DGAP-News: bet-at-home.com AG
/ Key word(s): Quarterly / Interim Statement
bet-at-home.com AG: Group figures for the first quarter of 2022
23.05.2022 / 10:00
The issuer is solely responsible for the content of this announcement.
Düsseldorf, 23 May 2022
Report by the Management Board
Following the challenges of the past fiscal year 2021, the bet-at-home.com AG Group has made a successful start to the new year thanks to the measures and initiatives taken to date. Gross betting and gaming revenue in the first three months of the current financial year amounts to EUR 14.0 million and is thus within expectations for the full year 2022. Our brand is excellently positioned in attractive core markets with high purchasing power. In Germany in particular, we expect the relevant authorities to take rigorous action against unlicensed providers in the foreseeable future. In addition to strengthening our market position in this important core market for bet-at-home, we submitted the application for a national license for online sports betting and online gaming in the Netherlands as planned at the end of March 2022. We expect future licensing in the Netherlands and other markets to provide us with further legal certainty in licensed markets, especially as national licenses will continue to gain in importance in EU member states.
Earnings development in the first quarter 2022
Personnel expenses decreased by EUR 0.6 million year-on-year to EUR 4.4 million in the first quarter of 2022 due to the headcount reduction announced in December. At EUR 3.5 million, marketing expenses in the first quarter of 2022 were lower than in the same period of the previous year. The marketing focus in the current financial year will be on the advertising measures surrounding the Football World Cup in Qatar in the fourth quarter of 2022. Other operating expenses in the first quarter of 2022 amount to EUR 5.1 million.
EBITDA in the first quarter of 2022 was EUR -1.4 million.
Stable asset and capital structure
Group equity as at 31/03/2022 totals EUR 14.3 million (31/12/2021: EUR 17.0 million). Cash and cash equivalents within the bet-at-home.com AG Group totaled EUR 42.1 million as of March 31, 2022 (December 31, 2021: EUR 42.0 million).
Outlook for the fiscal year 2022
The Management Board continues to expect the bet-at-home.com AG Group to generate gross betting and gaming revenue of between EUR 50 million and EUR 60 million in the 2022 financial year. For the financial year 2022, the bet-at-home.com AG Group continues to expect EBITDA to break even at between EUR -2 million and EUR 2 million.
Any deconsolidation effects of the Maltese bet-at-home.com Entertainment Ltd. have not yet been considered.
Group quarterly statement for the first quarter of 2022
The detailed Group quarterly statement can be downloaded on the Group?s Investor Relations website at https://www.bet-at-home.ag/en/finance/download.
About bet-at-home
The bet-at-home.com AG Group is active in the domain of online sports betting and online gaming. With about 5.6 million registered customers, the company (which is listed on the Frankfurt stock exchange) represents, together with its subsidiaries, one of the most popular gaming providers within the European Union. bet-at-home has companies in Germany, Austria, Malta and Gibraltar. The Group holds various licenses via its Maltese companies for online sports betting and online gaming. The licenses allow the company to organize and market online sports betting and online casinos. Since 2009, bet-at-home.com AG has been a part of the Betclic Everest SAS Group, which is a leading French Group in the domain of online sports betting and online gaming. bet-at-home is certified according to ISO/IEC 27001:2013 for all Group companies in Germany, Austria and Malta.
Contact
Investor Relations
+49 211 545 598 77
ir@bet-at-home.com
www.bet-at-home.ag
23.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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