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

Gross betting and gaming revenue in the first three quarters of 2024 increased by 8.9% year-on-year to EUR 37,624 thousand (1Q-3Q 2023: EUR 34,537 thousand), which is attributed to positive performance of the both online sports betting and online gaming business segments.

The result was achieved through extensive initiatives and marketing measures relating to the major sporting events of the current year – the European Football Championship in Germany and the Summer Olympic Games in Paris.

Personnel expenses decreased by 4.8% year-on-year to EUR 6,304 thousand.

Advertising expenses grew by 18.0% year-on-year to EUR 13,822 thousand (1Q-3Q 2023: EUR 11,709 thousand). The increase reflects investments in intensified advertising of the “bet-at-home” brand, acquisition of new customers and reactivation of existing ones in the core markets of Germany and Austria before the start of the European Football Championship 2024. In contrast to the 2023 financial year, the marketing focus in 2024 was made on the first half of the year.

Other operating expenses increased by 56.6% year-on-year to EUR 13,452 thousand, which is attributable to earlier announced events in previous financial years, in particular a provision of EUR 4.8 million due to a ruling in Switzerland according to which sports betting was classified as an electronically provided service and is therefore subject to Swiss VAT (refer to the ad hoc disclosure dated 5 September 2024), as well as expenses in connection with claims for the reimbursement of gambling losses (refer to the ad hoc disclosure dated 20 August 2024).

The consolidated net result for the period as of 30 September 2024 amounted to EUR -3,252 thousand (1Q-3Q 2023: EUR -231 thousand).

EBITDA before special items* in the first three quarters of 2024 amounted to EUR 2,837 thousand and was above the level recorded in the same period of last year (1Q-3Q 2023: EUR 2,392 thousand).