €36.8 million related to DGC assets.

The ex-US business performed strongly, with Adjusted EBITDA reaching €98.3 million, a new record. However, the US operations continue to be a drag, posting an Adjusted EBITDA loss of €16.4 million. The decision to exit the US sports betting market should help stem these losses going forward.

The company's balance sheet remains solid with €306.8 million in unrestricted cash. The announcement of their first dividend signals confidence in their financial position and commitment to shareholder returns.

Market Research Analyst

Super Group's geographical revenue breakdown reveals interesting trends. The Africa and Middle East region showed impressive growth, increasing from 29% to 37% of total revenue year-over-year. This shift compensated for the decline in the Asia-Pacific market, which fell from 18% to 9% of revenue.

The product mix also evolved, with online casino revenue growing significantly to €323.2 million, while sports betting revenue declined to €84.3 million. This shift towards casino games could potentially provide more stable revenue streams, as they're less dependent on sporting events outcomes.

The 21% increase in Monthly Active Customers to 4.5 million is a positive indicator of user engagement and market penetration. However, investors should monitor the impact of regulatory changes and competition in key markets on future growth.

• Revenue of €414.7 million for the second quarter of 2024 - an all-time quarterly record
• Loss for the three months ended June 30, 2024 of €0.8 million includes non-cash charges of €36.8 million relating to the impairment of DGC related assets
• Non-GAAP Adjusted EBITDA ex-US of €98.3 million for the three months ended June 30, 2024 is the highest quarterly ex-US adjusted EBITDA to date, offset by a non-GAAP Adjusted EBITDA loss of €16.4 million from the US, resulting in total non-GAAP Adjusted EBITDA of €81.9 million
• Unrestricted cash of €306.8 million at June 30, 2024

NEW YORK--(BUSINESS WIRE)-- Super Group (SGHC) Limited (NYSE: SGHC) (“SGHC” or “Super Group”), the parent company of Betway, a leading online sports betting and gaming business, and Spin, the multi-brand online casino, today announced second quarter 2024 unaudited consolidated financial results.

Neal Menashe, Chief Executive Officer of Super Group, commented: “The second quarter of 2024 was our strongest quarter ever and demonstrates the exceptional progress we continue to make as a business. I'm glad we have reached a conclusion in shutting the US sports betting market and we continue more generally to optimize our global footprint both in terms of geography and product. I'm really excited to welcome English Premier League champions, Manchester City, and South Africa’s Premier Soccer League, now known as the Betway Premiership, to our brand sponsorship portfolio. Our outlook for the remainder of the year is strong, and we look forward to making 2024 a super year for Super Group.”

Alinda van Wyk, Chief Financial Officer of Super Group, stated: "We achieved new quarterly records for the ex-US business for both total revenue of €408 million and Adjusted EBITDA of €98 million. The continued focus of growth in key markets, along with the significant progress made on realizing cost efficiencies, contributed to a strong second quarter ex-US EBITDA margin of 24%. Given the strength we have seen in the first half of the year, we are confident in raising our ex-US Adjusted EBITDA guidance for the full year 2024 to greater than €300m. Finally, our debt-free balance sheet continues to show strength, and we were pleased to return capital to shareholders through the announcement of our first ever dividend."

Financial Highlights:

• Revenue increased by 9% to €414.7 million for the second quarter of 2024 (constant currency: 11% to €422.5 million) from €380.8 million in the same period of the prior year, driven by growth from the Africa and North America (predominantly Canada) markets partially offset by declines from the Middle East and Asia-Pacific markets.

• Loss for the period was €0.8 million for the second quarter of 2024 and includes non-cash charges of €36.8 million relating to the impairment of DGC related assets. Profit for the period of €27.6 million for the second quarter of 2023 included a non-cash charge of €6.1 million related to the change in fair value of option liability.

• Adjusted EBITDA, a non-GAAP measure, increased by 8% to €81.9 million for the second quarter 2024 compared to €75.9 million in the second quarter of 2023.

• Monthly Active Customers increased by 21% to 4.5 million during the second quarter of 2024 from 3.7 million in the second quarter of 2023.

