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EQS-News: bet-at-home.com AG / Key word(s): Quarter Results
bet-at-home.com AG: Group figures for the first quarter 2024
2024-05-14 / 10:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
CORPORATE NEWS

bet-at-home.com AG: Group figures for the first quarter 2024

Düsseldorf, 14 May 2024. The bet-at-home.com AG Group (hereinafter also referred to as "BaH Group") announces its first
quarter 2024 financial results.

Major developments in the first quarter 2024
The Group's strategic transformation will be consistently continued in the 2024 financial year. In the area of
technological development, the internal focus is made on the creation and introduction of an innovative customer
loyalty programme based on real-time data processing and machine learning. In close cooperation with EveryMatrix, the
online casino and sports betting product as well as the customer platform are being continuously improved and adapted
to customer needs and legal requirements of the German-speaking market.
In the current financial year 2024, the BaH Group places its marketing focus on the first half of the year, notably on
the beginning of the European Football Championship 2024, which will take place from mid-June to mid-July in the core
market of Germany. As planned, marketing expenses in the first quarter 2024 were therefore above the previous year's
value.
Revenue development in the first quarter 2024
Gross betting and gaming revenue in the first quarter 2024 amounted to EUR 11,737 thousand, which is 11.7% lower than
in the same period of last year (1Q 2023: EUR 13,292 thousand). This decline resulted mainly from regulatory
developments in the core market of Germany, particularly from the introduction of cross-product and cross-provider
monthly betting limits in Germany effective from mid-2022, as well as the regulatory obligation to report increased
deposit limits starting from the second quarter 2023.
Earnings development in the first quarter 2024
Personnel expenses reduced by 17.3% year-on-year to EUR 2,058 thousand.
Advertising expenses grew by EUR 1,797 thousand compared to the same period of last year to EUR 4,532 thousand (1Q
2023: EUR 2,735 thousand). This increase reflects investments in awareness of the "bet-at-home" brand in the key
markets of Germany and Austria before the start of the European Football Championship 2024.
Other operating expenses reduced by 25.4% to EUR 2,599 thousand.
EBITDA before special items[*] in the first quarter 2024 amounted to EUR 208 thousand and was below the level recorded
in the same period of last year (1Q 2023: EUR 2,458 thousand).

Asset and capital structure
The Group's consolidated equity as of 31 March 2024 totalled EUR 27,825 thousand (31 December 2023: EUR 27,444
thousand). Cash and cash equivalents within the bet-at-home.com AG Group amounted to EUR 34,565 thousand as of 31 March
2024 (31 December 2023: EUR 34,645 thousand).

Outlook for the current financial year 2024
As a result of extensive initiatives and supported by the European Football Championship 2024, the Management Board
expects the Gross betting and gaming revenue to be in the range of EUR 45 million to EUR 53 million, and the EBITDA
before special items[*] to be from EUR -1 million to EUR 2.5 million.

Group statement for the first quarter 2024
The detailed Group quarterly statement can be downloaded on the Group's Investor Relations website at https://
www.bet-at-home.ag/en/financial-figures/download/ .



About bet-at-home.com AG
The bet-at-home.com AG Group is active in the domain of online sports betting and online gaming. With 5.7 million
registered customers, the company (which is listed on the Frankfurt stock exchange in the Prime Standard segment)
represents together with its subsidiaries, one of the largest providers in Europe. The bet-at-home.com AG Group has
companies in Germany, Austria, Malta and Gibraltar. The bet-at-home.com AG Group holds various licenses via its Maltese
companies for online sports betting and online gambling. These licences authorise the company to organise and to sell
online sports betting and online casinos in Germany as well as in other countries of the European Union. bet-at-home is
certified according to ISO/IEC 27001:2013 for all Group companies in Germany, Austria and Malta.
Since 2009, bet-at-home.com AG has been part of the Betclic Everest SAS Group, a French group specialising in online
gambling and online sports betting. FL Entertainment N.V. holds the majority of shares and voting rights in
bet-at-home.com AG via Betclic Everest SAS. The bet-at-home.com AG Group is therefore included in the consolidated
financial statements of FL Entertainment N.V., which are disclosed on a regular basis on the dates specified in the FL
Entertainment N.V. financial calendar.


Other financial information - EBITDA before special items as an alternative performance measure
The financial information included in this press release is prepared in accordance with the actual financial reporting
standards. In addition to the information and key measures required therein, the BaH Group discloses in the financial
year 2023 for the first time an EBITDA before special items as an alternative performance measure (Alternative
Performance Measures = APM), which is not included in these reporting standards and for which there is no generally
accepted reporting standard (non-IFRS measure). Although the data has been extracted or derived from the consolidated
financial statements, neither this data nor the underlying assumptions have been audited or reviewed. This key measure
should therefore only be regarded as supplementary information. EBITDA before special items represents the Group's
operating result before special effects, i.e. the Group's result adjusted for special expenses and special income (i.e.
effects that are special in terms of their nature and amount for management of the Group). Special items may include
restructuring, legal cases in connection with customer claims, as well as closures or disposals of parts of the
company.
The EBITDA before special items calculated in this manner applies to all periods and is used both internally to manage
the business and externally to assess the performance and efficiency of the BaH Group starting 2023.


Contact
Investor Relations
+49 211 179 34 770
ir@bet-at-home.com
www.bet-at-home.ag


^[*] For the definition of the non-IFRS performance measure of "EBITDA before special items" refer to the Section
"Other financial information - EBITDA before special items as an alternative performance measure" of this press release

^[*]
2024-05-14 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.eqs-news.com  
Language:     English 
Company:      bet-at-home.com AG 

Tersteegenstrasse 30
40474 Düsseldorf
Germany

Phone:        +49 211 545 598 77 
Fax:          +49 211 545 598 78 
E-mail:       ir@bet-at-home.com 
Internet:     www.bet-at-home.ag 
ISIN:         DE000A0DNAY5 
WKN:          A0DNAY 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 

Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1902227

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1902227 2024-05-14 CET/CEST

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END) Dow Jones Newswires

May 14, 2024 04:00 ET (08:00 GMT)