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18 Nov 2010 09:04
Announcement by bwin Interactive Entertainment AG ("bwin")
Below is the text of an announcement issued today by bwin.
Results for the third quarter and the first nine months 2010
Key financial indicators (pro forma consolidated, unaudited)
EUR million | Q3 10 | Q3 09 | % YoY | Q1-Q3 10 | Q1-Q3 09 | % YoY |
Gross gaming revenues | 123.3 | 101.0 | 22.1% | 383.7 | 313.7 | 22.3% |
Net gaming revenues | 95.3 | 83.3 | 14.3% | 304.9 | 263.2 | 15.8% |
Total revenues | 108.7 | 92.3 | 17.7% | 342.1 | 308.4 | 10.9% |
EBITDA (adjusted*) | 9.8 | 16.8 | -41.7% | 51.1 | 67.9 | -24.7% |
EBIT | -6.2 | 8.2 | n.a | 9.0 | 30.1 | -70.1% |
Result after tax | -6.0 | 7.9 | n.a | 8.7 | 26.9 | -67.7% |
Highlights of business development in Q3 2010
·; Growth of gross gaming revenues attributable to sound development of sports betting, poker and games
·; Continuing increase in sports betting margin and customer volume
·; Number of active poker customers up by 70% in France following regulation
·; EBITDA impacted by one-off expenses associated with the market entry in France and preparations to take advantage of forthcoming regulation in number of jurisdictions
·; Planned merger will create competitive advantage due to synergies and scale in a multi-jurisdictional regulated market environment
Q3 2010 (pro forma consolidated)
·; Gross gaming revenues up 22.1% to EUR 123.3 million (Q3 2009: EUR 101.0 million)
·; Sports betting margin 7.9% (Q3 2009: 7.1%)
·; Net gaming revenues up 14.3% to EUR 95.3 million (Q3 2009: EUR 83.3 million)
·; Active customers: 1,208,000 active and 299,000 new active real-money customers (plus 14.1% and plus 15.6% respectively)
·; EBITDA (adjusted*) of EUR 9.8 million (Q3 2009: EUR 16.8 million)
·; Result after tax of EUR -6.0 million (Q3 2009: EUR 7.9 million)
First nine months of 2010 (pro forma consolidated)
·; Growth in all product segments
·; Gross gaming revenues of EUR 383.7 million (Q1-Q3 2009: EUR 313.7 million)
·; Net gaming revenues of EUR 304.9 million (Q1-Q3 2009: EUR 263.2 million)
·; Active customers: 2,263,000 active and 978,000 new active real-money customers (plus 17.7% and plus 21.6% respectively)
·; EBITDA (adjusted*) of EUR 51.1 million (Q1-Q3 2009: EUR 67.9 million)
·; Result after tax of EUR 8.7million (Q1-Q3 2009: EUR 26.9 million)
* Excluding non-cash expenses in connection with share-based payment (IFRS 2) and one-off effects in connection with proposed merger.
The complete report for the third quarter and the first nine month 2010 can be found online on the bwin investor relations website at www.bwin.org, where it can also be downloaded in pdf format.
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