Interim report for 1st Quarter 2025 (1 Jan-31 Mar 2025): Revenues decreased 24.82%, EBIT increased 10.47% and Net Profit increased 64.43% to €1,356,431

Financial report for the period ended 31 st March 2025

Key Facts for the 1 st Quarter 2025 (1 st January – 31 st March 2025)

Revenues decreased 24.82%, EBIT increased 10.47% and Net Profit increased by 64.43% to €1,356,431

All figures are compared to the same quarter last year if not explicitly stated otherwise

• Revenues decreased by 24.82 % to €8,184,154 (€10,885,611).
• EBIT increased by 10.47% to €1,732,394 (€1,568,207).
• EBIT margin of 21.17% (14.41%).
• Net Profit increased by 64.43% to €1,356,431 (€824,927).
• Earnings per share of €0.0181 (€0.0110).

• PremierGaming Ltd, the Group’s subsidiary licensed in Malta and Sweden focusing on Northern Europe, represented 6.67% of the Group’s revenues in Q1 2025.
  

New business model for B2B

The agreements with B2B partners have been re-negotiated, resulting in (a) an adverse effect on the revenues from B2B partners as from 1 January 2025 onward, and (b) a favourable effect on costs, since from 1 January 2025 onward all payments-related costs and expenses arising from operations of B2B partners are at the charge of the B2B partners. In Q1, the Group already saw a positive net effect of the Group’s new lower cost structure resulting from the new B2B business model.

Trading update Q2 2025

The trading update is an indication of how the second quarter 2025 has started, however it is not a revenue forecast for the quarter.

The average daily net gaming revenue in the second quarter 2025 up until and including 13 th of May, including the effect of the new B2B business model, was 16% lower than the average daily net gaming revenue of the full second quarter 2024.

Events during Q1 2025

• The Board of Directors, as mentioned in the previous Q4 and year end 2024 report, proposes distribution to shareholders of € 1,000,000 by way of dividend for the fiscal year 2024, which corresponds to €0.0133 per share.
  
• Marlin Media Ltd – the Group’s refocused affiliate marketing company started its venture in Q2 The goal is to continue developing exceptional and innovative customer-facing products and brands, targeting a significant market segment within the iGaming sector (B2B). The objective is to break even within two years. Marling Media recorded a 90% increase in organic traffic compared to the previous quarter and is on track to reach its break-even objective in Q1 2026.
  
• Angler Gaming plc’s B2C Sweden-licensed subsidiary PremierGaming Ltd continued to be appreciated by its leisure player customers, showing an increase in the number of active paying customers in the quarter.
  

Events after Q1 2025

• The Annual and Sustainability Report together with the Audited Financial Statements for 2024 were published on the 30th of April 2025.
  
• The Group is debt free again. The repayment of the short-term unsecured borrowing of €1,000,000 has been repaid.
  
• Marlin Media’s successful launch of a fully owned proprietary casino information database platform, combined with strategic investments in integrated AI services, has enabled the accelerated deployment of three new sites. This expansion brings Marlin Media’s total operational portfolio to five active sites.
  
  
  

Thomas Kalita, CEO, comments: The revenues in Q1 went down by 24.82 % to €8,184,154 compared with the same quarter one year ago. This is partly explained by the new B2B model which allows us, as well as our B2B partners, to focus further on the respective core business. For our Group, it releases time and resources to focus more on our propriety iGaming platform and surrounding services. The revenues in addition went down due to a relatively weaker second part of Q1, mainly due to higher customer winnings and we saw this trend continue until the end of April. In the last 3 weeks the revenues have gone up making us feel more confident that we are on the right path, both as regards the new context within the new B2B model but also with PremierGaming. The customer deposits on the iGaming platform, an important KPI indicating the health of the iGaming platform, grew 4.79% to €20,165,128 in Q1 2025, compared to €19,243,021 in Q1 2024. As regards the EBIT and Net Profit our continued focus on cost control, especially in our main cost drivers in Cost of Sales and Marketing for PremierGaming, as well as the change in the cost structure due to the new B2B partner model, has had a significant impact. As a result, the EBIT in the quarter increased by 10.47% to €1,732,394 and the Net Profit increased by 64.43% to €1,356,431, both compared to the same quarter a year ago. We also intensified the work to decrease the Group’s financial cost.