Super Group Limited, the parent company of Betway and Spin, has announced its financial results for the fourth quarter and full year of 2024. The company reported a total revenue of €1.7 billion ($1.78 billion) for the year, marking an 18 percent increase compared to 2023.
Strong revenue in Q4 2024
In the , Super Group generated €500 million in revenue, a 39 percent rise from the €359.9 million recorded in Q4 2023. This also surpassed the €402.9 million posted in Q3 2024. The company reported a profit before tax of €96.8 million for Q4, a significant recovery from the €35.9 million loss in the same period the previous year.
Super Group’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) for the quarter reached €118.1 million, up 111.4 percent year-on-year. The number of monthly average customers also grew by 12 percent, reaching 5.3 million.
Full-year 2024
For the full year 2024, Super Group’s revenue rose to €1.7 billion, reflecting an 18 percent year-on-year growth. Profit before tax saw an even bigger jump, rising by 167 percent compared to 2023. The company’s monthly average customer count increased from 4 million in 2023 to 4.8 million in 2024.
Adjusted EBITDA (excluding the US market) was recorded at €391.1 million. However, the company faced challenges in the US, with adjusted EBITDA in that market showing a loss of €60.8 million for the year. Overall, Super Group’s total adjusted EBITDA for 2024 stood at €330.3 million.
Super Group in April, 2024 the company appointed Elen Barber as its Chief Marketing Officer. In a major sports partnership, its subsidiary Betway became the official betting partner of Chelsea FC.
In June, Super Group launched a dividend program following strong Q1 performance. The company has now announced plans to increase its minimum quarterly dividend target from €0.10 to €0.16 per share in 2025, pending board approval.
CEO Neal Menashe on Super Group’s future
Neal Menashe, Chief Executive Officer of Super Group said, “In December, we declared a special dividend, bringing our total 2024 shareholder returns to over $125 million, and going forward, I’m pleased to announce that we plan to increase our minimum quarterly dividend target to 4.0 cents per share up from 2.5 cents, in line with our commitment to continue returning excess cash to our shareholders.”
Alinda van Wyk, Chief Financial Officer of Super Group said, “We achieved our best results to date, delivering full year ex-US revenue of €1.663 billion and ex-US Adjusted EBITDA of €391 million. In the US, our total investment for the year came in at €61 million, which we expect to reduce considerably in 2025 given our exclusive focus on iGaming. In the fourth quarter, we saw the benefit that operating leverage is having on our financial results, delivering our best ever ex-US quarterly results with Total Revenue of €487 million and Adjusted EBITDA of €129 million, a considerable margin of 26 percent. We are pleased to see continued momentum into 2025 and anticipate another year of double-digit growth across both Total Revenue and Adjusted EBITDA.”
