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mybet Holding SE publishes report on the first half of 2014


mybet Holding SE / Key word(s): Half Year Results

14.08.2014 / 08:45


mybet Holding SE publishes report on the first half of 2014

 

- EBIT of EUR -361 thousand slightly above planning corridor

- Significant improvement of earnings over the previous year (up EUR 1.3 million)

- Confirmation of full year forecast

- Positive impulses through improved stability and World Cup business

Kiel, August 14, 2014 mybet Holding SE (Deutsche Börse, Prime Standard, ISIN DE000A0JRU67) is publishing its report on the first half of the 2014 financial year today. Group revenue following the first half of 2014 at EUR 34.4 million was 0.4 percent above that of the comparative period of the previous year (H1 2013: EUR 34.3 million). Adjusted to remove the revenue of DIGIDIS S.L., which was deconsolidated already in November 2013, revenue growth in the first six months of 2014 is 6.5 percent (adjusted revenue H1 2013: EUR 32.3 million). The growth in the first half of 2014 of 16.6 percent in the segment Sports Betting and 31.3 percent in the Horse Betting segment was able to offset the decline in the area Casino & Poker caused by regulations as well as the loss of the segment Lottery. Following the deconsolidation of the Spanish subsidiary DIGIDIS S.L. in November 2013, the mybet Group is no longer in the lottery business. In the last half of 2013, this segment had provided sales of only EUR 1.8 million. After the first six months of 2014, the company reflects slightly negative earnings before interest and taxes (EBIT) of EUR -361 thousand but was able to significantly improve profitability in comparison with the same period of the previous year (H1 2013: EUR -1.6 million). In total, revenue and earnings figures meet the planning of the company.

The segment Sports Betting developed positively in the first half of 2014. The reasons for this were the significantly improved system stability, the roll-out of the loyalty card and the increasing new customer figures in conjunction with the Soccer World Cup. In the second quarter of 2014 and in the first half of 2014, the betting stakes were 9.4 and 5.3 percent, respectively, above those of the corresponding periods of 2013. This resulted in absolute betting states of EUR 47.3 million and EUR 94.2 million. The hold (stakes less payouts of winnings) increased by 8.7 percent to EUR 18.7 million. The stakes in the online area at EUR 51.5 million are almost at the level of the previous year (H1 2013: EUR 51.6 million). The offline betting stakes rose significantly by 12.9 percent to EUR 42.8 million (H1 2013: EUR 37.9 million).

In the first half of 2014, revenue fell as scheduled in the Casino & Poker segment from EUR 12.4 million in the comparative period of the previous year by 11.9 percent to EUR 10.9 million. In the comparative period in the previous year, there were still revenues from European markets which are now no longer served.

The Horse Betting segment in the first half of 2014 recorded an increase in revenue from EUR 2.4 to EUR 3.1 million. This was the result of strong growth of online business. Revenue of the other operating segment, which is strongly impacted by the activities of C4U Malta Ltd., fell in the first half of 2014 in comparison with the comparative period of the previous year from EUR 601 thousand to EUR 495 thousand.

The liquidity position of the mybet Group improved further in the first half of 2014 in comparison with December 31, 2013. At the end of the second quarter 2014, the company had cash and cash equivalents of EUR 9.2 million.

Outlook

After the first half of 2014, the outlook for the second half and the full 2014 year overall is at the upper end of our expectations. One of the most significant events in the second half of 2014 is the possible issuance of a licence by the Hessian Ministry of the Interior and for Sports. But at the present time it continues to be open as to when the decisions in this regard will be made, and what they will be. mybet will continue to concentrate fully on the successfully initiated implementation of the turn-around - the first important steps were already taken in the first half of 2014 and are reflected both in the increase in revenue and also in profitability in the first half year.

With the start of the soccer season in Europe at the end of August 2014, the core business of providers of sports betting will begin again. Seasonally, the second half year is the strongest phase in the annual financial cycle of betting providers. For the full 2014 year, the Management Board continues to expect a balanced, slightly positive EBIT with slightly increasing revenue of EUR 70 to 75 million.

 

Key figures 6M 2014

  6M 2014 6M 2013 Change
  EUR '000 EUR '000 %
Revenue 34,419 34,269 +0.4
Sports Betting 19,879 17,043 +16.6
Casino & Poker 10,919 12,398 -11.9
Lotteries 0 1838 n.a.
Horse Betting 3,126 2,380 +31.3
Other 495 601 -17.6
EBITDA 707 -51 n.a.
EBIT -361 -1,633 n.a.
Net profit/loss for the period -533 -776 n.a.
Earnings per share (diluted) (EUR) -0.04 -0.04 n.a.
       
  6/30/2014  12/31/2013  
Cash and cash equivalents 9,249 7,965  
Shareholder's equity 17,777 18,306  
Equity ratio 47.1% 47.4%  
 

 

The six month report will be made available for download on Thursday, August 14, 2014, on the internet sites www.deutsche-boerse.com and www.mybet-se.com.

 




Contact:
mybet Holding SE
Investor Relations & Corporate Communications
Yulia Link
Tel. +49 (40) 85 37 88 47
Fax +49 (40) 85 37 88 30
Mail yulia.link@mybet.com




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