AI Terminal
bet-at-home.com AG
Earnings Release • Aug 22, 2022
60_rns_2022-08-22_64a6474f-0735-4291-9f50-f61add55498c.html
Earnings Release
Open in ViewerOpens in native device viewer
News Details
Corporate | 22 August 2022 09:55
bet-at-home.com AG: Group figures for the first half of 2022
DGAP-News: bet-at-home.com AG / Key word(s): Half Year Report/Half Year Results
bet-at-home.com AG: Group figures for the first half of 2022
22.08.2022 / 09:55 CET/CEST
The issuer is solely responsible for the content of this announcement.
Revenue development in the first half of 2022
At EUR 26.7 million, gross betting and gaming revenue for continuing operations in the first half of 2022 was 18.6% below the prior-year figure (H1 2021 adjusted: EUR 32.8 million). The main reasons for this are regulatory developments, particularly in the core market of Germany. Legal requirements such as an elaborate registration process and a limited betting offer continued to have a negative impact on customer activity in the first half of 2022. Although long-term legal certainty was gained in the core market of Germany as a result of licensing, the comprehensive implementation of cross-product monthly betting limits from July 1, 2022 will lead to further revenue losses in Germany. In addition, the online gaming segment in Germany developed below expectations due to the ban on popular games such as roulette and blackjack and the limitation of the remaining licensable offering.
Earnings development in the first half of 2022
Operating EBITDA in the first half of 2022 was EUR 1.1 million (H1 2021 adjusted: EUR 6.1 million). The decrease results from the decline in gross betting and gaming revenue, whereby the costs of the continuing operations could not yet be reduced to the same extent. Consolidated net income as of June 30, 2022 amounts to EUR 10.6 million (H1 2021: EUR 1.1 million). Thereof, a result of EUR 11.4 million (H1 2021: EUR -0.6 million) is attributable to the discontinued operations. This includes a special effect from deconsolidation in the amount of EUR 13.1 million (H1 2021: EUR 0.00).
Asset and capital structure
Group equity as of June 30, 2022 totals EUR 27.7 million (31/12/2021: EUR 17.0 million). The consolidated equity ratio is therefore 48.8% (31/12/2021: 22.5%). The increase in consolidated equity is mainly caused by positive effects from the deconsolidation of bet-at-home.com Entertainment Ltd, Malta.
Cash and cash equivalents and short-term time deposits within the bet-at-home.com AG Group total EUR 32.6 million as of 30 June 2022 (31/12/2021: EUR 42.0 million).
Outlook for the fiscal year 2022
As already reported on June 27, 2022, the Management Board currently expects gross betting and gaming revenue of between EUR 50 million and EUR 60 million and EBITDA of between EUR -2 million and EUR -4.5 million in fiscal year 2022.
About bet-at-home
The bet-at-home.com AG Group is active in the domain of online sports betting and online gaming. With 5.5 million registered customers, the company (which is listed on the Frankfurt Stock Exchange) represents together with its subsidiaries, one of the most successful gaming providers in the European Union. bet-at-home has companies in Germany, Austria, Malta and Gibraltar. As of June 30, 2022, the Group had 170 employees. The Group holds various licenses via its Maltese companies for online sports betting and online casinos.
Since 2009, bet-at-home.com AG has been part of the Betclic Everest SAS Group, which is a leading French group in the domain of online sports betting and online gaming. bet-at-home is certified according to ISO/IEC 27001:2013 for all Group companies in Germany, Austria and Malta.
Contact
+49 211 545 598 77
www.bet-at-home.ag
Düsseldorf, 22 August 2022
22.08.2022 CET/CEST Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | bet-at-home.com AG |
| Tersteegenstrasse 30 | |
| 40474 Düsseldorf | |
| Germany | |
| Phone: | +49 211 545 598 77 |
| Fax: | +49 211 545 598 78 |
| E-mail: | [email protected] |
| Internet: | www.bet-at-home.ag |
| ISIN: | DE000A0DNAY5 |
| WKN: | A0DNAY |
| Listed: | Regulated Market in Frankfurt; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1425105 |
| End of News | DGAP News Service |