New customers and reduced acquisition costs drive strong results
In a preliminary first quarter 2016 estimate German lottery firm Lotto24 AG said an increase in new customers and significantly reduced acquisition costs augur well for a successful first quarter.
Key highlights for the period ending March 31, 2016 include:
– A 66 percent rise in billing to Euro 41.4 million (Q1/2015: Euro 25 million).
– An 85 percent rise in revenues to Euro 4.4 million (Q1/2015: Euro 4.4 million)
– Gross margin of 10.7 percent (Q1/2015: 9.5 percent)
– Customer acquisition strategy surrounding Euro 75 million EuroJackpot resulted in 106,000 new sign-ups (Q1/2015: 56,000)
– Total customer base reached 989,000 (Q1/2015: 577,000)
– EBIT improved to Euro -2.1 million (prior year: Euro -3 million and the net result amounted to Euro -0.9 million (Q1/2015: Euro -2.6 million).
Online Casino News Courtesy of Infopowa