Updating the market on its H1 2016 interim results, German sports betting operator Interwetten detailed that a strong Euro 2016 performance had seen the company record corporate revenues of €32.8 million up 29% on corresponding H1 2015 €25.5 million.
Driven by increased user activity during the period combined with high engagement on its mobile product, which generated 63% of all sports betting revenues Interwetten would record Q2 revenues of €16.9 million.
Closing its H1 2016 performance, Interwetten governance expects to post a corporate EBITDA of €6.7 million with adjusted net profits of €5.7 million.
Detailing performance drivers, Interwetten declared that revenues During Euro 2016 had ‘ticked up 35% compared to the 2014 World Cup’. The bookmaker was surprised by the increased activity since Euro 2016 would feature 13 less games.
Werner Becher, Spokesman for the Interwetten Board of Directors commented on the interim results
“I’m very happy and proud that our strategy of sustainable growth works so well. Having increased our marketing spend before and during Euro2016, we managed to increase our profits at the same time. For anyone managing a company, there is no better proof of strategic success in terms of team and product performance.”