• Cash and cash equivalents was €306.8 million at June 30, 2024, up from €241.9 million at December 31, 2023. This net increase during the six months ended June 30, 2024 was the result of:

• Inflows from operating activities amounting to €104.5 million;

• Outflows from investing activities of €42.9 million. This was mainly as a result of further investment in tangible and intangible assets of €44.8 million, predominantly due to the capitalization of expenditure on software, issuance of a loan to Apricot Investments Limited of €10.0 million, deferred consideration paid of €2.1 million relating to the 15 Marketing Limited acquisition and cash paid of €2.0 million for an investment in associate. These outflows were offset in part by €9.2 million of consideration received from the sale of the B2B division of DGC, as well as €6.3 million resulting from receipts of interest and repayment of loans receivable;

• Outflows from financing activities of €3.7 million, mainly due to lease payments; and

• A gain of €7.0 million as a result of foreign currency fluctuations on foreign cash balances held over this period.

Revenue by Geographical Region for the Three Months Ended June 30, 2024 in € ‘000s:
	Betway	Spin	Total
Africa and Middle East	152,767	876	153,643
Asia-Pacific	6,740	30,278	37,018
Europe	44,914	20,629	65,543
North America	38,314	111,775	150,089
South/Latin America	3,515	4,938	8,453
Total revenue	246,250	168,496	414,746
	%	%	%
Africa and Middle East	62 %	1 %	37 %
Asia-Pacific	3 %	18 %	9 %
Europe	18 %	12 %	16 %
North America	16 %	66 %	36 %
South/Latin America	1 %	3 %	2 %

Revenue by Geographical Region for the Three Months Ended June 30, 2023 in € ‘000s:
	Betway	Spin	Total
Africa and Middle East	110,029	298	110,327
Asia-Pacific	41,142	27,973	69,115
Europe	36,519	20,608	57,127
North America	37,590	99,514	137,104
South/Latin America	3,657	3,459	7,116
Total revenue	228,937	151,852	380,789
	%	%	%
Africa and Middle East	48 %	0 %	29 %
Asia-Pacific	18 %	18 %	18 %
Europe	16 %	14 %	15 %
North America	16 %	66 %	36 %
South/Latin America	2 %	2 %	2 %

Revenue by Geographical Region for the Six Months Ended June 30, 2024 in € ‘000s:
	Betway	Spin	Total
Africa and Middle East	292,030	1,283	293,313
Asia-Pacific	14,666	57,393	72,059
Europe	83,919	39,249	123,168
North America	70,612	220,372	290,984
South/Latin America	6,988	7,485	14,473
Total revenue	468,215	325,782	793,997
	%	%	%
Africa and Middle East	63 %	0 %	36 %
Asia-Pacific	3 %	18 %	9 %
Europe	18 %	12 %	16 %
North America	15 %	68 %	37 %
South/Latin America	1 %	2 %	2 %

Revenue by Geographical Region for the Six Months Ended June 30, 2023 in € ‘000s:
	Betway	Spin	Total
Africa and Middle East	197,453	752	198,205
Asia-Pacific	76,190	50,922	127,112
Europe	71,008	41,946	112,954
North America	75,245	192,065	267,310
South/Latin America	7,333	6,396	13,729
Total revenue	427,229	292,081	719,310
	%	%	%
Africa and Middle East	46 %	0 %	28 %
Asia-Pacific	17 %	18 %	17 %
Europe	17 %	14 %	16 %
North America	18 %	66 %	37 %
South/Latin America	2 %	2 %	2 %

Revenue by product line for the Three Months Ended June 30, 2024 in € ‘000s:
	Betway	Spin	Total
Online casino1	154,903	168,252	323,155
Sports betting1	84,319	—	84,319
Brand licensing2	5,263	—	5,263
Other3	1,765	244	2,009
Total revenue	246,250	168,496	414,746

Revenue by product line for the Three Months Ended June 30, 2023 in € ‘000s:
	Betway	Spin	Total
Online casino1	120,819	151,620	272,439
Sports betting1	94,221	1	94,222
Brand licensing2	8,316	—	8,316
Other3	5,581	231	5,812
Total revenue	228,937	151,852	380,789
1 Sports betting and online casino revenues are not within the scope of IFRS 15 ‘Revenue from Contracts with Customers’ and are treated as derivatives under IFRS 9 ‘Financial Instruments’. Fixed Odds Contingencies has been reclassified from sports betting in the prior period to online casino in order to align to the current year classification. Fixed Odds Contingencies are casino style games in respect of which the odds are agreed at the time of the bet and accepted under the sports licenses in certain jurisdictions. 2 Brand licensing revenues are within the scope of IFRS 15 ‘Revenue from Contracts with Customers’. 3 Other relates mainly to DGC usage fee income as well as profit share and outsource fees from external customers.

