Monday May 6,2013 MYBET BENEFITS FROM STRONG ONLINE GROWTH IN LATEST RESULTS
Loss of lottery operation covered by online growth
Kiel-based firm myBet (formerly JAXX SE) said it has more than compensated from the loss of income from lottery operations sold off in 2012 thanks to strong growth in its core business involving sports betting, casino and poker products in the first quarter of 2013.
Key performance highlights include:
- Revenue rose 8.0 percent to Euro 20 million (Q1/2012: Euro 18.5 million)
- Gross revenue of Euro 62.1 million (Q1/2012: Euro 60.1 million), up 3.3 percent
- Sports and betting revenue of Euro 11 million (Q1/2012: Euro 9.7 million), up 13.8 percent
- Casino & Poker revenue of Euro 6.6 million (Q1/2012: Euro 4.7 million), up 39.3 percent
- Customer registrations rose by 52 000 during the quarter amounting to 1.1 million, 54 percent up over the same period last year.
- EBITDA of Euro 0.8 million (Q1/2012: Euro 3 million), attributed to loss of income from lottery operations which reflects a decrease of 73.8 percent.
- Consolidated earnings reached Euro 389 thousand (Q1/2012: Euro 1,057 thousand).
The company said an increase in marketing and IT investment paves the way for further growth and increased profitability going forward.
The company's expectations for the 2013 financial year as a whole remain unchanged, with consolidated revenue forecast to reach Euro 80.0 to 87.0 million.