STS Holdings reports the financial performance of Q1

STS Holdings reports the financial performance of Q1

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STS Holdings reports the financial performance of Q1

STS Holdings reports gross gaming income for the 1st quarter of 2022, seeing a 6.3 % growth.

During Q1 STS had excellent results. Compared to last year net gaming profit was 158 million Polish złoty, which was increased by 15%. This was a record for the company.

As the business adjusted 16.2 million Polish złoty for bonuses, they had 142.6 million Polish złoty left, which was 13.6% more.

Adjusted EBITDA grew by 17%, amounting to 72 million Polish złoty. Pretax incomes were 61.9 million Polish złoty, 10% more.

After paying 14.4 million Polish złoty for tax, the company had a 47.4 million Polish złoty net profit, which is 7% more. 

Though the company had increased results they also saw some losses. The lottery and wagering tax bill was decreased by 3.1%, amounting to 123.6 million Polish złoty.

Quantity of active players was also lowered. Previously they had 359 thousand players, but now it is 338 thousand.

According to M. Juroszek, who is the president of the company, they had these outcomes as their planning to focus on clients’ needs by the end of the year. He explained that it is related to 2022’s sporting event schedule, such as the World Cup happening at the end of 2022. 

Later he added that in spite of the inflation and the war they had strong economic performance and told that they are going to share their profit with STS’s shareholders.

In conclusion, STS Holdings reported 305 million Polish złoty in reserve capital and 185 million Polish złoty in cash and cash equivalents.

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