DGAP-News: Betbull Holding SE ('Betbull') announces the release of group consolidated unaudited financial statements for the quarter ended 31st March 2011
ID: 417565
Betbull Holding SE ('Betbull') announces the release of group
consolidated unaudited financial statements for the quarter ended 31st
March 2011
01.06.2011 / 12:00
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Betbull Holding SE ('Betbull') announces the release of group consolidated
unaudited financial statements for the quarter ended
31st March 2011
1. Financial highlights for the quarter
- Betting stakes of EUR 18.5m for the quarter up 1.1% compared to EUR
18.3m in QIV 2010 and down 8.4% compared to EUR 20.2m in QI 2010.
- Net gaming revenue of EUR 3.6m for the quarter up 28.6% compared to EUR
2.8m in QIV 2010 and down 7.7% compared to EUR 3.9m in QI 2010.
- EBITDA of EUR 0.5m for the quarter down EUR 1.0m compared to EUR 1.5m
in QIV 2010 and equal to EUR 0.5m in QI 2010.
- Profit for the quarter of EUR 0.2m down EUR 2.3m compared to EUR 2.5m
in QIV 2010 and up EUR 0.7m compared to
EUR (0.5)m in QI 2010. Extraordinary profit of EUR 2.8m in QIV 2010 and
loss of EUR 0.5m in QI 2010 include profit/loss in connection with
discontinued operations and share benefit charge.
- Cash position as at 31 March 2011 of EUR 8.9m compared to EUR 8.8m as
at 31 December 2010 and EUR 4.7m as at 31 March 2010.
- Business highlights for the quarter
During the first three months of 2011 Betbull's core business in Germany
has performed well and stable even though it is operating in a still vague
legislative environment with a steadily increasing grey market offering.
The good results obtained can be attributed to the strengthening of the
group's team while having reduced the total overhead costs and well
considered investments in fully licensed retail betting outlets and gaming
halls.
Commenting on today's press release Alexander Leip, Managing Director of
Betbull Holding SE, said:
'Now with the clear focus on the German market we are confident to meet all
challenges of a regulated and liberalised gambling and sports betting
market. We are hopeful that the legislative body in Germany will establish
adequate and fair regulations on gaming which will abandon the years of
legal uncertainty in the sector of sports betting. Betbull is currently
evaluating various strategic partnering options. Thanks to our expertise
and good reputation we are looking forward facing the challenges ahead.'
Betbull Holding SE
Consolidated Income Statement
For the quarter ended 31 March 2011Betbull Holding SE
2011 2010
(3 months) (3 months)
Continuing operations EUR EUR
Betting stakes 18,540,330 20,152,480
Customer winnings (14,452,69 (15,456,83
7) 0)
Gross hold 4,087,633 4,695,650
Other gaming income 483,975 360,479
Commissions to third party agents and bonuses (1,027,758) (1,166,437)
Net gaming revenue 3,543,850 3,889,692
Other operating income 32,2359,295
Total income 3,576,085 3,898,987
Direct costs and betting taxes (620,036) (653,549)
Gross profit 2,956,049 3,245,438
Personnel costs (1,425,805) (1,299,822)
Cost of premises (851,367) (799,148)
Mobility and distribution costs (107,243) (130,037)
Other operating costs (82,662) (455,801)
EBITDA and before share benefit charge 488,972 560,630
Share benefit charge (12,007) (27,230)
EBITDA 476,965 533,400
Depreciation&amortisation of investments (103,281) (165,604)
EBIT 373,684 367,796
Financial result 5,741 (10,172)
Profit/(loss) before tax 379,425 357,624
Taxation (184,013) (420,594)
Profit/(loss) for the quarter from continuing 195,412 (62,970)
operations
Discontinued operations
Loss for the quarter from discontinued - (450,401)
operations
Profit/(loss) for the quarter 195,412 (513,371)
Consolidated Balance Sheet
As at 31 March 2011
2011 2010- ENDS -
EUR EUR
Goodwill, intangible assets and investments 15,552,281 16,257,881
Fixed assets 823,905 1,986,144
Non-current assets 70,614 334,475
Current assets 2,136,209 3,429,340
Cash and cash equivalents 8,939,094 5,061,966
Total assets 27,522,103 27,069,806
Equity 11,714,624 11,714,624
Losses (12,899,596) (16,101,295)
Reserves 26,363,385 27,874,363
Current liabilities 2,343,690 3,582,114
Total equity and liabilities 27,522,103 27,069,806
Contact
David De Marco.
d.demarco@betbull.com
Phone +356 21494443
Fax +356 21480132
Betbull Holding SE
Mariahilfer Straße 116
1070 Vienna
Austria
Betbull Holding SE is registered at the Commercial Court of Vienna under
the Company register Number FN 353397b (formerly registered in England&Wales under the Registration Number SE12).
This communication can be downloaded from the website www.betbullse.com.
About Betbull:
Betbull is an established provider of gaming centred retail entertainment,
based in Vienna, Austria. Betbull offers its customers principally horse
and sport betting at licensed betting shops, complemented by slot machines,
internet betting and sport bars. Betbull accepts bets based on licences in
Malta and Germany. In Germany, Betbull products are available above all
under the 'Wettenleip' brand. Betbull itself has been quoted on the Third
Market of the Vienna Stock Exchange ('Other Securities') since October 2004
(ISIN AT0000A0KPX9, formerly AT0000615331) and was established as a joint
venture between Fun Technologies Plc and bwin Interactive Entertainment AG.
For detailed information on Betbull, visit www.betbullse.com.
End of Corporate News
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Language: English
Company: Betbull Holding SE
15 Fetter Lane
EC4A 1JP London
Großbritannien
Phone: +356 21480131
Fax: +356 21480132
E-mail: info@betbull.com
Internet: www.betbullplc.com
ISIN: AT0000615331
WKN: A0DKM0
Listed: Freiverkehr in Berlin, Stuttgart; Open Market in
Frankfurt; Wien (Dritter Markt (MTF) / Third Market (MTF))
End of News DGAP News-Service
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127156 01.06.2011Unternehmensinformation / Kurzprofil:
Datum: 01.06.2011 - 12:00 Uhr
Sprache: Deutsch
News-ID 417565
Anzahl Zeichen: 9502
Kontakt-Informationen:
Kategorie:
Wirtschaft (allg.)
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