Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2021shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2021 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | Sportradar Group AG |
Entity Central Index Key | 0001836470 |
Entity Current Reporting Status | Yes |
Current Fiscal Year End Date | --12-31 |
Entity File Number | 001-40799 |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Entity Incorporation, State or Country Code | V8 |
Entity Address, Address Line One | Feldlistrasse 2 |
Entity Address, City or Town | St. Gallen |
Entity Address, Country | CH |
Entity Address, Postal Zip Code | CH-9000 |
Document Accounting Standard | International Financial Reporting Standards |
Entity Interactive Data Current | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Entity Well-known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Shell Company | false |
Title of 12(b) Security | Class A ordinary shares, nominal value CHF 0.10 per share |
Trading Symbol | SRAD |
Security Exchange Name | NASDAQ |
ICFR Auditor Attestation Flag | false |
Auditor Name | KPMG AG |
Auditor Firm ID | 3240 |
Auditor Location | St. Gallen, Switzerland |
Business Contact [Member] | |
Document Information [Line Items] | |
Entity Address, Address Line One | Feldlistrasse 2 |
Entity Address, City or Town | St. Gallen |
Entity Address, Country | CH |
Entity Address, Postal Zip Code | CH-9000 |
City Area Code | +41 |
Local Phone Number | 71 517 72 00 |
Contact Personnel Name | Carsten Koerl |
Class A Ordinary Shares [Member] | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 206,571,517 |
Class B Ordinary Shares [Member] | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 903,670,701 |
Consolidated Statements of Prof
Consolidated Statements of Profit or Loss and Other Comprehensive Income - EUR (€) € in Thousands | 12 Months Ended | |||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||||
Statement of profit or loss and other comprehensive income [Line Items] | ||||||
Revenue | € 561,202 | € 404,924 | [1] | € 380,403 | [1] | |
Purchased services and licenses (excluding depreciation and amortization) | (119,426) | (89,307) | [1] | (61,395) | [1] | |
Internally-developed software cost capitalized | 11,794 | 6,093 | [1] | 7,863 | [1] | |
Personnel expenses | (183,820) | (121,286) | [1] | (119,078) | [1] | |
Other operating expenses | (87,308) | (41,339) | [1] | (46,727) | [1] | |
Depreciation and amortization | (129,375) | (106,229) | [1] | (112,803) | [1] | |
Impairment of intangible assets | [1] | (26,184) | (39,482) | |||
Impairment loss on trade receivables, contract assets and other financial assets | (5,952) | (4,645) | [1] | (5,303) | [1] | |
Impairment of equity-accounted investee | 0 | (4,578) | [1] | 0 | ||
Share of loss of equity-accounted investees | (1,485) | (989) | [1] | (235) | [1] | |
Loss from loss of control of subsidiary | [1] | (2,825) | ||||
Foreign currency gains (losses) - net | 5,437 | 13,806 | [1] | (1,535) | [1] | |
Finance income | 5,297 | 8,517 | [1] | 4,334 | [1] | |
Finance cost | (32,540) | (16,658) | [1] | (13,462) | [1] | |
Net income (loss) before tax | 23,824 | 22,125 | [1] | (10,245) | [1] | |
Income tax benefit (expense) | (11,037) | (7,319) | [1] | 21,910 | [1] | |
Profit for the year | 12,787 | 14,806 | [1] | 11,665 | [1] | |
Items that will not be reclassified subsequently to profit or loss | ||||||
Remeasurement of defined benefit liability | 1,399 | (926) | [1] | (706) | [1] | |
Related deferred tax income/(expense) | (202) | 136 | [1] | 92 | [1] | |
Total Items that will not be reclassified subsequently to profit or loss | 1,197 | (790) | [1] | (614) | [1] | |
Items that may be reclassified subsequently to profit or loss | ||||||
Foreign currency translation adjustment attributable to the owners of the company | 13,720 | 3,683 | [1] | (1,064) | [1] | |
Foreign currency translation adjustment attributable to non-controlling interests | (265) | 277 | [1] | (47) | [1] | |
Total Items that may be reclassified subsequently to profit or loss | 13,455 | 3,960 | [1] | (1,111) | [1] | |
Other comprehensive income (loss) for the year, net of tax | 14,652 | 3,170 | [1] | (1,725) | [1] | |
Total comprehensive income for the year | 27,439 | 17,976 | [1] | 9,940 | [1] | |
Profit attributable to: | ||||||
Owners of the Company | 12,569 | 15,245 | [1] | 11,734 | [1] | |
Non-controlling interests | 218 | (439) | [1] | (69) | [1] | |
Profit for the year | 12,787 | 14,806 | [1] | 11,665 | [1] | |
Total comprehensive income attributable to: | ||||||
Owners of the Company | 27,486 | 18,138 | [1] | 10,056 | [1] | |
Non-controlling interests | (47) | (162) | [1] | (116) | [1] | |
Total comprehensive income for the year | 27,439 | 17,976 | [1] | 9,940 | [1] | |
Class A Common Stock [Member] | ||||||
Profit attributable to: | ||||||
Owners of the Company | € 8,744 | € 10,104 | € 7,777 | |||
Profit per ordinary share attributable to owners of the Company | ||||||
Basic | € 0.05 | € 0.06 | [1] | € 0.05 | [1] | |
Diluted | € 0.05 | € 0.06 | [1] | € 0.05 | [1] | |
Class B Common Stock [Member] | ||||||
Profit attributable to: | ||||||
Owners of the Company | € 3,825 | € 5,141 | € 3,957 | |||
Profit per ordinary share attributable to owners of the Company | ||||||
Basic | € 0 | € 0.01 | [1] | € 0 | [1] | |
Diluted | € 0 | € 0.01 | [1] | € 0 | [1] | |
[1] | Certain amounts have been reclassified to conform to current year presentation as described in note 1.2. |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Current assets | ||
Cash and cash equivalents | € 742,773 | € 385,542 |
Trade receivables | 33,943 | 23,812 |
Contract assets | 40,617 | 23,775 |
Other assets and prepayments | 31,161 | 15,018 |
Income tax receivables | 1,548 | 1,661 |
Total current assets | 850,042 | 449,808 |
Non-current assets | ||
Property and equipment | 35,923 | 33,983 |
Intangible assets and goodwill | 808,472 | 346,069 |
Equity-accounted investees | 8,445 | 9,884 |
Other financial assets and other non-current assets | 41,331 | 95,055 |
Deferred tax assets | 26,908 | 22,218 |
Total non-current assets | 921,079 | 507,209 |
Total assets | 1,771,121 | 957,017 |
Current liabilities | ||
Loans and borrowings | 6,086 | 8,040 |
Trade payables | 150,012 | 131,469 |
Other liabilities | 59,992 | 37,733 |
Contract liabilities | 22,956 | 14,976 |
Income tax liabilities | 14,190 | 7,535 |
Total current liabilities | 253,236 | 199,753 |
Non-current liabilities | ||
Loans and borrowings | 429,264 | 430,639 |
Trade payables | 320,428 | 146,157 |
Other non-current liabilities | 7,081 | 10,682 |
Deferred tax liabilities | 25,478 | 5,654 |
Total non-current liabilities | 782,251 | 593,132 |
Total liabilities | 1,035,487 | 792,885 |
Ordinary shares | 27,297 | 302 |
Participation certificates | 161 | |
Treasury shares | (1,970) | |
Additional paid-in capital | 606,057 | 99,896 |
Retained earnings | 89,693 | 68,027 |
Other reserves | 15,776 | 859 |
Equity attributable to owners of the Company | 738,823 | 167,275 |
Non-controlling interest | (3,189) | (3,143) |
Total equity | 735,634 | 164,132 |
Total liabilities and equity | € 1,771,121 | € 957,017 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Equity - EUR (€) € in Thousands | Total | Particip. Certificates | Treasury shares | Additional paid-in capital | Retained earnings | Foreign currency translation reserve | Reserve from actuarial gains and losses | Attributable to owners of the Group | Attributable to non-controlling interests | Ordinary sharesShare capital | |
Balance at Dec. 31, 2018 | € 48,605 | € 136 | € 39,086 | € (584) | € 228 | € 39,168 | € 9,437 | € 302 | |||
Net profit for the year | 11,665 | [1] | 11,734 | 11,734 | (69) | ||||||
Other comprehensive income | (1,725) | (1,064) | (614) | (1,678) | (47) | ||||||
Total comprehensive income for the year | 9,940 | [1] | 11,734 | (1,064) | (614) | 10,056 | (116) | ||||
Capital increase | 107,801 | 25 | € 107,776 | 107,801 | |||||||
Changes in ownership interests | (12,302) | (12,302) | |||||||||
Balance at Dec. 31, 2019 | 154,044 | 161 | 107,776 | 50,820 | (1,648) | (386) | 157,025 | (2,981) | 302 | ||
Net profit for the year | 14,806 | [1] | 15,245 | 15,245 | (439) | ||||||
Other comprehensive income | 3,170 | 3,683 | (790) | 2,893 | 277 | ||||||
Total comprehensive income for the year | 17,976 | [1] | 15,245 | 3,683 | (790) | 18,138 | (162) | ||||
Purchase of MPP share awards | (4,300) | € (4,300) | (4,300) | ||||||||
Issuance of MPP share awards | 2,330 | 2,330 | 2,330 | ||||||||
Reclassification of unpaid contribution of capital | (8,245) | (7,880) | (365) | (8,245) | |||||||
Equity-settled share-based payments | € 2,327 | 2,327 | 2,327 | ||||||||
Balance (in Shares) at Dec. 31, 2020 | 155,389 | ||||||||||
Balance at Dec. 31, 2020 | € 164,132 | 161 | (1,970) | 99,896 | 68,027 | 2,035 | (1,176) | 167,275 | (3,143) | € 302 | |
Net profit for the year | 12,787 | 12,569 | 12,569 | 218 | |||||||
Other comprehensive income | 14,652 | 13,720 | 1,197 | 14,917 | (265) | ||||||
Total comprehensive income for the year | 27,439 | 12,569 | 13,720 | 1,197 | 27,486 | (47) | |||||
Issuance of MPP share awards | 1,815 | 1,346 | 469 | 1,815 | |||||||
Reclassification of unpaid contribution of capital | 6,052 | 5,383 | 669 | 6,052 | |||||||
Equity-settled share-based payments | 15,421 | 6,993 | 8,428 | 15,421 | |||||||
Issuance of participation certificates | 7,751 | 3 | 7,748 | 7,751 | |||||||
Reclassification of deposit liability | 3,211 | 3,211 | 3,211 | ||||||||
Issuance of ordinary shares (in Shares) | 2,407 | ||||||||||
Issuance of ordinary shares | 546,630 | 544,223 | 546,630 | ||||||||
IPO restructuring (in Shares) | 24,890 | ||||||||||
IPO restructuring | (100,088) | € (164) | € 624 | (125,136) | (100,088) | € (302) | |||||
Grants to sport rights holders | € 63,270 | 63,270 | 63,270 | ||||||||
Balance (in Shares) at Dec. 31, 2021 | 0 | 27,297 | |||||||||
Balance at Dec. 31, 2021 | € 735,634 | € 606,057 | € 89,693 | € 15,755 | € 21 | € 738,823 | € (3,189) | ||||
[1] | Certain amounts have been reclassified to conform to current year presentation as described in note 1.2. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - EUR (€) € in Thousands | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||
OPERATING ACTIVITIES: | |||||
Profit for the year | € 12,787 | € 14,806 | [1] | € 11,665 | [1] |
Adjustments to reconcile profit for the year to net cash provided by operating activities: | |||||
Income tax (benefit) expense | 11,037 | 7,319 | (21,910) | ||
Interest income | (5,179) | (6,661) | (4,236) | ||
Interest expense | 32,325 | 16,658 | 13,439 | ||
Impairment losses on financial assets | 5,889 | 1,698 | 1,601 | ||
Impairment of equity-accounted investee | 0 | 4,578 | [1] | 0 | |
Other financial expenses (income) | 96 | (3,617) | 3,136 | ||
Foreign currency losses (gains), net | (5,437) | (13,806) | [1] | 1,535 | [1] |
Amortization and impairment of intangible assets | 119,048 | 122,646 | 142,752 | ||
Depreciation of property and equipment | 10,327 | 9,767 | 9,533 | ||
Equity-settled share-based payments | 15,431 | 2,327 | 0 | ||
Other | 609 | 1,930 | (449) | ||
Cash flow from operating activities before working capital changes, interest and income taxes | 196,933 | 157,645 | 157,066 | ||
Increase in trade receivables, contract assets, other assets and prepayments | (69,896) | (11,722) | (6,817) | ||
Increase in trade and other payables, contract and other liabilities | 44,385 | 20,657 | 11,113 | ||
Changes in working capital | (25,511) | 8,935 | 4,296 | ||
Interest paid | (31,060) | (13,263) | (13,439) | ||
Interest received | 165 | 17 | 11 | ||
Income taxes paid | (8,306) | (2,075) | (1,968) | ||
Net cash from operating activities | 132,221 | 151,259 | 145,966 | ||
INVESTING ACTIVITIES: | |||||
Acquisition of intangible assets | (124,890) | (91,956) | (91,576) | ||
Acquisition of property and equipment | (5,861) | (1,996) | (6,691) | ||
Acquisition of subsidiaries, net of cash acquired | (198,432) | (2,062) | (8,917) | ||
Contribution to equity-accounted investees | (45) | 0 | (1,689) | ||
Acquisition of financial assets | (2,605) | 0 | (550) | ||
Derecognition of cash held by deconsolidated subsidiary | 0 | 0 | (790) | ||
Collection of loans receivable | 265 | 454 | 270 | ||
Issuance of loans receivable | (2,270) | (2,687) | (4,214) | ||
Collection of deposits | 222 | 215 | 0 | ||
Payment of deposits | (152) | (108) | (145) | ||
Net cash used in investing activities | (333,768) | (98,140) | (114,302) | ||
FINANCING ACTIVITIES: | |||||
Payment of lease liabilities | (7,118) | (3,817) | (5,088) | ||
Proceeds from borrowing of bank debt | 0 | 462,057 | 0 | ||
Transaction costs related to borrowings | 0 | (11,160) | 0 | ||
Principal payments on bank debt | (2,376) | (170,838) | (20,100) | ||
Purchase of MPP share awards | 0 | (3,750) | 0 | ||
Proceeds from issuance of MPP share awards | 1,650 | 2,330 | 0 | ||
Change in bank overdrafts | (22) | (285) | (76) | ||
Proceeds from issue of participation certificates | 1,002 | 0 | 21,805 | ||
Proceeds from issuance of new shares | 556,639 | 0 | 0 | ||
Transaction costs related to issuance of new shares and participation certificates | (10,009) | 0 | (1,227) | ||
Net cash (used in) from financing activities | 539,766 | 274,537 | (4,686) | ||
Net increase in cash | 338,219 | 327,656 | 26,978 | ||
Cash as of January 1 | 385,542 | 57,024 | 30,016 | ||
Effects of movements in exchange rates | 19,012 | 862 | 30 | ||
Cash and cash equivalents as of December 31 | € 742,773 | € 385,542 | € 57,024 | ||
[1] | Certain amounts have been reclassified to conform to current year presentation as described in note 1.2. |
General information
General information | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
General information | 1. General information 1.1 Reporting entity Sportradar Group AG (the “Company”) and its subsidiaries (together the “Group” or “Sportradar”) is a leading provider of sports data services and premium partner for the sports betting and media industries. The Group provides sports data services to the bookmaking world with its brand “Betradar” and to the international media industry under the brand “Sportradar Media Services”. The parent company Sportradar Group AG was incorporated on June 24, 2021 as a stock corporation under the laws of Switzerland, located in St. Gallen, Switzerland, and is registered in the Commercial Register of the district court in St. Gallen. Sportradar Group AG is publicly listed holding company and it holds 100% equity interest in Sportradar Holding AG which was the parent company of the Group before that date. In connection with the initial public offering (“IPO”) in September 2021, the Group completed a series of reorganization transactions whereby all of the outstanding ordinary shares and participation certificates of Sportradar Holding AG (excluding directly or indirectly held treasury shares) were contributed and transferred, directly or indirectly, to Sportradar Group AG in exchange for newly issued Class A and Class B ordinary shares of Sportradar Group AG (the “Reorganization Transactions”). The Reorganization Transactions included the following: • Formation of Sportradar Group AG - o • Contribution of ordinary shares and participation certificates in Sportradar Holding AG - prior to the completion of the IPO, (i) all of the existing shareholders and holders of participation certificates (other than Carsten Koerl) contributed their ordinary shares and/or participation certificates of Sportradar Holding AG to Sportradar Group AG and received Class A ordinary shares in Sportradar Group AG and (ii) Carsten Koerl contributed his ordinary shares of Sportradar Holding AG to Sportradar Group AG and received (a) 2,500,000 Class A ordinary shares and (b) 903,670,701 Class B ordinary shares, in each case, of Sportradar Group AG. • Contribution of participation certificates under the Management Participation Program - certain of our directors and executive officers participate in our Management Participation Program (the “MPP”), under which participants indirectly purchased participation certificates of Sportradar Holding AG through Slam InvestCo S.à r.l. (“MPP Co”), a special purpose vehicle established to hold participation certificates of Sportradar Holding AG for the MPP. In connection with the IPO, MPP participants contributed their shares of MPP Co to Sportradar Group AG and MPP Co became a subsidiary of Sportradar Group AG. The MPP participants, in exchange, received Class A ordinary shares, a portion of which was vested and no longer subject to repurchase and a portion of which was initially unvested and subject to repurchase by us upon a termination of employment in certain circumstances. The vesting schedule generally provides for 35% of each participant’s Class A ordinary shares to vest immediately upon the consummation of the IPO and for the remaining 65% to vest in three equal installments on each of December 31, 2022, 2023 and 2024. The MPP participants received 9,566,464 Class A ordinary shares as part of the Reorganization Transactions, based upon the initial public offering price per share of $27.00. • Conversion of options under the Phantom Option Plan - Phantom Option Plan (the “POP”) is maintained for certain key employees, who are not executive officers. The participants are entitled to bonus payments calculated by reference to the value of a hypothetical option to purchase shares of Sportradar Holding AG. Based upon the initial public offering price of $27.00, the outstanding awards under the POP were converted into 66,744 restricted stock units, which will be granted to the POP participants pursuant to and under the 2021 Omnibus plan. The Company completed its listing on The Nasdaq Global Select Market on September 14, 2021 under the ticker symbol “SRAD”, offering of 19,000,000 Class A ordinary shares at the price of USD 27 per share. Sportradar Capital and reserves Class A Class B Shares Particip. Reorganization transactions 180,341,159 903,670,701 (344,611 ) (158,709 ) Capital and reserves expressed in Ordinary Share Treasury Additional paid in Particip. Reorganization transactions 24,890 (302 ) 624 (125,136 ) (164 ) The consolidated financial statements for the financial years ended December 31, 2021 were approved and authorized for issue by our Board of Directors on . 