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BET-AT-HOME.COM DELIVERS GOOD 2010 RESULTS
Posted 3/1/11 : An increase in of 54.12 percent in gross gaming profit and a significant increase in "quick assets"
Betclic Everest Group's betting subsidiary Bet-At-Home presented pleasing full year 2010 financial results this week.
The management board of the betting provider expects a considerable growth in 2011and has forecast an increase in gross profit of at least 30 percent. Strategies to achieve this growth include the continuation of intensive marketing activities in order to increase new customers as well as forge bonds with existing customers.
Fiscal highlights for the 52 week period to 31 December 2010 include:
- Betting and gaming turnover increased by 58.9 percent to EUR 1,476.19 million (2009: EUR 929.31 million), attributed largely to the 2010 Football World Cup.
- Gross gaming profit increased significantly to EUR 66.15 million (2009: EUR 42.92 million), an increase of 54.12 percent.
- Net gaming profit (less betting tax) in 2010 has improved by 54.69 percent to EUR 65.68 million (2009: EUR 42.46 million).
- Group results before taxes distinctly increased to EUR 11.16 million - EUR 3.2 per share (2009: EUR 2.80 million; EUR 0.8 per share)
The company reports that an increase of 18.11 percent in advertising expenditure has led to a significant increase in the number of new customers. The company has 2.26 million registered users.
A large investment in the acquisition of new customers and intensive efforts to reactivate existing customers with continuous and successful efficiency improvements in marketing activities has led to the strengthening of the bet-at-home.com brand and to a significant increase of the group's EBITDA to EUR 11.21 million in 2010 (2009: EUR 1.04 million).
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