Bet-At-Home reports return to net profit

BetClic Everest subsidiary Bet-At-Home reports a return to net profit in its third quarter results released this week which the Company attributes to successful measures taken in increasing marketing efficiencies relating to customer acquisition and loyalty.

Key performance indicators for the three months ending September 30, 2012:

– Gross gaming revenue rose by 11.3 percent to Euro 20.12 million (Q3/2011: Euro 18.07 million)

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

– Group result before taxes improved by 79.4 percent to Euro 1.22 million (Q3/2011: Euro 0.68 million)

– Betting and gaming turnover increased significantly by 8.7 percent to Euro 460.16 million (Q3/2011: Euro 423.25 million)

– Advertising expenses amounted to Euro 10.12 million (Q3/2011: Euro 10.55 million)

– Group EBITDA increased by 12 percent to Euro 1.03 million (Q3/2011: Euro 0.92 million)

– Group financial result of Euro 0.34 million (Q3/2011: Euro – 0.13 million)

– Group result before taxes is Euro 1.22 million (Q3/2011: Euro 0.68 million), up 79.4 percent

– Group annual net income of Euro 1.07 million (Q3/2011: Euro 0.35 million)

Key performance indicators for the first nine months to end September 2012:

– Gross gaming revenue increased by 16.9 percent to Euro 62.23 million (Q1- Q3/2011: Euro 53.23 million)

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

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

– Betting and gaming turnover is up 20.3 percent year-over-year, with Euro 1,549.31 million (January to September 2011: Euro 1,288.43 million)

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

– Cumulative advertising expenses for the first three quarters of 2012 rose by 38.2 percent or Euro 11.01 million to Euro 39.86 million (Q1-Q3/2011: Euro 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: Euro 4.75 million)

– Group financial result of Euro 0.69 million (Q1-Q3/2011: Euro 0.28 million)

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

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