DGAP-News

mybet Holding SE: Stable earnings performance despite continuing decline in revenue in first nine months of 2016

DGAP-News: mybet Holding SE / Key word(s): 9-month figures
mybet Holding SE: Stable earnings performance despite continuing decline in
revenue in first nine months of 2016

10.11.2016 / 08:00
The issuer is solely responsible for the content of this announcement.

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mybet Holding SE: Stable earnings performance despite continuing decline in
revenue in first nine months of 2016

- Consolidated revenue still down year-on-year at EUR 34.7 million

- EBITDA stable despite reduced revenue base, EBIT not including one-off
effects also at previous year's level

- Annual forecast for 2016 adjusted to consolidated revenue of between
EUR 43 million and EUR 46 million

- Key interim targets for Group financing achieved due to conclusion of
C4U sale and bridge-over financing for possible Westlotto compensation
payments

- Conference Call on third quarter on 14 November 2016 at 11:30 a.m.
(CEST)

Berlin, 10 November 2016. In the third quarter of the 2016 financial year,
the mybet Group once again posted a year-on-year decline in consolidated
revenue. Between January and September, a total of approximately EUR 34.7
million was generated from sports betting, casino and B2B business (PY: EUR
40.9 million), 15.2 percent less than in the same period of 2015.
The main factors behind this particularly included a lack of sustained
impetus for online sports betting from the European Football Championship,
the consequently relatively weak business development at the start of the
European football leagues, and the fact that the revenue volume from the
casino offerings unfortunately continued to decline significantly. Even
with the encouraging continuing growth in revenue from stationary mybet
betting shops and the stable profitable B2B business, the targeted
improvement in the revenue development compared to the previous quarters
still could not yet be achieved.

Stable development of operating earnings
Despite the significantly reduced revenue base, the mybet Group nonetheless
achieved a stable year-on-year development in earnings before interest,
taxes, depreciation and amortisation (EBITDA) in the first nine months of
the current financial year. EBITDA amounted to around EUR -1.6 million (PY:
EUR -1.5 million). Earnings before interest and taxes (EBIT) including the
one-off effect from the sale of the investment in pferdewetten.de AG came
to EUR 4.2 million, marking a very substantial improvement compared to 2015
(PY: EUR -6.4 million). However, the figure for the previous year had also