Bet-at-home announces revenue growth despite Austrian tax charge

11 Nov 2019

Bet-at-home AG has announced that it bolstered its commercial status and its revenue, in spite of the €11.5 million Austrian tax burden that was imposed on it. The Frankfurt Xetra-listed operator published its Q3 2019 trading statement and reported a 2.5% year-to-date increase in its betting and gaming revenues, which amount to €107 million.

What Kept Bet-at-Home Profitable?

It also highlighted the fact that it was able to maintain its year-to-date betting capacity at €2.4 billion, although it had to compete against some very tough 2018 comparatives that featured the FIFA 2018 World Cup trading.

The well-known bookmaker stressed that its product portfolio had been developed due to the advertising campaigns generated by its ‘core market’ (which consists of Germany and Poland), which boosted player activity. It is also worth noting that despite this increased advertising activity, Bet-at-home has managed to maintain its year-on-year marketing expenses at €29 million, which helped it increase its local player base to 5.2 million.

During the Q3 2019 trading period, Bet-at-home launched its latest advertising campaigns that helped it post a 13% YTD EBITDA boost to €27 million. After closing Q3 trading, its administration declared a YTD EBIT tracking at €25.6 million.

Despite the €11.5 million ‘Austrian subsidiary’ tax claim that its administration had to pay, which led the company to impute €19.5 million to income taxes and eventually declare YTD profits of €5.8 million, it managed to achieve a top-line performance.

It is also worth mentioning that Bet-at-home’s administration sustains its guidance generating revenues for 2019 between €130 to €143 million, together with an EBITDA target of €29-33 million.

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