Mybet 2012 Full Year Results
Friday March 29, 2013 : SPORTSBETTING BIGGEST CONTRIBUTOR IN MYBET 2012 RESULTS
Future looking bright predicts management board
Kiel-based mybet Holding SE reported a 14 percent increase in revenue for its fiscal 2012 reporting period largely driven by its sportsbetting sector.
Key performance indicators for the year ended December 31, 2012 include:
– Revenue of Euro 69.2 million (2011: Euro 60.7 million), an increase of 14 percent.
– An improved EBIT of Euro 7.2 million (2011: Euro 1.6 million), boosted by the sale of German lottery operations.
– Net profit of Euro 6.2 million (2011: Euro 1.5 million).
– Earnings per share of 25 cents (2011: 6 cents).
– Sportbetting revenue of Euro 33.8 million (2011: Euro 25.1 million), up 34.5 percent.
– Overall betting stakes on mybet internet platforms increased by 45.2 percent to Euro 90.5 million (2011: $62.3 million)
– Revenue from casino and poker games climbed by 26.7 percent to Euro 21.7 million (Euro 17.1 million).
– Horse Betting revenue increased by 17.3 percent to Euro 5.7 million (2011: Euro 4.8 million).
– Lottery product proceeds dropped 54.4 percent to Euro 6.2 million due to a difficult market environment in Spain and the disposal of German-language lottery operations.
Overall, sports betting proved to be the biggest contributor to consolidated revenue accounting for 49 percent of the total for the group. The company said the sector showed strong growth in new customers which rose by 186 000 over the year to 1 048 000. Active customers i.e. at lease once a month, increased from 17 400 to 22 400. The average betting stake rose from Euro 298 in 2011 to Euro 338.
In a trading update, mybet reported a promising start to 2013 based on first quarter results and looks forward to what it terms an interesting year ahead in which it hopes to be among those awarded a German Federal state sportsbetting, casino and poker licence.
"The mybet Group is outstandingly well equipped to respond to the further development of the market," commented Matthias Dahms, Management Board spokesman of mybet Holding SE.
"It has a very good corporate structure in human resources and organisational terms. The healthy net worth and financial position provide a sound basis for the financing of further growth. The clear positioning in the Sports Betting, Casino and Poker product segments as well as the focus on the liberalising German market and on high-growth countries in Continental Europe offer very good opportunities for the mybet Group to develop successfully."
mybet said it expects its 2013 financial year to deliver revenue growth well into double figures of between 15 and 25 percent, which will outstrip the market's forecast growth resulting in consolidated revenue of between Euro 80 and 87 million.