1.2 Basis of preparation The consolidated financial statements have been prepared in conformity with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The consolidated financial statements have been prepared on an accrual basis applying the historical cost concept, except for certain financial instruments that are measured at fair value. The accounting policies set out below comply with each respective IFRS effective at the end of the Group reporting period, which was December 31, 2021. They have all been applied consistently throughout the year and the preceding years. Certain monetary amounts, percentages, and other figures included in this report have been subject to rounding adjustments. Accordingly, figures shown as totals in certain tables may not be the arithmetic aggregation of the figures that precede them. On the consolidated statement of profit or loss and other comprehensive income, foreign exchange gains (2019: €13,111; 2020: €33,216) and foreign exchange losses (2019: €14,646; 2020: €19,410) have been presented as a separate line item, previously presented as part of finance costs (2019: €28,108; 2020: €36,068 ) and finance income (2019: € 17,445; 2020: €41,733 ). This change has been made to increase the transparency and readability of the financial statements. Reconciliation of Finance costs and Finance income is shown below: Reconciliation in €‘000 2019 2020 Finance costs Accrued interest on license fee payables 7,613 6,772 Interest on loans and borrowings 5,791 9,864 Other interest expense 35 22 Other finance costs Foreign exchange losses 14,646 19,410 Other finance costs 23 — Total for the period 28,108 36,068 Less Foreign exchange losses (14,646 ) (19,410 ) Total for the period after presentation change 13,462 16,658 Reconciliation in €‘000 2019 2020 Finance income Interest income 4,236 6,661 Foreign exchange gains 13,111 33,216 Other financial income 98 1,856 Total for the period 17,445 41,733 Less Foreign exchange gains (13,111 ) (33,216 ) Total for the period after presentation change (Note 9) 4,334 8,517 1.3 Basis of consolidation The consolidated financial statements comprise the financial statements of Sportradar Group AG and its subsidiaries as of December 31, 2020 and 2021 and the for the years ended December 31, 2019, 2020 and 2021 and the Group’s share of the results and net assets of its associates and joint ventures. A subsidiary is an entity controlled by the Group. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that control ceases. Intercompany transactions, balances, unrealized losses and unrealized gains on transactions between Group companies are eliminated in preparing the consolidated financial statements. Accounting policies of subsidiaries are consistent with the policies adopted by the Group. Non-controlling Non-controlling Non-controlling Non-controlling non-controlling Profit or loss and each component of Other Comprehensive Income (“OCI”) are attributed to the equity holders of the parent of the Group and to the non-controlling non-controlling A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. If the Group loses control over a subsidiary, it derecognizes the related assets (including goodwill), liabilities, non-controlling 1 .4 Coronavirus The year ended December 31, 2021, is the second reporting period in which the Group was impacted by the COVID-19 E-sports COVID-19 non-necessary The Group delivered a strong operational performance during the year despite the COVID-19 1.5 Going concern Management has reviewed the Group’s budget, considered the assumptions used in the budget, including potential impact of the COVID-19 |
Significant accounting policies
Significant accounting policies | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Significant accounting policies | 2. Significant accounting policies 2.1 New and amended standards and interpretations The following IFRS amendments and interpretations are effective from January 1, 2021 but they do not have a significant impact on the Group’s consolidated financial statements: • Amendments to IFRS 9, IAS 39 and IFRS 7: Interest rate benchmark reform – Phase 2 • Amendments to IFRS 16: COVID-19-Related 2.2 Standards and interpretations issued but not yet effective The following new and revised standards and interpretations are issued but are not yet effective and were not early adopted by the Group in preparing these consolidated financial statements. Standard or interpretation Effective date Planned Amendments to IFRS 3: References to Conceptual Framework January 1, 2022 2022 Amendments to IAS 37: Onerous contracts – Cost of fulfilling a contract January 1, 2022 2022 Amendments to IAS 16: Property, Plant and Equipment: Proceeds before Intended Use January 1, 2022 2022 Annual Improvements to IFRS Standards 2018 — 2020 January 1, 2022 2022 Amendments to IAS 1: Classification of Liabilities as Current or Non-current January 1, 2023 2023 IFRS 17 and amendments to IFRS 17: Insurance Contracts January 1, 2023 2023 Amendments to IAS 8: Definition of Accounting Estimates January 1, 2023 2023 Amendments to IAS 12: Deferred Tax related to Assets and Liabilities arising from a Single Transaction January 1, 2023 2023 Amendments to IAS 1 and IFRS Practice Statement 2: Disclosure of Accounting Policies January 1, 2023 2023 Amendments to IFRS 10 and IAS 28 : Sale or Contribution of Assets between an Investor and its Associate or Joint Venture Deferred indefinitely — The above new standards, new interpretations and amended standards are not expected to have a material impact on the consolidated financial statements of the Group. 2.3 Use of judgments, estimates and assumptions In preparing the consolidated financial statements, management is required to make judgments, estimates and assumptions that affect the application of the Group’s accounting policies and the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities reported at the end of any given period as well as the amounts of revenue and expenses for the reporting period. These judgments, estimates and related assumptions are based on historical information and other factors deemed appropriate under the circumstances, which serve as the basis for assessing the carrying amounts of assets and liabilities that cannot be derived from other sources. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized prospectively. Assumptions and estimation uncertainties The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Group based its assumptions and estimates on information available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future development, however, may change due to market changes or circumstances arising that are beyond the control of the Group. Such changes are reflected in the assumptions when they occur. The significant accounting estimates in terms of IAS 1 ‘Presentation of Financial Statements’ are: a) Impairment of assets The determination of a recoverable amount includes management’s consideration of key internal inputs and external market conditions such as future prices, growth rate, customer demand, which impact future cash flows and the determination of the most appropriate discount rate. For information on the carrying amounts of goodwill and other intangible assets and assumptions used for impairment tests for goodwill, refer to note 13. For information on the carrying amounts and assumptions used for impairment test of equity-accounted investees, refer to note 16. b) Tax step-up The recognition of the deferred tax asset for the tax step-up c) Fair value measurement of nonfinancial assets and nonfinancial liabilities acquired in business combinations and fair value of consideration transferred The Company measures the assets, liabilities and contingent liabilities acquired through a business combination to fair value. Where possible, fair value adjustments are based on external appraisals or valuation models, e.g. for contingent liabilities and intangible assets which were not recognized by the acquiree. All valuation methods rely on various assumptions such as estimated future cash flows, remaining economic useful life, etc. The consideration transferred in a business combination must be measured at fair value. Contingent consideration is measured at fair value and recognized as part of the consideration transferred at acquisition date. The initial measurement of the fair value of contingent consideration is based on an assessment of the facts and circumstances that exist at the acquisition date. For information on the fair value measurement in the business combinations, refer to note 3. Judgments The consolidated financial statements include other areas of judgment and accounting estimates. In the process of applying the Group’s accounting policies, management has made the following judgments, aside from any uncertainty arising as a result of COVID-19 License agreements The Group typically enters into license agreements with sports leagues for the right to supply data and/or live video feeds to the betting industry (and the media). As described in note 2.9 below, such license agreements fulfill the definition of an intangible asset. There remains uncertainty regarding the timing of initial recognition as an intangible asset and whether those agreements could be considered as executory contracts that should only lead to asset recognition when payments are made. IFRS does not provide industry specific guidance for such license agreements. Therefore, the general recognition requirements of IAS 38 Intangible assets License agreements are for a fixed period of time. Payments are typically made in installments over the length of the contract and are mainly fixed. If the license agreements have a non-cancellable The license agreements entered into by Sportradar are complex and the specific rights granted can vary by agreement. Therefore, the conclusion for the accounting of each license agreement involves a significant degree of judgement. During 2020, the COVID-19 The Group applied straight-line amortization except for its license agreement with the National Basketball Association (“NBA”). During 2019, amortization of the NBA license agreement was based on the expected increasing usage of the rights over the license term, which is impacted by factors such as the opening of the betting market in the US and correlated user growth. The impairment test for the NBA license agreement performed at the end of 2019 which resulted in an impairment of €36.0 million indicated that the expected usage could no longer be considered as a reliable measure of the consumption of economic benefits. Therefore, with effect from January 1, 2020, the Group changed its amortization method of the NBA license agreement from an expected usage basis to a straight-line basis. For the year ended December 31, 2020, the change in estimate resulted in an increase in the amortization expense by €2,993. For 2021 the amortization expense increased by €207. For 2022 and 2023, the amortization expense will decrease by €417 and €612, respectively. 2.4 Business combinations The Group applies the acquisition method to account for business combinations. The consideration transferred for the acquisition of a subsidiary is the fair values of the assets transferred, the liabilities incurred to the former owners of the acquired entity and the equity interests issued by the Group. The consideration transferred includes the fair values of any asset or liability resulting from a contingent consideration arrangement. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The Group recognizes any non-controlling non-controlling Acquisition-related costs are expensed as incurred. Any contingent consideration to be transferred by the Group is recognized at fair value at the acquisition date. Subsequent changes in the fair value of the contingent consideration, that is deemed to be an asset or liability, are recognized in the consolidated statements of profit or loss and other comprehensive income. For further information on business combinations refer to note 3. 2.5 Foreign currency In preparing the financial statements of each individual Group entity, transactions in foreign currencies are translated to the respective functional currency of Group companies using the exchange rate prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are subsequently translated to the functional currency at the exchange rate at the reporting date. Non-monetary 2.6 Revenue from contracts with customers The Group derives revenue mainly from service contracts with customers. Revenue from contracts with customers is recognized when it transfers control over a service to a customer at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those services. Please refer to note 4 for an overview of the performance obligations and revenue recognition within Sportradar. 2.7 Purchased services and licenses Cost of purchased services consists primarily of licenses and sports rights that have not been capitalized, fees paid to data journalists and freelancers for gathering sports data, fees to sales agents, production costs, consultancy fees, as well as IT development costs and other external service costs. These costs are primarily expensed as they are incurred. This financial statement caption does not include depreciation or amortization expense (as summarized in notes 13 and 14). 2.8 Income taxes Income taxes include current and deferred income taxes. Income taxes are recognized in profit or loss except to the extent that it relates to items recognized in other comprehensive income or directly in equity, in which case it is recognized in other comprehensive income or directly in equity, respectively. Current income taxes relate to all taxes levied on taxable income of the consolidated companies. It is calculated using tax rates that are enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Other taxes such as property taxes or excise taxes are classified as other operating expenses. Deferred tax assets and liabilities are recognized in the consolidated statements of financial position for all temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and their tax bases as well as for unused tax credits and unused tax losses carried forward. However, deferred tax is not recognized for temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss, and if the temporary difference arose from the initial recognition of goodwill. Temporary differences relating to investments in subsidiaries are not recognized to the extent the Group is able to control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the foreseeable future. Deferred tax assets are recognized for unused tax losses, unused tax credits and deductible temporary differences only to the extent that it is probable that future taxable income will be available against which they can be utilized. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. For purposes of calculating deferred tax assets and liabilities, the Group applies tax rates that are expected to be applied to temporary differences when they reverse, based on tax rates that are enacted or substantively enacted at the reporting date. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets and they relate to the same taxation authority or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously. For further details, refer to note 11. 2.9 Intangible assets Intangible assets are identifiable non-monetary IAS 38 requires an entity to recognize an intangible asset, whether purchased or self-created (at cost) if, and only if: • it is probable that the future economic benefits that are attributable to the asset will flow to the entity; and • the cost of the asset can be measured reliably. License agreements Sportradar typically enters into license agreements with sports leagues for the right to supply data and/or live video feeds to the betting industry (and the media). Those license agreements may include rights to live and past game data, live videos and marketing rights. Such license agreements fulfil the definition of an intangible asset, because they arise from contractual rights and are therefore considered identifiable non-monetary At initial recognition, license assets are measured at cost. Costs include the contractually agreed minimum license payments over the non-cancellable paid-in After initial recognition, license assets are carried at cost less accumulated amortization and impairment losses. The useful lives are based on the license term (2 - 10 years). The amortization method used reflects the pattern in which the asset’s future economic benefits are expected to be consumed. If that pattern cannot be determined reliably, the straight-line method is used. The consumption of economic benefits is influenced by the license term as well as the underlying schedule for the respective sports league. The Group generally amortizes its license agreements on a straight-line basis over the respective seasons. During 2019, amortization of the NBA license agreement was based on the expected increasing usage of the rights over the license term, which is impacted by factors such as the opening of the betting market in the US and correlated user growth. The impairment test for the NBA license agreement performed at the end of 2019 which resulted in an impairment of €36.0 million indicated that the expected usage could no longer be considered as a reliable measure of the consumption of economic benefits. Therefore, with effect from January 1, 2020, the Group changed its amortization method of the NBA license agreement from an expected usage basis to a straight-line basis. Amortization expense is recorded under Depreciation and amortization in the consolidated statements of profit or loss and other comprehensive income. For changes in payments resulting from re-negotiations Internally-developed software Research costs are expensed as incurred, and development costs are only recognized as internally-developed software (internally generated intangible assets) if all recognition criteria according to IAS 38 are met. Expenses that can be directly allocated to development projects are capitalized provided that: • the completion of the intangible asset is technically feasible, • the Group has the intention to complete the intangible asset and to use or to sell it, • the intangible asset can be sold or used internally, • the intangible asset will generate future benefits in terms of new business opportunities, cost savings or economies of scale, • sufficient technical and financial resources are available to complete the development and to use or sell the intangible asset, and • expenditures can be measured reliably (refer to note 13). Direct costs include not only the personnel expenses for the development team, but also the costs for external consultants and developers. The estimated useful lives and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis. Estimated useful life in years Internally-developed software in use 3 –5 The amount initially recognized for internally-developed software is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. When no internally-developed software can be recognized, development costs are recognized in the consolidated statements of profit or loss and other comprehensive income as incurred. Subsequent to initial recognition, development costs are measured at cost less accumulated amortization and any accumulated impairment losses. Goodwill Goodwill is initially measured at cost, being the excess of the aggregate consideration transferred and the amount recognized for non-controlling Goodwill arising from acquisition of subsidiaries is subsequently measured at cost less accumulated impairment losses. Other intangible assets Other intangible assets with definite useful lives are measured at cost less accumulated amortization and any accumulated impairment losses. Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure is recognized in the consolidated statements of profit or loss and other comprehensive income as incurred. Generally, intangible assets are amortized on a straight-line basis over the shorter of their contractual term or their estimated useful lives. The following useful lives are applied: Intangible asset Estimated useful Acquired trademarks and brand names 5 Acquired customer bases 5 -10 Software 2 -10 Other rights 2 - 5 The amortization expense is recorded under depreciation and amortization in the consolidated statements of profit or loss and other comprehensive income. The expense of low value assets is recorded in other operating expenses. Other intangible assets with indefinite useful lives as well as goodwill are not amortized but tested for impairment annually. Impairment losses on these assets are presented as a separate line in the consolidated statements of profit or loss and other comprehensive income. 2.10 Property and equipment Items of property and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses. Cost includes expenditures and, for qualifying assets, borrowing costs that are directly attributable to the acquisition of the item. If government grants are collected, they are deducted from the acquisition or manufacturing costs. Subsequent expenditure is capitalized only if it is probable that the future economic benefits associated with the expenditure will flow to the Group. Property and equipment are depreciated on a straight-line basis over the estimated useful life of the assets: Tangible asset Estimated useful Leasehold improvements 5 -12 Technical equipment and machines 3 -15 Other facilities and equipment 3 -15 Right-of-use 1 -12 The estimated useful lives and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis. Maintenance and repairs are expensed as incurred. Gains or losses resulting from the sale or retirement of assets are recognized in other operating income or expenses. Depreciation expense of property and equipment is recorded under depreciation and amortization in the consolidated statements of profit or loss and other comprehensive income. For further details on property and equipment refer to note 14. 2.11 Impairment of non-financial The Group assesses at each reporting date, whether there is a trigger that non-financial For impairment testing, assets are grouped together into the smallest group of assets that generate cash inflows from continuing use that are largely independent of the cash inflows of other assets or cash generating units (“CGU”). Goodwill arising from a business combination is allocated to the CGUs that are expected to benefit from the synergies of the business combination, irrespective of whether other assets or liabilities of the acquiree are assigned to these units. An impairment loss is recognized when an assets or CGU’s carrying amount exceeds its recoverable amount. The recoverable amount is the greater of its fair value less costs to sell and its value in use. Value in use is based on the estimated future cash flows expected to arise from the continued use of the asset or from its eventual disposal, discounted to their present value using a pre-tax If these tests result in an impairment, the relating loss is reported as a separate line in the consolidated statements of profit or loss and other comprehensive income. On the consolidated statements of financial position, impairment losses are allocated first to reduce the carrying amount of any goodwill allocated to the CGU and then to reduce the carrying amounts of the other assets in the CGU on a pro rata basis. For further details refer to note 13. If there is any indication that the considerations which led to an impairment no longer exists, the Group will consider the need to reverse all or a portion of the impairment charge except for goodwill. This reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation or amortization had no impairment loss been recognized in prior years. 2.12 Leases The Group as a lessee A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an asset, the Group assesses whether the contract meets three key evaluations under IFRS 16: • the contract contains an identified asset, which is either explicitly identified in the contract or implicitly specified by being identified at the time the asset is made available to the Group; • the Group has the right to obtain substantially all of the economic benefits from use of the identified asset throughout the period of use, considering its rights within the defined scope of the contract; and • the Group has the right to direct the use of the identified asset throughout the period of use. The Group assesses whether it has the right to direct how and for what purpose the asset is used throughout the period of use. Measurement and recognition of leases as a lessee At lease commencement date, the Group recognizes a right-of-use right-of-use The Group subsequently depreciates the right-of-use right-of-use At the commencement date, the Group measures the lease liability at the present value of the lease payments unpaid at that date, discounted using the interest rate implicit in the lease, if that rate is readily available, or the incremental borrowing rate. Generally, the Group uses the incremental borrowing rate (“IBR”) as the discount rate. The IBR is the rate of interest that the Group would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use Lease payments included in the measurement of the lease liability are made up of fixed payments (including in substance fixed payments), variable payments based on an index or rate, and – if applicable – amounts expected to be payable under a residual value guarantee, payments arising from options reasonably certain to be exercised and penalties for early termination of a lease unless the Group is reasonably certain not to terminate early. The lease liability is measured at amortized cost using the effective interest method. The liability is increased as a result of interest accrued on the balance outstanding and is reduced for lease payments made. It is remeasured to reflect any reassessment or modification, or if there are changes in in-substance When the lease liability is remeasured, a corresponding adjustment is made to the carrying amount of the right-of-use right-of-use On the consolidated statements of financial position, right-of-use Short-term leases and leases of low-value The Group has elected not to recognize right-of-use low-value For further details refer to note 15. 2.13 Financial instruments Initial recognition and derecognition Trade receivables and debt securities issued are initially recognized when they originate. All other financial assets and financial liabilities are initially recognized when the Group becomes a party to the contractual provisions of the instrument. A financial asset (unless it is a trade receivable without a significant financing component) or financial liability is initially measured at fair value plus (for financial assets) or minus (for financial liabilities), for an item not at FVTPL, transaction costs that are directly attributable to its acquisition or issue. A trade receivable without a significant financing component is initially measured at the transaction price. The Group derecognizes financial assets when the contractual right to the cash flows expires or the assets are transferred, and the Group has neither retained the contractual rights to receive cash nor assumes any obligations to pay cash from the assets. Classification and measurement Financial Assets On initial recognition, a financial asset is classified as measured at: • amortized cost; • fair value through other comprehensive income (FVOCI); or • fair value through profit and loss (FVTPL). Financial assets are not reclassified subsequent to their initial recognition unless the Group changes its business model for managing financial assets, in which case all affected financial assets are reclassified on the first day of the first reporting period following the change in the business model. A financial asset is classified as an asset measured at amortized cost if it meets both of the following conditions and is not designated as at FVTPL: • it is held within a business model whose objective is to hold assets to collect contractual cash flows; and • its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. All financial assets not classified as either asset measured at amortized cost or assets measured at FVOCI are measured at FVTPL. This includes all derivative financial assets. For further information, refer to note 26. For the purpose of assessing whether contractual cash flows are solely payments of principal and interest: - “principal” is defined as the fair value of the financial asset on initial recognition; “interest” is defined as the consideration for the time value of money and for the credit risk associated with the principal amount outstanding during a particular period of time and for other basic lending risks and costs (for example liquidity risk and administrative costs), as well as a profit margin. The Group’s trade receivables and loans entitle it solely to payments of principal and interest (only loans). The Group holds all trade receivables and loans with the objective to collect the contractual cash flows. Financial assets measured at amortized cost Loans, receivables and cash accounts are subsequently measured at amortized cost using the effective interest rate method. The amortized cost is reduced by impairment losses, if any. Gains and losses are recognized in the consolidated statements of profit or loss and other comprehensive income when the asset is derecognized, modified or impaired. Cash and cash equivalents Cash comprises cash on hand and demand deposits. Cash equivalents are short-term (maximum 3 months), highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. Cash and cash equivalents include bank accounts, petty cash and cash held by the Group. Bank overdrafts are not considered under cash as they are not an integral part of the Group’s cash management. Financial assets measured at fair value through profit or loss (FVTPL) Financial assets measured at FVTPL comprise derivative financial instruments and are subsequently measured at fair value. Net gains and losses are recognized in profit or loss. Financial assets measured at fair value through other comprehensive income (FVOCI) Financial assets measured at FVOCI comprise equity investments and are subsequently measured at fair value. Net gains and losses are recognized in other comprehensive income. Financial and other liabilities The Group’s financial liabilities include borrowings, trade payables, lease liabilities and other liabilities which are financial instruments. Financial liabilities are classified as liabilities measured at amortized cost or at FVTPL. A financial liability is classified as a liability measured at FVTPL if it is a derivative or it is designated as such on initial recognition. These are measured at fair value and net gains and losses, including any interest expense, are recognized in the consolidated statements of profit or loss and other comprehensive income. Other financial liabilities are subsequently measured at amortized cost using the effective interest method. Interest expense and foreign exchange gains and losses are recognized in the consolidated statements of profit or loss and other comprehensive income. Any gain or loss on derecognition is also recognized in the consolidated statements of profit or loss and other comprehensive income. The Group derecognizes a financial liability when its contractual obligations are discharged or cancelled or expire. The Group also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. On derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid (including any non-cash Financial assets and financial liabilities are offset, and the net amount presented in the statements of financial position when, and only when, the Group currently has a legally enforceable right to offset the amounts and it intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. Impairment for non-derivative Trade receivables and contract assets Impairment is measured based on an expected credit loss (“ECL”) model. The Group measures loss allowances for trade receivables and contract assets at an amount equal to lifetime ECLs. The Group considers a financial asset to be in default if the borrower is unlikely to pay its credit obligations to the Group in full or the financial asset is more than 90 days overdue. The Group applies a practical expedient to calculate ECLs on receivables and contract assets that do not contain a significant financing component using a provision matrix. This matrix is based on information such as delinquency status and actual credit loss experience over the last four years (on historical data) and based on current and forward-looking information on macroeconomic factors. The provision matrix is applied to all outstanding trade receivables by aging group to determine the actual ECL. The Group considered the contract assets to be current and use the same default rate as the “not overdue” trade receivables aging bucket to calculate the ECL provision. The provision matrix is not applied to financial assets which are already impaired by individual allowances. Credit-impaired financial assets At each reporting date, the Group assesses whether a financial asset carried at amortized cost is credit impaired. A financial asse |
Business combinations
