VD har ordet

(From Year-End Report 2025)

In November, Fable Media Group refinanced its bond loan,

paving the way for greater financial stability and allowing us to

continue our strategy of rewarding shareholders with quarterly

dividends. Consequently, in December we made another

dividend distribution, this time amounting to SEK 0.15 per

share, totalling SEK 5.1 million. On an annualised basis, this

represented a dividend yield of approximately 13% at the time

of distribution. We retain the ambition to increase dividends over

time, with the aim of distributing 60–80% of the Group’s net profit

to shareholders for the current financial year. Accordingly, we

intend to propose a new round of dividends shortly.

In Q4, the Group reported net sales of SEK 16.0 million and

EBITDA of SEK 11.3 million, supported by SEK 1.3 million

in positive foreign exchange effects related to discontinued

operations. To provide a better understanding of underlying

financial performance, we have updated our KPI definitions and

introduced Adjusted EBITDA as an additional measure, which

amounted to SEK 10.0 million for the fourth quarter. For the full

year 2025, the Group reported net sales of SEK 65.5 million, while

EBITDA totalled SEK 46.2 million and Adjusted EBITDA reached

SEK 42.2 million.

At first glance, this represents a decrease compared with last

year. However, this is largely explained by the legislative changes

in the Brazilian market at the beginning of 2025, which negatively

affected Fable Media Group and the industry as a whole. The

depreciation of major currencies versus the Swedish krona also

weighed on our reported SEK figures.

Nevertheless, we continue to demonstrate strong underlying

growth in markets other than Brazil, as net sales excluding Brazil

grew by 18% during the fourth quarter.

Furthermore, 2026 is set to be an exciting year for sports, with

the Winter Olympics currently underway and the FIFA World Cup

taking place in North America during the summer. From a sports

betting perspective, especially the latter is one of the biggest

events globally, and we expect it to provide a significant boost to

our business.

Additionally, early this year, our team successfully negotiated

improved agreements with several key partners, supporting

continued growth, and we are already seeing the benefits. As a

result, we anticipate a significant increase in referred First Time

Depositors in Q1 2026 compared with Q4 2025.

Taking the above into account, we expect continued positive

financial momentum. Accordingly, for the full year 2026, Fable

Media Group forecasts net sales of SEK 70–85 million and

Adjusted EBITDA of SEK 45–55 million. Combined with continued

strong quarterly dividends, this should further strengthen the

Company’s investment appeal.

Alexander Pettersson
CEO, Fable Media Group AB