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Respectable Earnings Report For Bet-At-Home
Monday November 11,2013 : RESPECTABLE BET-AT-HOME 9M/2013 RESULTS
Efficiency measures in marketing and operating yield results
Betclic Everest Group online sportsbetting and gaming provider Bet-At-Home said it was pleased with what it terms as strong gross gaming revenues despite the lack of a major sporting event during 2013.
Key performance indicators for the nine months ending September 30, 2013 include:
Pre-tax revenues up by Euro 13.7 million to Euro 11.6 million (9M/2012: -2.1 million)
Gross gaming revenue of Euro 61.8 million (9M/2012: Euro 62.2 million), down only 0.7 percent despite the lack of a significant sporting event
Net gaming revenue of Euro 53.7 million (9M/2012 Euro 55.1 million), impacted by the introduction of German sportsbetting taxes
EBITDA increased to Euro 11.1 million (9M/2012: Euro -2.4 million)
EBIT increased to Euro 10.7 million (9M/2012: Euro -2.8 million).
Gaming volume amounted to Euro 1,342.9 million (9M/2012: Euro 1,549.3), down 13.3 percent
Efficiency improvements in marketing and operating expenses:
Marketing expense amounted to Euro 24.8 million (9M/2012: Euro 39.9 million), equating to a 37.8 percent reduction
Operating expenses of Euro 9.6 million (9M/2012: Euro 9.6 million, down by 14.9 percent
Cash, cash equivalents and securities of Euro 25.7 million
Substantial expansion in customer base which stands at almost 3.5 million registered customers.
According to a company statement: "The steady development in gross revenue, the efficiency increases in marketing and the reduction in other expense show clear and positive results on the development of results of the bet-at-home.com AG Group during the reporting period".
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