Business combinations | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Business combinations | 3. Business combinations Acquisition of Optima On December 17, 2019, the Group acquired 100% of the voting shares of Optima Information Services, S.L.U (Sevilla), Optima Research & Development S.L.U. (Cadiz); Optima Gaming U.S. Ltd (Delaware), Optima BEG D.O.O Belgrade ™ turn-key The Group paid a purchase price in cash of €11.3 million as consideration for the 100% interest in Optima at closing date. As part of the purchase agreement, a deferred consideration payable of €2.6 million was determined based on the working capital adjustment at year-end During 2019, transaction costs of €615 were incurred and included in other operating expenses. The fair values of the identifiable assets and liabilities of Optima as of the date of acquisition were: in €‘000 December 17, Technology 5,692 Customer base 8,936 Other intangibles 566 Property and equipment 1,586 Trade receivables 1,623 Inventory 258 Other assets 390 Cash 2,417 Finance liabilities (976 ) Current liabilities (2,462 ) Non-current (712 ) Deferred tax liability, net (3,874 ) Net assets acquired 13,444 Goodwill 13,952 Consideration transferred 27,396 The goodwill mainly reflects synergy potential based on the ability to offer a complete turnkey solution and to deliver through the new platform structure additional products like Ads and Virtual Gaming. No goodwill is expected to be deductible for tax purposes. The trade receivables acquired comprise gross contractual amounts due of €1,830, of which €207 are expected (according to the ECL model) to be uncollectible at the date of acquisition. The Group recognized a financial liability for a deferred consideration in the amount of €13.5 million which included in other non-current The fair value measurement of tangible and intangible assets and liabilities were based on significant inputs not observable in the market and thus represent Level 3 measurements within the fair value measurement hierarchy. Level 3 fair market values were determined using a variety of information, including estimated future cash flows, appraisals and market comparables. The cashflows arising from the acquisition of Optima in 2019 were as follows: in €‘000 Cash consideration paid for acquisition of subsidiary (11,334 ) Cash acquired with the subsidiary 2,417 (Included in cash flows from investing activities) (8,917 ) Transaction costs of the acquisition (included in cash flows from operating activities) (615 ) Net cashflow on acquisition of subsidiary (9,532 ) There are no profit or loss items from Optima included in the consolidated statements of profit or loss and other comprehensive income of Sportradar for the year ended December 31, 2019, as the acquisition was at the end of December 2019. If the acquisition had occurred on January 1, 2019, the consolidated revenue of the year ended December 31, 2019 would have been €393.5 million and consolidated profit for the year ended December 31, 2019 would have been €12.3 million. Acquisition of Fresh Eight Limited On March 2, 2021, the Group acquired 100% of the voting interest in Fresh Eight Limited (“Fresh 8”), a UK based provider of a personalized messaging platform in the global betting and gaming market. The acquisition of Fresh 8 will extend Sportradar`s current Ad`s business unit. The Group paid at closing a purchase price in cash of €11.6 million as consideration for the 100% interest in Fresh 8. As part of the purchase agreement, a deferred consideration payable of €0.5 million was determined based on the working capital adjustment at period end. An additional contingent consideration will be paid to the seller in three tranches. If certain milestones stipulated in the purchase agreement are achieved, the seller will receive up to €9.7 million as cash payments in 2022 and 2023 which will be considered as part of the total purchase consideration transferred. The fair value of the contingent consideration included in the total purchase price as of March 2, 2021 was €8.2 million. An additional €0.6 million of contingent consideration was determined to be remuneration and will be recognized over the earn-out Transaction costs of €439 were incurred and included in other operating expenses. The fair values of the identifiable assets and liabilities of Fresh 8 as of the date of acquisition are as follows: in €‘000 March 2, 2021 Customer base 4,863 Technology 3,402 Property and equipment 69 Trade receivables 377 Contract assets and other assets 176 Cash 152 Current liabilities (327 ) Deferred tax liability, net (1,570 ) Net assets acquired 7,142 Goodwill 13,168 Consideration transferred 20,310 The goodwill mainly reflects synergy potential based on the ability to improve US penetration of the Ads market and further strengthen the Group’s Ads business. Goodwill is not expected to be deductible for tax purposes. The fair value of tangible and intangible assets and liabilities was based on significant inputs not observable in the market and thus represent Level 3 measurements within the fair value measurement hierarchy. Level 3 fair market values were determined using a variety of information, including estimated future cash flows, appraisals and market comparable. The cashflows arising from the acquisition of Fresh 8 in 2021 were as follows: in €‘000 Cash consideration paid for acquisition of subsidiary (12,063 ) Cash acquired with the subsidiary 152 Net cash paid for acquisition (included in cash used in investing activities) (11,911 ) Transaction costs of the acquisition (included in cash from operating activities) (439 ) Net cash outflow on acquisition of subsidiary (12,350 ) Acquisition of Atrium Sports, Inc. On May 6, 2021, the Group acquired 100% of the voting interest in Atrium Sports, Inc. (“Atrium”), a market leader in data and video analytics in the college and professional sports space. The acquisition complements and extends Sportradar’s 360-degree The Group transferred cash of €183.0 million and issued 1,805 participation certificates of the Company in connection with the acquisition. The fair value of the 1,805 participation certificates was determined to be €22.4 million as of May 6, 2021 and was based on bids received from independent third parties in connection with a potential acquisition of the Company. The participation certificates are subject to certain non-market re-purchase paid-in paid-in Transaction costs of €3.9 million were incurred and included in other operating expenses. The fair values of the identifiable assets and liabilities of Atrium as of the date of acquisition are as follows: in €‘000 May 6, 2021 Customer base 16,477 Brand 1,679 Technology 56,540 Property and equipment 3,537 Trade receivables 1,974 Contract assets and other assets 3,899 Cash 1,087 Current liabilities (10,567 ) Non-current (1,253 ) Deferred tax liability, net (15,605 ) Net assets acquired 57,768 Goodwill 134,451 Consideration transferred 192,219 The useful life for the acquired technology and customer base is estimated to be 10 years. The trade receivables acquired comprise gross contractual amounts of €2,865, of which €891 are expected to be uncollectible at the date of acquisition. The goodwill mainly reflects Atrium`s workforce and synergies to complement and extend Sportradar`s product suite and strategic growth. Goodwill is not expected to be deductible for tax purposes. The fair value of tangible and intangible assets and liabilities was based on significant inputs not observable in the market and thus represent Level 3 measurements within the fair value measurement hierarchy. Level 3 fair market values were determined using a variety of information, including estimated future cash flows, appraisals and market comparables. The cashflows arising from the acquisition of Atrium in 2021 were as follows: in €‘000 Cash consideration paid for acquisition of subsidiary (183,043 ) Cash acquired with the subsidiary 1,087 Net cash paid for acquisition (included in cash used in investing activities) (181,956 ) Transaction costs of the acquisition (included in cash from operating activities) (3,900 ) Net cash outflow on acquisition of subsidiary (185,856 ) Since the acquisition, the revenue, net loss before tax and net loss amounts included in the consolidated statement of profit or loss and other comprehensive income for the year ended December 31, 2021 are €19.1 million, €(15.5) million and €(15.2) million, respectively. If the acquisition had occurred on January 1, 2021, the pro forma consolidated revenue, net income before tax and net loss for year ended December 31, 2021 would have been €568.1 million, €1.2 million and €(9.8) million, respectively. This principally includes adjustments from the impact of the amortization of intangible assets and remuneration from the vesting of participation certificates. Acquisition of Interact Sport Pty Ltd. On June 9, 2021, the Group acquired 100% of the voting interest in Interact Sport Pty Ltd. for cash consideration of €4.7 million. As part of the purchase agreement, a deferred consideration payable of €0.4 million was determined to be withheld for the next 15 months as security for any possible claims. If certain milestones stipulated in the purchase agreement are achieved, the seller and key employees will receive up to €3.0 million in earn-out earn-out Transaction costs of €154 were incurred and included in other operating expenses. The fair values of the identifiable assets and liabilities of Interact as of the date of acquisition are as follows: in €‘000 June 9, 2021 Customer base 793 Technology 966 Brand 73 Trade receivables 222 Contract assets and other assets 359 Cash 107 Current liabilities (435 ) Deferred tax liability, net (550 ) Net assets acquired 1,535 Goodwill 3,606 Consideration transferred 5,141 The fair value of tangible and intangible assets and liabilities was based on significant inputs not observable in the market and thus represent Level 3 measurements within the fair value measurement hierarchy. Level 3 fair market values were determined using a variety of information, including estimated future cash flows, appraisals and market comparables. The cashflows arising from the acquisition of Interact in 2021 were as follows: in €‘000 Cash consideration paid for acquisition of subsidiary (4,671 ) Cash acquired with the subsidiary 107 Net cash paid for acquisition (included in cash used in investing activities) (4,564 ) Transaction costs of the acquisition (included in cash from operating activities) (154 ) Net cash outflow on acquisition of subsidiary (4,718 ) |
Revenue from contracts with cus
Revenue from contracts with customers | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Revenue from contracts with customers | 4. Revenue from contracts with customers Revenue arises from service contracts with customers. Sportradar’s main business is to provide sports data or audiovisual (“AV”) sports data feeds to its customers for their own use. Customers obtain access but not ownership rights to any sports data provided. Revenue for the Group’s major product groups consists of the following: in €‘000 2019 2020 2021 Betting data / Betting entertainment tools 176,041 170,044 214,034 Managed Betting Services (“MBS”) 34,068 46,604 79,966 Virtual Gaming and E-Sports 14,625 18,343 15,357 Betting revenue 224,734 234,991 309,357 Betting AV revenue 102,740 105,892 140,162 Other revenue 30,060 29,634 39,983 Rest of the World revenue 357,534 370,517 489,502 Media and Ad`s revenue 19,026 21,041 33,796 Betting data 3,595 9,791 15,150 Betting AV 248 3,575 5,166 Sports Solutions — — 17,588 United States revenue 22,869 34,407 71,700 Total Revenue 380,403 404,924 561,202 Performance obligations and revenue recognition policies Revenue is measured based on the consideration specified in a contract with a customer. The Group recognizes revenue when it provides a service to a customer. Betting revenue: This includes betting data, betting entertainment tools, managed betting services, virtual gaming and e-sports. Betting data/Betting entertainment tools: For Betting Data and Betting Entertainment Tools clients, a service is provided for an agreed number of matches, with sports data to be retrieved on demand over a contract period (referred to as the stand ready service). At any time, customers also have the ability to select additional matches (“single match booking” or “SMB”) over and above the agreed upon package. These matches are often used for premium events but may be used for any other normal events. The SMBs are a separate contract for distinct services sold at their stand-alone prices. The stand ready service is provided over a period of time. As the performance obligations and associated method of satisfaction measurement are substantially the same, the stand ready service represents a series. In general, there is one performance obligation for the series and therefore, revenue is recognized on a straight-line basis over the contract period. The data and service level commitments are generally consistent on a monthly basis over the term of the arrangement. As the service is provided evenly over the contract term, a straight-line measure of progress is appropriate for recognizing revenue. Revenue is recognized on a straight-line basis consistent with the entity’s efforts to fulfill the contract which are even throughout the period. In assessing the nature of the obligation, the Group considered all relevant facts and circumstances, including the timing of transfer of goods or services, and concluded that the entity’s efforts are expended evenly throughout the contract period. SMBs are provided on request from customers and result in separate contracts. The price for each match is determined on a stand-alone basis and revenue relating to SMBs is recognized at a point in time, which generally coincides with the performance of the actual matches. There are some Sports Betting contracts with customers that incorporate a revenue share scheme. The Group receives a share of revenue based on the gaming revenue generated from the betting activity on the match. The revenue share gives rise to variable consideration for each match, which is initially constrained until the point in time when the customer generates gaming revenue. The revenue share is generated from live betting events and recognized at the point in time of the actual customer sale performance. The Group’s fee on the revenue share is recognized at the point of time the customer has itself generated gaming revenue from an individual bet, which is the difference between the bet and payout. Managed Betting Services (“MBS”) MBS includes Managed Trading Services (“MTS”) and Managed Platform Services (“MPS”). MTS revenue consists of the percentage of winnings and fees charged to clients if a “bet slip” is accepted. MPS revenue consists of platform set-up MTS clients forward their proposed bets “bet slips” to the Group for consideration as to whether or not the bet is advisable. The Group has the ability to accept or decline this bet slip. If a bet slip is accepted, the Group will receive a share of the revenue or loss made by the client on the bet. MTS agreements typically specify an agreed minimum fee and revenue share percentage, and the actual fee is determined as the higher of the minimum fee and revenue share. The revenue share is based on gross or net gaming revenue. Gross gaming revenue is the total volume of stakes in excess of the total amount of payouts to betting customers. Net gaming revenue is gross gaming revenue less applicable taxes and other contractually agreed adjustments. Most MTS contracts also include a loss participation clause (i.e., in case the Gross/Net gaming revenue is negative). The Group is exposed to losses by the agreed loss participation percentage (typically the same percentage as the revenue share). Revenue is recognized monthly on the basis of actual performance (revenue share or minimum fee, if the revenue share is below agreed minimum fee). MPS is part of the Group’s MBS business following the acquisition of Optima in 2019 and provides a complete turnkey solution (including platform set-up, set-up Virtual Gaming and E-Sports: For Virtual Gaming, the Group receives income from a revenue share arrangement with clients in exchange for the provision of virtual sports data. The Group receives a share of revenue based on the income generated from the betting activity on the virtual game. The customer is not obliged to pay until it has itself generated income from the online betting activity. This results in variable consideration that is initially constrained and recognized on the basis of actual customer sale performance. For E-Sports, E-Sports Betting AV revenue: Sports Betting AV generates revenue from the sale of a live streaming solution for online, mobile and retail sports betting offers. The stand ready service is provided over a period of time. As the performance obligations and associated method of satisfaction measurement are substantially the same, the stand ready service represents a series. In general, there is one performance obligation for the series and, therefore, revenue is recognized on a straight-line basis over the contract term. Should the customer have demand that exceeds the level of performance in the contract, Sportradar provides this additional service level at the standalone market selling price. The additional obligation is satisfied, and the revenue recorded in the period of over performance. United States revenue: This primarily includes media revenue from Application Programming Interfaces (“API”) whereby the Group offers extensive sports data from over 60 sports and 400k+ games worldwide. Customers can access both live and historical data via API products. Customer contracts include multiple sports and the products offered are accessible throughout the duration of the contract. The stand ready services represent one performance obligation performed over time. Revenue is recognized on a straight-line basis over the contract term. United States revenue also includes betting and betting AV revenue (see above for accounting treatment). Sports Solutions revenue: Sports Solutions generate revenue from subscription based arrangements. The customer, either professional or colleague sports teams, purchases access to proprietary technology which links meaningful sports data and video clips to create visual statistics and analytics about players, teams, and specific games. Teams can sort and filter statistics and video clips in real time to better understand player and team strengths and weaknesses. Subscription is billed in advance for the entire service period, typically one year. Revenue is recognized equally over each month over the service period. Other revenue: This includes various revenue streams, amongst others the media revenue for the rest of the world and integrity services. Transaction Price Considerations Variable Consideration: Non-cash non-cash non-cash non-cash Allocation of transaction price to performance obligations: mark-up Price adjustments or discounts Certain costs to obtain or fulfill contracts IFRS 15 notes that incremental costs of obtaining a contract and certain costs to fulfil a contract must be recognized as an asset if certain criteria are met. Any capitalized costs must be amortized on a basis which is consistent with services rendered to the customer. The Group did not identify significant incremental costs (i.e. costs that the Group would not incur if the contract is not signed). Main costs to fulfil the contracts relate to sport rights and licenses, and software, which are capitalized as intangible assets and amortized over their useful life. Significant payment terms Stand ready services such as Betting Data, Betting Entertainment Tools, E-Sports Contract Assets and Liabilities Contract assets and liabilities relate to services not yet rendered but already paid in advance by the customer or arise from barter deals with sports rights licensors. Refer to note 18 and note 25 for further details. |
Segmental information
Segmental information | 12 Months Ended |
Dec. 31, 2021 | |
