October 25, 2024

Supreme Ventures Limited (SVL)

Unaudited financials for the nine months ended September 30, 2024:

Supreme Ventures Limited (SVL), for the nine months ended September 30, 2024, reported a 1% increase in Total Gaming Income from $38.38 billion in 2023 to $38.60 billion in 2024.
Revenues from the Company’s segments for the nine months were as follows:
Revenue from non-fixed odd wagering games, horse racing, and pin codes increased 2% to $23.77 billion (2023: $23.41 billion).
Income from fixed odd wagering games, net of prizes, decreased by 1% to $14.83 billion (2023: $14.96 billion).
Direct Expenses increased by 1% to $30.03 billion (2023: $29.63 billion). Direct Expenses decreased 1% for the quarter to $10.46 billion (2023: $10.52 billion).
Gross Profit for the nine months ended September 30, 2024, decreased 1% to $8.78 billion (2023: $8.89 billion). Gross Profit increased 2% for the quarter to $2.32 billion (2023: $2.27 billion).
Selling, general and administrative expenses for the nine months ended September 30, 2024, increased 1% to $6.07 billion (2023: $6.00 billion). For the quarter, Selling, general and administrative expenses increased 1% to $1.85 billion (2023: $1.83 billion).
Other Income for the nine months decreased by 33% to $340.34 million (2023: $511.64 million). Other Income increased 1% for the quarter to $263.03 million (2023: $260.02 million).
Operating Profit for the nine months ended September 30, 2024, decreased 10% to $3.05 billion (2023: $3.39 billion). Operating Profit increased 5% for the quarter to $736.70 million (2023: $702.17 million).
Finance Costs for the nine months increased 17% to $604.58 million (2023: $517.75 million). Finance Costs increased 55% for the quarter to $197.13 million (2023: $127.06 million).
Profit before Taxation for the nine months decreased 15% to $2.45 billion (2023: $2.88 billion). For the quarter, Profit before Taxation decreased by 6% to $539.56 million (2023: $575.10 million).
Taxation decreased by 3% to $746.69 million for the nine months (2023: $767.17 million) and by 3% to $181.24 million for the quarter (2023: $187.16 million).
Profit Attributable to shareholders for the nine months decreased 18% to $1.70 billion (2023: $2.07 billion). For the quarter, Profit Attributable to shareholders increased to $376.77 million (2023: $374.71 million).
Consequently, Earnings Per Share for the nine months amounted to $0.64 (2023: EPS: $0.78), while Earnings Per Share for the quarter totalled $0.143 (2023: EPS: $0.142). The twelve-month trailing EPS was $0.78, and the number of shares used in these calculations was 2,637,254,926.
SVL’s stock price closed on October 24, 2024, trading for $23.27 with a corresponding P/E ratio of 29.94x.

Balance Sheet Highlights

The Company’s assets totalled $21.82 billion (2023: $20.59 billion). The total increase in the Company’s total asset base is driven by an 8% increase in “Property, plant and equipment” ending the period at $5.29 billion (2023: $ 4.88 billion), a 26% YoY increase in “Financial assets at fair value” ending the period at $1.86 billion (2023: $1.47 billion) and a 233% YoY increase in Inventory ending the period at $414.59 million (2023: $124.55 million).

Shareholder’s equity was $4.51 billion (2023: $5.27 billion), representing a book value per share of $1.71 (2023: $2.00).

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