Bet-at-home Reports Good First Half 2015

Management raise full year 2015 expectations

Online sports betting and gaming provider AG Group reported on its first half 2015 showing good growth despite increased tax burdens.
Key performance highlights for the first half 2015 period include:
– EBITDA increased to Euro 16.0 million, up Euro 7.2 million (HY1/2014: Euro 8.8 million).
– EBIT was up by Euro 7.1 million to Euro 15.5 million (HY1/2014: Euro 8.5 million).
– Group financial result increased to Euro 1.0 million (HY1/2014: Euro 0.8 million).
– Earnings before taxes amounted to Euro 16.6 million, Euro 7.3 million up on last year ((HY1/2014: Euro 9.3 million).
– Gross betting and gaming revenue was Euro 56.7 million, up 6.9 percent (HY1/2014: Euro 53.1 million).
– Betting and gaming volume for AG was 8.8 percent up to Euro 1,172.3 million (HY1/2014: Euro 1,077.8 million).
– Net gaming revenue was Euro 46.6 million (HY1/2014: EUR 46.7 million) despite "new massive tax burdens".
– 4.1 million registered customers (HY1/2014: 3.8 million).
– Other operating expenses amounted to Euro 8.2 million (HY1/2014: Euro 6.4 million), attributed to expenses based on increased gaming volumes.
– Group equity increased to Euro 74.4 million (31/12/2014: Euro 67.5 million), despite a dividend payment of Euro 4.2 million in Q2 of 2015.
– Liquid funds and current securities amounting to Euro 37.2 million (31/12/2014: Euro 31.5 million).
Bet-At-Home said "due to the strength of operating revenue in the first half of 2015, the Management Board has raised its expectations for the 2015 financial year with the result that, from the current perspective, EBITDA in excess of EUR 25 million appears realistic if the legal and tax framework remain unchanged".

Online Casino News Courtesy of Infopowa

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