Suche   Â
DGAP-News: Betbull release annual accounts 2011
ID: 608119
(firmenpresse) - DGAP-News: Betbull Holding SE / Key word(s): Final Results
Betbull release annual accounts 2011
30.03.2012 / 17:15
---------------------------------------------------------------------
Betbull Holding SE ('Betbull') announces the release of group consolidated
audited financial statements for the year ended 31st December 2011
1. Financial highlights for the year 2011
- Betting stakes of EUR 75.3m down 2.5% compared to EUR 77.2m last year.
- Net gaming revenue of EUR 13.7m down 6.2% compared to EUR 14.6m last
year.
- EBITDA of EUR (0.1)m down EUR 1.3m compared to EUR 1.2m last year.
- Adjusted EBITDA (before share benefit charges) of EUR 0.1m down EUR
1.4m compared to EUR 1.3m last year.
- Loss for the year of EUR (0.2)m down EUR 1.1m compared to profit of EUR
0.9m last year.
- Cash position as at 31 December 2011 of EUR 8.5m compared to EUR 8.8m
as at 31 December 2010.
The audited financial statements and the annual report for the year ended
31st December 2011 will be published on the corporate website
www.betbullse.com.
2. Business highlights in 2011
Betbull's business performance in 2011 was still affected by administrative
actions taken against Betbull's betting outlets in the Federal States of
Lower Saxony and Rhineland-Palatinate. Compared to the figures of 2010 the
shop closures in the above mentioned Federal States caused the decline of
stakes and profit. However the performance of the betting shops and betting
halls is stable and promising even though competition is increasing
steadily.
With effect of 1 January 2012 the new Gaming Act in Schleswig-Holstein is
in force. Betbull will file its licence applications under the new Gaming
Act in due course and expects a positive response.
The Prime Ministers of the other 15 Federal States signed a new State
Treaty on Gaming ('Glückspieländerungsstaatsvertrag') in December 2011; the
new State Treaty on Gaming is expected to come into force by 1 July 2012.
According to the Glückspieländerungsstaatsvertrag up to 20 sports betting
licences (retail and online) will be issued. Sports betting turnovers will
be levied with 5%.
Commenting on today's press release Alexander Leip, Managing Director of
Betbull Holding SE, said:
'We really appreciate the approach of Schleswig-Holstein to establish a
liberalized gaming market which is consistent with Federal and European
law. We hope that the regulation of the gaming market in the other Federal
States under the given terms will be executed in due course and a fair
manner. We believe that Betbull is prepared to expand its retail betting
business in a fully regulated market fast and significantly - through
organic growth, acquisitions and strategic partnerships.
Betbull is in the process of filing the necessary betting licences under
the new Gaming Act in Schleswig-Holstein and prepares itself to apply for a
betting licence under the new State Treaty on Gaming.'
Betbull Holding SE
Consolidated income statement for the year ended 31 December 2011
__________________________________________________________________________
Continuing operations 2011 2010- ENDS -
EUR EUR
Net gaming revenue 13,651,486 14,581,779
Operating expenses (2,993,116) (2,545,809)____________________
Gross profit 10,658,370 12,035,970
Personnel expenses (5,846,564) (5,593,936)
Depreciation, amortisation and impairment (455,974) (570,601)
Other operating income 49,148 94,766
Administrative expenses (4,949,725) (5,368,143)
____________________
Operating (loss)/profit (544,745) 598,056
Financial income 52,387 10,557
Financial expenses (711) (67,789)
____________________
(Loss)/profit before tax (493,069) 540,824
Taxation 260,959 (685,261)
____________________
Continuing Operations (continued)
Loss after tax for the year from
continuing operations (232,110) (144,437)
____________________
Discontinued operations
Profit for the year from discontinued - 1,034,844
operations
(Loss)/profit for the year (232,110) 890,407
____________________
Attributable to
- Equity holders of the parent (232,110) 890,407
(Loss)/profit per share
Basic EUR(0.02) EUR0.08
Diluted EUR(0.02) EUR0.08
Betbull Holding SE
Consolidated balance sheet at 31 December 2011
__________________________________________________________________________
Assets 2011 2010
EUR EUR
Non-current assets
Property, plant and equipment 1,214,035 723,161
Goodwill 15,661,054 15,495,381
Investments 23,400 23,400
Deferred tax assets 180,154 70,614
___________________
17,078,643 16,312,556
__________________
Current assets
Inventories 312,859 349,156
Trade and other receivables 1,763,894 1,788,173
