**Super Group’s Financial Projections for 2024 See Upward Revision**
Super Group, a prominent player in its industry, has revised its revenue forecast for the year ending 31 December 2024. The company now anticipates reaching a revenue milestone of €1.60 billion (equivalent to £1.32 billion or $1.68 billion), surpassing its earlier prediction of €1.55 billion.
The group’s adjusted EBITDA, excluding inputs from the US, is expected to climb to €360 million, marking a 4.3% increase from the previous forecast of €345 million. Super Group plans to disclose its detailed annual financial results in March or April next year.
A strong performance in the fourth quarter has facilitated this optimistic outlook. Robust results were reported for October and November, although the company did not elaborate further on the specifics.
CEO Neal Menashe expressed pride and optimism regarding the financial upgrade and the announcement of an additional dividend. He highlighted the intention to capitalize on this momentum well into 2025 and beyond, noting, “I’m thrilled with our achievements this year, allowing us to raise our full-year revenue and ex-US adjusted EBITDA projections while also declaring an additional dividend for 2024.”
Menashe reiterated their commitment to considering the redistribution of surplus cash to shareholders. “Our excellent performance throughout 2024, coupled with our strong financial position, provides us the opportunity to follow through on this commitment,” he added.
**Super Group Announces Additional Dividend Payment**
Following the updated financial guidance, Super Group’s board has declared a special cash dividend of 15¢ per share for its shareholders. This dividend, related to ordinary shares, is scheduled for distribution on 8 January to all registered shareholders.
With the initial 2024 dividend of 10¢ per share already dispensed in July, this brings the cumulative dividend declared for the year to 25¢ per share.
**Record Quarterly Revenue Amid Varied Q3 Performance**
The revised projections are underpinned by a predominantly favorable third quarter. During this period, Super Group achieved unprecedented revenue figures of €402.9 million. Excluding the US market, the adjusted EBITDA stood at €95.3 million, contributing to a total adjusted EBITDA of €83.9 million for Q3—a substantial 59.8% increase compared to the previous year.
In a strategic pivot during mid-Q3, Super Group opted to exit the US sports betting market after conducting a thorough internal evaluation. The company discontinued its sportsbook operations across nine states, citing the absence of a viable long-term profitability trajectory.
During this quarter, the North American segment generated 14% of overall revenue. This was significantly outpaced by Africa and the Middle East, which collectively accounted for 63%, followed by Europe at 20%, and the Asia-Pacific and Latin American regions contributing 2% and 1%, respectively.
