Core Insights - Super Group (SGHC) reported a strong performance in 2025, with record customer activity and profitability gains, following its strategic exit from U.S. iGaming [2][5] - The company anticipates continued organic growth in 2026, projecting revenue of at least $2.55 billion and Adjusted EBITDA exceeding $680 million, supported by operating leverage and the FIFA World Cup [3][16] Financial Performance - For 2025, Super Group achieved revenue of $2.2 billion, a 22% increase year-over-year, and Adjusted EBITDA of $560 million, up 57% with a margin of approximately 25% [5][8] - In Q4 2025, total revenue rose 8% year-over-year to $578 million, while Adjusted EBITDA increased 11% to $139 million, driven by strong casino momentum and an active sports calendar [9][10] Strategic Initiatives - The company completed the Apricot transaction, bringing sportsbook technology in-house, which is expected to yield annualized savings of around $35 million [4][13] - The launch of the ZAR Supercoin in South Africa marks an early step in developing a broader digital payments infrastructure [1][14] Regional Performance - In Europe, Q4 revenue increased by 23% year-over-year, with the U.K. leading at a 37% growth rate [6] - Africa saw a 27% revenue growth for the full year, with Botswana outperforming and South Africa achieving strong wagering growth [6] - North America, excluding the U.S., grew by 10%, with Canada ex-Ontario increasing by 15% [7] Capital Returns and Shareholder Value - The company returned $156 million to shareholders in 2025, including a special dividend exceeding $125 million [11][12] - The minimum quarterly dividend target was raised from $0.04 to $0.05 per share, with the first payment expected at the end of March [12] Future Outlook - Management expects 2026 to start strongly, with active customer numbers higher than the previous quarter, and anticipates continued engagement and benefits from the FIFA World Cup [15][16] - The company is exploring expansion opportunities in Africa, with Namibia included in the 2026 guidance [18]

Core Insights - The company reported a strong performance in 2025, with total revenue reaching $2.2 billion, a 22% increase year-over-year, and adjusted EBITDA increasing by 57% to $560 million, resulting in a margin of approximately 25% compared to 19% in the previous year [8][10] - Monthly active customers reached an all-time high of 6.1 million, reflecting a 16% increase from the same period in 2024, indicating strong customer engagement and retention [9][10] - The company expects continued growth in 2026, projecting total revenue of at least $2.55 billion and adjusted EBITDA of over $680 million, driven by organic growth and customer engagement [11][12] Africa Performance - Africa experienced a 27% growth for the full year against 2024, with Botswana outperforming and South Africa showing strong wagering growth and record casino volumes [1] - Sports wagers in Africa grew by 31% year-over-year, while casino wagers increased by 52%, highlighting the region's strong growth potential [1] - The company is assessing its strategy in Nigeria, indicating ongoing operational focus in the region [1][27] North America and Europe Performance - North America, excluding the US, grew by 10%, with Canada (excluding Ontario) increasing by 15% due to strong customer retention and product rollout [5] - Europe saw a 23% revenue growth year-over-year, led by a 37% increase in the UK, while Spain and Germany also reported positive revenue growth [2] Technology and Operational Enhancements - The company received final regulatory approval for the Apricot transaction, which enhances its Sportsbook technology platform and is expected to yield cost savings [2][41] - AI-driven hyper-personalized bet pricing is being implemented to improve trading efficiency and customer engagement [6] - The launch of ZAR Supercoin in South Africa is expected to enhance customer engagement and streamline payment processes [6][7] Financial Discipline and Shareholder Returns - The company returned $156 million to shareholders in 2025, including a special dividend of $125 million, reflecting strong cash generation and commitment to shareholder returns [10][11] - The company maintains a disciplined capital allocation strategy, focusing on organic growth while being selective in potential M&A opportunities [31][32] Future Outlook - The company is optimistic about the upcoming FIFA World Cup, which is expected to drive customer engagement and revenue growth [11][39] - Guidance for 2026 includes considerations for UK tax increases and local regulations in Alberta, with a focus on maintaining operational efficiencies [12][25]

Financial Data and Key Metrics Changes - Total revenue for 2025 reached $2.2 billion, reflecting a 22% increase compared to the previous year [10] - Adjusted EBITDA increased by 57% year-over-year to $560 million, representing a margin of around 25% [10] - Q4 total revenue grew 8% to $578 million, with Adjusted EBITDA up 11% to $139 million [10] - Average monthly active customers reached an all-time high of 6.1 million for the quarter, a 16% increase from the same period in 2024 [11] - Cash at year-end was $513 million, up 32% year-over-year [11] Business Line Data and Key Metrics Changes - Sports wagers grew by 20% year-over-year, while casino wagers increased by 17% [10] - Africa's revenue grew 27% for the full year against 2024, with Botswana outperforming since launch and South Africa showing strong wagering growth [6] - North America, excluding the U.S., grew 10%, with Canada ex Ontario increasing by 15% [7] - APAC revenue rose 6% year-over-year, despite a 5% dip in New Zealand [8] Market Data and Key Metrics Changes - Europe saw strong revenue growth of 23% year-over-year, led by a 37% increase in the U.K. [6] - In Spain, revenue grew 5% due to strong retention and product improvements [6] - Africa's growth was supported by a 31% increase in sports wagers and a 32% increase in casino wagers year-over-year [7] Company Strategy and Development Direction - The company refined its portfolio by exiting USi Gaming to focus on markets with clear advantages [5] - Plans to expand into new African territories and enhance sportsbook technology through the Apricot transaction [6][34] - The launch of ZAR Supercoin in South Africa is part of a broader digital payments infrastructure strategy [5][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong start to 2026, with guidance for total revenue of at least $2.55 billion and Adjusted EBITDA of more than $680 million [12] - The company is preparing for regulatory changes in Alberta and expects to leverage lessons learned from Ontario [43] - Management highlighted the importance of customer engagement and operational efficiency in navigating market challenges [27][80] Other Important Information - The board approved an increase in the minimum quarterly dividend target from $0.04 to $0.05 per share [13] - The company returned $156 million to shareholders in 2025, including a special dividend of over $125 million [12] Q&A Session Summary Question: Impact of customer-friendly outcomes in December - Management estimated a $20 million EBITDA impact from favorable sports outcomes in December, which flowed into January results [17] Question: Charitable initiatives with Betway Cares - Betway Cares focuses on community initiatives in South Africa, including clean drinking water and sports development [21] Question: Tax changes in South Africa - No new updates; operators are expected to submit responses to the government paper by the end of February [27] Question: M&A considerations - The company is selective with M&A, focusing on opportunities that improve technology or market position without overpaying [40] Question: Strategy in Alberta - The company is ready for Alberta's regulation in Q2 2026, applying lessons learned from Ontario to enhance customer migration [43] Question: Risks associated with guidance - Risks include regulatory shifts and sports margin normalization, but management remains confident in achieving guidance [78][80]

Financial Data and Key Metrics Changes - Total revenue for 2025 reached $2.2 billion, reflecting a 22% increase compared to the previous year [10] - Adjusted EBITDA increased by 57% year-over-year to $560 million, representing a margin of around 25% [10] - Q4 total revenue grew 8% to $578 million, with Adjusted EBITDA up 11% to $139 million [10] - Average monthly active customers reached an all-time high of 6.1 million for the quarter, a 16% increase from the same period in 2024 [11] - Cash at year-end was $513 million, up 32% year-over-year [11] Business Line Data and Key Metrics Changes - Africa's revenue grew 27% for the full year against 2024, with Botswana outperforming since launch and South Africa showing strong wagering growth [6] - Monthly active customers exceeded 6 million, with significant growth in sports wagers (31%) and casino wagers (32%) year-over-year in Africa [7] - North America, excluding the U.S., grew 10%, with Canada ex-Ontario increasing 15% [7] - APAC revenue rose 6% year-over-year, despite a 5% dip in New Zealand [8] Market Data and Key Metrics Changes - Europe saw strong revenue growth of 23% year-over-year, led by a 37% increase in the U.K. [6] - In Spain, revenue grew 5% due to strong retention and product improvements [6] - North America, excluding the U.S., showed a 10% growth, with Ontario experiencing record engagement and deposits [7] Company Strategy and Development Direction - The company refined its portfolio by exiting U.S. iGaming to focus on markets with clear advantages [5] - Plans to expand into new African territories and leverage the upcoming FIFA World Cup for global engagement [15] - The launch of ZAR Supercoin in South Africa is part of a broader digital payments infrastructure strategy [5][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing customer momentum and operational efficiencies [11] - Guidance for 2026 includes total revenue of at least $2.55 billion and Adjusted EBITDA of more than $680 million, reflecting organic growth and customer engagement [12] - Management acknowledged potential risks from regulatory changes and emphasized a conservative approach to guidance [81] Other Important Information - The company returned $156 million to shareholders in 2025, including a special dividend of over $125 million [12] - The board approved an increase in the minimum quarterly dividend target from $0.04 to $0.05 per share [13] Q&A Session Summary Question: Impact of customer-friendly outcomes in December - Management estimated a $20 million EBITDA impact from favorable sports outcomes in December, which flowed into January [17] Question: Charitable initiatives with Betway Cares - Betway Cares focuses on community initiatives in South Africa, including clean drinking water and sports development [21] Question: Tax changes in South Africa - No new updates; operators are expected to submit responses to the government paper by the end of February [27] Question: M&A considerations - The company is selective with M&A, focusing on opportunities that improve technology or market position without overpaying [40] Question: Strategy in Alberta - Alberta is expected to regulate in Q2 2026, with lessons learned from Ontario being applied to improve performance [44] Question: Risks associated with guidance - Risks include regulatory shifts and sports results normalizing, which have been factored into the guidance [81]