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Segmental information | 5. Segmental information The Group’s chief executive officer (CEO) is the Chief Operating Decision Maker (CODM) and monitors the operating results of its divisions separately for the purpose of making decisions about resource allocation and performance assessment. The Group has the following divisions which are its reportable segments. These divisions offer different services and are managed separately by region. Reportable segments Operations Rest of the World (“RoW”) Betting Betting and gaming solutions RoW Betting AV Live streaming solutions for online, mobile and retail sports betting United States Sports entertainment, betting, gaming and Sports Solutions All revenues included in the RoW Betting and RoW Betting AV segments are generated from customers outside the United States. In all other segments revenue includes various revenue streams, amongst others the media and Ad`s revenue for the rest of the world and integrity services. No operating segments have been aggregated to form the above reportable operating segments. Information related to each reportable segment is set out below. Adjusted EBITDA is used to measure performance because management believes that this information is the most relevant in evaluating the results of the respective segments relative to other entities that operate in the same industry. Adjusted EBITDA represents consolidated earnings before interest, tax, depreciation and amortization adjusted for impairment of intangible assets and financial assets, loss from loss of control of subsidiary, foreign exchange gains/losses, other finance income/costs and amortization of sport rights. Segment Adjusted EBITDA represents Adjusted EBITDA excluding unallocated corporate expenses. Year Ended December 31, 2019 in €‘000 RoW RoW United Total All other Total Segment revenue 224,734 102,740 22,869 350,343 30,060 380,403 Segment Adjusted EBITDA 129,233 25,724 (40,095 ) 114,862 (1,516 ) 113,346 Amortization of sport rights (14,199 ) (48,874 ) (30,820 ) (93,893 ) — (93,893 ) Year Ended December 31, 2020 in €‘000 RoW RoW United Total All other Total Segment revenue 234,991 105,892 34,407 375,290 29,634 404,924 Segment Adjusted EBITDA 118,676 26,759 (16,373 ) 129,062 (1,383 ) 127,679 Amortization of sport rights (10,933 ) (45,413 ) (24,262 ) (80,608 ) — (80,608 ) Year Ended December 31, 2021 in €‘000 RoW RoW United Total All other Total Segment revenue 309,357 140,162 71,700 521,219 39,983 561,202 Segment Adjusted EBITDA 176,987 39,246 (22,625 ) 193,608 (5,746 ) 187,862 Amortization of sport rights (16,101 ) (56,266 ) (21,946 ) (94,312 ) — (94,312 ) Reconciliations of information on reportable segments to the amounts reported in the financial statements: December 31 in €‘000 2019 2020 2021 Segment Adjusted EBITDA 113,346 127,679 187,862 Unallocated corporate expenses (1) (50,153 ) (50,811 ) (85,849 ) Share based compensation — (2,327 ) (15,431 ) Foreign currency gains (losses), net (1,535 ) 13,806 5,437 Finance income 4,334 8,517 5,297 Finance costs (13,462 ) (16,658 ) (32,540 ) Impairment of intangibles assets (39,482 ) (26,184 ) — Depreciation and amortization (112,803 ) (106,229 ) (129,375 ) Amortization of sport rights 93,893 80,608 94,312 Loss from loss of control of subsidiary (2,825 ) — — Impairment of equity-accounted investee — (4,578 ) — Impairment loss on other financial assets (1,558 ) (1,698 ) (5,889 ) Net income (loss) before tax (10,245 ) 22,125 23,824 1) Unallocated corporate expenses primarily consists of salaries and wages for management, legal, human resources, finance, office, technology and other costs not allocated to the segments. Geographic information The geographic information analyzes the Group’s revenue and non-current Revenue Years Ended December 31, in €‘000 2019 2020 2021 United Kingdom 61,495 58,387 68,688 Malta 49,101 52,674 70,529 US 22,126 30,619 67,093 Switzerland 6,100 5,013 7,397 Other countries *) 241,581 258,231 347,495 Total 380,403 404,924 561,202 *) No individual country represented more than 10% of the total. Non-current December 31, in €‘000 2020 2021 Switzerland 279,352 515,060 Germany 65,136 62,822 United States 12,879 235,935 Other countries *) 32,569 76,933 Total 389,936 890,750 *) No individual country represented more than 10% of the total. Non-current Major customer The Group did not have any individual customer that accounted for more than 10% of revenue during the year ended December 31, 2020 and 2021. The Group had one customer that accounted for more than 10% of revenue amounting to €39,390 for the year ended December 31, 2019, arising from the Group’s RoW Betting AV (73%) and RoW Betting (27%) segments. |
Purchased services and licenses
Purchased services and licenses | 12 Months Ended |
Dec. 31, 2021 | |
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Purchased services and licenses | 6. Purchased services and licenses Years Ended December 31, in €‘000 2019 2020 2021 Non-capitalized 18,194 46,804 48,324 Data journalist and freelancer fees 15,991 15,728 16,225 Production costs 13,811 9,880 17,188 Variable service fees 5,755 4,016 6,829 Sales agents 2,095 1,786 3,924 Consultancy fees 2,855 1,316 9,930 Optima platform and consultancy fees — 2,605 2,370 Ads costs and operational fees 1,233 4,147 9,861 Other costs 1,461 3,025 4,775 Total 61,395 89,307 119,426 |
Other operating expenses
Other operating expenses | 12 Months Ended |
Dec. 31, 2021 | |
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Other operating expenses | 7. Other operating expenses Years Ended December 31, in €‘000 2019 2020 2021 Legal and other consulting expenses 16,680 15,899 46,886 Telecommunication and IT expenses 7,334 8,023 12,523 Software-as-a 3,613 5,101 9,482 Marketing expenses 6,634 3,469 5,341 Travel expenses 5,545 1,338 1,803 Insurance 306 351 4,961 Office expenses 3,864 3,020 3,028 Other costs 2,751 4,138 3,284 Total 46,727 41,339 87,308 |
Foreign currency gains (losses)
Foreign currency gains (losses), net | 12 Months Ended |
Dec. 31, 2021 | |
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Foreign currency gains (losses), net | 8. Foreign currency gains (losses), net Years Ended December 31, in €‘000 2019 2020 2021 Foreign currency gains 13,111 33,216 39,720 Foreign currency losses (14,646 ) (19,410 ) (34,283 ) Total (1,535 ) 13,806 5,437 |
Finance income
Finance income | 12 Months Ended |
Dec. 31, 2021 | |
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Finance income | 9. Finance income Years Ended December 31, in €‘000 2019 2020 2021 Interest income 4,236 6,661 5,179 Other finance income 98 1,856 118 Total 4,334 8,517 5,297 |
Finance costs
Finance costs | 12 Months Ended |
Dec. 31, 2021 | |
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Finance costs | 10. Finance costs Years Ended December 31, in €‘000 2019 2020 2021 Interest expense Accrued interest on license fee payables 7,613 6,772 10,071 Interest on loans and borrowings 5,791 9,864 22,160 Other interest expense 35 22 93 Other finance costs Other finance costs 23 — 216 Total 13,462 16,658 32,540 |
Income taxes
Income taxes | 12 Months Ended |
Dec. 31, 2021 | |
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Income taxes | 11. Income taxes The following income taxes are recognized in profit or loss: Income taxes Years Ended December 31, in €‘000 2019 2020 2021 Current tax expense: Current year 1,477 2,746 12,564 Changes in estimates related to prior years 4,450 1,077 2,051 Deferred tax expense: Origination and reversal of temporary differences (30,130 ) 3,700 1,567 Impact of changes in tax rates 3,973 — — Recognition of previously unrecognized deferred tax assets (1,680 ) (204 ) (5,145 ) Income tax (benefit) expense reported in profit or loss (21,910 ) 7,319 11,037 In 2021, changes in estimates related to prior years was €2,051, and in 2019, was €4,450 primarily relating to tax expenses in regard to prior years in Norway. New income tax regulations for Switzerland in 2019: As of May 19, 2019, Switzerland approved a change in the Swiss Tax Code, which grants the cantons more freedom in their tax governance. In general, tax rates are lowered, but in the case of Sportradar, privileges for entities which obtain the majority of their revenue abroad are also abolished. Consequently, the effective tax rate for Sportradar increased from 9% to 14.5% from January 1, 2020. Since the change in tax rate was enacted in 2019, it is immediately applicable. Consequently, Sportradar applied the 14.5% rate in measuring its deferred tax assets/liabilities as of December 31, 2019. In addition, entities including Sportradar AG, which previously benefitted from the 9% rate due to their international activities, are deemed to dispose and reacquire their overseas operations free of tax. The uplift in value of these operations is then deductible for tax purposes over the next ten years (Tax-step tax-free step-up , The reconciliation of the changes in the net deferred tax asset recognized in the consolidated statement of financial position, net: in €‘000 2020 2021 Net deferred tax / asset as of January 1, 20,122 16,564 Additions from business combinations — (17,725 ) Recognized in other comprehensive income 136 202 Recognized in profit or loss (3,496 ) 3,577 Foreign currency translation adjustment (198 ) (1,188 ) Net deferred tax asset as of December 31, 16,564 1,430 The decrease in the net deferred tax asset in respect of additions from business combinations related to the acquisition of Atrium Sports, Inc., Fresh Eight Limited and Interact Sport Pty Ltd (see note 3). The deferred tax assets and liabilities relate to the following items: December 31, 2020 2021 in €‘000 Consolidated Consolidated Consolidated Consolidated Other assets and prepayments 3,756 1,436 4,644 (337 ) Intangible assets (8,493 ) (4,071 ) (19,114 ) 8,769 Trade and other payables 1,536 205 4,637 2,410 Tax loss carry-forward 3,362 (715 ) 2,887 (475 ) Tax step-up 17,000 — 15,600 (1,400 ) Other assets non-current — — (5,119 ) (5,119 ) Other (597 ) (351 ) (2,105 ) (271 ) Deferred tax income (3,496 ) 3,577 Net deferred tax asset 16,564 1,430 Reflected in the consolidated statements of financial position as follows: Deferred tax assets 22,218 26,908 Deferred tax liabilities (5,654 ) (25,478 ) Deferred tax assets, net 16,564 1,430 The applicable tax rate for the tax expense reconciliation below is taken from the income tax rate for the holding entity Sportradar Group AG at 9.0%, 14.5% and 14.5% for the years ended December 31, 2019, 2020 and 2021, respectively. The differences between the income tax expense calculated by the applicable tax rate and the effective income tax are as follows: Years Ended December 31, in €‘000 2019 2020 2021 Net income (loss) before tax (10,245 ) 22,125 23,824 Applicable tax rate 9.0 % 14.5 % 14.5 % Tax benefit (expense) applying the Company tax rate 922 (3,208 ) (3,454 ) Effect of tax losses and tax offsets not recognized as deferred tax assets 2,613 744 (6,327 ) Effect on recognition of deferred tax assets, on previous unused tax losses and tax offsets 1,680 204 5,145 Changes in estimates related to prior years (4,450 ) (1,077 ) (2,051 ) Effect of non-deductible (147 ) (4,527 ) (4,132 ) Effect of difference to the Group tax rate 610 935 555 Effects of changes in tax rate (deferred tax rate) 3,973 — — Other effects (291 ) (389 ) (773 ) Tax step up 17,000 — — Income tax benefit (expense) 21,910 (7,319 ) (11,037 ) Effective tax rate 213.9 % 33.1 % 46.3 % Effect of tax losses and tax offsets not recognized as deferred tax assets during the years ended December 31, 2019 and 2020 are mainly due to the usage of tax losses in the US, Switzerland and Austria, which were previously not recognized as deferred tax asset. For the year ended December 31, 2021 effect relates mainly to losses in the Luxembourg entity, Sportradar Holding AG and Atrium Sports Inc. not recognized as deferred tax asset. Effect on recognition of deferred tax assets, on previously unused tax losses and tax offsets during the years ended December 31, 2019, 2020 and 2021 are mainly due to the estimation that accumulated losses from Sportradar US are partly recoverable. For the years ended December 31, 2019 and 2021, the changes in estimates related to prior years mainly relate to prior year tax expenses expected from an ongoing tax litigation in Norway. Effect of non-deductible non-deductible non-tax For the year ended December 31, 2019, the effect of changes in tax rates mainly relates to the remeasurement of the Swiss deferred tax assets/liabilities, following the aforementioned tax reform. No deferred tax asset has been recognized in respect of tax losses totaling €24,936 and €2,190,774 for the years ended December 31, 2020 and 2021, respectively. The periods in which the tax loss carryforwards that are not recognized as deferred tax assets may be used are as follows: Periods in which tax loss carry-forwards not recognized as deferred tax December 31, in €‘000 2020 2021 Unlimited 7,272 64,797 will expire within 5 years 16,052 17,169 will expire thereafter 1,612 2,133,690 The majority of the non-recognized |
Earnings per share (EPS)
Earnings per share (EPS) | 12 Months Ended |
Dec. 31, 2021 | |
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Earnings per share (EPS) | 12. Earnings per share (EPS) Basic earnings available to ordinary shareholders per share is computed based on the weighted average number of ordinary shares outstanding during the period. The historical weighted average number of ordinary shares outstanding for the comparative periods were recalculated by using an exchange ratio. The following table reflects the income data used in the basic and diluted EPS calculations: Years Ended December 31, in €‘000 2019 2020 2021 Profit attributable 7,777 10,104 8,744 Profit attributable 3,957 5,141 3,825 Profit attributable to owners of the Company (basic and diluted) 11,734 15,245 12,569 Class A and Class B shareholders are entitled to dividends based on the nominal value of the ordinary shares. As the Class B shares have lower nominal value, the shares are entitled to 1/10 The following table reflects the share data used for the weighted-average number of Class B shares (basic and diluted): Years Ended December 31, in thousands of shares 2019 2020 2021 Issued Class B shares at January 1 903,671 903,671 903,671 Weighted-average number of Class B shares at December 31 (basic and diluted) 903,671 903,671 903,671 The following table reflects the share data used for the weighted-average number of Class A shares (basic): Years Ended December 31, in thousands of shares 2019 2020 2021 Issued Class A shares at January 1 163,566 177,627 177,627 Effect of share options exercised — — 19 Effect of shares issued 8,614 — 7,890 Effect of shares issued related to a business combination — — 1,133 Weighted-average number of Class A shares at December 31 172,180 177,627 186,670 The following table reflects the share data used for the weighted-average number of Class A shares (diluted): Years Ended December 31, in thousands of shares 2019 2020 2021 Weighted-average number of Class A shares at December 31 (basic) 172,180 177,627 186,670 Effect of RSU`s on issue — — 454 Effect of warrants — — 1,549 Weighted-average number of Class A shares at December 31 172,180 177,627 188,673 As of December 31, 2020, 1,185,658 RSU`s were excluded from the diluted weighted-average number of ordinary shares calculation because they contain a condition that had not been met as of December 31, 2020. |
Intangible assets and goodwill
Intangible assets and goodwill | 12 Months Ended |
Dec. 31, 2021 | |
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Intangible assets and goodwill | 13. Intangible assets and goodwill Cost in €‘000 Brand Customer Licenses Software Internally- Goodwill Total Balance as of January 1, 2020 7,100 44,766 551,614 18,189 30,248 97,187 749,104 Additions — — 64,923 26 6,093 — 71,042 Disposals (1 ) — (51,535 ) 2) (1,101 ) — — (52,637 ) Disposal due to reduction in service potential — — (17,549 ) — — — (17,549 ) Translation adjustments (41 ) (7 ) (1,042 ) (236 ) (78 ) (1,091 ) (2,495 ) Balance as of December 31, 2020 7,058 44,759 546,411 16,878 36,263 96,096 747,465 Additions — — 324,234 1,032 11,794 — 337,060 Additions through business combinations 1,767 22,134 5 60,918 — 151,225 236,049 Disposals — — (172,042 ) (6 ) — — (172,048 ) Disposal due to reduction in service potential — — (9,132 ) — — — (9,132 ) Translation adjustments 168 1,380 869 4,623 69 11,672 18,781 Balance as of December 31, 2021 8,993 68,273 690,345 83,445 48,126 258,993 1,158,175 Amortization and impairment in €‘000 Balance as of January 1, 2020 (5,847 ) (19,646 ) (280,966 ) (12,122 ) (9,726 ) — (328,307 ) Additions (204 ) (3,528 ) (87,248 ) 1) (1,724 ) (3,758 ) — (96,462 ) Impairment — — (15,789 ) — — (10,395 ) (26,184 ) Disposals 1 — 47,345 2) 1,101 — — 48,447 Translation adjustments 41 6 522 135 — 406 1,110 Balance as of December 31, 2020 (6,009 ) (23,168 ) (336,136 ) (12,610 ) (13,484 ) (9,989 ) (401,396 ) Additions (396 ) (5,012 ) (100,601 ) 1) (6,048 ) (6,991 ) — (119,048 ) Impairment — — — — — — — Disposals — — 172,042 6 188 — 172,236 Translation adjustments (37 ) (26 ) (441 ) (169 ) 30 (852 ) (1,495 ) Balance as of December 31, 2021 (6,442 ) (28,206 ) (265,136 ) (18,821 ) (20,257 ) (10,841 ) (349,703 ) Carrying amount As of December 31, 2020 1,049 21,591 210,275 4,268 22,779 86,107 346,069 As of December 31, 2021 2,551 40,067 425,209 64,624 27,869 248,152 808,472 1) Includes € 80,608 94,312 2) Disposals in 2020 primarily relates to the disposal of fully amortized licenses (€ 47,340 4,190 As of December 31, 2020 and 2021, brand names with a carrying amount of €944, have indefinite useful lives. These are classified as intangible assets with indefinite useful lives based on an analysis of the product life cycles and other relevant factors indicating that the future positive cash flows are expected to be generated for an indefinite period of time. During the year ended December 31, 2021 there was an increase of €1,767 due to additions to business combinations. During the years ended December 31, 2019, 2020 and 2021, the Group capitalized internally-developed software costs of €7,863, €6,093 and €11,794, respectively, which are shown separately on the consolidated statements of profit or loss and other comprehensive income. The capitalization of internally-developed software consists of personnel expenses (2019: €7,062; 2020: €5,736; 2021: €11,592) and external costs included in the line item “Purchased services and licenses (excluding depreciation and amortization)” (2019: €801; 2020: €357; 2021: €202). As of December 31, 2020 and 2021, additions to licenses in the amount of €50,812 and €262,003, respectively were unpaid and recognized as liabilities. Further, additions of €135 and €4,389 as of December 31, 2020 and 2021, respectively, relate to barter transactions. As of December 31, 2021, additions of €27,965 relate to a recognized asset resulting from granted equity instruments and a warrant to a licensor. During the years ended December 31, 2019, 2020 and 2021, the Group settled €50,699, €71,861 and €82,187, respectively, of prior years’ liabilities related to the acquisition of intangible assets. During the years ended December 31, 2019, 2020 and 2021, the cash outflows for acquisitions of intangible assets amounted to €91,576, €91,956 and €124,890, respectively. During the years ended December 31, 2019, 2020 and 2021, research and development expenditure that is not eligible for capitalization amounted to €27,731, €28,511 and €36,687 respectively, and has been expensed under personnel expenses in the consolidated statements of profit or loss and other comprehensive income. The three largest sport rights included within licenses have a net book value of €167,530, €71,373 and €37,950 and constitute 65% of the balance as of December 31, 2021. The remaining useful lives are 9 years, 4 years and 3 years, respectively. 