Fortuna Entertainment Group accepted bets of EUR 797.0 million up 163.7% in the first quarter of 2018
Fortuna Entertainment Group N.V., the leading Central Eastern European regulated fixed-odds betting and gaming operator, has announced its unaudited consolidated results for the first quarter of 2018.
· Total Amounts Staked in Q1 2018 increased by 163.7% to EUR 797.0 million
· Total Gross Win in Q1 2018 increased by 157.6% to EUR 110.0 million
· Total EBITDA in Q1 2018 amounted to EUR 22.7 million up 665.5% yoy
· Net profit in Q1 2018 increased by 923.6% to EUR 14.0 million
„The strong reported financial results for the first quarter of 2018 reflect our growth strategy with investments into operational excellence, new platforms and regional expansion. Thanks to that, we recorded a substantial growth in all reported key indicators, this driven both by strong organic growth as well as M&A. Our Amounts Staked increased by 163.7% yoy to EUR 797.0 million, Gross Win amounted to EUR 110.0 million and EBITDA reached EUR 22.7 million a yoy increase of 157.6% and 665.5% respectively. If we adjust for one-off costs related to Integration, the EBITDA increased 723.9% yoy. We also would like to confirm our guidance for the rest of 2018.” said Per Widerström, CEO and Chairman of the Management Board of Fortuna Entertainment Group.
FEG, the leading Central Eastern European regulated fixed-odds sports betting and gaming operator present in the markets of Poland, the Czech Republic, Slovakia, Romania and Croatia recorded in Q1 2018 total Amounts Staked figure of EUR 797.0 million, 163.7%more than in Q1 2017. This increase was driven primarily by organic growth in online, particularly in fixed-odds betting in all original countries, and by online gaming in the Czech Republic. The year-on-year growth was also driven by the new acquisitions of Hattrick Sports Group (“Hattrick”) and Fortbet Romanian entities (“Fortuna Romania”) which were acquired after the first quarter of 2017.
In Q1 2018, total Gross Win reached EUR 110.0 million, an increase of 157.6% compared with Q1 2017. The Gross Win increase was driven by Amounts Staked growth as well as by the continuous strong performance of underlying key indicators.
Total consolidated EBITDA recorded in Q1 2018 was EUR 22.7 million, up 665.5% yoy, resulting from higher betting volumes, online gaming addition and consolidation of Hattrick Sports Group and Fortuna Romania. Total EBITDA in the first quarter of 2018, if adjusted by one-offs related to integration, was EUR 22.8 million, up 723.9% yoy.
Total Net profit of the Company for the first quarter of 2018 amounted to EUR 14.0 million, an increase of 923.6% yoy, driven primarily by higher EBITDA. Total Net profit of the Company in the first quarter of 2018, if adjusted by one-offs related to M&A and integration costs, was EUR 14.2 million, up 1,113.4% yoy.
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