Major Revenue Growth Predicted by Bragg Gaming Group for 2024

by Annabelle Stephenson
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on 26 March 2024

Bragg Gaming Group Reports Q4 Operational Loss, Expects Revenue Growth in 2024

Bragg Gaming Group recently released its financial results for the fourth quarter, revealing a decline in profits compared to the previous year. The company experienced an operational loss of 0.4 million euros, a significant change from the 0.2 million euro profit recorded in the previous year. Despite this setback, the EBITDA income rose to 3.33 million euros from 2.68 million euros in the previous year.

Adjusted EBITDA margins dropped by 350 basis points to 11.9 percent, while gross profit saw a decrease of 7.3 percent to 12.0 million euros. Additionally, revenues also decreased by 1.4 percent to 23.36 million euros compared to 23.68 million euros in the previous year. These results are reflective of the altered commercial terms agreed upon with a key strategic partner during the quarter.

Looking ahead to the fiscal year 2024, Bragg Gaming Group anticipates a substantial revenue increase ranging from 9.1 to 16.6 percent, with projected revenues between 102 million euros and 109 million euros. The company also expects adjusted EBITDA to grow by 21.7 percent, reaching a range of 15.2 million euros to 18.5 million euros.

In an unexpected move, the company announced the formation of a special ad hoc committee by its Board of Directors to explore various strategic alternatives. These alternatives may potentially involve the sale of the company or its assets, a merger, financing options, further acquisitions, or other strategic possibilities. The timeline for the completion of this strategic review process has not been determined yet.

For more detailed insights into the financial performance of Bragg Gaming Group Inc. and other companies, interested parties can visit the rttnews.com website.

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FAQ (Frequently Asked Questions)

What is EBITDA?

EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It is a measure of a company’s operating performance and profitability.

What are adjusted EBITDA margins?

Adjusted EBITDA margins indicate the percentage of adjusted EBITDA to total revenue, providing insights into a company’s operational efficiency.

The source of the article is from the blog macnifico.pt