EveryMatrix navigates German hurdles to reach €13.9m Q4 profit

Although acknowledging difficulties in the re-regulated German market, EveryMatrix has detailed strong trading in 2021, in particular experiencing significant growth for its sports services.

Publishing its Q4 and full year trading results, the company reported a profit of €13.9 million in the fourth quarter of last year, an increase of 26% compared to the same period last year. Meanwhile EBITDA in Q4 2021 stood at €4.4 million, a growth rate of 23% in the same time period in 2020. 

For the full year, the B2B igaming technology supplier recorded a gross profit increase of 32% year-on-year to €51.5 million, whilst the firm finished the year with EBITDA of €19.7 million, a 65% YoY increase.

Notable Q4 highlights included its OddsMatrix platform surpassing over €100 million in total placed bets, nearly double the figure recorded in the fourth quarter of 2020, whilst 10 game vendors were integrated with the CasinoEngine.

Focusing on its sports results, a series of ‘complete match schedules’ contributed to gross profit in this sector increasing by 35% from Q4 2020 to Q4 2021, with a full year increase of 48%. 

Sports betting EBITDA also increased by 15% on a quarterly basis and 127% YoY, with EveryMatrix detailing that it had made investments in a ‘high-quality development and team’ and ‘continuous product upgrades’ for its clients. 

However, the group noted that the implementation of the Fourth Interstate Gambling Treaty (GlüNeuRStv) – so far only two states, Schleswig-Holstein and North Rhine-Westphalia, have permitted online casino – did hinder its casino operations ‘significantly’, but maintained that its overall 2021 performance was positive. 

Ebbe Groes, Group CEO of EveryMatrix, said: “I am delighted to report excellent results for the fourth quarter and 2021 as a whole in terms of strong gross profit and EBITDA growth, onboarding of new clients, and deals signed. We delivered this result despite the regulatory changes in Germany which have impacted the Casino segment significantly.”

The impact of German regulations saw EveryMatrix casino EBITDA decrease from 64% in Q4 2020 to 47% last year, although the firm added that this could also be attributed to increased investment in its game studios.

Despite this, the group’s casino profit was up 21% from Q4 2020 to over €6 million, bolstered by SlotMatrix RGS going live with nine partners, becoming available in a total of 15 markets and launching 18 games by the end of the quarter.

“This achievement proves the positive effect of the bold leap EveryMatrix took when investing heavily in product and technology,” Grobes continued. “It has given us a strong, diverse and competitive product offering and the ability to attract new clients.”

Moving forward, the Malta-based B2B supplier aims to build on the expansion of its tier one operator network in the final quarter of 2021. The firm finished the year with eight new tier one partners, with the four new clients signed in Q4 located in the US, Latin America and Africa.

Gores concluded: “The number of active leads, client launches, and new product launches makes me confident about our prospects and further demonstrates the momentum with EveryMatrix’s innovative product offering and highly scalable and modular software platform.”

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