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
---------------------------------------------------------------------
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 ____________________________________________________________________
---------------------------------------------------------------------
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. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English Company: Betbull Holding SE Mariahilfer Straße 116 1070 Wien Austria Phone: +356 21480131 Fax: +356 21480132 E-mail: info@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
---------------------------------------------------------------------
216667 17.06.2013
---------------------------------------------------------------------
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 income 585,963 520,639
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
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
____________ ____________
- ENDS - Contact David De Marco d.demarco@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---------------------------------------------------------------------
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. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English Company: Betbull Holding SE Mariahilfer Straße 116 1070 Wien Austria Phone: +356 21480131 Fax: +356 21480132 E-mail: info@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
---------------------------------------------------------------------
216667 17.06.2013
