Normalised revenue was EUR 14.2m (SEBE 14.9m) and EBITDA EUR 4.1m (SEBE 4.3m). Company reports that restructuring in Sportbetting has been finalized in Q4 and that January showed 40% growth y/y, which was in line with our estimate for full Q1. We don't expect any material estimate revisions from the numbers as overall trajectory looks intact, and we find it encouraging that the company targets EBITDA margin <40% by 2025 far above current 29% level.
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