Bet-at-Home delivers record full year 2017 results
News on 5 Mar 2018
News on 5 Mar 2018
bet-at-home.com AG has reported a strong performance in its full year 2017 results despite significant headwinds.
The company attributes its success to investments in marketing and sponsorship initiated to increase brand awareness.
Key performance indicators include:
– Gross betting and gaming revenue increased by 4.8 percent to reach Euro 145.4 million
– Net betting and gaming revenue increased by 4.3 percent to Euro 117.8 million (FY 2016: Euro 112.9 million).
– Gross betting and gaming volumes amounted to Euro 2,174.6 million.
– EBITDA increased by 7.4 percent, to reach Euro 35.5 million.
– EBIT reached Euro 34.1 million (FY 2016: Euro 31.9 million).
– Consolidated profit for 2017 increased to Euro 32.8 million (FY 2016: Euro 31.0 million).
– Betting fees, gambling levies and VAT on electronic services increased by 7.2 percent to Euro 27.6 million compared to the previous period (FY 2016: Euro 25.8 million).
– Cash and cash equivalents and short-term time deposits amounted to Euro 101.8 million
bet-at-home hailed its performance saying it had faced significant headwinds that included the company being blocked in Poland and a rise in gambling taxes.
Looking ahead, the company expects, under existing circumstances, to achieve gross betting and gaming revenues of Euro 150 million and EBITDA of between Euro 36 million and Euro 40 million during 2018.
Bet-At-Home AG’s Management and Supervisory Board will propose the distribution of a total dividend for the 2017 financial year within the range of Euro 6.00 and Euro 8.00 per share to the Annual General Meeting in May 2018. The payment will be effected in May 2018.
