bet-at-home.com revenue bounces back in Q1

Finance News

The bet-at-home.com AG Group announces financial results for the first six months of 2024.

Gross betting and gaming revenue in the first half 2024 increased by 4.9% year-on-year to EUR 25,406 thousand (1H 2023: EUR 24,217 thousand), which is attributed to a stronger performance of the online sports betting segment in the second quarter 2024. The result was achieved through extensive initiatives and marketing measures relating to the European Football Championship 2024, which took place from mid-June to mid-July in the core market of Germany.

Betting taxes, gaming levies and VAT on electronic supplied services in the first half 2024 were below the previous year’s level and amounted to EUR 5,243 thousand (1H 2023: EUR 5,386 thousand). Accordingly, the net gaming revenue increased by 7.1% to EUR20,163thousand (1H 2023: EUR 18,831 thousand).

As a result of extensive initiatives and supported by the European Football Championship 2024, the Management Board expects the Gross betting and gaming revenue to be in the range of EUR 45 million to EUR 53 million, and the EBITDA before special items* to be from EUR -1 million to EUR 2.5 million.

The outlook for EBITDA before special items* does not currently include any provisions for possible effects from the legal dispute regarding a potential obligation to pay VAT in Switzerland (see the ad hoc announcement dated 11 July 2024). Further information will be disclosed in the risk report of the half- year financial report 2024, which will be published on 23 September 2024.

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