Svenska Spel takes 2022 hit to operating profit as World Cup impacts Q4

Svenska Spel reports 2022 results
Image: Shutterstock

Svenska Spel, operator of the Swedish National Lottery, has published its financial results for 2022, revealing its operating profit has fallen from the previous year.

The group reported an operating profit of SEK 2.38m [£185,920] for the latest full year, down 2% on 2021’s profit of SEK2.46m. The Q4 operating profit of SEK 580m [£45.3m] is also a drop of 3% from the same period in 2021 (SEK 601m).

This was partly facilitated by a 2% decrease in net gaming revenue (NGR) for the same quarter to SEK 2.18m [£170,297] (Q42021: SEK 2.23m), contributing to a full-year NGR decline of 1% to SEK 8.03m [£627,287] (2021: SEK 8.14m).

NGR for the sport & casino division also decreased by 8% compared to the previous Q4, affected by a stronger emphasis on responsible gaming measures. The lower customer interest in the FIFA Men’s World Cup also registered a negative impact on the operator, with the absence of Sweden in the tournament playing its part.

But Svenska Spel has chosen to focus its energy on the new gaming experiences it introduced last year, such as the opportunity to swipe a Triss as a gift and the launch of its first digital Christmas calendar, which strengthened the total sales of Triss calendars YoY.

The group launched 13 new digital lotteries during the course of the year, distributing 76 million winnings on number games and lotteries in Q4 with a total value of more than SEK 185m [£14.4m]. For the full year, this means 282 million winnings from number games and lotteries with a total value of more than SEK 782m [£61m].

Svenska Spel’s board has also communicated its intention to propose a dividend to the owner of SEK 2bn [£156.2m].

“That our surplus goes back to the Swedish people is one of the reasons why we are all of Sweden’s gaming company,” said Patrik Hofbauer, President and CEO.

“During the 25 years that Svenska Spel has existed, together with our customers, we have contributed over SEK 100bn to the state treasury.”