Operational Turnaround in the First Quarter of 2026
pferdewetten.de AG, the German internet‑based sports and horse‑betting specialist, announced a robust first‑quarter performance that signals a decisive reversal in its financial trajectory. The company reported a 17 % increase in revenue, reaching €16.58 million compared with €14.18 million in the same period of 2025. This growth is attributed to stronger activity in both the sports and horse‑betting segments, following a challenging February that was weak across the industry.
The most striking improvement is evident in profitability metrics. Earnings before interest, taxes, depreciation and amortisation (EBITDA) swung from a loss of €1.61 million in Q1 2025 to a gain of €1.11 million in Q1 2026. Earnings before interest and taxes (EBIT) mirrored this turnaround, rising from a loss of €2.35 million to a positive €277 thousand. These results suggest that cost controls and revenue‑generation initiatives are now translating into sustainable earnings.
Analysts Tim Kruse (CFA) and Ingo Schmidt (CIIA) from Montega AG have updated their recommendation to a “hold” stance. They maintained the 12‑month price target at €3.00, down from a previously higher target of €6.00, reflecting the company’s current valuation dynamics. The rating shift indicates that, while the company’s fundamentals have improved, the market still views the equity cautiously in the medium term.
The company’s stock traded at €2.96 on 14 May 2026, well below its 52‑week high of €3.73 (achieved 13 August 2025) and near the 52‑week low of €2.18 (10 March 2026). With a negative price‑earnings ratio of –2.29, the share remains priced on a valuation metric that reflects its recent losses, despite the recent profitability lift.
pferdewetten.de AG’s operational focus on online betting, ticket auctions, and data services has positioned it to capture growing demand for digital entertainment. The recent quarterly turnaround demonstrates that its strategy—combining user‑centric platform enhancements with disciplined cost management—has started to bear fruit. Investors will likely monitor how the company sustains this momentum and whether it can translate short‑term gains into long‑term shareholder value.
