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".