Valuation Update With 7 Day Price Move • May 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €3.10, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 6x in the Hospitality industry in Germany. Total loss to shareholders of 30% over the past three years. Major Estimate Revision • Apr 30
Consensus EPS estimates increase by 633%, revenue downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from €54.3m to €52.1m. EPS estimate rose from €0.06 to €0.44. Net income forecast to grow 37% next year vs 37% growth forecast for Hospitality industry in Germany. Consensus price target of €5.50 unchanged from last update. Share price fell 3.2% to €2.41 over the past week. Announcement • Apr 21
bet-at-home.com AG, Annual General Meeting, May 29, 2026 bet-at-home.com AG, Annual General Meeting, May 29, 2026, at 10:00 W. Europe Standard Time. Reported Earnings • Apr 21
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: €0.32 (up from €0.63 loss in FY 2024). Revenue: €48.7m (down 6.2% from FY 2024). Net income: €2.27m (up €6.72m from FY 2024). Profit margin: 4.7% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Hospitality industry in Germany. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. New Risk • Apr 20
New major risk - Revenue and earnings growth Earnings have declined by 72% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 72% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (€17.5m market cap, or US$20.6m). New Risk • Feb 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (€20.6m market cap, or US$24.3m). Announcement • Jan 03
bet-at-home.com AG Announces Supervisory Board Resignations, Effective January 2, 2026 Banijay Group has completed on January 2, 2026 the sale of its entire 53.9% stake in bet-at-home.com AG, in application of its announcement on 28 October 2025. In this context, François Riahi, Chief Executive Officer of Banijay Group, and Véronique Giraudon, Chief Financial Officer of Betclic, have resigned from their positions as members of the Supervisory Board of bet-at-home AG, with effect from January 2, 2026. New Risk • Nov 10
New major risk - Revenue and earnings growth Earnings have declined by 73% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 73% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€18.1m market cap, or US$20.9m). Reported Earnings • Nov 06
Third quarter 2025 earnings released: €0.25 loss per share (vs €0.56 loss in 3Q 2024) Third quarter 2025 results: €0.25 loss per share (improved from €0.56 loss in 3Q 2024). Revenue: €10.8m (down 9.1% from 3Q 2024). Net loss: €1.73m (loss narrowed 56% from 3Q 2024). Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Hospitality industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 23
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: €12.4m (down 9.7% from 2Q 2024). Net income: €916.0k (up 242% from 2Q 2024). Profit margin: 7.4% (up from 2.0% in 2Q 2024). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 8.5% growth forecast for the Hospitality industry in Germany. Reported Earnings • May 15
First quarter 2025 earnings released First quarter 2025 results: Revenue: €13.8m (up 17% from 1Q 2024). Net income: €887.0k (up 133% from 1Q 2024). Profit margin: 6.4% (up from 3.2% in 1Q 2024). Revenue is forecast to grow 7.6% p.a. on average during the next 2 years, compared to a 9.4% growth forecast for the Hospitality industry in Germany. Announcement • Apr 30
bet-at-home.com AG, Annual General Meeting, Jun 06, 2025 bet-at-home.com AG, Annual General Meeting, Jun 06, 2025, at 10:00 W. Europe Standard Time. New Risk • Feb 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.7% average weekly change). Market cap is less than US$100m (€21.7m market cap, or US$22.3m). Reported Earnings • Nov 07
Third quarter 2024 earnings released: €0.56 loss per share (vs €0.24 loss in 3Q 2023) Third quarter 2024 results: €0.56 loss per share (further deteriorated from €0.24 loss in 3Q 2023). Revenue: €13.2m (up 28% from 3Q 2023). Net loss: €3.90m (loss widened 134% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 24
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €14.7m (up 34% from 2Q 2023). Net income: €268.0k (down 60% from 2Q 2023). Profit margin: 1.8% (down from 6.1% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 48% per year, which means it has not declined as severely as earnings. Reported Earnings • May 19
First quarter 2024 earnings released First quarter 2024 results: Revenue: €12.5m (down 5.6% from 1Q 2023). Net income: €381.0k (down 51% from 1Q 2023). Profit margin: 3.0% (down from 5.8% in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 20 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 14
Full year 2023 earnings released: €0.21 loss per share (vs €0.079 profit in FY 2022) Full year 2023 results: €0.21 loss per share (down from €0.079 profit in FY 2022). Revenue: €46.1m (down 14% from FY 2022). Net loss: €1.51m (down 373% from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 7 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 10
Full year 2023 earnings released: €0.21 loss per share (vs €0.079 profit in FY 2022) Full year 2023 results: €0.21 loss per share (down from €0.079 profit in FY 2022). Revenue: €49.2m (down 8.0% from FY 2022). Net loss: €1.51m (down 373% from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 9 percentage points per year, which is a significant difference in performance. Announcement • Nov 11
