Playtech Sees 12% Jump in 2021 Revenue, Profit Soars

Playtech (LON: PTEC) released its annual financials for the year 2021 on Thursday, reporting a 12 percent jump in its revenue to €1.2 billion.

Other key financial metrics also came in solid for the period. The adjusted EBITDA for the period came in €317.1 million, which is 25 percent higher than the previous year, whereas the adjusted post-tax profit was 366 percent higher at €127.6 million.

In addition, the company generated €686.7 million as reported post-tax profits from its continuing operations, compared to a loss of €73.1 million in the previous year. The reported diluted earnings per share came in at 220 euro cents, while the adjusted figure came in 365 percent higher at 40.9 euro cents.

“Our full year results demonstrate the quality of Playtech's technology and the momentum across the Group,” said Playtech’s CEO, Mor Weizer.

Growth in Every Division

Playtech is one of the largest gambling software providers based in London. Over the years, the company expanded its business in several other vertices and jurisdictions.

Revenue from its business-to-business (B2B Business-to-Business (B2B) Business-to-business (B2B) represents an interaction in which one business makes a commercial transaction with another. B2B also reflect supportive enterprises that offer or exchange elements that businesses need to operate and grow.In essence, B2B encompasses companies focused on selling products or services to other businesses rather than to consumers – Business-to-Consumer (B2C).Ultimately, B2B companies can be a part of any industry. These is a common market in any technology or manufacturin Business-to-business (B2B) represents an interaction in which one business makes a commercial transaction with another. B2B also reflect supportive enterprises that offer or exchange elements that businesses need to operate and grow.In essence, B2B encompasses companies focused on selling products or services to other businesses rather than to consumers – Business-to-Consumer (B2C).Ultimately, B2B companies can be a part of any industry. These is a common market in any technology or manufacturin Read this Term) division grew by 11 percent to come in at €554.3 million. Its business from the Americas also jumped by 64 percent last year. Meanwhile, the company continued to increase its presence in the United States, Latin America and Europe.

The total B2C revenue came in at €663.7 million, which was higher €596.3 million than seen in the previous year. The adjusted EBITDA from this division stood at €177.9 million.

“Our strong performance is underpinned by our B2B business, in particular the tremendous growth we have seen in the Americas. We have made real progress in the execution of our US strategy, supported by new licences, new launches and new partnerships, and we continue to go from strength to strength in Latin America, buoyed by new strategic agreements across the region,” Weizer added.