Betbull Holding SE
Betbull Holding SE (‘Betbull’) announces the release of group consolidated unaudited financial statements for the quarter ended 31st March 2013

Betbull Holding SE / Key word(s): Quarter Results

17.06.2013 / 15:00

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Betbull Holding SE ('Betbull') announces the release of group consolidated
unaudited financial statements for the quarter ended 31st March 2013

 1. Financial highlights for the quarter

  - Betting stakes of EUR 14.6m for the quarter down 25.1% compared to EUR
    19.5m in QI 2012.

  - Net gaming revenue of EUR 3.3m for the quarter down 5.7% compared to
    3.5m in QI 2012.

  - EBITDA of EUR 0.2m for the quarter down minimally compared to EUR 0.2m
    in QI 2012.

  - Adjusted EBITDA (before share benefit charges) of EUR 0.2m for the
    quarter down EUR 0.1m compared to EUR 0.3m in QI 2012.

  - Loss for the quarter of EUR 0.2m down EUR 0.3m compared to profit of
    EUR 0.1m in QI 2012.

  - Cash position as at 31 March 2013 of EUR 6.1m compared to EUR 6.7m as
    at 31 December 2012.

The unaudited financial statements for the quarter ended 31st March 2013
will be published on the corporate website www.betbull.com.

  -  Business highlights for the quarter

Betbull's business performance in quarter 1 was impacted mainly by the
following facts: (i) the new German sports betting tax of 5% on stakes
introduced 1 July 2012, (ii) a comparatively high hold margin and (iii) a
reduced number of active betting outlets due to the on-going
re-organisation of the shop portfolio.

The performance of Betbull's gaming halls and slot machines in the betting
outlets slightly improved.

Commenting on today's press release Alexander Leip, Managing Director of
Betbull Holding SE, said:

'Our modest business performance in quarter 1 is a result of the
consolidation process of the Betbull group initiated in 2012 to streamline
the business in preparation of the upcoming market regulation in Germany
and in support of the ongoing sports betting license process.
We have filed our application papers for the tender process in January 2013
and are optimistic to obtain one of the sports betting licenses. Even
though our initial goal to expand our retail betting business latest in
summer 2013 could not be met due to the regulatory process taking longer
than expected, we are positive that sports betting licenses in Germany will
finally be granted in quarter 3 and Betbull will obtain one of these
licenses and our expansion plan will go into full effect', concludes
Alexander Leip.

                              Betbull Holding SE
                           Consolidated income statement
                        for the quarter ended 31 March 2013
____________________________________________________________________

                               2013                           2012
                          (3 months)                     (3 months)
                                EUR                            EUR


Betting Stakes           14,612,090                     19,496,193
Customer winnings       (11,138,584)                   (15,589,978)
                        ____________                   ____________
 


Gross hold                3,473,506                      3,906,215
Other gaming income         585,963                        520,639
Commissions to third       (722,422)                      (957,748)
Party agents and bonuses 
                        ____________                    ____________

Net gaming Revenue        3,337,047                      3,469,106
Other operating income       14,647                         33,263
                        ____________                    _____________


Total income              3,351,694                      3,502,369
Direct costs               (567,767)                      (750,123)
and betting taxes
                        ____________                    _____________
 

Gross profit              2,783,927                      2,752,246
Personnel costs          (1,298,188)                     (1,358,706)
Cost of premises           (813,300)                       (776,099)
Mobility and               (128,681)                       (107,206)
Distribution costs
Other operating costs      (357,121)                       (253,731)
                        ____________                     ___________
 

EBITDA before share         186,637                        256,504
benefit charge
Share benefit Charge        (12,500)                       (30,768)
                        ____________                    ____________


EBITDA                      174,137                        225,736
Depreciation               (139,707)                       (92,040)
& amortisations
                        ___________                      ____________


EBIT                         34,430                        133,696
Financial result              1,218                         13,262


Profit before tax            35,648                        146,958
Taxation                   (203,725)                       (26,372)
                        ____________                     ____________
   
(Loss)/profit for          (168,077)                      (120,586)   
the quarter             
                       _____________                     ____________ 
  


                      

                         Betbull Holding SE
                     Consolidated balance sheet
                          at 31 March 2013
____________________________________________________________________

                                    2013                    2012
                               (3 months)              (3 months)
                                     EUR                     EUR


Goodwill and investments       10,177,493              15,684,454
Fixed Assets                    2,307,005               1,212,616
Non-current assets                 95,099                 180,154
Current assets                  1,092,235               2,322,274
Cash and cash equivalents       6,113,172               7,682,361
                             ____________             ____________

Total assets                   19,785,004              27,081,859
                             ____________             ____________


Equity                         11,714,624              11.714.624
Profits/(losses)               (2,056,324)              5,130,131
Reserves                        8,196,100               8,168,552
Current liabilities             1,930,604               2,068,552
                              ____________             ____________

Total equity and               19,785,004              27,081,859
liabilities
                              ____________             ____________


  

- ENDS -     

Contact

David De Marco

d.demarco@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.betbull.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

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Language:    English                                                
Company:     Betbull Holding SE                                     
             Mariahilfer Straße 116                                 
             1070 Wien                                              
             Austria                                                
Phone:       +356 21480131                                          
Fax:         +356 21480132                                          
E-mail:      info@betbull.com                                       
Internet:    www.betbullse.com                                      
ISIN:        AT0000A0KPX9                                           
WKN:         A1C86G                                                 
Listed:      Freiverkehr in Berlin, Stuttgart; Wien (Dritter Markt  
             (MTF) / Third Market (MTF))                            
 
 
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