13.1 Impairment test Goodwill For the purpose of impairment testing, goodwill acquired through business combinations is allocated to a CGU that is expected to benefit from the synergies of the combination and represents the lowest level within the Group at which goodwill is monitored for internal management purposes and which is not higher than the Group’s operating segments. During 2021, management aligned the naming of CGUs with the operating segments. There was no re-organization re-allocation Allocation of the carrying amount of goodwill to the respective CGUs and the key assumptions used in estimation of the recoverable amount are as follows: Goodwill per CGU in €‘000 RoW Betting RoW Betting AV RoW United Optima Goodwill as of January 1, 2020 15,528 44,001 12,772 10,935 13,952 Impairment — — — (10,395 ) — Reclassification 13,952 — — — (13,952 ) Foreign currency translation effect (145 ) — — (540 ) — Goodwill as of December 31, 2020 29,335 44,001 12,772 — — Acquisition — 57,814 4,659 88,752 — Foreign currency translation effect 117 4,481 72 6,148 — Goodwill as of December 31, 2021 29,452 106,296 17,504 94,900 — Key assumptions used As of December 31, 2020: Terminal value growth rate 2.0 % 2.0 % 2.0 % — Budgeted EBITDA margin 1 45.1 % 16.8 % 21.3 % — Discount rate —WACC (before taxes) 10.5 % 10.4 % 10.3 % — As of December 31, 2021: Terminal value growth rate 2.0 % 2.0 % 2.0 % 2.0 % Budgeted EBITDA margin 1 39.8 % 15.3 % 22.10 % 23.2 % Discount rate —WACC (before taxes) 8.6 % 8.6 % 11.2 % 11.1 % 1 The budgeted EBITDA margin for the RoW Betting CGUs represents an average margin, whereas the budgeted EBITDA margin for the RoW Other and United States CGUs represents the assumption for the last year of the budget period. An impairment is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of its value in use and its fair value less costs to sell. The Group determines the recoverable amount of a CGU on the basis of its value in use. Impairment tests of goodwill are performed based on the financial budgets most recently prepared by the Group covering the two-year post-tax Pre-tax Based on the above, no impairment of goodwill was identified as of December 31, 2021, as the recoverable value of the CGUs exceeded the carrying value. Due to significant losses incurred in 2020 and expected decline in future performance for the CGU United States (former Sports Media – US), an impairment assessment of goodwill was performed. Accordingly, management estimated the recoverable amount of the CGU, which was its value in use of (€17.9) million. The estimate of value in use was determined using a pre-tax Impact of COVID-19 Due to the increased level of uncertainty resulting from COVID-19 Sensitivity analyses of reasonably possible changes in the underlying assumptions for the CGUs are as follows: • 0% terminal value growth rate; • 2% decrease in sustainable EBITDA margin • 1% increase in discount rate None of these downside sensitivity analyses in isolation indicated the need for an impairment. Other intangible assets As of December 2019, a separate impairment test was performed for the NBA and NFL license rights. This resulted in an impairment for the NBA license in the amount of €36.0 million and for the NFL license in the amount of €2.4 million. The recoverable amount for the NBA license amounted to €90.3 million and $ million for the NFL license. WACC (before taxes) in the value in use valuation for the NBA and NFL licenses was During 2020, an impairment test was performed for the NBA and NFL license rights due to the impact of the COVID-19 pandemic which led to an underperformance of the US media business. This resulted in an impairment of the NBA license in the amount of million and of the NFL license in the amount of million. The recoverable amount of the NBA license amounted to € million and of the NFL license to € million. WACC (before taxes) used in the value in use valuation for NBA and NFL was %. The NBA and NFL license rights impaired are part of the following segments: RoW Betting (€ million), RoW Betting AV (€ million) and United States (€ In 2021, the Company assessed whether there is any indication that other intangible assets may be impaired, considering external and internal sources of information and concluded that no other indicators of impairment were identified. |
Property and equipment
Property and equipment | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Property and equipment | 14. Property and equipment Property and equipment Cost in €‘000 Land and Other facilities and equipment Work in Progress Total Balance as of January 1, 2020 38,227 19,339 698 58,264 Additions 5,374 1,872 320 7,566 Disposals (1,347 ) (1,689 ) — (3,036 ) Reclassification 1,031 — (1,031 ) — Translation adjustments (2,199 ) (454 ) 16 (2,637 ) Balance as of December 31, 2020 41,086 19,068 3 60,157 Additions 2,961 5,807 23 8,791 Additions through business combinations 433 3,356 — 3,789 Disposals (2,325 ) (398 ) (8 ) (2,731 ) Translation adjustments 1,569 514 1 2,084 Balance as of December 31, 2021 43,724 28,347 19 72,090 Accumulated depreciation in €‘000 Balance as of January 1, 2020 (6,989 ) (12,346 ) — (19,335 ) Additions (6,763 ) (3,004 ) — (9,767 ) Disposals 532 1,627 — 2,159 Translation adjustments 495 274 — 769 Balance as of December 31, 2020 (12,725 ) (13,449 ) — (26,174 ) Additions (6,266 ) (4,061 ) — (10,327 ) Disposals 964 192 — 1,156 Translation adjustments (478 ) (344 ) — (822 ) Balance as of December 31, 2021 (18,505 ) (17,662 ) — (36,167 ) Carrying amount As of December 31, 2020 28,361 5,619 3 33,983 As of December 31, 2021 25,219 10,685 19 35,923 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Leases | 15. Leases The Group has entered into various lease agreements. With the exception of short-term leases and leases of low-value right-of-use right-of-use Rights-of-use December 31, in €‘000 2020 2021 Right-of-use Land and buildings 25,513 22,905 Other facilities and equipment 100 132 Lease liabilities – Loans and borrowings Current 7,593 6,013 Non-current 19,985 17,885 Office buildings and vehicles The Group leases property (office buildings) and a vehicle fleet. The leases are individually negotiated and include a variety of different terms and conditions in different countries but run for a period of one to 18 years, with (in case of office buildings) an option to renew the lease after that date. Generally, the lease contracts have fixed payments. Leases are either non-cancellable sub-lease Office equipment The Group leases office equipment with contract terms of one to three years. These leases are short-term and/or leases of low-value right-of-use Information about leases for which the Group is a lessee is presented below. 15.1 Right-of-use Additional information on the significant right of use assets by class of assets and the movements during the period are as follows: Office buildings in €‘000 2020 2021 Balance as of January 1, 27,968 25,513 Depreciation charge for the year (5,256 ) (5,539 ) Additions / business combinations 5,523 3,275 Derecognition due to lease termination (1,356 ) (1,301 ) Foreign currency effects (1,366 ) 957 Balance as of December 31, 25,513 22,905 15.2 Lease liabilities Set out below are the carrying amounts of lease liabilities and the movements during the period: in €‘000 2020 2021 Balance as of January 1, 28,845 27,578 Additions to lease liabilities 5,579 2,835 Accretion of interest 765 324 Payments (3,817 ) (7,118 ) Additions from business combinations — 433 Rent concessions (408 ) (59 ) Derecognition due to lease termination (1,711 ) (1,400 ) Foreign currency effects (1,675 ) 1,305 Balance as of December 31, 27,578 23,898 Current 7,593 6,013 Non-current 19,985 17,885 The maturity analysis of lease liabilities is disclosed in note 26. 15.3 Amounts recognized in profit or loss Years Ended December 31, in €‘000 2019 2020 2021 Interest on lease liabilities 671 765 324 Depreciation 4,842 5,342 5,569 Income from sub-leasing right-of-use (7 ) (21 ) (33 ) Expenses relating to short-term leases *) 798 360 547 Expenses relating to low-value 20 19 8 Rent concessions — (408 ) (59 ) Total amount recognized in profit or loss 6,324 6,057 6,356 *) The Group has elected not to recognize a lease liability for short term leases (leases with an expected term of 12 months or less) or for leases of low value assets. Payments made under such leases are expensed on a straight-line basis. 15.4 Amounts recognized in the statements of cash flows Total cash outflow for leases for the years ended December 31, 2019, 2020 and 2021 are as follows: Years Ended December 31, in €‘000 2019 2020 2021 Operating activities - cash outflow for leases -Short-term and low-value 818 379 555 -Interest paid on lease liabilities 671 765 324 Financing activities – Principal payment on lease liabilities 5,088 3,817 7,118 Total cash outflow for leases 6,577 4,961 7,997 15.5 Extension options Some leases over office buildings contain extension options exercisable by the Group. Where practicable, the Group seeks to include extension options in new leases to provide operational flexibility. Most of the extension options held are exercisable only by the Group. The Group assesses at lease commencement date whether it is reasonably certain to exercise the extension options. The Group reassesses whether it is reasonably certain to exercise the options if there is a significant event or significant changes in circumstances within its control. |
Equity-accounted investees
Equity-accounted investees | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Equity-accounted investees | 16. Equity-accounted investees 16.1 NSoft Group Until March 31, 2019, the NSoft Group, comprising NSoft d.o.o., Mostar, Bosnia and Herzegovina, in which Sportradar held 40% of the shares, and NSoft Solutions d.o.o., Zagreb, Croatia, in which NSoft d.o.o. holds 100% of the shares, was fully consolidated due to a call option that gave Sportradar the right to acquire an additional 11% equity ownership, which would give Sportradar a majority of the voting rights and control of the entity. NSoft acts as a partner for Sportradar as the entity is a leading provider of betting software and offers a retail portfolio of games to bookmakers operating in the Eastern European market. As of April 1, 2019, NSoft is accounted for using the equity method because the call option expired on March 31, 2019 and was not exercised or extended. The Group reviews the carrying amount of its investments in equity-accounted investees for impairment whenever events or changes in circumstances indicate the carrying amount may not be recoverable. As a result of the COVID-19 pre-tax No changes in ownership occurred during the year ended December 31, 2021. No impairment trigger noted as of December 31, 2021 given the positive development in the business. The Group did not identify any impairment reversal as of that day. 16.2 Bayes Esports In the fourth quarter of 2018, Bayes Esports Solutions GmbH (“Bayes Esports”), Berlin, Germany, was founded by Dojo Madness GmbH (“Dojo Madness”), Berlin, and Sportradar. The objective and purpose of Bayes Esports is the development, marketing, operation and provision of e-sports In 2020, the Group’s equity interest in Bayes Esports was diluted by 2.42%, as a result of an additional equity contribution of €1,250 by Dojo Madness. As of December 31, 2020, the Group holds a 42.58% equity ownership in Bayes Esports. In 2021, the Group ceased to recognize its share of investee’s losses once it has reduced its investment to zero. No changes in ownership occurred. |
Other financial assets and othe
Other financial assets and other non-current assets | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Other financial assets and other non-current assets | 17. Other financial assets and other non-current December 31, in €‘000 2020 2021 Unpaid contribution of capital 79,343 — Loans receivable (net of expected credit loss) 4,463 1,201 Deposits 1,228 1,855 Equity investment — 2,605 Other financial assets 10,021 365 Prepayment non-current — 35,305 Total 95,055 41,331 As of December 31, 2020, unpaid The following table displays the composition and movements of loans receivable. Composition and movements of loan receivables in €‘000 Loans non-current Loans current Total Balance as of January 1, 2020 3,882 696 4,578 Collection of loans receivable (454 ) — (454 ) Issuance of loans receivable 2,687 — 2,687 Interest 66 202 268 Impairment (1,496 ) (202 ) (1,698 ) Others (222 ) (12 ) (234 ) Balance as of December 31, 2020 4,463 684 5,147 Collection of loans receivable — (265 ) (265 ) Issuance of loans receivable 2,122 148 2,270 Interest 251 24 275 Impairment (5,889 ) — (5,889 ) Others 254 (24 ) 230 Balance as of December 31, 2021 1,201 567 1,768 Category Others represents the reclassification between current and non-current part as well as foreign currency gains or losses. The movements specifically in the provision for Expected Credit Losses (“ECLs”) are as follows: Provision for expected Credit Losses in €‘000 2020 2021 Balance as of January 1, (6,758 ) (8,456 ) Impairment (1,698 ) (5,889 ) Balance as of December 31, (8,456 ) (14,345 ) On August 9, 2021, the Group acquired 14.427% stake in Gameradar (Hainan) Technology Co., Ltd.(“Gameradar”). The Group classified the investment as an equity investment, rather than investment in associate because the Group does not have the power to participate in financial and operating policy decisions of Gameradar. The Group designated the investment at FVOCI because it represents investment that the Group intends to hold for the long term for strategic purposes. The Group’s investment in Gameradar totalled a fair value of €2,605 as at December 31, 2021 (2020: nil). The fair value of this investment was categorized as Level 3 as of December 31, 2021 (see note 26). This was because the shares were not listed on an exchange and there were no recent observable arm’s length transactions in the shares. On November 16, 2021, the Group entered into an eight non-current |
Trade receivables and contract
Trade receivables and contract assets | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Trade receivables and contract assets | 18. Trade receivables and contract assets Trade receivables December 31, in €‘000 2020 2021 Trade receivables 27,646 36,347 Trade receivable from associates 648 1,786 Allowance for expected credit losses (4,482 ) (4,190 ) Total 23,812 33,943 Contract assets December 31, in €‘000 2020 2021 Contract assets 23,890 40,800 Allowance for expected credit losses (115 ) (183 ) Total 23,775 40,617 The significant increase in the contract assets is related to the larger amount of services rendered to customers. The movement in the allowance for ECL in respect of trade receivables and contract assets during the year are as follows: in €‘000 2020 2021 Balance as of January 1, (3,194 ) (4,597 ) Provision for expected credit losses (2,947 ) (288 ) Net amounts written off / recovered 1,544 512 Balance as of December 31, (4,597 ) (4,373 ) |
Other assets and prepayments
Other assets and prepayments | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Other assets and prepayments | 19. Other assets and prepayments Other assets and prepayments are comprised of the following items: Other assets and prepayments December 31, in €‘000 2020 2021 Prepaid expenses 11,396 20,111 Other financial assets 2,093 4,684 Taxes and fees 568 1,580 Other 961 4,786 Total 15,018 31,161 |
Capital and reserves
Capital and reserves | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of classes of share capital [abstract] | |