Revenue by product line for the Six Months Ended June 30, 2024 in € ‘000s:
	Betway	Spin	Total
Online casino1	294,031	325,103	619,134
Sports betting1	157,349	60	157,409
Brand licensing2	11,128	—	11,128
Other3	5,707	619	6,326
Total revenue	468,215	325,782	793,997

Revenue by product line for the Six Months Ended June 30, 2023 in € ‘000s:
	Betway	Spin	Total
Online casino1	223,813	291,595	515,408
Sports betting1	175,653	46	175,699
Brand licensing2	17,148	—	17,148
Other3	10,615	440	11,055
Total revenue	427,229	292,081	719,310
1 Sports betting and online casino revenues are not within the scope of IFRS 15 ‘Revenue from Contracts with Customers’ and are treated as derivatives under IFRS 9 ‘Financial Instruments’. Fixed Odds Contingencies has been reclassified from sports betting in the prior period to online casino in order to align to the current year classification. Fixed Odds Contingencies are casino style games in respect of which the odds are agreed at the time of the bet and accepted under the sports licenses in certain jurisdictions. 2 Brand licensing revenues are within the scope of IFRS 15 ‘Revenue from Contracts with Customers’. 3 Other relates to profit share, royalties and outsource fees from external customers.

Non-GAAP Financial Information

This press release 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, Adjusted EBITDA and revenue on a constant currency basis are non-GAAP company-specific performance measures that Super Group 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 business, impairment of assets and other adjustments. Constant currency revenue growth is calculated by translating non-Euro performance for 2023 and 2024 using 2023 exchange rates.

Super Group believes that these non-GAAP measures are useful in evaluating the Company’s operating performance as they 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.

Reconciliation tables of the most comparable IFRS financial measure to the non-GAAP financial measures used in this press release, other than revenue on a constant currency basis, 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.

Reconciliation of (Loss) / Profit after taxation to EBITDA and Adjusted EBITDA for the Three and Six Months Ended June 30, in € ‘000s:
	Three Months Ended June 30				Six Months Ended June 30
	2024		2023		2024		2023
(Loss) / Profit for the period	(805	)	27,559		40,067		25,636
Income tax expense	21,355		14,203		29,099		20,640
Finance income	(2,534	)	(2,070	)	(5,672	)	(3,266	)
Finance expense	1,364		537		2,671		1,084
Depreciation and amortization expense	21,823		20,311		41,725		41,755
EBITDA	41,203		60,540		107,890		85,849
Change in fair value of options	(268	)	6,087		12,838		8,278
RSU expense1	3,432		3,262		7,150		7,402
Unrealized foreign exchange1	1,619		783		4,745		3,894
Gain on disposal of business	—		—		(40,135	)	—
Impairment of assets	36,775		—		—		—
Other adjustments1,2	(848	)	5,195		(983	)	6,495
Adjusted EBITDA	81,913		75,867		91,505		111,918
Adjusted EBITDA, ex-US	98,286		88,365		166,942		140,891
Adjusted EBITDA, US	(16,373	)	(12,498	)	(38,662	)	(28,973	)
1 Adjusted EBITDA has been restated for the prior period presented to include unrealized foreign exchange movements, additional RSU expenses and other adjustments. 2 Other adjustments in 2023 includes non-recurring bad debt and SOX implementation fees relating to new acquisitions.

Webcast Details

The Company will host a webcast at 8:30 a.m. ET today to discuss the second quarter 2024 financial results. Participants may access the live webcast and supplemental earnings presentation on the events & presentations page of the Super Group Investor Relations website at: https://investors.sghc.com/events-and-presentations/default.aspx.

About Super Group (SGHC) Limited

Super Group (SGHC) Limited is the holding company for leading global online sports betting and gaming businesses: Betway, a premier online sports betting brand, and Spin, a multi-brand online casino offering. The group is licensed in multiple jurisdictions, with leading positions in key markets throughout Europe, the Americas and Africa. The group’s sports betting and online gaming offerings are underpinned by its scale and leading technology, enabling fast and effective entry into new markets. Its proprietary marketing and data analytics engine empowers it to responsibly provide a unique and personalized customer experience. Super Group has been ranked no.6 in the EGR Power 50 for the last two years. For more information, visit www.sghc.com.

Source: Super Group

Forward-Looking Statements

Certain statements made in this press release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995.

These forward-looking statements include, but are not limited to, expectations and projections of market opportunity, growth and profitability, expansion into new markets and expectations for the remainder of 2024, including ex-US Adjusted EBITDA guidance for 2024.

