Company presentation. bet-at-home.com AG April 2015

Transcription

1 Company presentation bet-at-home.com AG April 2015

2 bet-at-home.com is a Europe-wide leading online gaming provider with offices in Austria, Germany, Malta and Gibraltar a listed company with 264 employees and 4.0 million registered customers worldwide a promiment partner in top sports, present throughout Europe Fact sheet: 4.0 million registered customers Listed in Frankfurt (Entry Standard) Sports betting, casino, games and poker Key figures: in TEUR FY 2011 FY 2012 FY 2013 FY 2014 Gross betting and gaming revenue 72,814 85,458 85, ,026 EBITDA 5,527 1,826 14,982 26,731 Registered users in thousands 2,717 3,235 3,583 3,985 Number of employees

3 PRODUCTS Wide range of products in the gambling sector Key figures in million EUR, business year 2014 SPORTS BETTING CASINO POKER GAMES GGR*: EUR 56,2 million GGR*: EUR 43,5 million GGR*: EUR 1,1 million GGR*: EUR 6,2 million Core product since 2000 Casino since 2005 Online poker since 2006 Games section since Sports 136 casino games Virtual poker tables 52 games online 24,000 bets available every day Live betting of important games Fringe sports: Darts, Futsal, Cricket Society bets: Elections, Oscars, etc. Roulette Blackjack Slot machines Attractive jackpots 8 kinds of poker Poker school and promotions Daily poker tournaments Lots of potential for innocation and growth Mini games Lottery games Virtual sports and much more * Gross Gaming Revenue is the most important figure in the e-gaming market = turnover winnings paid out (also gross earnings or hold) 3

4 ONLINE GAMING MARKET Development of the world market for online gaming Key figures in billion EUR World market 2012 by product: Worldwide Europe (EU 27) Growth in the world market for online gaming Increase in mobile gaming offers increases growth in consumer behaviour 24/7 gaming People are more willing to spend money on the internet online growth regardless of industry Continuous technological innovations of products, particularly in live betting and mobile gaming Low stakes means growth is possible despite worldwide recession it s a luxury treat Source: H2 Gambling Capital 4

5 INTERNATIONAL LICENSING Overview of gaming-licenses of the bet-at-home.com group: bet-at-home.com operates with valid licences for sports betting, casino and poker, which were issued by the LGA as the competent authority in Malta. The supervisory authority regularly checks the company and the services it offers in order to ensure all required security measures. Since the 24th of November 2011 bet-at-home.com has had a licence issed by the Italian gaming authority AAMS for online sports betting and online casinos. The licence is issued to bet-at-home.com Internet Ltd. in Malta and is initially valid until the 23rd of November In 2012 bet-at-home.com has received licences to operate sports betting products and online casino games by the Ministry of Interior in Schleswig-Holstein. The licences were awarded to bet-at-home.com Internet Ltd. in Malta. On October 29, 2014 bet-at-home.com received a license by the british Gambling Commission to provide online sportsbetting and online casino games in Great Britain. The license was awarded to bet-at-home.com Internet Ltd. in Malta and will be valid openended. Licences ensure legal security Licences mean fees and gambling charges 5

6 MARKETING ACTIVITIES Advertising expenditure in TEUR 50,018 41,061 34,278 Key measures to increase efficiency since FY 2013: Ongoing analysis and optimization to improve efficiency in online marketing Strengthen efforts in customer loyalty through specific CRM International campaigns rather than regional promotion campaigns Focus on targeted premium sponsorship in international sporting events 6

7 CUSTOMER DEVELOPMENT & MOBILE Development of registered customers in million EUR 5,0 4,0 3,0 2,0 1,0 0, Mobile gaming as key growth driver Ongoing optimization of products for tablets and smartphones Consumer behavior requires independent gaming 24/7 Mobile launch took place in December 2013 since then strong growth 16% of gross gaming revenues are generated via mobile devices strong upward trend 7

8 Financial Statement Fiscal Year

9 FINANCIAL STATEMENT Profit & Loss Above-average development in results Key figures in TEUR P&L in TEUR FY 2013 Q Q Q Q FY 2014 Gross gaming revenue 85,619 25,157 27,908 27,677 26, ,026 Betting fees and gaming levies -10,957-3,269-3,094-3,052-2,867-12,282 Net gaming revenue 74,663 21,888 24,814 24,625 23,417 94,744 Other income 1, Personnel expenses -12,889-3,292-3,824-3,451-3,843-14,410 Advertising expenses -34,278-7,652-16,944-9,646-6,819-41,061 Other operating expenses -14,153-3,082-3,358-3,209-3,442-13,091 EBITDA 14,982 8, ,400 9,487 26,731 Amortisation/Depreciation EBIT 14,306 7, ,229 9,094 25,802 Financial result 1, ,657 EBT 15,410 8,256 1,009 8,646 9,549 27,460 9

