DGAP-News

bet-at-home.com AG: gross betting and gaming revenue increased by 23.0% in the first quarter of 2017 - Seite 2

 

As at 31 March 2017, the bet-at-home.com AG Group had 4.7 million registered customers (31.03.2016: 4.3 million).

 

In the first quarter of 2017, other operating expenses amounted to EUR 5.6 million (Q1 2016: EUR 4.4 million). This increase resulted from higher gross betting and gaming revenues compared to the previous reporting period.

 
Earnings development in Q1 2017 confirms expectations for FY 2017:

The EBITDA amounted to EUR 5.0 million in the first quarter of 2017 (Q1 2016: EUR 7.5 million), confirming the Management Board's guidance for the financial year 2017. In the first three months of the 2017 financial year, EBIT amounted to EUR 4.6 million, thus EUR 2.6 million down year-on-year (Q1 2016: EUR 7.3 million).


By investing the large amount of cash and cash equivalents and issuing short-term loans at arm's length terms and conditions to the majority shareholder of bet-at-home.com AG, the Group's financial result amounted to EUR 0.3 million in the first quarter of 2017. The decrease in comparison to the previous year's reporting period (Q1 2016: EUR 0.6 million) is a consequence of the gradual repayment of loans granted. In the first quarter of 2017, earnings before taxes (EBT) therefore amounted to EUR 4.9 million (Q1 2016: EUR 7.9 million).

 
Stable asset and capital structure:

As at 31 March 2017, due to the earnings contribution in the current reporting period, the Group's equity increased to EUR 112.9 million (31.12.2016: EUR 109.6 million), resulting in a Group equity ratio of 75.3% (31.12.2016: 75.4%).

 

Furthermore, as at 31 March 2017, the bet-at-home.com AG Group held liquid assets and current securities in the amount of EUR 106.3 million (31 December 2016: EUR 91.8 million). Additionally, as at 31 March 2017, short-term loans issued to the majority shareholder in the amount of EUR 21.0 million were declared, as EUR 34.0 million have already been repaid. These loans were granted in accordance with the arm's length principle, and they were collateralised by the title bearers of the majority shareholder in accordance with the joint-and-several principle.