October 21, 2022
Total Gaming Income for the nine months ended September 30, 2022 increased 18% to $37.52 billion (2021: $31.71 billion). For the quarter, it increased 19% to $12.05 billion (2021: $10.15 billion). Management noted that this upward movement was “driven largely by lottery sales with strong performances from Cash Pot and Instants.”
Revenues from the Company’s segments for the nine-month period were as follows:
- Revenue from non-fixed odd wagering games, horse racing and pin codes increased 14% to $21.89 billion (2021: $19.26 billion).
- Income from fixed odd wagering games, net of prizes increased 26% to $15.63 billion (2021: $12.45 billion).
Interest Revenue for the nine months ended September 30, 2022 amounted to $23.53 million (2021: nil). For the quarter, it amounted to $9.88 million (2021: nil).
Direct Expenses for the nine months ended September 30, 2022 increased 19% to $29.95 billion (2021: $25.17 billion). For the quarter, direct expenses increased 22% to $9.75 billion (2021: $7.98 billion). “This continues to demonstrate our commitment to higher pay-out amounts to our key partners and regulators during the quarter, as prize pay-outs trended higher for some games compared to corresponding to same period last year” as per SVL.
Gross Profit for the nine months ended September 30, 2022 increased 16% to $7.59 billion (2021: $6.54 billion). For the quarter, gross profit increased 7% to $2.31 billion (2021: $2.17 billion).
Other Income for the nine months ended September 30, 2022 decreased 35% to $66.28 million (2021: $102.25 million). For the quarter, it increased 6% to $30.70 million (2021: $28.87 million).
Selling, general and administrative expenses for the nine months ended September 30, 2022 increased 10% to $4.91 billion (2021: $4.48 billion). For the quarter, selling, general and administrative expenses increased 8% to $1.73 billion (2021: $1.60 billion).
Operating Profit for the nine months ended September 30, 2022 increased 27% to $2.75 billion (2021: $2.17 billion). For the quarter, operating profit increased 4% to $612.08 million (2021: $590.03 million).
Finance Costs for the nine months ended September 30, 2022 closed at $233.98 million (2021: finance income of $24.82 million). For the quarter, it decreased 45% to $31.31 million (2021: $57.19 million).
Other Gains for the nine months ended September 30, 2022 increased 486% to $137.10 million (2021: $23.40 million). For the quarter, other gains amounted to $27 million (2021: other losses of $34.50 million).
Profit before taxation for the nine months ended September 30, 2022 increased 20% to $2.65 billion (2021: $2.21 billion). For the quarter, it increased 22% to $607.78 million (2021: $498.34 million).
Taxation for the nine months ended September 30, 2022 decreased 12% to $593.13 million (2021: $673.31 million). For the quarter, it decreased 2% to $181.77 million (2021: $186.04 million).
Net Profit for the nine months ended September 30, 2022 increased 34% to $2.06 billion (2021: $1.54 billion). For the quarter, it increased 36% to $426.01 million (2021: $312.30 million).
Net Profit attributable to shareholders for the nine months ended September 30, 2022 increased 34% to 2.04 billion (2021: 1.52 billion). For the quarter, it increased 34% to 417.80 million (2021: 311.26 million).
Currency translation differences for the nine months ended September 30, 2022 amounted to $91.02 million (2021: nil). For the quarter, it amounted to $100.56 million (2021: nil).
Total Comprehensive Income for the nine months ended September 30, 2022 increased 28% to $1.97 billion (2021: $1.54 billion). For the quarter, it increased 4% to $325.45 million (2021: $312.30 million).
Earnings per share (EPS) totalled $0.77 (2021: $0.58), while for the quarter, it amounted to $0.16 (2021: $0.12). The twelve months trailing earnings per share amounted $1.07. The number of shares used in our calculations 2,637,254,926 units. Notably, SVL’s stock price closed the trading period on October 20, 2022, at a price of $27.36 with a corresponding P/E ratio of 25.66 times.
Balance Sheet at a glance:
As at September 30, 2022, Supreme Ventures Limited had assets totalling $17.18 billion (2021: $15.18 billion). The increase was due mainly to an increase in ‘Property, Plant and Equipment’ and ‘Trades and Other Receivables’, which closed at $4.95 billion (2021: $4.16 billion) and $3.63 billion (2021: $2.15 billion), respectively.
Shareholders Equity attributable to owners of SVL amounted to $4.25 billion (2021: $3.88 billion) with a book value per share of $1.61 (2021: $1.47).
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