Pferdewetten.de AG

Latest Results (23.05.2024):

Revenue Growth

In the first quarter of 2024, Pferdewetten.de AG reported a significant increase in revenue, nearly doubling from €4.9 million in Q1 2023 to €9.7 million. This substantial growth is attributed to the expansion and strong performance of the retail sports betting segment.

Net Loss Increase

Despite the rise in revenue, Pferdewetten.de AG experienced an increase in net loss, which deepened from €1.7 million in Q1 2023 to €3.4 million in Q1 2024. The loss per share worsened from -€0.3 to -€1.30, reflecting the costs associated with expansion and increased marketing efforts.

EBITDA Performance

The company's EBITDA for Q1 2024 was reported at -€2.2 million, which did not meet expectations and showed a deterioration from -€1.0 million in the same quarter of the previous year. This reflects the ongoing investment in new shop openings and the scaling of operations.

Operational Highlights

Pferdewetten.de AG continued its aggressive expansion strategy in the retail sports betting market, with the opening of new franchise shops and the acquisition of a 35% stake in a company owning 17 sports betting shops. This move is part of a strategic plan to enhance the company's footprint and operational efficiency in the sports betting segment.

Market and Regulatory Environment

The first quarter of 2024 saw no significant changes in the regulatory landscape for Pferdewetten.de AG. The company maintained a strong market presence and competitive edge despite high competition and regulatory challenges in the German sports betting market. The firm remains compliant with stringent player protection and anti-money laundering regulations, ensuring high standards of operation.