bet-at-home.com has presented figures for the first half of the financial year 2018. Gross betting and gaming revenue (gross profit) amounted to € 66.6 million in the first half of 2018, down 13.3% on the same period of the previous year (1st half of 2017: € 76.8 million).

The betting and gaming volume in the bet-at-home.com AG Group totaled EUR 1,504.3 million in this period (first half of 2017: EUR 1,688.6 million). The main reason for the decline in gross betting and gaming revenue has been EU illegal measures to exclude foreign betting and gaming operators in Poland since July 2017.

Betting and gaming fees in the first half of 2018, at 9.9 million euros, corresponded to the decline in gross gaming and gaming revenues below the level of the same period of the previous year (1st half of 2017: 10.1 million euros). The VAT regulations for providers of electronic services within the European Union led to a negative impact on earnings of EUR 4.5 million in the first six months of the 2018 financial year (first half of 2017: EUR 5.2 million).

Accordingly, net betting and gaming revenue fell to € 52.2 million (H1 2017: € 61.5 million).

Further strengthening of brand awareness and expansion of customer base: As part of the Football World Cup in Russia from 14 June to 15 July was bet-at-home.com from May 2018 reinforced by international advertising campaigns in the form of TV spots, posters and Online media and a comprehensive bonus campaign across Europe. As a result, marketing expenses in the first half of 2018 are as planned at EUR 21.2 million (HY1 2017: EUR 24.2 million), with the focus on marketing being set at EUR 13.5 million in the second quarter of 2018 as a result of the major sports event (Q2 2017: EUR 9.3 million). The bet-at-home.com AG Group had just under 5.0 million registered customers as of June 30, 2018 (June 30, 2017: 4.7 million).

Earnings development in the first half of 2018: Continued high investments in marketing measures in the context of the World Cup saw EBITDA of EUR 10.9 million in the first half of 2018 (H1 2017: EUR 17.4 million). EBITDA in the second quarter of 2018 delivered a positive contribution to earnings of EUR 1.6 million despite the marketing focus during this period. The EBIT in the first six months of the 2018 financial year amounts to 10.3 million euros, which is 6.4 million euros below the reference value of the previous year (1st half of 2017: 16.7 million euros). Accordingly, earnings before taxes (EBT) in the first half of 2018 amounted to € 10.3 million (H1 2017: € 17.2 million).

Outlook: In the financial year 2018, the Executive Board continues to expect gross winnings and gaming revenues to increase to 150 million euros. For the 2018 financial year, the Management Board also expects an EBITDA of between € 36 million and € 40 million.