DGAP-News: Betbull Holding SE ('Betbull') announces the release of group consolidated unaudited financial statements for the quarter ended 31st March 2013
(firmenpresse) - DGAP-News: Betbull Holding SE / Key word(s): Quarter Results
Betbull Holding SE ('Betbull') announces the release of group
consolidated unaudited financial statements for the quarter ended 31st
March 2013
17.06.2013 / 15:00
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Betbull Holding SE ('Betbull') announces the release of group consolidated
unaudited financial statements for the quarter ended 31st March 2013
1. Financial highlights for the quarter
- Betting stakes of EUR 14.6m for the quarter down 25.1% compared to EUR
19.5m in QI 2012.
- Net gaming revenue of EUR 3.3m for the quarter down 5.7% compared to
3.5m in QI 2012.
- EBITDA of EUR 0.2m for the quarter down minimally compared to EUR 0.2m
in QI 2012.
- Adjusted EBITDA (before share benefit charges) of EUR 0.2m for the
quarter down EUR 0.1m compared to EUR 0.3m in QI 2012.
- Loss for the quarter of EUR 0.2m down EUR 0.3m compared to profit of
EUR 0.1m in QI 2012.
- Cash position as at 31 March 2013 of EUR 6.1m compared to EUR 6.7m as
at 31 December 2012.
The unaudited financial statements for the quarter ended 31st March 2013
will be published on the corporate website www.betbull.com.
- Business highlights for the quarter
Betbull's business performance in quarter 1 was impacted mainly by the
following facts: (i) the new German sports betting tax of 5% on stakes
introduced 1 July 2012, (ii) a comparatively high hold margin and (iii) a
reduced number of active betting outlets due to the on-going
re-organisation of the shop portfolio.
The performance of Betbull's gaming halls and slot machines in the betting
outlets slightly improved.
Commenting on today's press release Alexander Leip, Managing Director of
Betbull Holding SE, said:
'Our modest business performance in quarter 1 is a result of the
consolidation process of the Betbull group initiated in 2012 to streamline
the business in preparation of the upcoming market regulation in Germany
and in support of the ongoing sports betting license process.
We have filed our application papers for the tender process in January 2013
and are optimistic to obtain one of the sports betting licenses. Even
though our initial goal to expand our retail betting business latest in
summer 2013 could not be met due to the regulatory process taking longer
than expected, we are positive that sports betting licenses in Germany will
finally be granted in quarter 3 and Betbull will obtain one of these
licenses and our expansion plan will go into full effect', concludes
Alexander Leip.
Betbull Holding SE
Consolidated income statement
for the quarter ended 31 March 2013
____________________________________________________________________
2013 2012
(3 months) (3 months)
EUR EUR
Betting Stakes 14,612,090 19,496,193
Customer winnings (11,138,584) (15,589,978)
____________ ____________
Gross hold 3,473,506 3,906,215
Other gaming income585,963 520,639
Commissions to third (722,422) (957,748)
Party agents and bonuses
____________ ____________
Net gaming Revenue 3,337,047 3,469,106
Other operating income 14,647 33,263
____________ _____________
Total income 3,351,694 3,502,369
Direct costs (567,767) (750,123)
and betting taxes
____________ _____________
Gross profit 2,783,927 2,752,246
Personnel costs (1,298,188) (1,358,706)
Cost of premises (813,300) (776,099)
Mobility and (128,681) (107,206)
Distribution costs
Other operating costs (357,121) (253,731)
____________ ___________
EBITDA before share 186,637 256,504
benefit charge
Share benefit Charge (12,500) (30,768)
____________ ____________
EBITDA 174,137 225,736
Depreciation (139,707) (92,040)&amortisations
___________ ____________
EBIT 34,430 133,696
Financial result 1,218 13,262
Profit before tax 35,648 146,958
Taxation (203,725) (26,372)
____________ ____________
(Loss)/profit for (168,077) (120,586)
the quarter
_____________ ____________
Betbull Holding SE- ENDS -
Consolidated balance sheet
at 31 March 2013
____________________________________________________________________
2013 2012
(3 months) (3 months)
EUR EUR
Goodwill and investments 10,177,493 15,684,454
Fixed Assets 2,307,005 1,212,616
Non-current assets 95,099 180,154
Current assets 1,092,235 2,322,274
Cash and cash equivalents 6,113,172 7,682,361
____________ ____________
Total assets 19,785,004 27,081,859
____________ ____________
Equity 11,714,624 11.714.624
Profits/(losses) (2,056,324) 5,130,131
Reserves 8,196,100 8,168,552
Current liabilities 1,930,604 2,068,552
____________ ____________
Total equity and 19,785,004 27,081,859
liabilities
____________ ____________
Contact
David De Marco
d.demarco(at)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.betbull.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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17.06.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Betbull Holding SE
Mariahilfer Straße 116
1070 Wien
Austria
Phone: +356 21480131
Fax: +356 21480132
E-mail: info(at)betbull.com
Internet: www.betbullse.com
ISIN: AT0000A0KPX9
WKN: A1C86G
Listed: Freiverkehr in Berlin, Stuttgart; Wien (Dritter Markt
(MTF) / Third Market (MTF))
End of News DGAP News-Service
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216667 17.06.2013
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Datum: 17.06.2013 - 15:00 Uhr
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News-ID 270280
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