Revenue development in financial year 2020:
The negative revenue impact of the COVID-19 pandemic was clearly noticeable within the bet-at-home.com AG Group with the cancellation or postponement of many leagues and sporting events from mid-March 2020. The gradual resumption of operations, particularly in the national European soccer leagues and international competitions, had a positive impact on the summer months, which are usually relatively weak in terms of revenue, although it was not possible to fully compensate the revenue lost in spring. Irrespective of this, the online gaming segment including casino and live casino was not negatively affected by the pandemic. However, the legal liberalization steps in Germany led to restrictions in the online gaming segment, which had a negative impact on online casino revenues in the core market of Germany. Overall, gross betting and gaming revenue in financial year 2020 amounts to EUR 126.9 million (FY 2019: EUR 143.3 million).
Earnings development in financial year 2020:
At EUR 30.5 million, marketing investments in the financial year 2020 are lower than in the same period of the previous year (FY 2019: EUR 39.8 million). This is mainly due to the postponement of the European Football Championship to 2021 and also to the cancellation and postponement of many sporting events in whose environment advertising activities were planned.
In the financial year 2020, EBITDA of EUR 30.9 million is lower than in the same period of the previous year (FY 2019: EUR 35.2 million). However, the initial EBITDA guidance of EUR 23 million to EUR 27 million for the financial year 2020 was thus significantly exceeded.
Stable asset and capital structure as of December 31, 2020:
As a result of the positive earnings contribution in financial year 2020 and despite the equity-reducing distribution of a dividend in July 2020 in the amount of EUR 14.0 million - i.e. EUR 2.00 per share - consolidated equity increased to a total of EUR 50.9 million as of December 31, 2020 (December 31, 2019: EUR 41.6 million). The consolidated equity ratio thus amounts to 53.5% (December 31, 2019: 43.7%).
The level of cash and short-term time deposits within the bet-at-home.com AG group totaled EUR 56.8 million as of December 31, 2020 (December 31, 2019: EUR 54.8 million).
Dividend proposal:
Management Board and Supervisory Board will propose a dividend of EUR 2.50 per share to the Annual General Meeting on 18 May 2021. This proposed resolution corresponds to a dividend yield of 7.85% based on the year-end share price 2020. The total dividend amounts to EUR 17.5 million.
Outlook for the financial year 2021:
From the current perspective, the Management Board expects a gross betting and gaming revenue between EUR 106 million and EUR 118 million in the financial year 2021. The decline in gross betting and gaming revenue compared to the financial year 2020 is largely attributable to the implementation of legal requirements in connection with the German sports betting license. In addition, requirements imposed by German authorities in the area of casino products have to be met since October 2020, which will have a negative impact on revenue development in the financial year 2021.
Furthermore, the Management Board expects EBITDA to amount between EUR 18 million and EUR 22 million for the financial year 2021.
About bet-at-home:
The bet-at-home.com AG Group is active in the domain of online sports betting and online gaming. With 5.4 million registered customers, the company (which is listed on the Frankfurt stock exchange) represents, together with its subsidiaries, one of the most successful gaming providers within the European Union. bet-at-home.com has companies in Germany, Austria, Malta and Gibraltar. The successful development of the company can be attributed to its 284 employees as at 31 December 2020. The Group holds various licenses via its Maltese companies for online sports betting and online 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 sports betting and online gaming.
Contact
Klaus Fahrnberger
Head of Investor Relations
770
-at-home.ag
08.03.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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