bet-at-home AG has reported encouraging results for its first quarter of 2017.
Key performance indictors for the 12-week period ending March 31, 2017 include:
– Gross betting and gaming revenue up 23.0 percent y-o-y to Euro 37.2 million
– Total betting and gaming volume rose 29.7 percent y-o-y to reach Euro 841.4 million.
– Betting fees and gambling levies increased to Euro 5.4 million (Q1/2016: Euro 3.7 million).
– Expenses related to European Union VAT regulations amounted to Euro 2.4 million (Q1/2016: Euro 2.1 million).
– Net betting and gaming revenue increased 20.2 percent to Euro 29.4 million (Q1/2016: Euro 24.5 million).
– EBT amounted to Euro 4.9 million (Q1/2016: Euro 7.9 million).
– EBITDA was Euro 5.0 million (Q1/2016: Euro 7.5 million).
– Cash and cash equivalents and marketable securities of Euro 106.3 million.
– An increased marketing push, particularly in Germany and Austria, during the the first quarter of 2017 saw a significant marketing spend rise to Euro 14.9 million (Q1/2016: Euro 8.8 million)
– As at 31 March 2017, the bet-at-home.com AG Group had 4.7 million registered customers (31/03/2016: 4.3 million).
– Other operating expenses of Euro 5.6 million (Q1/2016: Euro 4.4 million) were attributed to higher gross betting and gaming revenues.
– Total bet-at-home.com AG group result was Euro 0.3 million (Q1/2016: Euro 0.6 million), a consequence of the gradual repayment of loans granted.
– Group equity increased to Euro 112.9 million (31/12/2016: Euro 109.6 million), resulting in a Group equity ratio of 75.3 percent (31/12/2016: 75.4 percent).
– Liquid assets and current securities in the amount of Euro 106.3 million
– Short-term loans issued to the majority shareholder in the amount of Euro 21.0 million were declared, as Euro 34.0 million have already been repaid.
Looking ahead, the group expects gross betting and gaming revenues to reach Euro 144 million and EBITDA of Euro 34 million and Euro 38 million during the 2017 fiscal year.