Bet-at-home: World Cup to boost growth in Q2 26; chg. est - NuWays AG Research
bet-at-home.com is to report its Q2 26 figures on 21 September. We expect a quarter of strong top-line growth on the back of the World Cup.
ANNONS
Q2 net revenue is seen to accelerate by 9.8% yoy to € 9.7m (eNuW), driven by special advertisements, which should support online betting and through greater brand visibility also add to online gaming growth.
Our conviction remains that the company provides investors with an attractive value proposition. This is supported by current valuation (0.9x P/B), two highly cash generating double-digit margin segments and the company's high net cash base. Looking ahead, we do not expect any substantial risks arising from the ongoing, but mostly unchanged legal legacy proceedings. We reiterate BUY with a new PT of € 5.0 (previously € 5.5), based on FCFY’26e.
