EURO 2016 MARKETING PAYS OFF FOR BET-AT-HOME
Q3 EBITDA reaches an all-time-high.
bet-at-home AG said in its third quarter fiscal report, that investment in the brand, specifically targeted marketing during the Euro 2016, will contribute significantly to the sustainable development of the bet-at-home.com brand.
Key performance highlights for the nine-month period include:
EBITDA of Euro 21.3 million (9M/2015: Euro 22.1 million).
EBITDA in the third quarter amounted to Euro 12.3 million, its highest quarter result in the history of the company (Q3/2015: 9.1 million).
EBIT was Euro 20.5 million (9M/2015: Euro 21.5 million). Impacted by increased marketing expenses.
Gross betting and gaming revenues were Euro 100.4 million (9M/2015: Euro 87.5 million), up 14.7 percent.
Total betting and gaming volume was Euro 2,081.2 million (9M/2015: Euro 1,773.0 million), an increase of 17.4 percent.
Net betting and gaming revenue grew 13.5 percent to Euro 81.8 million (9M/2015: Euro 72.1 million).
9M/2016 total marketing costs amounted to Euro 34.2 million, 27.3 percent higher year-on-year (9M/2015: Euro 26.9 million).
9M/2016 operating expenses amounted to Euro 14.3 million, Euro 2.1 million higher than the previous year.
9M/2016 cash and cash equivalents and marketable securities of Euro 59.3 million.
Betting fees and gambling levies increased 13.1 percent to Euro 11.8 million, while VAT payable was Euro 6.8 million.
Registered customers were 4.5 million (Q3/2015 4.2 million).
Looking ahead, the Board expects growth in gross betting and gaming revenue of 10 percent, to Euro 134 million, for the 2016 fiscal year and an EBITDA of around Euro 20 million.