The company increases its shareholder base due to strong corporate transparency and communication, while maintaining a solid dividend policy and consistent revenue growth.
The year 2024 was a challenging one for businesses in Bulgaria, impacted by the slowdown of the European Union (EU) economy, persistent inflation, and multiple geopolitical risks. These factors posed challenges for potential investors seeking secure and profitable opportunities.
Telematic Interactive Bulgaria AD, the company behind the Palms Bet brand, stands out with steadily growing revenues, a firm dividend policy, a strong increase in share price, stable expansion, and a diversified portfolio of innovative products that continue to attract customers. Additionally, the company creates added value for shareholders through a share buyback program.
In 2024, Telematic Interactive ranked among the top three drivers of the BGBX40 index of the 40 most liquid stocks, recording an annual growth of 74.73%. As of January 20, 2025, the company’s market capitalization has increased by over 78% year-on-year, reaching nearly BGN 292.9 million.
With a growing number of shareholders and a strong commitment to transparency and investor communication, Telematic Interactive Bulgaria is well-positioned to become part of the SOFIX index—the benchmark index of the Bulgarian Stock Exchange (BSE).
Financial Performance
In 2024, Telematic Interactive Bulgaria’s individual revenues increased by over 13%, reaching BGN 128.3 million, compared to BGN 113.1 million in 2023.
Revenues from casino games grew by 10.5%, reaching nearly BGN 117.6 million, compared to BGN 106.4 million in the previous year. Meanwhile, revenues from sports betting rose by nearly 62% in 2024, totaling BGN 10.65 million, up from BGN 6.6 million. This growth was driven by an increase in major sports events and the launch of an enhanced sports betting platform, offering more functionalities for customers.
The company expanded its active client base by nearly 9%, reaching an average of 96,334 monthly users, while average revenue per customer grew by 4% to BGN 111. The churn rate for 2024 was just 2%, demonstrating strong customer retention. Telematic Interactive reported a net profit of BGN 20.7 million for the year.
The company continues its share buyback program, having repurchased 35,886 shares, representing 0.2769% of its capital as of January 23, 2025.
Dividend Policy and Shareholder Growth
In 2024, Telematic Interactive Bulgaria distributed dividends four times—in March, June, September, and December, totaling BGN 2.02 per share for the year. This steady dividend payout, coupled with the company’s rising market capitalization, has enhanced shareholder returns.
The introduction of an employee stock incentive program has also contributed to an increase in the number of shareholders. By the end of 2024, the company had 769 shareholders, exceeding the 750 required for SOFIX inclusion. Of these, 48 were corporate entities and 721 were individual investors. The company meets the free-float market capitalization requirements for index inclusion.
Telematic Interactive was also recognized as one of the most liquid issuers in the Standard segment of the Bulgarian Stock Exchange’s main market for 2024.
Challenges and Strategic Solutions
Telematic Interactive Bulgaria was less impacted by regulatory restrictions on gambling advertisements, as television advertising is not a primary focus of its marketing strategy. While digital advertising limitations had some impact, this was largely offset by the company’s long-term investments in SEO optimization.
Additionally, sports sponsorships have become a key pillar of the company’s marketing strategy, as there are currently no restrictions in this area.
The company consistently develops innovative and diverse products, enhances customer service, and continues its international expansion to generate sustainable revenue and create value for shareholders.
At the end of 2024, Telematic Interactive launched a live casino streaming studio and became the first in the market to introduce an AI-powered chatbot. The virtual assistant, Bet Buddy, was developed over a one-year period by the company’s specialists. It provides match predictions, real-time sports discussions, data insights, and analytics, leveraging advanced algorithms to enhance the betting experience.
Source: Investor.bg