Cash and cash equivalents 8,456,325 8,828,671
__________________
10,533,078 10,966,000
__________________
Total 27,611,721 27,278,556
__________________
Equity attributable to equity holders
of the company
Share capital 11,714,624 11,714,624
Retained earnings 5,009,547 (13,095,008)
Share benefit reserve 870,234 747,160
Cumulative translation reserve 210,821 210,821
Capital reserves 7,056,732 25,393,397
__________________
24,861,958 24,970,994
__________________
Current liabilities
Trade and other payables 2,084,733 1,835,351
Corporation tax payable 665,030 472,211
__________________
2,749,763 2,307,562
__________________
Total 27,611,721 27,278,556
__________________
Betbull Holding SE
Consolidated cash flow statement for year ended 31 December 2011
2011 2010
EUR EUR
Cash flows from operating activities
(Loss)/profit before tax from continuing operations (493,069)540,824
Profit before tax from discontinued operations - 1,034,844
___________________
(493,069) 1,575,668
Adjustments for:
Depreciation and amortisation 455,974 570,601
Interest received (52,387) (10,557)
Interest paid 711 67,789
Income tax received/(paid) 344,047 (606,523)
Share benefit expenses 123,074 108,919
Loss on sale of fixed assets 8,946 -
Adjustment for subsidiary sold - (2,707,859)
__________________
387,296 (1,001,962)
Movements in trade and other receivables 24,279 1,113,912
Movements in trade and other payables 249,572 534,649
Movements in inventories 36,297 (54,136)
__________________
310,148 1,594,425
__________________
Net cash used in operating activities 697,444 592,463
Cash flows from investing activities
Purchase of property, plant and equipment (958,091) (445,420)
Acquisitions (165,673) (251,836)
Interest received 52,387 10,557
Proceeds of sale of fixed assets 2,298 -
Earn out payments - (525,000)
Proceeds of sale of subsidiary - 3,831,760
__________________
Net Cash used in investing activities (1,069,079) 2,620,061
Cash flows from financing activities
Issue of ordinary shares - 900,000
Interest paid (711) (67,789)
__________________
Net cash generated from financing activities (711) 832,211
__________________
Net movement in cash and cash equivalents (372,346) 4,044,735
__________________
Cash and cash equivalents at
the beginning of the year 8,828,671 4,783,936
__________________
Cash and cash equivalents at
the end of the year 8,456,325 8,828,671
__________________
Contact
David De Marco.
d.demarco(at)betbull.com
Phone +356 21494443
Fax +356 21480132
Betbull Holding SE
Mariahilfer Straße 116
1070 Vienna
Austria
Betbull Holding SE is registered at the Commercial Court of Vienna under
the Company register Number FN 353397b (formerly registered in England&Wales under the Registration Number SE12).
This communication can be downloaded from the website www.betbullse.com.
About Betbull:
Betbull is an established provider of gaming centred retail entertainment,
based in Vienna, Austria. Betbull offers its customers principally horse
and sport betting at licensed betting shops, complemented by slot machines,
internet betting and sport bars. Betbull accepts bets based on licences in
Malta and Germany. In Germany, Betbull products are available above all
under the 'Wettenleip' brand. Betbull itself has been quoted on the Third
Market of the Vienna Stock Exchange ('Other Securities') since October 2004
(ISIN AT0000A0KPX9, formerly AT0000615331) and was established as a joint
venture between Fun Technologies Plc and bwin Interactive Entertainment AG.
For detailed information on Betbull, visit www.betbullse.com.
End of Corporate News
---------------------------------------------------------------------
30.03.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive atwww.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Betbull Holding SE
Mariahilfer Straße 116
1070 Wien
Austria
Phone: +356 21480131
Fax: +356 21480132
E-mail: info(at)betbull.com
Internet: www.betbullse.com
ISIN: AT0000A0KPX9
WKN: A1C86G
Listed: Freiverkehr in Berlin, Stuttgart; Wien (Dritter Markt
(MTF) / Third Market (MTF))
End of News DGAP News-Service
---------------------------------------------------------------------
163353 30.03.2012
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
  
  
  
Datum: 30.03.2012 - 17:15 Uhr
Sprache: Deutsch
News-ID 608119
Anzahl Zeichen: 14589
Kontakt-Informationen:
Kategorie:
Wirtschaft (allg.)
Diese Pressemitteilung wurde bisher 0 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Betbull release annual accounts 2011"
steht unter der journalistisch-redaktionellen Verantwortung von
Betbull Holding SE (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).