March 6 (SeeNews) - Online betting operator Telematic Interactive Bulgaria [BUL:TIB] said its consolidated net profit fell to some 20.9 million levs ($11.6 million/10.7 million euro) last year from 23.8 million levs in 2022.
Total operating revenue jumped to 119.8 million levs in 2023 from 103.3 million levs the previous year, the company said in a financial statement last week. Revenue from sales amounted to 118.4 million levs, up 16% in annual terms.
Nearly 90% of the company's sales revenue was generated from online casino games, the income from which grew by an annual 20%. Meanwhile, sports betting revenue dropped by 24% on the year to 6.5 million levs in the review period.
The average number of active users climbed by 6.5% year-on-year to 88,662, while the average revenue per client went up 8.9%.
Telematic Interactive's expenses widened to 96.4 million levs last year from 77.5 million levs in 2022. The rise was chiefly due to a 27% increase in costs for hired services to 58.6 million levs and a 35% jump in personnel costs to 9.6 million levs.
Shares in Telematic Interactive last traded on Tuesday when they closed at 15.30 levs on the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.9558 levs)