bet-at-home sees big rise in profits
Gross betting and gaming revenue in the first half of 2019 was EUR 71.1 million, up 6.7% on the same period in 2018 (H1 2018: EUR 66.6 million). The betting and gaming volume totaled EUR 1,588.4 million in this period (H1 2018: EUR 1,504.3 million).
Betting fees and gaming levies of EUR 10.2 million in the first half of 2019, were slightly higher than in the same period of the previous year (H1 2018: EUR 9.9 million). VAT on electronic services led to a negative impact on earnings of EUR 2.2 million in the first half of 2019 (H1 2018: EUR 4.5 million).
Accordingly, net betting and gaming revenue increased disproportionately by 12.4% to EUR 58.7 million (H1 2018: EUR 52.2 million).Strengthening of the popularity of the brand and development of the customer base
In the current financial year 2019, bet-at-home.com will continue to increase brand awareness through international advertising campaigns in the form of TV spots, print and online media as well as sponsoring cooperations and extensive bonus promotions.
As a result, marketing expenses in the first half of 2019 were below the reference value of the previous year at EUR 16.7 million (H1 2018: EUR 21.2 million) due to the lack of an additional marketing campaign in the context of major sporting events.
As at 30 June 2019, the bet-at-home.com AG Group had more than 5.1 million registered customers (30/06/2018: 5.0 million).E
At EUR 21.3 million, EBITDA almost doubled in the first half of 2019 compared to the same period of the previous year (H1 2018: EUR 10.9 million). Of this amount, EUR 8.6 million is attribut-able to the second quarter of 2019 (Q2 2018: EUR 1.6 million). Earnings before taxes (EBT) amounted to EUR 20.4 million in the first six months of the financial year (H1 2018: EUR 10.3 million).