Investor Presentation • Nov 5, 2018
Investor Presentation
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bet-at-home.com AG – 5 November 2018
Ladies and Gentlemen, dear Shareholders,
in the third quarter of 2018, following the investments for the 2018 World Cup in Russia, our focus was once again on increasing our earnings strength through the successful acquisition of new customers and reactivating existing customers, thus achieving the highest EBITDA in the company's history in the third quarter of 2018.
The gross betting and gaming revenue also increased significantly in Q3 2018 to EUR 37.6 million in relation to the same period of the previous year as well as to the previous periods of the current financial year.
We would like to thank all those who have made the first three quarters of 2018 such a success for bet-at-home.com, especially our staff. We would also like to express our gratitude to the shareholders for their trust in us.
Franz Ömer CEO Michael Quatember CEO
| 01/01-30/09/2018 ǀ in EUR 1,000 | Sports betting |
eGaming* | Total |
|---|---|---|---|
| Betting and gaming volume |
416,647 | 1,888,464 | 2,305,111 |
| Paid out winnings |
-371,990 | -1,828,875 | -2,200,865 |
| Gross betting and gaming revenue |
44,657 | 59,589 | 104,246 |
| Betting fees and gambling levies | -7,355 | -7,871 | -15,226 |
| VAT on electronic services | -947 | -4,910 | -5,857 |
| Net betting and gaming revenue |
36,355 | 46,808 | 83,163 |
| Sports betting |
eGaming* | Total |
|---|---|---|
| 470,332 | 1,923,252 | 2,393,584 |
| -422,196 | -1,862,672 | -2,284,868 |
| 48,136 | 60,580 | 108,716 |
| -7,022 | -7,454 | -14,476 |
| -2,250 | -4,577 | -6,826 |
| 38,865 | 48,549 | 87,414 |
* consists of casino, games, poker und virtual sports
• In accordance with Maltese tax law, bet-at-home.com AG Group's corporate tax rate for Q1-Q3 2018 was 37.3%. Due to a planned tax refund at the end of the year, the effective tax rate for 2018 is expected to be at last year's level (31.12.2017: 7.9%).
| in EUR 1,000 | 31/12/2017 | 30/09/2018 |
|---|---|---|
| Share capital | 7,018 | 7,018 |
| Capital reserves | 7,366 | 7,366 |
| Total comprehensive income |
74,927 | 36,699 |
| Group equity | 89,311 | 51,083 |
• As a result of the contribution made in the current reporting period, consolidated equity as at 30 September 2018 amounts to EUR 51.1 million (31.12.2017: EUR 89.3 million), resulting in a consolidated equity ratio of 58.7% (31.12.2017: 71.7%).
| ISIN | DE000A0DNAY5 |
|---|---|
| Stock exchange | Frankfurt |
| Market segment | Prime Standard |
| Number of shares |
7,018,000 |
| Market capitalisation | EUR 417.6 Mio. | |
|---|---|---|
| Cash & cash equivalents | EUR 67.0 Mio. | |
| Enterprise Value* | EUR 350.6 Mio. |
*) Enterprise Value = market capitalisation – cash & cash equivalents
| Betclic Everest SAS | 51.69 % |
|---|---|
| Free Float | 47.31 % |
| Management | 1.00 % |
Head of Investor Relations
+49 211 179 34 770 [email protected] www.bet-at-home.ag
04/03/2019 Full Year Results 2018
28/03/2019 Annual Report 2018
29/04/2019 Quarterly Statement Q1 2019
22/05/2019 Annual General Meeting 2019
29/07/2019 Interim Report January-June 2019
09/09/2019 Interim Financial Report 2019
04/11/2019 Quarterly Statement Q1-Q3 2019
09/03/2020 Full Year Results 2019
| P&L in EUR 1,000 | 01/01- 30/09/2017 |
01/01- 30/09/2018 |
∆ in % |
|---|---|---|---|
| Gross betting and gaming revenue | 108,716 | 104,246 | -4.1% |
| Betting fees and gaming levies | -14,476 | -15,226 | 5.2% |
| Value-added tax (VAT) |
-6,826 | -5,857 | -14.2% |
| Net betting and gaming revenue |
87,414 | 83,163 | -4.9% |
| Other income | 568 | 488 | -14.1% |
| Personnel expenses |
-13,205 | -13,783 | 4.4% |
| Advertising expenses | -32,711 | -29,303 | -10.4% |
| Other operating expenses |
-16,691 | -16,669 | -0.1% |
| EBITDA | 25,375 | 23,897 | -5.8% |
| Amortisation/Depreciation | -970 | -948 | -2.3% |
| EBIT | 24,404 | 22,949 | -6.0% |
| Financial result |
479 | 34 | -92.9% |
| EBT | 24,883 | 22,983 | -7.6% |
| Taxes on income and earnings |
-8,990 | -8,576 | -4.6% |
| Consolidated profit for the period |
15,893 | 14,407 | -9.4% |
| Balance sheet in EUR 1,000 |
