Bets increase 20.8% in first half of 2014 for Fortuna, EBITDA up 16.4% to EUR 15m
Amsterdam/Prague/Warsaw – Fortuna Entertainment Group, the leading Central European fixed-odds betting operator, recorded for the first half of 2014 Amounts Staked of EUR 333.2m, up by 20.8% compared to the same period of the previous year. Group EBITDA (i.e. Earnings Before Interest, Tax, Depreciation and Amortisation) grew to EUR 15m, up by 16.4% compared to the first half of 2013.
“The results achieved were predominantly influenced by the three major sporting events that took place in the first half of this year. And it was most particularly the World Cup in Brazil that confirmed football’s unchallenged position as the number one sport when it comes to fixed-odds betting,” said Radim Haluza, CEO and Chair of the Board of Fortuna Entertainment Group. ”in line with our expectations, we recorded growth for all key parameters and on all markets where Fortuna operates. We enjoyed an exceptional first half of the year. However, our outlook for the whole year remains unchanged, given the absence of major sporting events in the forthcoming months.”
The Amounts Staked in the sports segment reached EUR 325.3m in the first half of 2014, up by 21.2% compared to the same period of the previous year.
The Gross Win amounted to EUR 65.8m over the first six months of 2014, an increase of 14.7% compared to the same period of 2013. The Gross Win from online betting increased to EUR 32.3m in the first half of the year, growing by 32.5% compared to the same period of 2013, and surpassing the Gross Win from retail betting for the first time. The Gross Win from retail betting reached EUR 29.9m in the first half of the year, up by 1.8% compared to the same period of the previous year. Retail betting saw a moderate decrease in the Czech Republic, while it remained stable in Slovakia and grew year-on-year in Poland.
Fortuna Group’s EBITDA reached EUR 15.0m, up by 16.4% compared to the first half of 2013, thanks in part to positive results in the lottery segment. Of the stated value, sports betting EBITDA formed EUR 15m, representing a year-on-year increase of 13.8%. Lottery EBITDA was EUR 48,000, compared to a loss of EUR 0.3m in the same period of the previous year. The result is fully in accordance with the Company’s previously announced plan for 2014.
The Company’s net profit increased by 19% in the first half of the year, reaching EUR 9m, mainly thanks to a good operating result and despite increased interest costs related to refinancing undertaken last year.
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