Super Group (SGHC) Ltd

Thank you for standing by and welcome to the Supergroup first quarter 2026 earnings webcast and conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, again, press star one. Thank you. I'd now like to turn the call over to Nekem Ojibwe, Head of Investor Relations. You may begin.

Good morning, everyone, and thank you for joining us today to discuss Supergroup's results for the first quarter 2026. During this call, Supergroup may make comments of a forward-looking nature that is subject to risk, or to entities and other factors discussed further in its SEC filings that could cause the actual results to differ materially from historical results or from our forecast. We assume no responsibility to update forward-looking statements other than as required by law. on today's call, we may refer to certain non-GAAP financial measures. These non-GAAP financial measures are in addition to and not a substitute for measures of financial performance prepared in accordance with GAAP. We have provided a reconciliation of the non-GAAP financial measures to the most comparable GAAP figures in the press release issued yesterday and available on the investor relations page on our website. who recommend that investors refer to the supplementary presentation posted to our website. Today, I'm joined by Neil Menashe, Chief Executive Officer, and Alinda Von Vaid, Chief Financial Officer. After our prepared remarks, we will open the call for questions. And now, I'd like to turn the call over to Neil.

Thank you, Inc., and good morning, everyone. The first quarter of 2026 marked a record-breaking start for Supergroup. We deliver all-time high quarterly revenue and unprecedented monthly active customers. Deposits and wagering also reach peak levels, extending our Q4 momentum. These results reflect the strength of our strategy, our brand, and our people. As our business evolves, so does our reporting. We are introducing a new reporting structure consisting of two segments. Africa and international. Africa includes all revenue generated across the African continent, while international includes all revenue generated outside of Africa. This new approach highlights the distinct operating models across our four regions, providing shareholders with deeper insight into each unit's drivers and growth potential. The executors responsible for these segments remain unchanged. Africa delivered an excellent QY. Revenue for the quarter grew 53% year over year, with adjusted EBITDA up 21% to $98 million. Sports and casino wages were up 33% and 36%, respectively, year over year. Botswana continues to perform well. I recently spent time on the ground with our team in Nigeria, and the actions we're taking there will strengthen our growth profile as we ramp up execution. The phase rollout of our ZAR Supercoin consumer wallet began in mid-April with a soft beta launch for our Betway South Africa customers. Our goal is simple. Expand utility and gradually increase customer engagement across our ecosystems. We will reach a key milestone late in the quarter with additional listings on OVEX and Vela, two of the largest exchanges in South Africa. These listings significantly enhance liquidity and accessibility and provide a solid foundation for broader adoption as we optimize engagement and unit economics. For the international segment, revenue was up 9% with adjusted EBITDA growing 26% to $73 million. European revenue growth of 18% year-over-year was strongly driven by a 29% increase in the UK, where we are capturing market share thanks to record customer acquisition off the back of continued product improvement and a successful Cheltenham Festival. We remain encouraged by Ireland's growth of 13%, with local regulation expected in the second half of this year. In North America, Canada ex-Ontario delivered 16% revenue growth, supported by retention and product enhancements. Despite an increasingly competitive environment, Ontario achieved a post-regulation record for new customers. Alberta, up 22% year-over-year, remains on track for local regulation in July with a fade and regimen brand rollout. Overall, North America, excluding the U.S., grew 15%. Rest of the world saw revenue growth of 8%, with New Zealand growing 6% year over year, which is particularly encouraging after last quarter's 5% decline. We remain disciplined while we await the anticipated local regulations framework. Overall, our sports business continues to enjoy strong margins. We are fortifying our sports trading and risk management capabilities ahead of the World Cup, This quarter we implemented targeted changes to materially improve margin resilience within our promotional mechanics, pricing, and payout structures. These measures proved their value in February, which was a particularly challenging month for sports due to customer-friendly outcomes. Meanwhile, our casino business remains the super reliable, steady, and constant engine of Supergroup. We don't take this for granted. We continue to. innovate, extend, and improve in numerous and meaningful ways. We have made it easier for our customers to discover content. We are personalizing their experiences and we are stepping up gamification and engagement. The result is targeted product and incentive management that delivers strong retention and responsible, consistent, and profitable customer behavior. Net effect, a business where 80% of our revenue is driven by predictable, high-quality, and super-persistent annuity revenue streams that offer shareholders unwavering reliability and confidence. With that, I'll turn it over to Alinda.