These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “pipeline,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. 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. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the ability to implement business plans, forecasts and other expectations, and identify and realize additional opportunities; (ii) the ability to maintain the listing of Super Group’s securities on a national securities exchange; (iii) changes in the competitive and regulated industries in which Super Group operates; (iv) variations in operating performance across competitors; (v) changes in laws and regulations affecting Super Group’s business; (vi) Super Group’s inability to meet or exceed its financial projections; (vii) changes in general economic conditions; (viii) changes in domestic and foreign business, market, financial, political and legal conditions; (ix) future global, regional or local economic and market conditions affecting the sports betting and gaming industry; (x) changes in existing laws and regulations, or their interpretation or enforcement, or the regulatory climate with respect to the sports betting and gaming industry; (xi) the ability of Super Group’s customers to deposit funds in order to participate in Super Group’s gaming products; (xii) compliance with regulatory requirements in a particular regulated jurisdiction, or Super Group’s ability to successfully obtain a license or permit applied for in a particular regulated jurisdiction, or maintain, renew or expand existing licenses; (xiii) the technological solutions Super Group has in place to block customers in certain jurisdictions, including jurisdictions where Super Group’s business is illegal, or which are sanctioned by countries in which Super Group operates from accessing its offerings; (xiv) Super Group’s ability to restrict and manage betting limits at the individual customer level based on individual customer profiles and risk level to the enterprise; (xv) the ability by Super Group’s key executives, certain employees or other individuals related to the business, including significant shareholders, to obtain the necessary licenses or comply with individual regulatory obligations in certain jurisdictions; (xvi) protection or enforcement of Super Group’s intellectual property rights, the confidentiality of its trade secrets and confidential information, or the costs involved in protecting or enforcing Super Group’s intellectual property rights and confidential information; (xvii) compliance with applicable data protection and privacy laws in Super Group’s collection, storage and use, including sharing and international transfers, of personal data; (xviii) failures, errors, defects or disruptions in Super Group’s information technology and other systems and platforms; (xix) Super Group’s ability to develop new products, services, and solutions, bring them to market in a timely manner, and make enhancements to its platform; (xx) Super Group’s ability to maintain and grow its market share, including its ability to enter new markets and acquire and retain paying customers; (xxi) the success, including win or hold rates, of existing and future online betting and gaming products; (xxii) competition within the broader entertainment industry; (xxiii) Super Group’s reliance on strategic relationships with land based casinos, sports teams, event planners, local licensing partners and advertisers; (xxiv) events or media coverage relating to, or the popularity of, online betting and gaming industry; (xxv) trading, liability management and pricing risk related to Super Group’s participation in the sports betting and gaming industry; (xxvi) accessibility to the services of banks, credit card issuers and payment processing services providers due to the nature of Super Group’s business; (xxvii) the regulatory approvals related to proposed acquisitions and the integration of the acquired businesses; and (xxviii) other risks and uncertainties indicated from time to time for Super Group including those under the heading “Risk Factors” in our Annual Report on Form 20-F filed with the SEC on April 25, 2024, and in Super Group’s other filings with the SEC. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in other documents filed or that may be filed by Super Group from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. 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. Super Group does not give any assurance that it will achieve its expectations.

Super Group (SGHC) Limited Unaudited Consolidated Statements of Profit or Loss and Other Comprehensive Income for the Three and Six Months Ended June 30, 2024 and 2023 (€ in '000s, except for shares and (loss) / profit per share)
	Three Months Ended June 30						Six Months Ended June 30
	2024			2023			2024			2023
Revenue	414,746			380,789			793,997			719,310
Direct and marketing expenses	(299,243	)		(277,329	)		(603,127	)		(553,039	)
General and administrative expenses	(38,664	)		(37,861	)		(77,965	)		(74,453	)
Other operating income	720			1,028			4,312			2,309
Gain on disposal of business	—			—			40,135			—
Depreciation and amortization expense	(21,823	)		(20,311	)		(41,725	)		(41,755	)
Impairment of assets	(36,775	)		—			(36,775	)		—
Finance income	2,534			2,070			5,672			3,266
Finance expense	(1,364	)		(537	)		(2,671	)		(1,084	)
Change in fair value of options	268			(6,087	)		(12,838	)		(8,278	)
Share of post-tax profit of equity accounted associate	151			—			151			—
Profit before taxation	20,550			41,762			69,166			46,276
Income tax expense	(21,355	)		(14,203	)		(29,099	)		(20,640	)
(Loss) / Profit for the period	(805	)		27,559			40,067			25,636
(Loss) / Profit for the period attributable to:
Owners of the parent	(791	)		26,578			40,293			24,173
Non-controlling interest	(14	)		981			(226	)		1,463
	(805	)		27,559			40,067			25,636
Other comprehensive income items that may be reclassified subsequently to profit
Foreign currency translation	9,543			1,190			15,655			(792	)
Other comprehensive income / (expense) for the period	9,543			1,190			15,655			(792	)
Total comprehensive profit for the period	8,738			28,749			55,722			24,844
Total comprehensive profit for the period attributable to:
Owners of the parent	8,752			27,768			55,948			23,381
Non-controlling interest	(14	)		981			(226	)		1,463
	8,738			28,749			55,722			24,844
Weighted average shares outstanding, basic	501,447,006			498,517,588			501,006,962			498,337,223
Weighted average shares outstanding, diluted	501,447,006			499,544,535			503,615,557			499,394,699
(Loss) / Profit per share, basic (cents)	(0.16	)		5.33			8.04			4.85
(Loss) / Profit per share, diluted (cents)	(0.16	)		5.32			8.00			4.84

