Preliminary Unaudited Financial Results for 2014
Amsterdam - Fortuna Entertainment Group N.V. announces its preliminary unaudited consolidated financial results for the fiscal year to 31 December 2014, prepared according to International Financial Reporting Standards (IFRS).
· Total Amounts Staked in 2014 increased by 18.5 % to EUR 672.4 million
· On-line Sports Betting Gross Win in 2014 increased by 31.2% to EUR 67 million
· Total EBITDA adjusted by one-off gains increased by 13.6% to EUR 27.8 million
„I am delighted to have got the opportunity to join Fortuna and to lead the Fortuna organisation in these exciting times. The achieved results in 2014, particularly the growth of on-line business and robust profitability confirm that Fortuna is well positioned to become the undisputable leader in the regulated Central European sports betting & gaming sector with the most trusted and exciting multi-channel betting & gaming brand,” said Per Widerstrom, CEO and Chairman of the Management Board of Fortuna Entertainment Group.
Fortuna, the leading Central European fixed-odds betting operator present in the markets of Poland, the Czech Republic and Slovakia, recorded in 2014 a total Amounts Staked figure of EUR 672.4 million, 18.5% more than in 2013, according to the preliminary unaudited financial results. The Amount Staked from sports betting reached EUR 655.7 million, 19% more than in 2013. The Amounts Staked performance was primarily driven by on-line segment growth and opportunities to bet on major sporting events last year, such as the Winter Olympics and FIFA World Cup in Brazil. Amounts Staked from lottery bets in 2014 totalled to EUR 16.7 million, 4.1% increase yoy. The Company exceeded its guidance from March 2014 which anticipated full year Amounts Staked of EUR 645 million.
In 2014, total Gross Win reached EUR 132.6 million, an increase of 13.9% compared with 2013. Gross Win from sports betting equalled EUR 125.1 million, a 14.9% increase yoy. Of which, Gross Win from on-line betting in 2014 increased to EUR 67 million, a substantial gain of 31.2% over 2013. On-line betting expansion was supported by a further development of “live betting” and live streaming supported by the Bwin feed project.
Gross Win from retail betting in 2014 amounted to EUR 58 million, a 0.5% increase from the previous year. Gross Win from lottery was EUR 7.5 million.
Total consolidated EBITDA recorded in 2014 was EUR 28.4 million, up 6.4% yoy. If adjusted by one-off impact from VAT claim in Poland which had impact on both 2013 and 2014 EBITDA, the adjusted EBITDA is EUR 27.8 million, up 13.6% yoy. EBITDA from sports betting reached EUR 28.0 million, 2.6% more than previous year. EBITDA from lottery was EUR 0.4 million (positive) and improved 155.5% to last year result.
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