10 FINANCIAL STATEMENT Balance sheet Sustainable growth of equity Key figures in TEUR Balance FY 2012 FY 2013 FY 2014 Non-current assets 3,396 3,114 4,543 Receivables and other assets 8,256 41,206 57,875 Securities 906 1,143 1,235 Cash and cash equivalents 38,691 22,034 30,287 Current assets 47,853 64,383 89,396 Prepaid expenses 2,203 1, ASSETS 53,453 69,171 94,474 Increase in the loan to Betclic Everest Group S.A.S. for investment purposes to a total of EUR 45 million. Significant increase in cash and cash equivalents due to strong operating cash flow, despite dividend payment of EUR 0,80 Equity 34,295 44,589 67,450 Non-current liabilities Strong increase in equity despite dividend 2014 equity ratio at strong 71.4% Trade payables 3,517 2,527 1,265 Short-term provisions 4,405 9,937 14,148 Other liabilities 10,307 11,003 10,983 Current liabilities 18,230 23,467 26,395 Other liabilities include fiduciary custody of customers' assets of EUR 9.7 million Deferred income 889 1, EQUITY AND LIABILITIES 53,453 69,171 94,474 No bank liabilities 10

11 BET-AT-HOME.COM SHARE 60,00 55,00 Performance in FY 2014: +72.4% SHAREHOLDER STRUCTURE Betclic Everest SAS % share price volume Freefloat % 50, Management 3.75 % 45, , CHARACTERISTICS , ISIN Stock exchange DE000A0DNAY5 Frankfurt 30, Type of trading Entry Standard RESEARCH COVERAGE Date Analyst Target Rating 31/03/2015 Silbe/Thomalla, Oddo Seydler EUR BUY 03/03/2015 Räther, Warburg Research EUR BUY Total number of shares 3,509,000 Ticker Symbol ACX Reuters ARTG.DE Bloomberg ACX GR 31/03/2015 Bayer, Hauck & Aufhäuser EUR BUY Market Cap ( ) EUR million 11

12 OUTLOOK As of January 1, 2015, the place of performance within the European Union with respect to turnover tax has changed to the effect that payments in the field of e-gaming are now made at each location at which the customer is officially registered, instead of where the registered office of the providing company is located as was the case before. Guidance Financial Year 2015 From the current perspective and if the regulatory framework remains unchanged in the 2015 financial year, the Board of Directors anticipates a slightly higher gross betting and gaming revenue compared to financial year For the 2015 financial year, and taking into account the turnover tax risk explained above, the Board of Directors expects EBITDA of between EUR 15 million and EUR 20 million. The range between the two figures is accounted for by the fact that there are legal uncertainties with regard to the actual payment date in some EU countries in connection with the impending turnover tax payments. 12

13 INVESTOR RELATIONS FINANCIAL CALENDAR /05/2015 Interim Report Q /05/2015 Annual General Meeting 2015 CONTACT Klaus Fahrnberger / ir@bet-at-home.com 10/08/2015 Interim Report Q /09/2015 Half-Year Report /11/2015 Interim Report Q /03/2016 Full Year Results

14 DISCLAIMER This presentation is for information purposes only and may not be copied in its entirety or in part, for any purpose or passed on to third parties or made public. This presentation contains written documentation or slides for a presentation on bet-at-home.com AG ("the company") and its operations. This presentation does not constitute a solicitation or offer to sell, purchase or subscribe to shares in the company. The information and opinions expressed therein do not form the basis of any contract or investment decision. This presentation contains forward-looking statements, that means statements which are not historical facts, including statements about the beliefs and expectations of the company and the company's objectives in regards to the future development of the business. These statements are based on current plans, estimates as well as projections and therefore should not be excessively evaluated by investors. Forward-looking statements are only relevant as of the date in which they are made and the company is not obliged to make such statements in terms of new information, future developments up to the latest date and publish revised statements.. Although this presentation has been prepared with the utmost care with respect to the accuracy of the facts, the material within this presentation has not been checked by the company. Neither the company, its managers or any third party offer any guarantee, expressed or implied in underlying the accuracy or completeness of this presentation, information or opinions. Neither the company or any of its members, managers, representatives or employees or any third party shall have any liability for any damages arising from the use of this presentation or its contents or in connection therewith. 14