March 2, 2024
Supreme Ventures Limited (SVL), for the twelve months ended December 31, 2023, reported a 2% decrease in Total Gaming Income from $50.77 billion in 2022 to $49.90 billion in 2023. Revenues from the Company’s segments for the twelve months were as follows:
- Revenue from non-fixed odd wagering games, horse racing and pin codes increased 2% to $30.01 billion (2022: $29.47 billion).
- Income from fixed odd wagering games, net of prizes decreased 7% to $19.90 billion (2022: $21.30 billion).
Direct Expenses for the period decreased 4% to $38.10 billion (2022: $39.60 billion). For the quarter, Direct Expenses decreased 27% to $7.05 billion (2022: $9.64 billion).
Gross Profit for the twelve months ended December 31, 2023, increased 7% to $12.00 billion (2022: $11.27 billion). For the quarter, Gross Profit decreased 18% to $3.00 billion (2022: $3.68 billion).
Selling, general and administrative expenses for the twelve months ended December 31, 2023, increased 21% to $8.44 billion (2022: $6.98 billion). For the quarter, Selling, general and administrative expenses increased 19% to $2.46 billion (2022: $2.07 billion).
Other Income for the twelve months increased 191% to $696.15 million (2022: $239.30 million). For the quarter, Other Income increased 794% to $320.95 million (2022: $35.92 million).
Operating Profit for the twelve months ended December 31, 2023, decreased 12% to $3.88 billion (2022: $4.39 billion). For the quarter, Operating Profit decreased 73% to $400.01 million (2022: $1.50 billion).
Finance Costs for the twelve months increased 14% to $609.35 million (2022: $535.20 million). For the quarter, Finance Costs decreased 62% to $113.68 million (2022: $301.22 million).
Profit before taxation for the twelve months decreased 15% to $3.27 billion (2022: $3.86 billion). For the quarter, Profit before taxation decreased 69% to $370.33 million (2022: $1.21 billion).
Taxation for the twelve months increased 6% to $830.08 million (2022: $781.34 million). For the quarter, Taxation decreased 80% to $38.58 million (2022: $188.21 million).
Profit Attributable to shareholders for the twelve months decreased 20% to $2.42 billion (2022: $3.04 billion). For the quarter, Profit Attributable to shareholders decreased 65% to $350.54 million (2022: $998.50 million).
Consequently, Earnings Per Share for the twelve months amounted to $0.92 (2022: EPS: $1.15), while Earnings Per Share for the quarter totalled $0.13 (2022: EPS: $0.38). The number of shares used in these calculations was 2,637,254,926.
Notably, SVL’s stock price closed the trading period on March 28, 2024, at a price of $24.74 with a corresponding P/E ratio of 26.96x.
Balance Sheet Highlights
The company’s assets totalled $20.87 billion (2022: $18.37 billion). The growth in total assets was primarily driven by an uptick in ‘Financial assets at fair value’ by $1.16 billion to close at $1.66 billion (2022: $501.40 million). ‘Property, plant & equipment’ also had a notable increase, up 15% from $4.86 billion in 2022 to $5.58 billion in 2023.
Shareholder’s equity was $4.26 billion (2022: $4.69 billion), representing a book value per share of $1.62 (2022: $1.78).
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