31/12/2017 | 30/09/2018 |
|---|---|---|
| Non-current assets |
4,036 | 3,582 |
| Receivables and other assets |
16,940 | 14,265 |
| Securities | 4,588 | 5,538 |
| Short-term time deposits | 97,261 | 61,469 |
| Current assets |
118,789 | 81,273 |
| Prepaid expenses | 1,823 | 2,207 |
| Total ASSETS | 124,648 | 87,062 |
| High cash position despite payment of a dividend of EUR |
|---|
| 52.6 million - thus EUR 7.50 per share - in May 2018. |
| Equity | 89,311 | 51,083 |
|---|---|---|
| Non-current liabilities |
47 | 47 |
| Trade payables | 1,758 | 625 |
| Short-term provisions | 22,600 | 25,391 |
| Other liabilities | 10,085 | 9,474 |
| Current liabilities |
34,443 | 35,490 |
| Deferred income |
848 | 442 |
| Total EQUITY & LIABILITIES | 124,648 | 87,062 |
| "Other liabilities" contain trust-held deposits which reflect the customers' credit balance in the amount of EUR 7.9 million. |
|---|
| No bank loans or other liabilities to banks. |
| Cash flow in EUR 1,000 |
30/09/2017 | 30/09/2018 |
|---|---|---|
| Consolidated profit for the period | 15,893 | 14,407 |
| Other comprehensive income |
391 | 0 |
| Comprehensive income |
16,284 | 14,407 |
| + Depreciation of non-current assets |
970 | 948 |
| - Interest income related to loans issued to group companies |
-451 | 0 |
| +/- Increase/decrease in provisions |
-2,527 | 2,792 |
| Increase/decrease in trade and other receivables not attributable to investing or financing +/- activities |
11,376 | 1,340 |
| Increase/decrease in trade and other payables not attributable to investing or financing +/- activities |
-1,618 | -2,150 |
| Cash flows from operating activities | 24,036 | 17,337 |
| - Acquisition of assets (excluding investments) |
-403 | -494 |
| + Proceeds from sale of property, plant and equipment |
83 | 0 |
| - Interest income/expense related to loans issued to group companies |
29,451 | 0 |
| Cash flows from investing activities | 29,131 | -494 |
| - Payments to shareholders (dividends) |
-52,635 | -52,635 |
| Cash flows from financing activities | -52,635 | -52,635 |
| Net cash from operating, investing and financing activities |
532 | -35,792 |
| Cash and cash equivalents at the beginning of the reporting period | 90,101 | 97,261 |
| Cash and cash equivalents at the end of the reporting period | 90,633 | 61,469 |
bet-at-home.com AG
This presentation is for information purposes only and may not be copied in its entirety or in part, for any purpose or passed on to third parties or made public. This presentation contains written documentation or slides for a presentation on bet-at-home.com AG ("the company") and its operations. This presentation does not constitute a solicitation or offer to sell, purchase or subscribe to shares in the company. The information and opinions expressed therein do not form the basis of any contract or investment decision.
This presentation contains forward-looking statements, that means statements which are not historical facts, including statements about the beliefs and expectations of the company and the company's objectives in regards to the future development of the business. These statements are based on current plans, estimates as well as projections and therefore should not be excessively evaluated by investors. Forward-looking statements are only relevant as of the date in which they are made and the company is not obliged to make such statements in terms of new information, future developments up to the latest date and publish revised statements..
Although this presentation has been prepared with the utmost care with respect to the accuracy of the facts, the material within this presentation has not been checked by the company. Neither the company, its managers or any third party offer any guarantee, expressed or implied in underlying the accuracy or completeness of this presentation, information or opinions. Neither the company or any of its members, managers, representatives or employees or any third party shall have any liability for any damages arising from the use of this presentation or its contents or in connection therewith.
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