bet-at-home (ACX) Q3 2024 earnings summary

Executive summary

• Outsourcing of key functions and platform redesign completed, shifting focus to customer management and targeted marketing in core markets Germany and Austria.

• Marketing expenses rose 18.0% year-over-year to EUR 13.8 million to support brand and customer acquisition ahead of major sporting events.

• Gross betting and gaming revenue increased 8.9% year-over-year to EUR 37.6 million, driven by both sports betting (+5.1%) and gaming (+56.4%).

Financial highlights

• Net betting and gaming revenue for the first nine months reached EUR 29.6 million, up from EUR 27.0 million year-over-year.

• EBITDA before special items rose 18.6% to EUR 2.8 million compared to the same period last year.

• Consolidated profit for the period was EUR -3.3 million, down from EUR -0.2 million year-over-year.

• Cash and cash equivalents stood at EUR 34.2 million as of 30 September 2024.

• Equity ratio decreased to 43.6% from 48.3% at year-end 2023.

Outlook and guidance

• Gross betting and gaming revenue for FY 2024 expected between EUR 45 million and EUR 53 million.

• EBITDA before special items guidance raised to EUR 1.5 million to EUR 4.5 million.