Financial Data and Key Metrics Changes - Total revenue for 2025 reached $2.2 billion, reflecting a 22% increase year-over-year [10] - Adjusted EBITDA increased by 57% year-over-year to $560 million, representing a margin of approximately 25% compared to 9%-19% in the prior year [10] - Q4 total revenue grew 8% to $578 million, with Adjusted EBITDA up 11% to $139 million [10] - Average monthly active customers reached an all-time high of 6.1 million for the quarter, a 16% increase from the same period in 2024 [11] - Cash at year-end was $513 million, up 32% year-over-year [11] Business Line Data and Key Metrics Changes - Africa's revenue grew 27% for the full year against 2024, with Botswana outperforming since launch and South Africa showing strong wagering growth [5] - Sports wagers in Africa grew by 31% and casino wagers by 32% year-over-year [6] - North America, excluding the U.S., grew 10%, with Canada ex Ontario increasing by 15% [6] - APAC revenue rose 6% year-over-year, despite a 5% dip in New Zealand [7] Market Data and Key Metrics Changes - Europe saw strong revenue growth of 23% year-over-year, led by a 37% increase in the U.K. [5] - In Spain, revenue grew 5% due to strong retention and product improvements [5] - North America, excluding the U.S., grew 10% [6] - Africa's growth was supported by high brand loyalty and customer momentum [6] Company Strategy and Development Direction - The company refined its portfolio by exiting USi Gaming to focus on markets with clear advantages [4] - Plans to explore expansion into new African territories and capitalize on the upcoming FIFA World Cup [14] - The launch of ZAR Supercoin in South Africa is part of a broader digital payments infrastructure strategy [4][9] - The company aims to maintain operational efficiencies and marketing discipline while preparing for regulatory changes in various markets [12][27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate regulatory changes and maintain growth momentum [27][79] - The guidance for 2026 includes total revenue of at least $2.55 billion and Adjusted EBITDA of more than $680 million, reflecting organic growth and customer engagement [12] - Management highlighted the importance of customer engagement and the potential impact of the World Cup on business performance [56][68] Other Important Information - The company returned $156 million to shareholders in 2025, including a special dividend of over $125 million [11] - The board approved an increase in the minimum quarterly dividend target from $0.04 to $0.05 per share [13] - The company is focused on improving customer engagement through AI-driven enhancements and promotional mechanics [8] Q&A Session Summary Question: Impact of customer-friendly outcomes in December - Management estimated a $20 million EBITDA impact from favorable sports outcomes in December, which flowed into January [16] Question: Charitable initiatives with Betway Cares - Betway Cares focuses on community initiatives in South Africa, including clean drinking water and sports development [20] Question: Tax changes in South Africa - No new updates; operators are expected to submit responses to the government paper by the end of February [27] Question: Expansion plans in Nigeria - The company is assessing its strategy in Nigeria and expects low single-digit World Cup tailwinds [34] Question: M&A considerations - The company is selective with M&A, focusing on opportunities that improve technology or market position without overpaying [40] Question: Strategy in Alberta - Alberta is expected to regulate in Q2 2026, with lessons learned from Ontario being applied to improve performance [42] Question: Risks associated with guidance - Risks include regulatory shifts and sports margin normalization, but management remains confident in achieving guidance [78]

4Q 2025 Earnings Review February 23, 2026 DISCLAIMERS Forward-Looking Statements Certain statements made in this presentation are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, Super Group's intention to pay a dividend, including the expected timing of such dividend, expectations and projections of market opportunity, growth and profitabili ...

Super Group (NYSE: SGHC), owners of Betway, just launched ZAR Supercoin, the first Rand-based stablecoin for South Africa. https://t.co/9g1J9pj1W7 ...