Betbull Holding SE
betbull Holding SE, formerly betbull plc, (‘betbull’) announces the release of group consolidated audited financial statements for the year 2009

Betbull Holding SE / Final Results

01.04.2010 08:30

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betbull Holding SE, formerly betbull plc, ('betbull') announces the
release of group consolidated audited financial statements for the
year 2009.

1. Financial highlights for the year 2009

- Betting stakes of EUR 83.7m down 16.6% compared to EUR 100.4m last year.
- Net gaming revenue of EUR 13.1m down 18.6% compared to EUR 16.1m last
year.
- Adjusted EBITDA (before goodwill impairment and share benefit charges) of
EUR (2.9)m down EUR 2.3m compared to EUR (0.6)m last year. Adjusted EBITDA
before Spanish result of EUR (0.6)m down EUR 2.2m compared to EUR 1.6m last
year.
- Loss of EUR (6.7)m up EUR 2.4m compared to EUR (4.3)m last year.
Extraordinary losses of EUR 3.1m (2007 - EUR 2.1m) include goodwill
impairment and share benefit charges.
- Cash position as at 31 December 2009 of EUR 4.8m compared to EUR 8.2m as
at 31 December 2008. Cash position as at 31 December 2009 excluding the
Spanish operations of EUR 4.6m compared to EUR 7.5m as at 31 December 2008.

2. Business highlights for the year
Betbull has eliminated the companies and licences associated with exchange
betting activities also other minor retail projects, leaving only retail
operations in Germany and Spain - plus a limited online offer to support
retail operations.

Germany
Turnover EUR 83.7m for the period was down by over 16.6% compared to 2008
turnover of EUR 100.4m. This was partly due to the effect of the European
Championships on 2008 turnover. But it also reflects the difficult trading
conditions in Germany. The weak trading period in QII, which was caused by
an accumulation of adverse soccer results, could not be compensated by the
stronger periods in QIII and QIV. Overall the still difficult regulatory
and trading situation of the German business resulted in an impairment
charge of EUR (3.0) m.

Spain
Betbull Bwin Espana S.A. finished the year trading from 6 premises, 4 own
shops which include mini casino and 2 agency units. Performance of own
shops is very encouraging and whilst in a ramp up phase the units are ahead
of budget. Betbull Bwin Espana is 100% owned by Betbull Holding SE since 23
October 2009. The Spanish business contributed EUR (2.9)m to overall
losses, which was in line with mangement's expectations for the year 2009.

Corporate Setup

During December, the administrative organ of betbull Holding SE appointed
Simon Bold and Alexander Leip as Managing Directors, implementing the first
step in forming the Executive Board.
Gunter Schmid resigned as an Executive Director and has taken up a
non-executive position on the administrative organ.
Relocation to Vienna is currently scheduled to take place at the end
of April.

Commenting on today's press release, Simon Bold, Director of betbull
Holding SE said:
'This has been a year of reorganisation, with a focus now clearly on
Germany and Spain. betbull could further reduce costs and streamline
operations.
German operations have performed well in difficult legislative conditions,
continuing to support the significant development funding required in
Madrid.
The investment in Madrid provides the Group with a fully licensed retail
environment which has readily accepted betting.'

Contact
David De Marco, Group Finance Director

d.demarco@betbull.com
Phone +356 21494443
Fax +356 21480132

betbull Holding SE
15 Fetter Lane,
London EC4A 1JP
United Kingdom

Betbull Holding SE (formerly betbull plc) is registered in England & Wales
under the Registration Number SE12 (formerly 05044730).

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 London. betbull offers its customers principally horse and sports
betting at licensed betting shops, complemented by slot machines, internet
betting and sports bars. betbull accepts bets based on licences in England
and Wales, Malta and Germany, and is also licensed in Madrid, Spain. In
Germany, betbull products are available above all under the 'Wettenleip'
brand. In Madrid, Spain, the launch of the retail brand 'w1nners' is to be
piloted following the granting of a licence. betbull itself has been quoted
on the Third Market of the Vienna Stock Exchange since October 2004 (ISIN
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.


01.04.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Betbull Holding SE
              15 Fetter Lane
              EC4A 1JP London
              Großbritannien
Phone:        +356 21480131
Fax:          +356 21480132
E-mail:       info@betbull.com
Internet:     www.betbullplc.com
ISIN:         AT0000615331
WKN:          A0DKM0
Listed:       Freiverkehr in Berlin, Stuttgart; Open Market in Frankfurt;
              Foreign Exchange(s) Wien
 
End of News                                     DGAP News-Service
 
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