Fortuna Entertainment Group reported accepted bids totalling EUR 720.7m for H1 2017, up 40.9% y/y. The result was driven by the development of the online segment and partially also the results of Hattrick group, consolidated since late May 2017.
Gross prizes grew 24.5% to EUR 100.2m. EBITDA dropped 22% to EUR 7.6m. The group’s net profit totalled EUR 2.5m (down 53.1%). This stems from the preliminary unaudited consolidated results.
CEO and board of directors chairman Per Widerström has stated that the profits were influenced primarily by one-off costs related to Central European expansion and integration of new companies into the group. Without these costs, EBITDA would have grown ca. 8% y/y.