ACX Bet-at-home.com AG

DGAP-News: bet-at-home.com AG: Significant increase in earnings in the third quarter of 2018 - EBITDA in Q3 at EUR 13.0 million

DGAP-News: bet-at-home.com AG / Key word(s): Quarterly / Interim Statement
bet-at-home.com AG: Significant increase in earnings in the third quarter of 2018 - EBITDA in Q3 at EUR 13.0 million

05.11.2018 / 10:00
The issuer is solely responsible for the content of this announcement.


Group figures for the first three quarters of 2018 (1 January to 30 September 2018):
  • Historical EBITDA peak in the third quarter of 2018 at EUR 13.0 million - accumulated at EUR 23.9 million
  • Gross betting and gaming revenue of EUR 37.6 million in the third quarter - accumulated at EUR 104.2 million
  • Cash and short-term time deposits at EUR 67.0 million
 
Dusseldorf, 5 November 2018
 
Significantly positive earnings development in the third quarter of 2018:
At EUR 13.0 million, EBITDA in the third quarter of the financial year 2018 increased significantly in relation to previous periods, thus reaching the highest record in the history of bet-at-home.com AG Group (Q1 2018: EUR 9.3 million, Q2 2018: EUR 1.6 million). As a result of the intensified marketing measures in Q2 2018 as part of the Football World Cup, the focus in Q3 2018 was on the planned increase in earnings strength through the successful acquisition of new customers before and during the major sporting event. In the first nine months of the financial year 2018, this corresponds to an EBITDA of EUR 23.9 million (Q1-Q3 2017: EUR 25.4 million).
 
Due to constant depreciation in the first three quarters of the financial year 2018, EBIT amounts to EUR 22.9 million (Q1-Q3 2017: EUR 24.4 million). After three quarters, earnings before taxes (EBT) amounted to EUR 23.0 million (Q1-Q3 2017: EUR 24.9 million), with the third quarter of 2018 contributing EUR 12.6 million to earnings.
 
 
Strong increase in gross betting and gaming revenue in the third quarter of 2018:
With a betting and gaming volume of EUR 2,305.1 million in the first three quarters of 2018, gross betting and gaming revenues in the first nine months of the financial year 2018 amounted to EUR 104.2 million (Q1-Q3 2017: EUR 108.7 million). As a result, gross betting and gaming revenues in Q3 2018 amounted to EUR 37.6 million and thus increased significantly in relation to the same period of the previous year (Q3 2017: EUR 31.9 million) and in previous periods (Q1 2018: EUR 33.2 million, Q2 2018: EUR 33.4 million).
 
Betting fees and gambling levies in the first three quarters of 2018 amounted to EUR 15.2 million (Q1-Q3 2017: EUR 14.5 million). The VAT regulations for suppliers of electronic services within the European Union led to a negative impact on earnings in the amount of EUR 5.9 million in the first nine months of the financial year 2018 (Q1-Q3 2017: EUR 6.8 million).
 
The net betting and gaming revenue in the first nine months of the financial year 2018 results in EUR 83.2 million (Q1-Q3 2017: EUR 87.4 million).
 
 
Further strengthening brand awareness and expanding 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 campaign throughout Europe. A major event of this magnitude has always been the ideal time for bet-at-home.com with regard to acquiring new customers and reactivating existing customers.
 
As a result, marketing expenses in the first three quarters are as planned at EUR 29.3 million (Q1-Q3 2017: EUR 32.7 million), with the marketing focus being set at EUR 13.5 million in the second quarter of 2018 due to the major sporting event. As at 30 September 2018, bet-at-home.com AG group had nearly 5.0 million registered customers (30 September 2017: 4.8 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 group equity as of 30 September 2018 amounts to EUR 51.1 million (31 December 2017: EUR 89.3 million). This resulted in a consolidated equity ratio of 58.7% as of the reporting date (31 December 2017: 71.7%).
 
The bet-at-home.com AG Group also held liquid funds and short-term time deposits in the amount of EUR 67.0 million as of 30 September 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 fiscal year 2018. Furthermore, the Management Board assumes EBITDA to reach a level between EUR 36 million and EUR 40 million in 2018.
 
 
Group quarterly statement for the first three quarters of 2018:
The detailed Group quarterly statement can be downloaded on the Group's Investor Relations
website at .
 
 
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 -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 301 employees as at 30 September 2018. The Group holds various licenses via its Maltese companies for online sports betting and gaming. The licenses allow the company to organize 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.


05.11.2018 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.
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Language: English
Company: bet-at-home.com AG
Tersteegenstrasse 30
40474 Düsseldorf
Germany
Phone: 70
Fax: 57
E-mail:
Internet: -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

740961  05.11.2018 

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05/11/2018

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