Super Group (SGHC) Limited Consolidated Statements of Financial Position as at June 30, 2024 and December 31, 2023 (€ in '000s)
		Unaudited
		2024		2023
ASSETS
Non‐current assets
Intangible assets		164,865		193,395
Goodwill		89,527		94,915
Property, plant and equipment		17,252		17,406
Right-of-use assets		22,728		24,866
Deferred tax assets		42,146		36,703
Regulatory deposits		12,448		11,951
Loans receivable		1,094		89,090
Investment in associate		2,255		—
Financial assets, including derivative		447		174
Prepayment for sportsbook software1		102,437		—
		455,199		468,500
Current assets
Trade and other receivables		132,772		154,615
Loans receivable		1,664		6,719
Income tax receivables		11,008		12,535
Restricted cash		37,580		38,287
Cash and cash equivalents		306,792		241,923
Assets held for sale		—		38,292
		489,816		492,371
TOTAL ASSETS		945,015		960,871
Non-current liabilities
Lease liabilities		22,270		23,919
Deferred tax liability		2,936		4,684
Derivative financial instruments		2,057		2,056
Contingent consideration		330		322
		27,593		30,981
Current liabilities
Lease liabilities		5,552		5,226
Interest-bearing loans and borrowings		36		87
Deferred and contingent consideration		308		2,392
Trade and other payables		227,757		195,392
Customer liabilities		56,368		67,592
Provisions		7,566		44,826
Income tax payables		18,178		25,840
Dividends payable2		46,725		—
Derivative liability associated with assets held for sale		—		42,600
Liabilities associated with assets held for sale		—		7,140
		362,490		391,095
TOTAL LIABILITIES		390,083		422,076
EQUITY
Issued capital		289,753		289,753
Treasury shares		(2,632)		(2,632)
Accumulated other comprehensive profit / (deficit)		8,231		(7,424)
Retained profit		241,339		240,618
Equity attributable to owners of the parent		536,691		520,315
Non-controlling Interest		18,241		18,480
SHAREHOLDERS' EQUITY		554,932		538,795
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY		945,015		960,871
1 Prepayment for sportsbook software arose as a result of a reclassification of the loan receivable from Apricot Investments Limited 2 The Company expects that any distributions made during the current tax year will be treated as dividends for US federal income tax purposes

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240807173636/en/

Investors:

investors@sghc.com

Media:

media@sghc.com

Source: Super Group

FAQ

What was Super Group's (SGHC) revenue for Q2 2024?

Super Group (SGHC) reported record revenue of €414.7 million for Q2 2024, representing a 9% increase from the same period last year.

Did Super Group (SGHC) report a profit or loss in Q2 2024?

Super Group (SGHC) reported a loss of €0.8 million for Q2 2024, which included non-cash impairment charges of €36.8 million related to DGC assets.

What was Super Group's (SGHC) Adjusted EBITDA for Q2 2024?

Super Group's (SGHC) total non-GAAP Adjusted EBITDA for Q2 2024 was €81.9 million, with ex-US Adjusted EBITDA reaching a record €98.3 million.

How much cash did Super Group (SGHC) have as of June 30, 2024?

Super Group (SGHC) reported unrestricted cash of €306.8 million as of June 30, 2024, up from €241.9 million at the end of 2023.

Did Super Group (SGHC) update its financial guidance for 2024?

Yes, Super Group (SGHC) raised its ex-US Adjusted EBITDA guidance for full-year 2024 to greater than €300 million, citing strong performance in the first half of the year.