Super Group (SGHC) Limited reported full‑year 2025 results that surpassed expectations, with total revenue of $2,231 million, up 21% from $1,835 million in 2024. Net income rose to $217 million, a 76% increase from $123 million the previous year, and basic earnings per share reached $0.4304, compared with $0.2448 a year earlier. The company’s adjusted EBITDA margin settled at approximately 25%, reflecting a significant improvement from the 19% margin recorded in 2024.
Revenue growth was driven by strong performance in Africa and Europe, where the company expanded its customer base and launched new markets in Botswana and the United Kingdom. The focus on high‑margin markets and disciplined capital allocation helped offset any pressure from legacy sports betting segments, resulting in a robust top‑line increase. The company’s strategic exit from the U.S. iGaming market also freed resources that were redirected toward core regions, further supporting revenue momentum.
The jump in net income and the expansion of the adjusted EBITDA margin can be attributed to a favorable mix shift toward higher‑margin products and improved operating leverage. Cost control initiatives and efficient scaling of the business contributed to the margin lift, while the company maintained disciplined spending on marketing and technology investments. The 25% margin represents a 6‑percentage‑point improvement over the prior year, underscoring the effectiveness of the company’s operational strategy.
Looking ahead, Super Group guided for 2026 revenue of at least $2.55 billion and adjusted EBITDA in excess of $680 million. The guidance signals management’s confidence in sustaining growth and profitability, building on the momentum generated by the 2025 results. The company’s outlook reflects a continued focus on core markets and the expectation of further operational efficiencies.
Management highlighted a few headwinds, including unfavorable sports outcomes late in the quarter that impacted sports hold, but emphasized tailwinds such as the strategic exit from the U.S. market, record customer growth, and operating leverage gains. These factors collectively reinforce the company’s resilience and its ability to navigate market fluctuations while pursuing expansion.
Additional corporate actions noted in the filing include a change in presentation currency from euros to U.S. dollars effective January 1, 2025; an increase in the minimum quarterly dividend target to 5.0 cents per share; the establishment of a $100 million senior multi‑currency revolving credit facility in early 2026; and insider selling by the CFO and CEO in early April 2026 to cover tax withholding obligations on vested awards.
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