German online operator Bet-at-home has reported EBITDA of €36.2m for the financial year 2018, the highest such figure in the group’s history.
Eclipsing the corresponding figure for 2017 (€35.5m), EBIT at constant depreciation also increased to €34.9m (€34.1m), while after the deduction of taxes on income and earnings of €2.4m (€2.8m), consolidated profit for FY2018 was €32.6m (€32.8m).
Gross betting and gaming revenue for the period stood at €143.3m, while cash and short-term time deposits was €78.3m.
Strengthening its presence and brand awareness in core European markets, Bet-at-home achieved its highest betting and gaming volume, at €3.188bn.
VAT regulations had an adverse impact on earnings, with net betting and gaming revenue for FY2018 at €115.1m (FY2017: €117.8m).
“From the current perspective, and assuming an unchanging regulatory and tax law environment, the management board expects a gross betting and gaming revenue between €130m and €143m in the fiscal year 2019,” the company stated.
“The decline in gross betting and gaming revenue compared to the financial year 2018 is attributable to legal uncertainties in Switzerland. Furthermore, the management board expects EBITDA to amount between €29m and €33m in the fiscal year 2019.”