bet-at-home.com AG Provides Earnings Guidance for the Year 2023 bet-at-home.com AG provided earnings guidance for the year 2023. The company should easily reach its new sales guidance of EUR 44 million to EUR 48 million (eNuW: EUR 47 million). New Risk • Jun 22
New major risk - Revenue and earnings growth Earnings have declined by 41% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 41% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (€29.3m market cap, or US$32.1m). Reported Earnings • May 26
First quarter 2023 earnings released First quarter 2023 results: Revenue: €13.5m (down 3.4% from 1Q 2022). Net income: €775.0k (up €3.50m from 1Q 2022). Profit margin: 5.7% (up from net loss in 1Q 2022). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 13 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 24
Full year 2022 earnings released: EPS: €0.079 (vs €1.52 in FY 2021) Full year 2022 results: EPS: €0.079 (down from €1.52 in FY 2021). Revenue: €53.4m (down 9.9% from FY 2021). Net income: €551.0k (down 95% from FY 2021). Profit margin: 1.0% (down from 18% in FY 2021). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Hospitality industry in Germany. Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 49% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €5.26, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 16x in the Hospitality industry in Europe. Total loss to shareholders of 78% over the past three years. Valuation Update With 7 Day Price Move • Jan 03
Investor sentiment improved over the past week After last week's 17% share price gain to €5.88, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 17x in the Hospitality industry in Europe. Total loss to shareholders of 88% over the past three years. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment deteriorated over the past week After last week's 19% share price decline to €5.95, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 17x in the Hospitality industry in Europe. Total loss to shareholders of 87% over the past three years. Major Estimate Revision • Nov 23
Consensus EPS estimates increase by 44% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from €48.5m to €51.7m. EPS estimate increased from €0.97 to €1.40 per share. Net income forecast to shrink 34% next year vs 8.9% growth forecast for Hospitality industry in Germany . Consensus price target up from €5.80 to €6.50. Share price rose 102% to €8.90 over the past week. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improved over the past week After last week's 31% share price gain to €5.74, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 16x in the Hospitality industry in Europe. Total loss to shareholders of 86% over the past three years. Price Target Changed • Nov 16
Price target decreased to €5.80 Down from €43.00, the current price target is provided by 1 analyst. New target price is 32% above last closing price of €4.41. Stock is down 73% over the past year. The company is forecast to post earnings per share of €0.97 for next year compared to €1.52 last year. Reported Earnings • Sep 29
Second quarter 2022 earnings released Second quarter 2022 results: Net income: (up €3.33m from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has fallen by 54% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment deteriorated over the past week After last week's 23% share price decline to €5.00, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 28x in the Hospitality industry in Germany. Total loss to shareholders of 88% over the past three years. Reported Earnings • May 24
First quarter 2022 earnings released First quarter 2022 results: Revenue: €14.6m (down 51% from 1Q 2021). Net loss: €2.73m (down 162% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 38% per year whereas the company’s share price has fallen by 40% per year. Price Target Changed • Apr 27
Price target decreased to €19.00 Down from €43.00, the current price target is provided by 1 analyst. New target price is 22% above last closing price of €15.58. Stock is down 65% over the past year. The company is forecast to post earnings per share of €1.19 for next year compared to €1.52 last year. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improved over the past week After last week's 18% share price gain to €13.98, the stock trades at a trailing P/E ratio of 6.8x. Average forward P/E is 15x in the Hospitality industry in Germany. Total loss to shareholders of 71% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €14.54 per share. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €13.98, the stock trades at a trailing P/E ratio of 6.8x. Average forward P/E is 17x in the Hospitality industry in Germany. Total loss to shareholders of 71% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €14.20 per share. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 16% share price gain to €15.60, the stock trades at a trailing P/E ratio of 7.6x. Average forward P/E is 16x in the Hospitality industry in Germany. Total loss to shareholders of 69% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €13.84 per share. Valuation Update With 7 Day Price Move • Oct 19
