A fast growing player in online gaming and affiliation

Nordic Leisure

Nordic Leisure AB owns and manages companies in the gaming sector within two divisions, Online Gambling and Media. The gaming segment includes casino, betting, poker and bingo, and the media segment has a focus on online gaming. Nordic Leisure is primarily focused on Eastern Europe and emerging markets, with both land-based betting shops and online casinos. The company's portfolio includes brands such as Optibet, GoldClubCasino, Best brands, Score24 and ComSkill Media. The company aims to grow organically and through acquisitions.

Financials

NORDIC LEISURE

EURm 2017 2018 2019
Sales 24 30 39
Sales growth (%) -3 26,7 32,2
EBITDA 7 9 14
EBITDA margin (%) 28,7 30,4 34,5
EBIT adj 5 7 10
EBIT adj margin (%) 22,4 23,3 24,6
Pretax profit 5 6 10
EPS rep 0,07 0,1 0,14
EPS growth (%) 2,7 36,9 42,1
EPS adj 0,07 0,11 0,14
DPS 0 0 0
EV/EBITDA (x) 23,5 9,6 5,7
EV/EBIT adj (x) 30,2 12,5 8,1
P/E (x) 36,7 15,9 11,2
P/E adj (x) 36,7 14,6 11,2
EV/sales (x) 6,7 2,9 2
FCF yield (%) -3,9 3,6 9,1
Dividend yield (%) 0 0 0
Net IB debt/EBITDA -0,9 -1,2 -1,4

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