bet-at-home reveals ongoing revenue growth in Q1

bet-at-home has followed up on a record performance in 2016 by achieving further financial growth in the three months to March 31, 2017.

Gross betting and gaming revenue in the first quarter of the year amounted to €37.2 million ($40.5 million), up 23% on the corresponding period last year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) came in at €7.5 million, which is down on the opening three months of last year, but in line with management’s guidance for the full year.

In addition, earnings before interest and tax fell from €7.3 million to $4.6 million, while cash and cash equivalents and marketable securities at the end of the first quarter came in at €106.3 million.

In a statement, bet-at-home said: “From the current perspective, and assuming an unchanged regulatory, fiscal and tax law environment, the management board expects gross betting and gaming revenue amounting to €144 million in the 2017 fiscal year.

“Furthermore, the management board assumes EBITDA to reach a level between €34 million and €38 million in 2017.”

Related article: bet-at-home reveals record financial results in 2016