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €19.02, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 18x in the Hospitality industry in Europe. Total loss to shareholders of 51% over the past three years. Reported Earnings • Sep 08
Second quarter 2021 earnings released The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: €27.0m (down 6.2% from 2Q 2020). Net loss: €3.33m (down 181% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 22% per year whereas the company’s share price has fallen by 23% per year. Major Estimate Revision • Aug 09
Consensus EPS estimates fall to €1.51 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from €104.3m to €98.6m. EPS estimate also fell from €1.67 to €1.51. Net income forecast to shrink 67% next year vs 38% growth forecast for Hospitality industry in Germany . Consensus price target of €43.00 unchanged from last update. Share price was steady at €29.30 over the past week. Price Target Changed • Jul 23
Price target decreased to €49.33 Down from €54.33, the current price target is an average from 2 analysts. New target price is 60% above last closing price of €30.75. Stock is down 17% over the past year. Major Estimate Revision • Jul 22
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate fell from €2.40 to €1.33 per share. Revenue forecast steady at €93.7m. Net income forecast to shrink 48% next year vs 42% growth forecast for Hospitality industry in Germany . Consensus price target reaffirmed at €54.33. Share price fell 9.0% to €31.30 over the past week. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €30.50, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 21x in the Hospitality industry in Europe. Total loss to shareholders of 49% over the past three years. Upcoming Dividend • May 12
Upcoming dividend of €2.50 per share Eligible shareholders must have bought the stock before 19 May 2021. Payment date: 21 May 2021. Trailing yield: 5.6%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (2.0%). Reported Earnings • May 05
First quarter 2021 earnings released The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: €30.6m (down 1.6% from 1Q 2020). Net income: €4.40m (down 25% from 1Q 2020). Profit margin: 14% (down from 19% in 1Q 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 21% per year whereas the company’s share price has fallen by 19% per year. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS €3.32 (vs €2.56 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €124.6m (down 10.0% from FY 2019). Net income: €23.3m (up 30% from FY 2019). Profit margin: 19% (up from 13% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 14% per year. Price Target Changed • Mar 16
Price target increased to €52.00 Up from €44.00, the current price target is an average from 3 analysts. New target price is 18% above last closing price of €44.00. Stock is up 117% over the past year. Is New 90 Day High Low • Mar 15
New 90-day high: €42.80 The company is up 30% from a price of €32.90 on 15 December 2020. Outperformed the German market which is up 10.0% over the last 90 days. Exceeded the Hospitality industry, which is up 5.0% over the same period. Simply Wall St's valuation model estimates the intrinsic value at €50.34 per share. Is New 90 Day High Low • Feb 03
New 90-day high: €39.25 The company is up 1.0% from its price of €39.05 on 04 November 2020. The German market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €75.67 per share. Price Target Changed • Nov 11
Price target lowered to €48.67 Down from €53.67, the current price target is an average from 3 analysts. The new target price is 52% above the current share price of €32.05. As of last close, the stock is down 33% over the past year. Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS €0.64 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: €30.8m (down 10% from 3Q 2019). Net income: €4.48m (up €11.4m from 3Q 2019). Profit margin: 14% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Nov 04
Market bids up stock over the past week After last week's 18% share price gain to €38.35, the stock is trading at a trailing P/E ratio of 17.8x, up from the previous P/E ratio of 15.1x. This compares to an average P/E of 20x in the Hospitality industry in Germany. Total return to shareholders over the past three years is a loss of 54%. Is New 90 Day High Low • Oct 27
New 90-day low: €32.50 The company is down 11% from its price of €36.35 on 29 July 2020. The German market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €74.02 per share. Major Estimate Revision • Oct 15
Analysts increase revenue estimates to €114.5m The 2020 consensus revenue estimate increased from €102.7m. Earning per share (EPS) estimate also increased from €3.08 to €3.17 for the same period. Net income is expected to grow by 55% next year compared to 8.1% growth forecast for the Hospitality industry in Germany. The consensus price target increased from €53.67 to €54.00. Share price stayed mostly flat at €36.75 over the past week. Reported Earnings • Sep 18
First half earnings released Over the last 12 months the company has reported total profits of €15.1m, down 61% from the prior year. Total revenue was €129.4m over the last 12 months, down 9.4% from the prior year.