Fortuna posted 1Q2013 results: EBITDA up by 34.4%

Fortuna Entertainment Group, the leading Central European fixed-odds betting operator, has announced its unaudited consolidated results for the first quarter of 2013. The reported financial results confirmed a robust performance, which was a continuation of what was seen in the previous reporting period, as well as outstanding top line figures for all key parameters.

The unaudited consolidated results of Fortuna Entertainment Group for the first quarter of 2013 confirmed growth in the main markets where the Company operates.

- Total Amounts Staked in Q1 2013 increased by 24.0% to EUR 141.2 million
- Total Gross Win in Q1 2013 up by 9.0% to EUR 33.5 million
- On-line Sports Betting Gross Win in Q1 2013 increased by 33.8% to EUR 13.6 million
- Total EBITDA in Q1 2013 grew by 34.4% to EUR 11.3 million

The Group’s Amounts Staked for the first quarter of 2013 was EUR 141.2 million, a strong 24.0% yoy increase. This growth was driven primarily by the expansion of on-line betting in all the countries where Fortuna operates. The Amount Staked on sports betting reached EUR 137.1 million in the first quarter of 2013, a 26.2% improvement on the first quarter of 2012. The Amount Staked on lottery betting in the first quarter of 2013 totalled EUR 4.2 million, a 20.6% yoy decline.

In the first quarter of 2013, the total Gross Win reached EUR 33.5 million, an increase of 9.0% compared to the first quarter of 2012.

The Gross Win from sports betting was EUR 31.4 million, an 11.7% increase yoy. Of this figure, the Gross Win from on-line betting in the first quarter of 2013 increased to EUR 13.6 million, a substantial gain of 33.8% over the same period of 2012. The Gross Win from retail betting in the first quarter of 2013 amounted to EUR 17.8 million, a 0.8% decline yoy.
In the first quarter of 2013, the Gross Win from the lottery business was EUR 2.1 million, a 19.7% decline over the same period of last year.

Source: Fortuna