Malmö, Sweden, 2013-10-25 14:55 CEST (GLOBE NEWSWIRE) --
July - September 2013
- Betting turnover: 132,779 KEUR (159,829) - Net turnover after trading fees: -173 KEUR (802) - Gross margin: -0.13% (0.50)1 - Operating income: -1,105 KEUR (-34) - Operating margin: n/a (-4)2 - Net Income: -1,124 KEUR (-2) - Earnings per share: -0.12 EUR (0.00)
January - September 2013
- Betting turnover: 415,430 KEUR (505,597) - Net turnover after trading fees: 603 KEUR (1,923) - Gross margin: 0.15% (0.38)1 - Operating income: -1,916 KEUR (-607) - Operating margin: -318% (-32)2 - Net Income: -2,071 KEUR (-580) - Earnings per share: -0.22 EUR (-0.06)
Significant events after the period
- A conditional agreement was signed 21 October for the acquisition of Tain AB. The transaction must be approved by the Extraordinary General Meeting 25 November 2013.
Comments from the CEO
"I can confirm that the third quarter with a loss of 1,124 KEUR, mainly due to poor margins in trading, is one of the company's worst quarter from a historical perspective. This is a powerful signal that Betting Promotion must take quick action to return to profitability that is in line with expectations.
For this reason, which can’t be overstated, it is important to find an operational structure that can help to achieve this. Therefore, I note with satisfaction that the acquisition of Tain AB goes according to plan.” says Betting Promotion’s CEO Jonas Ornstein.
1 Net Turnover after trading fees as percent of Betting Turnover
2 Operating Income as percent of Net Turnover after trading fees
(For complete interim report see attached file)
For further information, please contact:
Jonas Ornstein, CEO Betting Promotion Sweden AB.
Tel +46 40 611 84 94
Certified Adviser:
The Company´s Certified Advisor is Mangold Fondkommission AB, which can be contact via www.mangold.se or by phone +46 8 503 015 50.
Betting Promotion Sweden AB (publ) is the holding company for operating subsidiaries. Betting Promotion puts the odds and acts as market maker on sporting events. Games are handled both before the match and during the match, so called live betting. Since 2003, Betting Promotion has been a market maker at the world’s leading betting exchanges. The trade is done automatically and is thus meant to be both effective and stable. Betting Promotion also offers odds to bookmakers.