Capital and reserves | 20. Capital and reserves Capital and reserves in number of shares Class A ordinary Class B Shares Participation Equity instruments as of January 1, 2021 and as of December 31, 2020 — — 344,611 155,389 Issued during the year before the IPO — — — 3,320 Reorganization transactions 180,314,159 903,670,701 (344,611 ) (158,709 ) Issued during the year during and subsequent to the IPO 26,257,358 — — — Equity instruments as of December 31, 2021 206,571,517 903,670,701 — — 20.1 Ordinary shares As of December 31, 2020, our shareholder The share capital before the Reorganization Transactions entitled the holders of ordinary shares to a single vote per share at shareholder meetings. However, there was a shareholder agreement in place which did not grant control to any of the shareholders. 20.2 Additional paid-in Additional paid-in In 2019, there were capital issuances in the amount of €109.0 million of which €87.2 million in proceeds was a receivable as of December 31, 2019 and was contractually payable until the end of 2026. Transaction costs for the issuance of participation certificates in the amount of €1.2 million has been deducted from additional paid-in In 2020, €7,880 was reclassified from unpaid contribution of capital to additional paid-in In 2021, €5,383 was reclassified from additional paid-in The Reorganization Transactions led to a decline of equity of €100,088, which is mainly because of the unpaid capital contribution of Slam InvestCo S.à.r.l. to Sportradar Holding AG being now consolidated. The transaction costs related to the issuance of new shares of €36,399 are recognized in additional paid-in 20.3 Participation certificates As of December 31, 2020, the participation capital of €161 comprised 183,077 registered participation certificates with a par value of CHF 1 per certificate. Participation certificates were non-voting On January 29, 2021, the Company issued 208 participation certificates for €1.0 million to a director of the Group. These participation certificates were issued at €4,808 per certificate. The fair value of these participation certificates was determined to be €12,237 per certificate. There were no vesting conditions. Therefore, a share-based payment expense in the amount of €1,545 was recognized at grant date. On April 7, 2021, the Company issued 1,307 participation certificates for €6.8 million to the seller of Optima, as the first contracted milestones were achieved. On May 6, 2021, the Company issued 1,805 participation certificates in connection with the acquisition of Atrium. See note 3 for further details on the Atrium acquisition. The participation certificates have been converted to ordinary shares pursuant to the Reorganization Transactions. 20.4 Treasury shares This represents shares which were reserved for transferring to the POP participants and obtained during the Reorganization Transactions. Refer to note 31 for further details. 20.5 Non-controlling Non-controlling % non-voting 20.6 Capital management The Group’s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain future development of the business. The capital management of the Group comprises the management of cash and shareholders’ equity and debt. The primary objective of the Group’s capital management is to ensure the availability of funds within the Group and meet the financial covenants, see note 21. The majority of Sportradar’s operations are financed by the Group’s operating cash flows. The Group manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Group may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. Loans and borrowings, excluding leases, represents 43% and 25% of total liabilities and equity as of December 31, 2020 and 2021, respectively. As of September 26, 2018, a contract for a syndicated bank loan facility of €300.0 million was signed with UBS and ING Bank. All amounts outstanding under the Credit Facility were fully repaid on November 20, 2020. As of November 17, 2020, the Group entered into a new senior facilities agreement with a syndicate of banks. Under the agreement, the Group was granted a syndicated credit facility of €530.0 million. As of December 31, 2021, the amount of €110.0 million is undrawn and is available as a multicurrency revolving facility for operational purposes. Refer to note 21 for further details. |
Loans and borrowings
Loans and borrowings | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of detailed information about borrowings [abstract] | |
Loans and borrowings | 21. Loans and borrowings Loans and borrowings December 31, in €‘000 2020 2021 Current portion of loans and borrowings Bank loans 447 73 Lease liabilities (Note 13) 7,593 6,013 8,040 6,086 Non - Current portion of loans and borrowings Bank loans 410,654 411,379 Lease liabilities (Note 13) 19,985 17,885 430,639 429,264 Total 438,679 435,350 Credit Facility Agreement: On September 26, 2018, the Group entered into a credit facility agreement (the “Credit Facility”) with UBS and ING Bank. Under the Credit Facility, the Group was granted a syndicated credit facility of €300,000 until September 23, 2023. The Group paid an upfront fee of €3,648. The facilities available were as follows: i. Facility A1: a EUR senior amortizing term loan facility up to €60,000 ii. Facility A2: a EUR senior non-amortizing iii. Facility B: a EUR acquisition term loan facility up to €100,000 towards the financing of permitted acquisitions iv. Facility C: a EUR revolving credit facility up to €50,000 towards the general corporate and working capital purposes of the Group On October 3, 2018, the Group drew €150,000 of the Credit Facility As of November 20, 2020, the Group fully settled the total principal outstanding of €125.0 million plus interest accrued to date on the Credit Facility. Senior Facilities Agreement: On November 17, 2020, the Group entered into a new senior facilities agreement (the “Senior Facilities”) with a syndicate of banks. Under the agreement, the Group was granted a syndicated credit facility of €530.0 million. The facility available is as follows: i. Facility B: a senior secured term loan facility in EUR up to €420.0 million; maturity after a period of 7 ii. A multicurrency revolving credit facility (“RCF”) in an aggregate amount up to €110.0 million in base currency; maturity after a period of 6.5 years from Closing Date. The Group paid an upfront fee, including bank, legal and rating agencies fees, of €11,160. The fee was apportioned proportionally between the two facilities. The portion related to facility B, which was fully drawn, was presented as a contra liability and is amortized to interest expense over 7 years (the “facility period”) using the effective interest rate method. On November 20, 2020, the Group fully drew down €420.0 million under Facility B of the Senior Facilities. On the same date, the Group used part of the proceeds drawn from this facility to fully settle the principal outstanding plus interest accrued to date on its then existing Credit Facility. Borrowing under facility B is repayable in full in a single bullet repayment on the date falling seven years after the Closing Date. The occurrence of an “Exit Event” which may be due to change in control or a listing transaction, provides each lender with an individual put option at par to require the Group to prepay all outstanding loans owed to it and cancellation of its commitments. No lender has exercised this put option. As of December 31, 2021, the RCF was not drawn and is fully available for general corporate and working capital purposes of the Group. Borrowings under facility B bear interest at an annual rate equal to EURIBOR plus a 4.25% margin and as from October 1, 2021 are subject to a margin as set out below: Senior Secured Net Leverage Ratio Facility B Margin (% per annum) Greater than 4.50:1.00 4.25 Greater than 4.00:1.00 but equal to or less than 4.50:1.00 4.00 Greater than 3.50:1.00 but equal to or less than 4.00:1.00 3.75 Equal to or less than 3.50:1.00 3.50 Borrowings under the RCF bear interest at an annual rate of EURIBOR plus a 3.75% margin and as from October 1, 2021 are subject to a margin as set out below: Senior Secured Net Leverage Ratio RCF Margin (% per annum) Greater than 4.50:1.00 3.75 Greater than 4.00:1.00 but equal to or less than 4.50:1.00 3.50 Greater than 3.50:1.00 but equal to or less than 4.00:1.00 3.25 Greater than 3.00:1.00 but equal to or less than 3.50:1.00 3.00 Equal to or less than 3.00:1.00 2.75 For the unutilized RCF, there applies a commitment fee in the amount of 30% of the respective RCF margin. Senior Secured Net Leverage Ratio is defined as the ratio of Consolidated Senior Secured Net Debt as at the last day of the relevant period ending, on such quarter date or on the last day of the month (as applicable), to consolidated proforma EBITDA. The Consolidated Senior Secured Net Debt means the principal amount of all borrowings of the Group constituting senior secured indebtedness, less the aggregate amount at that time of cash and cash equivalent investments held by the Group. Consolidated proforma EBITDA represents EBITDA adjusted for any acquisition, disposal, restructuring or reorganization costs and excluding any non-recurring Pursuant to the Senior Facilities, the Group is also subject to certain covenants. These covenants include limitation on the Group’s ability to incur additional indebtedness, pay dividends and distribution and repurchase of capital stock. The agreement also contains, solely for the benefit of the RCF lenders, a springing financial covenant that requires the Group to ensure that the Senior Secured Net Leverage Ratio will not exceed 8.50:1. The Senior Facilities also provides that at the end of each financial year, the Group is required to make prepayments of a percentage of Excess Cash Flow, depending on the Senior Secured Net Leverage Ratio, in the amounts set out below: Senior Secured Net Leverage Ratio Excess Cash Flow prepayment percentage Greater than 5.00:1 50% Equal to or less than 5.00:1 but greater than 4.50:1 25% Equal to or less than 4.50:1 0% Excess Cash Flow represents the total net cash flow for the year. The Group was in compliance with all covenants on the Senior Facilities as of December 31, 2021. The movements in bank loans and bank overdrafts are as follows: Financial debt movements and change in bank overdrafts in €‘000 Loans non-current Loans current Overdrafts Total Balance as of January 1, 2020 120,628 10,169 380 131,177 Proceeds from loans and borrowings 421,061 40,996 — 462,057 Transaction costs related to borrowings (11,160 ) — — (11,160 ) Payment of loans and borrowings (115,000 ) (55,838 ) (285 ) (171,123 ) Transfers (5,000 ) 5,000 — — Amortization of borrowing costs 125 — — 125 Foreign currency rate adjustment — 25 — 25 Balance as of December 31, 2020 410,654 352 95 411,101 Addition from business combination 1,475 — — 1,475 Payment of loans and borrowings (2,024 ) (352 ) (22 ) (2,398 ) Amortization of borrowing costs 1,232 — — 1,232 Foreign currency rate adjustment 42 — — 42 Balance as of December 31, 2021 411,379 — 73 411,452 |
Employee benefits
Employee benefits | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Employee benefits | 22. Employee benefits The defined contribution plans are related to various subsidiaries. The contributions are recognized as expenses in employee cost and amount to €1,719, €1,729 and €3,503 during the years ended December 31, 2019, 2020 and 2021, respectively. No further obligation exists besides the contributions paid. The Group has four pension plans classified as defined benefit plans. These plans are held in Switzerland, Austria, Slovenia and Philippines. Out of the four plans, only the Switzerland plan is partially funded. The contributions to the fund are based on the percentage of the insured salary, a part of which needs to be paid by the employees and a part by the employer. The amounts recognized in the financial statements for the defined benefit pension plans as of December 31, 2020 and 2021 are as follows: Employee defined benefit liabilities December 31, in €‘000 2020 2021 Defined benefit obligation 11,860 11,456 Fair value of plan assets (8,072 ) (9,365 ) Net defined benefit liability 3,788 2,091 The net defined benefit liability is included in other non-current The movements in the defined benefit obligation and the plan assets are as follows: Movement in the defined benefit obligations in €‘000 2020 2021 Defined benefit obligation as of January 1, 10,495 11,860 Interest expense on defined benefit obligation 20 17 Current service cost 577 799 Contributions by plan participants 280 287 Benefits deposited (180 ) (483 ) Past service cost — (782 ) Administration cost (excl. cost for managing plan assets) 5 5 Actuarial (gain) loss on defined benefit obligation 606 (604 ) Exchange rate loss 57 357 Defined benefit obligation as of December 31, 11,860 11,456 The defined benefit obligations relate to four plans: Switzerland (2020: €11.2 million; 2021: €10.7 million), Austria (2020: €0.5 million; 2021: €0.5 million), Slovenia (2020: €0.1 million; 2021: €0.1 million ) and Philippines (2020: €0.1 million; 2021: €0.2 million ). Fair value of plan assets in €‘000 2020 2021 Fair value of plan assets as of January 1, 7,876 8,072 Interest income on plan assets 12 11 Contributions by the employer 352 360 Contributions by plan participants 280 287 Benefits paid (180 ) (483 ) Return on plan assets excl. interest income (320 ) 796 EUR/ CHF exchange rate gain 52 322 Fair value of plan assets as of December 31, 8,072 9,365 |
Trade payables
Trade payables | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Trade payables | 23. Trade payables The following table represents trade payables: Trade payables December 31, in €‘000 2020 2021 License fee payables for capitalized sports data rights – non-current 144,651 316,576 Other trade payables – non-current 1,506 3,852 Trade payables non-current 146,157 320,428 License fee payables for capitalized sports data rights – current 94,574 124,789 Other trade payables and accrued expenses – current 36,895 25,223 Trade payables current 131,469 150,012 Total 277,626 470,440 License agreements which qualify as intangible assets are initially measured at cost. These costs are determined based on the present value of the license payments scheduled over the applicable binding period. As of December 31, 2020 and 2021, the carrying amount of license payments was €239,226 and €441,365, respectively. |
Other liabilities
Other liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Other liabilities | 24. Other liabilities Other liabilities - current: December 31, in €‘000 2020 2021 Other financial liabilities: Deferred and contingent consideration 7,243 11,829 Due to third parties 4,984 6,319 Other non-financial Payroll liabilities 14,041 24,550 Taxes and fees 9,384 8,171 Provisions 1,947 3,031 Deposit liability — 5,964 Due to related parties 134 128 Total other liabilities - current 37,733 59,992 Other non-current December 31, in €‘000 2020 2021 Other financial liabilities: Deferred and contingent consideration 6,750 4,321 Other non-financial Employee benefit liabilities 3,788 2,091 Other 144 669 Total other non-current 10,682 7,081 Provisions in €‘000 Legal Other Total Balance as of January 1, 2020 4,581 116 4,697 Additions 1,113 1,690 2,803 Used (3,351 ) (55 ) (3,406 ) Released (2,147 ) — (2,147 ) Balance as of December 31, 2020 196 1,751 1,947 Additions 1,340 72 1,412 Used (149 ) (56 ) (205 ) Released (93 ) (30 ) (123 ) Balance as of December 31, 2021 1,294 1,737 3,031 Refer to note 30 for details on the litigation cases. |
Contract liabilities
Contract liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Contract liabilities [abstract] | |
Contract liabilities | 25. Contract liabilities As of December 31, 2020 and 2021, current contract liabilities of €14,976 and €22,956 and non-current non-current The full amount of contract liabilities as of December 31, 2019 and 2020 relating to customer prepayments of €15,590 and €11,403, respectively, has been recognized as revenue in 2020 and 2021, respectively. An amount of €3,617 and €3,585 of contract liabilities as of December 31, 2019 and 2020, respectively, relating to barter deals has been recognized as revenue in 2020 and 2021, respectively. As of December 31, 2021, contract liabilities of €5,596, arising from barter deals with sports rights licensors will be recognized as revenue as follows: in €‘000 2021 2022 1,847 2023 1,115 2024 791 2025 420 2026 - 2030 1,423 Total 5,596 As of December 31, 2020, contract liabilities of €5,205 arising from barter deals with sports rights licensors will be recognized as revenue as follows: in €‘000 2020 2021 3,585 2022 1,024 2023 344 2024 252 Total 5,205 Amounts from a customer contract’s transaction price that are allocated to the remaining performance obligations represent contracted revenue that has not yet been recognized. They include amounts recognized as contract liabilities (see above) and amounts that are contracted but the service obligations and payments will be fulfilled in the future. The transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied as of December 31, 2020 and 2021 is €540.0 million and €979.3 million, respectively. This amount mostly comprises obligations to provide support or deliver data over a period of time, as the respective contracts typically have durations of one or multiple years. €406.8 million and €541.7 million of these amounts are expected to be recognized as revenue over the next 12 months during 2021 and 2022, respectively. The majority of the remaining amount is expected to be recognized until 2023 and 2024, respectively. The amount of transaction price allocated to the remaining performance obligations, and changes in this amount over time, are impacted mainly by currency fluctuations. |
Financial instruments - fair va
