NuWays AG Issues 'BUY' Recommendation for Bet-at-home.com AG

In its latest research update, NuWays AG rated bet-at-home.com AG as a "BUY," maintaining a price target of EUR 5.50 for the next 12 months. The decision follows the company's solid financial performance in FY24, which exceeded expectations both on sales and EBITDA, before accounting for special items.

Bet-at-home.com AG reported sales of €52.3 million, a 13.3% increase year-over-year, driven primarily by growth in the gaming segment. However, one-off expenses led to a negative EBITDA of €-3.3 million. Despite these challenges, the company expects further growth in FY25, predicting sales to reach €55.7 million and a positive EBITDA of €2.5 million.

Anticipation also surrounds an upcoming European Court of Justice decision on customer claims, which could significantly impact the company's financial landscape if ruled in favor of betting providers.