DGAP-News: bet-at-home.com AG: Group figures for the first half of 2020

Group figures for the first half of 2020 (01.01. to 30.06.2020):

• Gross betting and gaming revenue at EUR 62.3 million
• EBITDA in the first half of 2020 at EUR 15.8 million
• Cash and short-term time deposits at EUR 60.7 million as of 30 June 2020

Düsseldorf, 3 August 2020

Impact of the COVID-19 pandemic on operational development in the first half of 2020:

The impact of the pandemic became noticeably from mid-March 2020, when international sporting events were canceled or postponed. In this phase, however, the demand for alternative betting offers remained almost unchanged, as customers of the bet-at-home.com AG group switched to eSports and marginal sports.

With a step-by-step resumption of playing activities in the national European football leagues in May 2020 and the postponement of important events such as the Champions League or Europa League, the usually low-revenue summer months are positively influenced. In addition, the resumption of international tennis tournaments is to be expected in the second half of 2020.

The online gaming segment including casino, live casino, virtual sports and poker was not negatively affected by the pandemic.

 

Outlook for the fiscal year 2020:

From the current perspective, the Management Board still expects a gross betting and gaming revenue between EUR 120 million and EUR 132 million in the financial year 2020. The decline in gross betting and gaming revenue compared to the financial year 2019 is attributable to legal restrictions in individual markets. A potential decline in revenues due to regulatory changes in Germany can currently not be estimated and is therefore not considered.

Furthermore, the Management Board still expects EBITDA to amount between EUR 23 million and EUR 27 million for the financial year 2020.

 

Revenue development in the first half of 2020:

Gross betting and gaming revenue was EUR 62.3 million in the first half of 2020 and is therefore as expected below the previous year's figure due to legal restrictions in individual markets (H1 2019: EUR 71.1 million). The betting and gaming volume in the bet-at-home.com AG Group totaled EUR 1,461.3 million in this period (H1 2019: EUR 1,588.4 million).

Betting fees and gaming levies were EUR 10.9 million in the first half of 2020 (H1 2019: EUR 10.2 million). In the same period, VAT on electronic services had a negative impact on earnings of EUR 2.4 million (H1 2019: EUR 2.2 million).

Accordingly, the net betting and gaming revenue amounted to EUR 49.1 million in the first half of 2020 (H1 2019: EUR 58.7 million).

 

Investments in brand awareness in the first half of 2020:

Marketing expenses reached EUR 13.6 million in the first half of 2020 and thus below the comparative period in the previous year (H1 2019: EUR 16.7 million), as the decrease compared to the previous year is due to the postponement of the European Football Championship to 2021.

As at 30 June 2020, the bet-at-home.com AG Group had 5.3 million registered customers (30.06.2019: 5.1 million).

Earnings development in the first half of 2020:

In the first half of 2020, EBITDA reached EUR 15.8 million and was lower than in the comparative period in the previous year (H1 2019: EUR 21.3 million). In Q2 2020, EBITDA amounted to EUR 6.8 million (Q2 2019: EUR 8.6 million). Earnings before taxes (EBT) were at EUR 14.9 million in the first half of 2020 (H1 2019: EUR 20.4 million).

Stable asset and capital structure:

As a result of the contribution to earnings made in the current reporting period, Group equity increased to EUR 51.6 million as of 30 June 2020 (31.12.2019: EUR 41.6 million), resulting in a consolidated equity ratio of 50.6% (31.12.2019: 43.7%).

The bet-at-home.com AG Group also held liquid assets and short-term time deposits in the amount of EUR 60.7 million as of 30 June 2020 (31.12.2019: EUR 54.8 million).

About bet-at-home:

The bet-at-home.com AG Group is active in the domain of online gaming and online sports betting. With 5.3 million registered customers, the company (which is listed on the Frankfurt stock exchange) represents, together with its subsidiaries, one of Europe's most successful online betting and online gaming providers. The varied options offered on www.bet-at-home.com include sports betting, poker, casino, games and virtual sports. bet-at-home has companies in Germany, Austria, Malta and Gibraltar. The successful development of the company can be attributed to its 288 employees as at 30 June 2020. The Group holds various licenses via its Maltese companies for online sports betting and gaming. The licenses allow the company to organize and market online sports betting and online casinos. Since 2009, bet-at-home.com AG has been a part of the Betclic Everest SAS Group, which is a leading French Group in the domain of online gaming and sports betting.