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RECORD YEAR FOR FORTUNA
03/02/2012 : RECORD YEAR FOR FORTUNA
Online yields good results with strong future prospects
Fortuna Entertainment Group N.V. has announced growth in all its main markets with the release of its financial results for the fiscal year ended 31 December 2011.
The Central European fixed-odds betting company operates in the Polish, Czech Republic and Slovakian markets and recently launched its fortuna.pl sportsbetting website into the Polish market .
Key performance highlights include:
- Total Amounts Staked increased by 6.2 percent to Euro 409 million
- Total Gross Win up by 9.7 percent to Euro 102 million
- EBITDA Sports Betting grew by 6.3 percent to Euro 26.7 million
- Online Sports Betting Gross Win increased by 28.8 percent to Euro 30 million
- Lottery in the Czech Republic on plan with Amounts Staked Euro 9.9 million and Gross Win Euro 5.1 million
The online sportsbetting sector, particularly in Czech Republic and Slovakia, yielded strong results for the firm. Czech Republic now generates 52.5 percent of all amounts staked for the company while Slovakia represents 32.1 percent and Poland 12.1 percent.
Wilf Walsh, vice chairman of the management board and interim chief executive officer of Fortuna comments: "I am delighted to report on a record year for Fortuna. Our team have delivered top line turnover of over Euro 409 million, which is 6.2 percent ahead of last year and a net profit figure Euro of 13.3 million. We have achieved extremely solid numbers across all three territories and all channels. Our future plans have been boosted with the strategic addition of an additional income stream in the form of our exciting new lottery project in the Czech Republic."
"I am very satisfied with Fortuna’s performance in 2011, which proved to be another year of stability, market growth and cash generation. Although the European market was hit by another wave of economic slowdown, the betting segment has proven to be resilient to the market uncertainty and performed in line with our expectations", said Jozef Janov, chairman of the supervisory board of Fortuna Entertainment Group NV. ”In sports betting that is our key value contributor, we have managed to grow our top line numbers, retained our sales margins and yet remained one of the market leaders in all countries where we operate."
Fortuna's 2012 strategy will focus on growth and innovation in its online offering which will include the continued development of a mobile channel and expanding its existing in-play betting and live streaming offerings.
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