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bet-at-home.com AG: gross betting and gaming revenue increased by 23.0% in the first quarter of 2017
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DGAP-News: bet-at-home.com AG / Key word(s): Quarterly / Interim Statement |
Group figures for the first quarter of 2017 (1 January to 31 March 2017):
- Gross betting and gaming revenue increased by 23.0% to EUR 37.2 million
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- EBITDA of EUR 5.0 million in the first quarter
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- Cash and cash equivalents and marketable securities of EUR 106.3 million
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- Guidance for full year 2017 confirmed
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Dusseldorf, 2 May 2017. In the first quarter of 2017, the listed online sports betting and gaming provider continued its successful development and could outperform the dynamic growth of
the successful previous quarters.
Significant increase in gross betting and gaming revenue:
In the first quarter of 2017, the gross betting and gaming revenue amounted to EUR 37.2 million, thus 23.0% higher year-on-year (Q1 2016: EUR 30.3 million). The total betting and gaming volume of the bet-at-home.com AG Group amounted to EUR 841.4 million (Q1 2016: EUR 648.9 million) during the reporting period, thus 29.7% higher year-on-year.
In the first quarter of 2017, the betting fees and gambling levies increased to EUR 5.4 million corresponding with the increase in gross betting and gaming revenue (Q1 2016: EUR 3.7 million). In the reporting period, the VAT regulations for electronic service providers in the European Union resulted in an expense of EUR 2.4 million (Q1 2016: EUR 2.1 million).
The net betting and gaming revenue therefore increased by 20.2% to EUR 29.4 million (Q1 2016: EUR 24.5 million).
Further strengthening of the popularity of the brand and development of the customer base:
In the aftermath of the quarter with the highest revenues in the Group's history (Q4 2016) and due to the absence of international football tournaments in the fiscal year 2017, the focus on marketing for 2017 was already set in Q1 2017, covering all marketing channels including a vast TV campaign in Germany and Austria. Therefore, the marketing expenses exceeded the comparative value in the previous year and thus amounted to EUR 14.9 million (Q1 2016: EUR 8.8 million).
Significant increase in gross betting and gaming revenue:
In the first quarter of 2017, the gross betting and gaming revenue amounted to EUR 37.2 million, thus 23.0% higher year-on-year (Q1 2016: EUR 30.3 million). The total betting and gaming volume of the bet-at-home.com AG Group amounted to EUR 841.4 million (Q1 2016: EUR 648.9 million) during the reporting period, thus 29.7% higher year-on-year.
In the first quarter of 2017, the betting fees and gambling levies increased to EUR 5.4 million corresponding with the increase in gross betting and gaming revenue (Q1 2016: EUR 3.7 million). In the reporting period, the VAT regulations for electronic service providers in the European Union resulted in an expense of EUR 2.4 million (Q1 2016: EUR 2.1 million).
The net betting and gaming revenue therefore increased by 20.2% to EUR 29.4 million (Q1 2016: EUR 24.5 million).
Further strengthening of the popularity of the brand and development of the customer base:
In the aftermath of the quarter with the highest revenues in the Group's history (Q4 2016) and due to the absence of international football tournaments in the fiscal year 2017, the focus on marketing for 2017 was already set in Q1 2017, covering all marketing channels including a vast TV campaign in Germany and Austria. Therefore, the marketing expenses exceeded the comparative value in the previous year and thus amounted to EUR 14.9 million (Q1 2016: EUR 8.8 million).
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