30.07.2018
bet-at-home.com AG DE000A0DNAY5
DGAP-News: bet-at-home.com AG: gross betting and gaming revenue in the first half of 2018 at EUR 66.6 million - EBITDA of EUR 10.9 million by high investments in marketing
DGAP-News: bet-at-home.com AG / Key word(s): Half Year Results
bet-at-home.com AG: gross betting and gaming revenue in the first half of
2018 at EUR 66.6 million - EBITDA of EUR 10.9 million by high investments in
marketing
30.07.2018 / 10:00
The issuer is solely responsible for the content of this announcement.
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Group figures for the first half-year 2018 (1 January to 30 June 2018):
* gross betting and gaming revenue at EUR 66.6 million (H1 2017: EUR 76.8
million)
* EBITDA in H1 2018 at EUR 10.9 million - EUR 1.6 million thereof in Q2
2018
* liquid funds and short-term time deposits at EUR 61.6 million
Dusseldorf, 30 July 2018. During the Football World Cup 2018 in Russia, the
listed online sports betting and online gaming provider once again focused
its marketing efforts on successfully acquiring new customers in the first
half of the financial year 2018 in order to continue its path of success and
the growth momentum of the previous reporting periods.
Gross betting and gaming revenue impacted by declining revenue in Poland:
Gross betting and gaming revenue was EUR 66.6 million in the first half of
2018, down 13.3% on the same period last year (H1 2017: EUR 76.8 million).
The betting and gaming volume in the bet-at-home.com AG Group totaled EUR
1,504.3 million in the reporting period (H1 2017: EUR 1,688.6 million). The
main reason for the decline in gross betting and gaming revenue has been
blocking measures to exclude foreign betting and gaming operators in Poland
since July 2017, which are considered as a violation of European
legislation.
Betting fees and gaming levies in the first half of 2018, at EUR 9.9
million, were lower than in the same period of the previous year (H1 2017:
EUR 10.1 million), also reflecting the decline in gross betting and gaming
revenue. The VAT on electronic services within the European Union led to a
negative impact on earnings of EUR 4.5 million in the first six months of
the financial year 2018 (H1 2017: EUR 5.2 million).
Accordingly, net betting and gaming revenue amounted to EUR 52.2 million (H1
2017: EUR 61.5 million).
Strengthening of the popularity of the brand and development of the customer
base:
In the course of the Football World Cup in Russia from 14 June to 15 July,
bet-at-home.com was increasingly present from May 2018 through international
advertising campaigns in the form of TV spots, posters and online media as
well as a comprehensive bonus campaigns throughout Europe. A major event of
this magnitude has always been the ideal time for bet-at-home.com to
sustainably increase the number of registered customers.
As a result, marketing expenses in the first half of 2018 are as planned at
EUR 21.2 million (H1 2017: EUR 24.2 million), with the marketing focus being
set at EUR 13.5 million in the second quarter of 2018 due to the major
sporting event (Q2 2017: EUR 9.3 million). As at 30 June 2018, the
bet-at-home.com AG Group had nearly 5.0 million registered customers
(30.06.2017: 4.7 million).
Other operating expenses amounted to EUR 11.1 million in the first half of
2018, which was below the previous year's level (H1 2017: EUR 11.4 million).
Earnings development in the first half of 2018:
With continued high investments in marketing during the Football World Cup
2018, an EBITDA of EUR 10.9 million was generated in the first half of 2018
(H1 2017: EUR 17.4 million). EBITDA in the second quarter of 2018 delivered
a positive contribution to earnings of EUR 1.6 million despite the marketing
focus during this period. The EBIT in the first six months of the financial
year 2018 amounts to EUR 10.3 million, which is EUR 6.4 million below the
reference value of the previous year (H1 2017: EUR 16.7 million). Earnings
before taxes (EBT) therefore amounted to EUR 10.3 million in the first half
of 2018 (H1 2017: EUR 17.2 million).
Stable asset and capital structure:
Taking into account the equity-reducing distribution of a dividend in May
2018 in the amount of EUR 52.6 million - thus EUR 7.50 per share - the
consolidated equity as of 30 June 2018 amounts to EUR 43.0 million (31
December 2017: EUR 89.3 million). This resulted in a consolidated equity
ratio of 50.5% as of the reporting date (31 December 2017: 71.8%).
The bet-at-home.com AG Group also held liquid funds and short-term time
deposits in the amount of EUR 61.6 million as of 30 June 2018 (31 December
2017: EUR 101.8 million).
Outlook for fiscal year 2018:
From the current perspective, and assuming an unchanged regulatory and tax
law environment, the Management Board expects gross betting and gaming
revenue increasing to EUR 150 million in the 2018 fiscal year. Furthermore,
the Management Board assumes EBITDA to reach a level between EUR 36 million
and EUR 40 million in 2018.
About bet-at-home.com:
The bet-at-home.com AG Group is active in the domain of online gaming and
online sports betting. With 5.0 million registered customers throughout the
world, the company (which is listed on the Frankfurt stock exchange)
represents, together with its subsidiaries, one of Europe's most successful
gaming providers. The varied options offered on www.bet-at-home.com include
sports betting, poker, casino, games and virtual sports. bet-at-home.com has
companies in Germany, Austria, Malta and Gibraltar. The successful
development of the company can be attributed to its 299 employees as at 30
June 2018. The Group holds various licences via its Maltese companies for
online sports betting and gaming. The licences allow the company to organise
and market online sports betting and online casinos. Since 2009,
bet-at-home.com AG has been a part of the Betclic Everest SAS Group, which
is a leading French Group in the domain of online gaming and sports betting.
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30.07.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: bet-at-home.com AG
Tersteegenstrasse 30
40474 Düsseldorf
Germany
Phone: +49 211 17934 770
Fax: +49 211 17934 757
E-mail: [email protected]
Internet: www.bet-at-home.ag
ISIN: DE000A0DNAY5
WKN: A0DNAY
Listed: Regulated Market in Frankfurt; Regulated Unofficial Market
in Berlin, Hamburg, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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708979 30.07.2018
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