Winvia Entertainment (LON: WVIA), which runs online prize-draw competitions including Best of the Best alongside an online gaming business, upgraded full-year Adjusted EBITDA guidance today above current market expectations. Shares jumped 8.08% in response, and the group also declared a 5.0p per share interim dividend as half-year profit surged.
Winvia shares rose from Friday’s close of 247.5p to 267.5p today, having opened at 257.5p after the pre-market results. Adjusted EBITDA, a measure of underlying operating profit, rose 7.5% to £17.2m for the six months to the 30th of June, from £16.0m a year earlier.
The jump masks a deliberate strategic shift. Winvia increased marketing and prize spend in Prize Draw Competitions to £14.0m, from £2.6m a year earlier, pushing that segment to a £1.0m Adjusted EBITDA loss versus a £6.2m profit in HY25. The spending shifted Best of the Best towards a recurring subscription model, BOTB Pass, with subscription revenue reaching over 35% of monthly BOTB revenue by the 30th of June, enough to cover all prize costs, a milestone reached ahead of schedule.
The payoff is already visible: the segment posted its best-ever monthly Adjusted EBITDA in August and is expected to trend near £2m a month in the fourth quarter. Online Gaming, the group’s other segment, kept growing profitably, with revenue up 54.6% to £88.7m and Adjusted EBITDA up 96.2% to £20.4m. Group net revenue rose 42.7% to £109.7m.
Mihai Manoila, Chief Executive Officer of Winvia Entertainment, said the results reflected momentum built over the period.
Winvia delivered a strong first half, maintaining the positive trajectory with which we entered the year. The investments made in Prize Draw Competitions, alongside the continued strength and cash generation of Online Gaming, have positioned the Group well for the second half and beyond. We are confident that current momentum will continue and accordingly we are pleased to be upgrading full year expectations.
Mihai Manoila, Chief Executive Officer, Winvia Entertainment
Winvia is also expanding by acquisition, completing the purchase of Rev Comps on the 3rd of July and agreeing on Friday to buy The Giveaway Guys and Win Life Competitions for £19.1m, with completion expected by end of October. The interim results are unaudited and unreviewed, and the group faces an unresolved question over whether UK VAT applies to prize-draw ticket sales at two of its brands, with HMRC reviewing the matter.