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Bet-At-Home Releases Third Quarter Financials

Internet betting firm and BetClic Everest subsidiary Bet-At-Home has announced its third quarter financial results, noting that the company has returned to net profitability.

Key financial indicators for the third quarter ending September 30th, were:

  • Gross gaming revenue rose by 11.3% to €20.12 million (Q3/2011: €18.07 million)

  • Net gaming revenue rose to €16.88 million (Q3/2011: €16.43 million) despite the introduction of a sports betting tax in Germany on July 1, 2012, up by 2.7%

  • Group result before taxes improved by 79.4% to €1.22 million (Q3/2011: €0.68 million)

  • Betting and gaming turnover increased significantly by 8.7% to €460.16 million (Q3/2011: €423.25 million)

  • Advertising expenses amounted to €10.12 million (Q3/2011: €10.55 million)

  • Group EBITDA increased by 12% to €1.03 million (Q3/2011: €0.92 million)

  • Group financial result of €0.34 million (Q3/2011: Euro - 0.13 million)

  • Group result before taxes is €1.22 million (Q3/2011: €0.68 million), up 79.4%

  • Group annual net income of €1.07 million (Q3/2011: €0.35 million)

Year to date financial indicators for the period ending September 30th were:

  • Gross gaming revenue increased by 16.9% to €62.23 million (Q1- Q3/2011: €53.23 million)

  • Group result before taxes is Euro -2.12 million (Q1-Q3/2011: €4.65 million)

  • Cash, cash equivalents and marketable securities amounted to €23.61 million as at 30 September 2012 (31 December 2011: €40.12 million)

  • Betting and gaming turnover is up 20.3% year-over-year, with €1,549.31 million (January to September 2011: €1,288.43 million)

  • Net gaming revenue (Hold minus Betting / Gaming Tax) of €55.12 million (Q1-Q3/2011: €47.86 million)

  • Cumulative advertising expenses for the first three quarters of 2012 rose by 38.2% or €11.01 million to €39.86 million (Q1-Q3/2011: €28.85 million) due to intensified marketing during the 2012 European Football Championships in the second quarter.

  • Group EBITDA is Euro -2.36 million (Q1-Q3/2011: €4.75 million)

  • Group financial result of €0.69 million (Q1-Q3/2011: €0.28 million)

  • Total Group result before taxes is Euro -2.12 million (Q1-Q3/2011: €4.65 million)

  • Group annual net loss of Euro -2.45 million (Q1-Q3/2011: Income of €2.84 million)

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