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mybet Holding SE: Publication of report on first nine months of 2015

DGAP-News: mybet Holding SE / Key word(s): 9-month figures

2015-11-12 / 08:44

- 3.2% growth in betting stakes despite FIFA World Cup last year

- Strong increase in mobile business: betting stakes quadrupled year on year

- Betting stakes at German shops up approx. 20% on previous year

- "Hera" project on schedule: roll-out of new IT platform expected in early 2016

Kiel, November 12, 2015 - mybet Holding SE (Deutsche Börse, Prime Standard, ISIN DE000A0JRU67) today published its figures for the first nine months of 2015. The company's ongoing measures to improve its existing product portfolio and optimize its CRM activities are already reflected in its operating results: in the reporting period, total betting stakes in the company's core business Sports Betting displayed year-on-year growth - despite the positive effect from the FIFA World Cup in the previous year. The Management Board of mybet regards this operating trend as a vindication of the strategy it is pursuing.

In the core segment Sports Betting, there was an increase in betting stakes of 3.2 percent in the reporting period of 2015. Average betting stakes online improved to EUR 413 per active customer (previous year: EUR 344). In its retail business (offline), mybet recorded growth in betting stakes of 7.3 percent across all outlets. Growth at the company's German shops was even more impressive: betting stakes increased by around 20 percent. There was also high growth in betting stakes in the high-margin mobile business, with a fourfold increase over the previous year. Capital controls in Greece had a negative impact on the Sports Betting and Casino & Poker segments in the third quarter. Despite this effect, however, revenue of EUR 29.5 million in the Sports Betting segment was more or less on a par with the previous year (EUR 30.1 million). At EUR 15.9 million, revenue in the Casino & Poker segment after the first nine months of 2015 was also slightly down on the previous year (EUR 16.4 million). In the Horse Betting segment, however, there was significant growth in revenue to EUR 7.0 million (previous year: EUR 5.0 million).

With the roll-out of the new IT platform, the Management Board has decided to completely replace the existing systems. As a result, there were one-off writedowns on legacy software of EUR 3.4 million in the third quarter and the remaining useful life of the existing platform was adjusted. This placed a corresponding burden on earnings before interest and taxes (EBIT) for the first nine months of 2015. In the reporting period, EBIT amounted to EUR -4.7 million. Adjusted for writedowns and the effect of capital controls in Greece, EBIT amounts to EUR -1.3 million (previous year: adjusted EUR -0.9 million).

Zeno Ossko, CEO of mybet Holding SE, comments: "The positive trend in our core market is a vindication of our strategy. By focusing on our operating business and strongly improving customer lifecycle management, we have achieved much higher betting stakes per customer. In addition, our mobile offering has been very well received. The improved results in our retail business are also attributable to our product and quality drive. The successful implementation of our omni-channel strategy that enables our customers to use the entire product portfolio via a central customer account - whether online, mobile, at the terminal, or in the shop. This close linking of all sales channels significantly enhances customer loyalty and forms the basis for sustainable revenue and earnings growth. With the roll-out of our greatly improved products and platform in the coming year, we aim to build on this success."

In line with its focus on core business, mybet has sold its affiliate C4U-Malta Ltd. As a result of improved conditions in the field of payment processing and cost savings, the Management Board anticipates further positive effects on earnings as of 2016. Markus Peuler, CFO of mybet Holding SE, states: "Together with the new IT platform, the expanded product range will give us a decisive competitive advantage in the medium term. In conjunction with optimised processes and structures, we expect this to lead to sustainable earnings growth as of 2016."

The full 9-Month Report 2015 will be made available today on the following websites:

German report: https://mybet-se.com/category/finanzberichte/

English report: https://mybet-se.com/en/category/finanzberichte/

Key figures for the first nine months and the third quarter of 2015

  9M 2015 9M 2014 Change Q3 2015 Q3 2014 Change
  EUR '000 EUR '000   EUR '000 EUR '000  
Revenue 52,971 52,291 1.3% 16,678 17,872 -6.7%
Sports Betting 29,485 30,141 -2.2% 9,605 10,262 -6.4%
Casino & Poker 15,934 16,363 -2.6% 4,244 5,444 -22.0%
Horse Betting 7,041 5,014 40.4% 2,662 1,888 41.0%
509 769 -33.8% 166 274 -39.4%
EBITDA 517 1,766 -70.7% 45 -2,156 N/A
EBITDA adjusted 517 664 -19.7% 45 -235 N/A
EBIT -4,711 214 N/A -3,955 575 N/A
EBIT adjusted -1,344 -887 N/A -588 -719 N/A
Net profit/loss            
for the period -4,417 -94 N/A -4,180 440 N/A
Earnings per share (EUR) -0.22 -0.03 N/A -0.17 -0.01 N/A
  30.9.2015 31.12.2014        
Cash and cash            
equivalents 4,6821 8,676 -28.2%      
Shareholders' equity 14,551 18,934 -23.2%      
Equity ratio 44.7% 51.2% -7.8 PP      

¹ex C4U

mybet Holding SE
Investor Relations & Corporate Communications
Yulia Link
Tel. : +49 (40) 85 37 88 0
Fax : +49 (40) 85 37 88 30
Mail : yulia.link@mybet.com

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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