DACH market betting group bet-at-home AG has delivered on its revised 2020 corporate forecasts in its full-year 2020 trading results.
Citing significant Covid interruptions on the H1 European sports calendar, bet-at-home reported an 11% year-on-year decline on group revenues to €127 million (FY2019: €143m).
But improved trading registered during the summer period saw the firm revise its 2020 corporate guidance, with the Frankfurt-listed company improving its expected full-year EBITDA outcome to the +€30 million range.
The bookmaker hit its revised target, recording a full-year EBITDA of €31 million – yet its final result would be 11% down on comparative FY2019 earnings of €35 million.
The better than expected EBITDA outcome was secured with bet-at-home saving a reported €10 million in marketing expenses during the H2 period as a result of the cancellation of the summer’s UEFA Euro Championships.
Having secured a positive 2020 outcome, the company has proposed a shareholder dividend of €2.50 per share, which will be sanctioned at its AGM on 18 May 2021 – with the firm planning to pay-out €17.5 million to its shareholders.
Closing its trading statement, bet-at-home presented its management outlook for 2021 in which the operator targets group revenues to be between €106-118 million.
Meanwhile, highlighting inbound German market regulatory adjustments on sports betting and online casino, bet-at-home management has reduced its group EBITDA forecasts to €18-20 million range.