mybet Holding SE
mybet Holding SE: Negative trend in revenue development from the previous quarters continues one more time in first quarter 2017
DGAP-News: mybet Holding SE / Key word(s): Quarterly / Interim Statement mybet Holding SE: Negative trend in revenue development from the previous quarters continues one more time in first quarter 2017 Berlin, 30 May 2017. In the first quarter of the financial year 2017 the mybet Group has reached group revenue of EUR 8.9 million. By this, revenue was down 28.9 percent against the comparable figure of the previous year (PY: EUR 12.5 million) and correspondingly the negative trend of the previous quarters continued one more time. Although mybet was able to complete the development and testing phase of the newly developed sports betting and casino platform by the end of the quarter with the full commissioning, the online business between January and March was carried out to a large extent on the old product platform correspondingly. At the same time the entire sports betting sector was affected by, from a statistical point of view, an unusual accumulation of won sports bets and so was mybet, too. This extraordinary high number of sports results forecast correctly by the customers occurred especially in February and March in the most popular betting sport football and had a strong negative impact on our hold from sports betting. In addition mybet’s online casino was still out of operation during the first quarter 2017 due to the complaints raised by the authorities that could not be resolved by now. “In the first quarter the existing trend in the development of the business basically continued, since we have put our new platform into operation by the end of the quarter. However the sports results and the high number of won bets by customers connected with them formed an additional burden which we had never experienced this way during the last years. But in total the quarter clearly shows why we did not forecast a large growth in revenue for the financial year 2017 despite the new platform. We firstly have to break the downward trend”, said Markus Peuler, CEO of mybet Holding SE. The earnings before interest, taxes, amortisation and depreciation (EBITDA) of mybet Group was EUR -2.2 million and due to the revenue development also very clearly below the comparable figure of the previous year (PY: EUR -0.8 million). Correspondingly the earnings before interest and taxes (EBIT) of EUR -2.6 million also fell clearly behind of previous year’s value in the first quarter of 2017 (PY: EUR -1.0 million). Retail and B2B business continue to develop well Financing situation improved, earnings and liquidity forecast raised Based on this profit and loss affecting settlement payment the Management Board of mybet Holding SE has adjusted the operational plans and raised the earnings and liquidity forecast for the current financial year 2017 of mybet Group. With revenue between EUR 44.5 and 47.0 million mybet plans with an EBIT between EUR 4.5 and 5.5 million and a cash position at the end of the year of EUR 1.0 to 2.0 million. mybet Holding SE Contact tel +49 30 22 90 83 161
30.05.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | mybet Holding SE |
Karl-Liebknecht-Straße 32 | |
10178 Berlin | |
Germany | |
Phone: | +49 30 22 90 83 0 |
Fax: | +49 30 22 90 83 150 |
E-mail: | ir@mybet.com |
Internet: | www.mybet-se.com |
ISIN: | DE000A0JRU67 |
WKN: | A0JRU6 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |