betbull - The European Betting Exchange Plc.
Betbull plc ("Betbull") announces the release of group consolidated audited financial statements
London (euro adhoc) -
ots.CorporateNews übermittelt durch euro adhoc mit dem Ziel einer europaweiten Verbreitung. Für den Inhalt der Mitteilung ist das Unternehmen verantwortlich.
Finanzen/balance/annual report 2006
1. Financial highlights for the year
- Betbull has continued its growth during the year 2006, achieving a record gross income of EUR 89.4 m up by 4 times compared with the year 2005 - (2005 - EUR 20.1 m) and Net Gaming Revenue of EUR 15.0 m up by 3.75 times compared with the year 2005 (2005 - EUR 4.0 m). - EBITDA reached EUR (0.55) m - (2005 - EUR (5.2) m) and 0.08 m - (2005 - EUR (4.0 )m)before share benefit charge. - The Adjusted Operating Loss amounted to EUR (0.97) m - (2005 - EUR (4.2) m) before Share Benefit Charges of EUR 0.63 m - (2005 - EUR 1.2 m). - Betbull maintains a healthy Cash Position of EUR 8.0 m as of 31 December 2006 - (2005 - EUR 10.7 m).
Total cost and expenditures included various extraordinary items, in particular, for legal counsel and lobbying as well as the start up costs of the businesss in Spain and Italy.
2. Business highlights for the year
- Private placing raising EUR 4.2 m by issuing 1,050,000 new ordinary shares, 942,069 not accounted for in the balance sheet, (closed 28 February 2007 yielding a total of 7,621,431 shares issued overall) with the goals to fund further business development and to maintain flexibility. - Award of four licenses in Italy for the cities of Milan and Como in a tender process. - Joint Venture signed with Grupo Orenes, a leading Spanish leisure operator, with the goal to establish a retail betting chain in Spain. - Opening of the first retail betting units in Spain. - Completion of repositioning the company as a retail betting operator with complementary online offering. The portfolio of retail betting units was restructured to achieve an overall better performance on fewer outlets. - Major swing in continental Europe towards a liberalization of gaming, in particular, the new legislation in Italy and Spain (Madrid). The German monopoly is still heavily contested and must be newly regulated by the end of 2007 following a Constitutional Court Ruling in March 2006.
Commenting on todays announcement Simon Bold, Director of Betbull, said: "Considering the difficult regulatory circumstances under which Betbull operated in the year 2006 I am very pleased with the growth achieved. I am looking forward implementing business development objectives in Spain which will help grow Betbull to the next level." Günter Schmid, Director of Betbull, added: "We are still executing our strategy of growth in continental Europe via acquisitions, partnering and organic growth. Once the regulatory dust has settled down a bit we have the clear sight required to speed up again."
"This communication including the complete the Betbull Plc annual report and the consolidated financial statements for the year ended 31 December 2006 can be downloaded from the website www.betbullplc.com."
- ENDS -
About Betbull
Betbull's goal is to establish itself as one of the leading Continental European retail bookmakers. The Betbull group holds bookmaking licences in the UK, Austria, Italy, and Malta and horse betting licences in select districts of Germany and Spain.
The high caliber management team (Simon Bold, David De Marco, Alexander Leip, and Günter Schmid) has a strong track record in the betting industry with relevant bookmaking experience and know-how including sector specific M&A expertise.
Betbull has been listed on the Vienna Stock Exchange since October
2004 ("BETB", "BETB.VI").For further details please refer to the website www.betbullplc.com.
Rückfragehinweis:
Contact
David De Marco, Group Finance Director
d.demarco@betbull.com
Phone +356 21480131
Fax +356 21480132
Betbull plc
Tower 42, Level 23/Pillsbury
25 Old Broad Street
London EC2N 1HQ
United Kingdom
Betbull plc is registered in England & Wales under the Registration Number
05044730.
This communication can be downloaded from the website www.betbullplc.com.
Branche: Glücksspiele
ISIN: AT0000615331
WKN: A0DKM0
Börsen: Wiener Börse AG / Börse