Bet-at-home.com AG Reports Financial Results for First Three Quarters of 2024

Bet-at-home.com AG has released its financial figures for the first three quarters of 2024. The group achieved an 8.9% increase in gross betting and gaming revenue, totaling EUR 37,624 thousand, up from EUR 34,537 thousand in 2023. This growth was driven by successful online sports betting and gaming, notably boosted by the European Football Championship and the Summer Olympics.

Personnel expenses decreased by 4.8% to EUR 6,304 thousand, while advertising costs rose by 18% to EUR 13,822 thousand, focusing primarily on promoting the brand in Germany and Austria. Meanwhile, other operating expenses soared by 56.6%, largely due to a significant Swiss VAT provision and claims for gambling loss reimbursements.

The net result showed a deficit of EUR -3,252 thousand, a decline from the previous year's EUR -231 thousand. Despite these challenges, EBITDA before special items improved to EUR 2,837 thousand, surpassing 2023's figure. Looking ahead, the company projects gross revenue to hit between EUR 45 and 53 million, with a revised EBITDA forecast ranging from EUR 1.5 to 4.5 million.