bet-at-home publishes full-year 2020 results and presents 2021 outlook

bet-at-home publishes full-year 2020 results and presents 2021 outlook

Posted by: AffPapa

bet-at-home AG, the DACH market betting group, has published its 2020 full-year results. It has seemingly been correct in its revised 2020 corporate predictions.

The company reported an 11% decrease in group revenues, going from €143 million in 2019 to €127 million in 2020. bet-at-home did mention that this was surely caused by the effects of the COVID-19 pandemic.

However, it still was able to improve trading in the summer as it increased its full-year EBITDA by about + €30 million. This made the company take a second look at its corporate guidance for the year. It ended up reaching its goal of recording a full-year EBITDA worth €31 million, however this was still a decrease from 2019’s earnings valued at €35 million.

The surpassing of the company EBITDA goal was largely caused by the firm stockpiling about €10 million in marketing expenses since the UEFA Euro Championships had to be put on hold for the summer.

In the statement’s final words, the company put forth its 2021 perspective concerning management, and is now hoping to achieve €106-118 million in group revenues. bet-at-home has also decreased its EBITDA target to about €18-20 million.

bet-at-home was able to end 2020 on a positive note, and is now suggesting a €2.50-per-share dividend for shareholders, starting from the 18th of May of this year, as the company now looks to paying approximately €17.5 million to the shareholders.

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