Telematic Interactive Bulgaria will pay another dividend to its shareholders, which will be voted at an extraordinary general meeting on 6 December 2024.
The company’s management proposes to distribute BGN 0.28 per share, or a total of over BGN 3.6 million, of the retained earnings.
This will be the fourth dividend to be voted in 2024, bringing the total of all dividends voted during the year to more than BGN 2 per share. Earlier in the year, the company paid out BGN 0.9 gross from 2023 profits (a total of almost BGN 11.7 million), BGN 0.39 gross from retained earnings (just over BGN 5 million) and BGN 0.45 per share (a total of over BGN 5.8 million).
The company is also organising an online investor meeting to be held on 6 November, one month before the extraordinary general meeting. It will be attended by Lachezar Petrov – CEO of the company, and Dimitar Nedkov – Director of International Investor Relations. During the meeting, a report on the company’s financial position for the third quarter of 2024 and details of its operational development will be presented.
Telematic continues to report revenue growth due to the increased number of customers and the average revenue per customer, which the company attributes to good communication with customers and successful product development. Advertising restrictions have not had a material negative effect on the company’s results as sponsorships of sports clubs and events are leading its marketing mix.
For the period January-September 2024, the company generated revenues from operations of BGN 92.6 million, an increase of over 12% compared to the BGN 82.4 million generated for January-September 2023.
Revenue from casino games accounted for the largest share of operating income – almost 93%, growing by more than 11% in a year to BGN 85.7 million at the end of September.
Revenues from sports betting increased by nearly 30% year-on-year to over BGN 6.8 million, accounting for 7.4% of the company’s revenues.
Active customers in the last quarter increased by 15% to 93 602 people, with an average revenue of BGN 116 per customer. At the same time, the churn rate dropped to 2% – the lowest level in the last year.
Telematic Interactive Bulgaria made a profit of BGN 15.9 million for the nine months compared to BGN 17.5 million for the nine months of 2023. The decrease was due to increased marketing, product development and remuneration costs. Investments in subsidiaries amounted to more than BGN 6 million for the reporting period.
The company has also paid nearly BGN 19 million in state fees for maintaining an online gambling operator license as of the end of September.
Source: Investor.bg
