Each December we pick three Winners and three Losers to summarise the year just gone. The third installment in a week-long series sees Unibet take its place on the 2013 Winners rostrum.
CEO Henrik Tjärnström has led Unibet from a position of dire weakness to one of strength in the space of just three years. He has been rewarded with its shares reaching an all-time high of SEK320 in the weeks following its outstanding Q3 report. Net profit for the quarter rocketed 143 per cent on the previous year to £8.2m. Despite no major sporting tournament gross winnings revenue for the year-to-date increased by 21 per cent to £169.5m while net profit leapt 28 per cent to £25.4m.
Our conversation takes place on the telephone but you can hear Tjärnström smile as he redelivers these figures: “That is pure organic growth and we have been able to translate top line growth to bottom line growth as well.”
Figures matter to the former CFO and Unibet has not seen figures like this since the heady days of summer 2007 when the sports betting operator had a share price of SEK270 and was one of the biggest online gaming operators in France as well as the Nordic region. That was before then-CEO Petter Nylander was arrested in October 2007 by French authorities and before the catastrophic re-regulation of the French online gambling market.