DGAP-News

mybet Holding SE: Stable earnings performance despite continuing decline in revenue in first nine months of 2016 - Seite 2

been influenced by a one-off impairment loss. Not including these two one-
off effects, the mybet Group also displayed a stable development in EBIT in
the nine-month period. The mybet Group's net profit for the period between
January and September 2016 amounted to approximately EUR 3.4 million (PY:
EUR -4.4 million).

Viewed in isolation, the third quarter of 2016 recorded consolidated
revenue of EUR 10.7 million (PY: EUR 12.1 million) and consolidated EBIT of
EUR -0.6 million (PY: EUR -4.6 million).

"The stability achieved with regard to our operating earnings in spite of
the lower revenue base is a key factor in preparing for the targeted
turnaround of mybet. In addition to the automatically falling revenue-
driven costs, this is primarily attributable to our cost control and
optimisation measures. These form the basis for converting our ultimate
goal of a lasting positive turnaround in revenue into profitability, too,"
explains Markus Peuler, CEO of mybet Holding SE.

In mid-August the newly developed IT platform with a significantly expanded
range of sports betting and casino offerings was launched in a soft launch
procedure. It is thus temporarily still available at ww.newmybet.com and
not at the main domain www.mybet.com and will not be a factor in the
business development to any significant extent until the changeover process
has been completed.

Based on the business development described above, the Management Board
adjusted its revenue forecast for 2016 to a range of EUR 43 million to EUR
46 million. The EBIT forecast remains unchanged with EBIT (including the
effect from pferdewetten.de AG) in the positive low single-digit millions.

Key interim targets for Group financing achieved
The strained liquidity situation of the mybet Group over the whole of the
year to date was improved after the end of the reporting period. Risk-free
bridge-over financing for possible compensation proceeds from the ongoing
Westlotto court proceedings with a volume of EUR 4.0 million that is
repayable only in the event of a successful outcome, together with the
long-awaited conclusion of the sale of the group company C4U-Malta Ltd. for
a gross amount of EUR 3.6 million, resulted in significant improvements.
While the Group's liquidity amounted to EUR 0.5 million as at 30 September
2016, it had reached around EUR 4.1 million by the time the quarterly
report was published.

"In particular, the Westlotto financing that has often been brought up as
an issue with us after its conclusion means primarily that mybet has
practically already received EUR 4 million from the proceedings -