Bet-at-Home pleased with FY 2016 performance
News on 6 Mar 2017
News on 6 Mar 2017
bet-at-home.com AG reported a robust full year 2016 performance in its latest fiscal report despite the impact of increased betting fees and levies.
Key performance highlights include a rise of 14 percent in gross betting and gaming revenue to Euro 138.7 million and a 3.5 percent increase in earnings before taxes of Euro 34.1 million.
EBITDA amounted to Euro 33.0 million, up Euro 1.3 million over its full year 2015 period while EBIT rose by Euro 1.1 million Euro 31.9 million (FY 2015: Euro 30.8 million).
Consolidated profit for 2016 increased to Euro 31.0 million (FY 2015: EUR 30.7 million).
Gaming volume amounted to Euro 2,926.2 million (FY 2015: EUR 2,410.8 million), a 21.4 rise over the previous full year period.
Stepping up its marketing strategy and spend during the European Football Championship in France resulted in a sustainable increase in registered customers, the company said, further strengthening the brand through international advertising campaigns which included TV spots, posters and online media as well as an extensive bonus campaign especially in the second and third quarter of 2016.
In 2016, total marketing costs amounted to Euro 44.0 million, a 20.6 percent increase over the previous year and a rise in registered customers of 300,000.
Wrapping up, bet-at-home.com AG Group reported liquid funds and securities at December 31, 2016 of Euro 91.8 million which contained Euro 26.0 million from repayments of the short-term loan issued to the majority shareholder of bet-at-home.com AG.
Looking ahead, gross betting and gaming revenue amounting to Euro 144 million in the 2017 fiscal year are expected along with EBITDA of between Euro 34 million and Euro 38 million.
