Fortuna Posts Financial Results

Czech betting firm Fortuna Entertainment Group has posted their first half 2015 financial results, noting that the company's net profit has dropped 47%.

Key financial indicators for the company were:

  • Amounts staked of Euro 411.9 million, up by 23.6 percent;

  • Strong demand for online sportsbetting, but year-on-year comparison impacted by the absence of major sport events;

  • Gross Win at Euro 67.1 million, up 1.9 percent year-on-year;

  • Gross Win from online sports betting increased to Euro 38.3 million, up 18.9 percent y-o-y;

  • Gross Win from retail sports betting at Euro 24.8 million, a 17 percent drop y-o-y that was most pronounced in the Czech Republic and Slovakia;

  • Group EBITDA down 39.1 percent at Euro 9 million, due to the cancellation of the online handling fee in Slovakia, less favourable sports results and higher marketing costs, along with a major event equivalent to the 2014 World Cup football. Sports betting EBITDA delivered just Euro 8,5 million...a year-on-year decline of 42.1 percent;

  • Lottery EBITDA up almost 900 percent at Euro 475 thousand;

  • Group net H1 profit ar Euro 4.8 million, down 46.9 percent year-on-year.

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