Financial instruments - fair values and risk management | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Financial instruments – fair values and risk management | 26. Financial instruments – fair values and risk management 26.1 Measurement categories of financial instruments For financial assets and liabilities measured at fair value on a recurring basis, fair value is the price the Group would receive to sell an asset or pay to transfer a liability in an orderly transaction with a market participant at the measurement date. In the absence of active markets for identical assets or liabilities, such measurements involve developing assumptions based on market observable data and, in the absence of such data, internal information that is consistent with what market participants would use in a hypothetical transaction that occurs at the measurement date. The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. Fair values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques: • Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities • Level 2: inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e. derived from prices). • Level 3: inputs for the asset or liability that are not based on observable market data (i.e., unobservable inputs). The carrying amounts of trade and other receivables, trade payables except for those for capitalized sports data rights licenses, and other financial liabilities included in other liabilities, all approximate their fair values due to the short maturities of these financial instruments. The financial instruments measured at fair value are loans receivable and equity investment. Bank loans and borrowings bore interest at variable rates. The Company assessed that their carrying amount is a reasonable approximation of fair value. The fair values of interest-bearing financial assets measured at amortized cost equal the present values of their future estimated cash flows. These present values are calculated using market interest rates for the respective currencies and terms. The following tables show the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. They do not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value. The tables present the amounts as of December 31, 2020 and 2021. Carrying amounts Fair values Financial instruments as of December 31, 2020 in €‘000 Mandatorily At Level 1 Level 2 Level 3 Financial assets measured at fair value Loans receivable 2,665 2,665 Financial assets not measured at fair value Cash and cash equivalents 385,542 Trade and other receivables 24,448 Unpaid capital contribution 89,295 Deposits 2,001 Advances and loans receivable 2,483 2,491 Total 2,665 503,769 5,156 Financial liabilities not measured at fair value Bank overdrafts 95 Loans and borrowings (excluding lease liabilities) 411,006 Deferred consideration 13,993 Trade and other payables 304,537 298,664 thereof for capitalized licenses 239,226 233,353 Total 729,631 298,664 The Company has adjusted the December 31, 2020 comparative amounts for certain immaterial errors to align with the December 31, 2021 presentation. Fair values Financial instruments as of December 31, 2021 in €‘000 Mandatorily FVOCI – At Level 1 Level 2 Level 3 Financial assets measured at fair value Loans receivable — — Equity investment 2,605 2,605 Financial assets not measured at fair value Cash and cash equivalents 742,773 Trade and other receivables 37,773 Deposits 2,142 Advances and loans receivable 1,767 1,770 Total — 2,605 784,455 4,375 Financial liabilities measured at fair value Contingent consideration 8,436 8,436 Financial liabilities not measured at fair value Bank overdrafts 73 Loans and borrowings (excluding lease liabilities) 411,379 Deferred consideration 7,714 Trade and other payables 511,719 518,145 thereof for capitalized licenses 441,366 447,792 Total 8,436 930,885 518,145 8,436 There were no transfers between Level 1, Level 2 and Level 3 during the years ended December 31, 2020 and 2021. Net gains and losses from financial assets and liabilities measured at amortized cost are included in notes 8. Net gains from foreign exchange measurement on financial assets and liabilities measured at amortized cost were €4,771, €17,937 and €1,664 for the years ended December 31, 2019, 2020 and 2021, respectively. Level 3 recurring fair values Following table shows a reconciliation from the opening balances to the closing balances for Level 3 fair values: in €‘000 Equity Loans Contingent Balance as of January 1, 2021 — 2,665 — Assumed in a business combination — — 8,246 Acquisition 2,605 — — Net change in fair value – unrealized (included in Finance cost / income and Impairment loss other financial assets) — (2,665 ) 190 Balance as of December 31, 2021 2,605 — 8,436 26.2 Financial risk management The Group’s activities expose it to a variety of financial risks: market risk, liquidity risk and credit risk. The Group’s senior management oversees the management of these risks. The Group’s senior management ensures that the Group’s financial risk activities are governed by appropriate policies and procedures and that financial risks are identified, measured and managed in accordance with the Group’s policies and risk objectives. The Group reviews and agrees on policies for managing each of these risks which are described below. 26.3 Market risk Market risks expose the Group primarily to the financial risks of changes in both foreign currency exchange rates and interest rates. Since 2017, the Group utilizes derivate financial instruments to hedge risk exposures arising from its obligations in US Dollars, however, no derivatives were used in 2021. The Group’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Group’s financial performance. Financial risk management is carried out by Group Treasury and the CFO under policies preapproved by the Board of Directors. They identify, evaluate and hedge financial risks in close co-operation non-derivative 26.4 Liquidity risk Liquidity risk is the risk that the Group will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Group’s approach to managing liquidity is to ensure that it will have sufficient liquidity to meet its liabilities when such liabilities become due. Cash flow forecasting is performed in the operating entities of the Group on a monthly basis and then aggregated by Group Finance which closely monitors the actual status per company and the rolling forecasts of the Group’s liquidity. The following tables show contractual cash flows for financial liabilities: Bank debt - contractual cash flows 1) December 31, in €‘000 2020 2021 due within one year 18,829 14,978 due within two to five years 73,139 59,658 due after five years 455,211 433,230 Total 547,179 507,866 1) The contractual cash flows include future interest payments calculated assuming EURIBOR of 0% plus a margin. Deferred & contingent consideration cash flows December 31, in €‘000 2020 2021 due within one year 7,243 11,829 due within two to five years 6,750 4,321 Total 13,993 16,150 Trade payables December 31, in €‘000 2020 2021 due within one year 133,987 150,538 due within two to five years 149,107 263,397 due after five years 8,355 106,490 Total 291,449 520,425 Lease liabilities cash flows December 31, in €‘000 2020 2021 due within one year 8,215 6,085 due within two to five years 19,003 16,623 due after five years 2,153 3,274 Total 29,371 25,982 Other financial liabilities December 31, in €‘000 2020 2021 due within one year 4,656 5,982 Total 4,656 5,982 To service the above license payment commitments and other operational requirements, the Group is dependent on existing cash resources, cash generated from operations and borrowing facilities. The Group entered into a new borrowing facility in November 2020. Refer to note 21 for further details. 26.5 Credit risk Credit risk is the risk of financial loss to the Group if a customer or counterparty to financial instruments fails to meet its contractual obligations. The Group is exposed to credit risk from its operating activities (primarily trade receivables), loans granted and its deposits with banks and financial institutions. The carrying amounts of financial assets and contract assets represent the maximum credit exposure, please refer to note 26.1. At the reporting date, there are no arrangements which will reduce our maximum credit risk. Impairment losses on financial assets and contract assets recognized in the consolidated statements of profit or loss and other comprehensive income are disclosed in note 17 “Other financial assets and other non-current assets” and note 18 “Trade receivables and contract assets”. As the Group’s risk exposure is mainly influenced by the individual characteristics of each customer, it continuously analyzes the creditworthiness of significant debtors. Due to its international operations and expanding business based on a diversified customer structure, the Group experiences an increasing but still low concentration of credit risk arising from trade receivables. The Group had one customer that accounted for more than 10% of revenue amounting to €39,390 for the year ended December 31, 2019. The Group had for the years ended December 31, 2020 and 2021 no individual customer accounted for more than 10% of revenues. For banks and financial institutions, only parties with a high credit rating are accepted. Furthermore, the Group continuously tracks the financial information of the counterparties of loans granted. The following table provides information about the exposure to credit risk and ECLs for loans receivable as of December 31, 2020 and 2021: Loans receivable: exposure to credit risk and ECLs in €‘000 Gross carrying Weighted Impairment Credit- Grades 1 - 6: Low risk (BBB- 658 0.0 % — no Grade 10: Substandard (B- CCC-) 6,243 28.1 % (1,754 ) no Grade 12: Loss (D) 6,702 100.0 % (6,702 ) yes Total as of December 31, 2020 13,603 (8,456 ) Grades 1 - 6: Low risk (BBB- 567 0.0 % — no Grade 10: Substandard (B- CCC-) 3,288 63,5 % (2,087 ) no Grade 12: Loss (D) 12,258 100.0 % (12,258 ) yes Total as of December 31, 2021 16,113 (14,345 ) Credit risk arising from billing sports betting client accounts is mitigated by billing and collecting monies in advance. Customer accounts are suspended if an invoice remains unpaid two weeks after the beginning of the billed month. Credit risk arising from sports media accounts is mitigated by customer credit checks before services are rendered. The following table provides information about the exposure to credit risk and ECLs for trade receivables from individual customers as of December 31, 2020 and 2021: Trade receivables from individual customers: exposure to credit risk and ECLs in €‘000 Gross carrying Weighted Impairment Credit- Current (not past due) 11,410 1.01 % (115 ) no 1 to 60 days past due 10,771 5.27 % (567 ) no 61 to 90 days past due 828 11.19 % (93 ) no More than 90 days past due 4,637 79.94 % (3,707 ) yes Total as of December 31, 2020 27,646 (4,482 ) Current (not past due) 7,390 0.48 % (36 ) no 1 to 60 days past due 19,525 1.58 % (308 ) no 61 to 90 days past due 2,321 6.80 % (158 ) no More than 90 days past due 7,111 51.88 % (3,689 ) yes Total as of December 31, 2021 36,347 (4,190 ) From 2020 to 2021, weighted average loss rates decreased reflecting improving economic conditions of the customers comparing to pandemic-driven ECL modeling in 2020. As of December 31, 2020 and 2021, contract assets at the gross carrying amount of €23,890 and €40,800, respectively, are measured at the same ECL probability as current, not past due trade receivables, which results in an ECL allowance of €115 and €183, respectively, deducted from the contract assets. 26.6 Foreign currency risk Currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. Foreign exchange risk arises from future commercial transactions and recognized financial assets and liabilities. The Group invoices more than 85% of its business in its functional currency the Euro. However, license rights are often purchased in foreign currencies and this exposes the Group to a significant risk from changes in foreign exchange rates; in particular, against the US Dollar following the purchase of sports data and media rights by Sportradar AG. Furthermore, some of the subsidiaries operate in local currencies, mainly AUD, GBP, CHF, NOK and USD. Exchange rates are monitored by the Finance department on a monthly basis, to ensure that adequate measures are taken if fluctuations increase. In the normal course of business, the Group may enter into financial instruments (derivatives) to manage its normal business exposures in relation to foreign currency exchange rates. The foreign exchange forward contracts are not designated as cash flow hedges and are entered into for periods consistent with foreign currency exposure of the underlying transactions, generally from one to 12 months. As of December 31, 2019, 2020 and 2021, the nominal value of the foreign exchange forward contracts was USD 54.4 million, with maturity dates within one year, USD nil and USD nil, respectively. The transaction risk on foreign currency cash flows is monitored on an ongoing basis by the Group Treasury. The main transaction risk is represented by the US Dollar, while other currencies pose minor sources of risk. As of December 31, 2020 and 2021, the Group’s net liability (asset) exposure in US Dollars was €138,664 and €(438,341), respectively. The following table provides the effects of a five and ten percent quantitative change of foreign currency exchange rates of the Euro against the exposed currencies as of December 31, 2020 and 2021, on profit or loss: Effect of a quantitative change of foreign currency exchange rates of December 31, in €‘000 2020 2021 € exchange rate +10% (13,839 ) 43,486 € exchange rate +5% (6,918 ) 21,743 € exchange rate -5% 6,918 (21,743 ) € exchange rate -10% 13,839 (43,486 ) 26.7 Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Group does not actively manage its interest rate exposure. The Group is mainly exposed to cash flow interest rate risk in conjunction with its borrowings. The interest rate is based on market interest rate plus a margin which is based on the leverage ratio as defined in the Credit Facility and Senior Facilities agreements. For the €420.0 million syndicated Senior Facilities loan and the €110.0 million unutilized RCF, the foreseeable interest expense for 2022 will be €15.8 million, based on 6-months-EURIBOR mid-term The Group incurs negative interest on positive cash balances for EUR and CHF due to the current interest levels of European and Swiss Central banks. Loans granted to customers (refer to note 17) bore fixed interest. They do not expose the Group to any interest rate risk. |
Commitments
Commitments | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Commitments | 27. Commitments During 2021, Sportradar entered into a contract to purchase enterprise resource planning (“ERP”) software. As of December 31, 2021, Sportradar had commitments relating to the ERP and license payments for non-capitalized Commitments: in €’000 2020 2021 less than one year 13,698 13,400 between more than one and less than two years 19,666 26,757 between more than two and less than three years 17,499 68,948 between more than three and less than four years 17,675 61,951 more than four years 26,875 522,733 Total 95,413 693,789 Commitments for licenses not yet capitalized amount to €87.5 and €689.9 million as of December 31, 2020 and 2021, respectively. |
Related party transactions
Related party transactions | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Related party transactions | 28. Related party transactions Related parties comprise shareholders of Sportradar with significant influence, the Canada Pension Plan Investment Board (CPPIB), as the controlling shareholder of BlackBird (a significant shareholder of Sportradar) since October 3, 2018, key management and certain companies (associates). For related party transactions with key management personnel and the board of directors, refer to note 2 9 During the years ended December 31, 2019, 2020 and 2021, the major shareholders holding more than 20% in voting rights of Sportradar Group AG/ Sportradar Holding AG were: Carsten Koerl (CEO of Sportradar) with 55.1% and BlackBird s. à r.l. with 40.0% before the IPO. Since the IPO date, Carsten Koerl , As of December 31, 2020 and 2021, the Group has outstanding loans that were issued to several members of middle management of €660 and €567, respectively. The loans have a maturity of two years and a fixed interest rate of 5%. The loans were granted to management to purchase participation shares of Slam InvestCo S.à.r.l.. During the years ended December 31, 2019, 2020 and 2021, the transactions with associates are shown below: Transactions with related parties - in €’000 NSoft Bayes Total Years Ended December 31, 2019 2020 2021 2019 2020 2021 2019 2020 2021 Revenue 1,633 1,347 1,861 819 1,585 1,730 2,452 2,931 3,591 Expenses (571 ) (706 ) (906 ) (1,858 ) (5,460 ) (5,742 ) (2,429 ) (6,165 ) (6,649 ) As of December 31, 2020 and 2021, outstanding balances with associates are shown below: NSoft Bayes Total Years Ended December 31, 2020 2021 2020 2021 2020 2021 Trade receivables 98 204 550 1,582 648 1,787 Trade payables — — (507 ) (598 ) (507 ) (598 ) |
Compensation of the board of di
Compensation of the board of directors and key management personnel | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of Compensation of the Board of Directors and key Management Personnel [Abstract] | |
Compensation of the board of directors and key management personnel | 29. Compensation of the board of directors and key management personnel During the years ended December 31, 2019, 2020 and 2021, the Board of Directors’ (“Verwaltungsrat”) aggregate emoluments amounted to €475, €60 and €470, respectively. Additionally, the directors were also reimbursed for travel costs of €281, €34 and €0 during the years ended December 31, 2019, 2020 and 2021, respectively. For the years ended December 31, 2019, 2020 and 2021, the total compensation awarded to key management personnel amounted to €6,033, €3,067 and €6,207, respectively. Additionally, Sportradar contributed an amount of €386 and €357 to the employee pension fund, for the years ended December 21, 2020 and 2021, respectively. Compensation paid to Board members and key management personnel for employee services, which is included in personnel expenses in the consolidated statement of profit or loss and other comprehensive income, is shown below: Compensation of Board members and key management personnel Years Ended December 31, in €‘000 2019 2020 2021 Short-term employee benefits 6,508 3,127 6,677 Post-employment pension and medical benefits 248 386 357 Share-based payments — 1,093 4,280 Total 6,756 4,606 11,314 |
Contingencies
Contingencies | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Contingencies | 30. Contingencies From time to time, and in the ordinary course of business, the Group may be subject to certain claims, charges and litigation. Management regularly analyzes current information pertaining to ongoing cases including, where applicable, the Group’s defense claims and insurance coverage of any potential liability. The Group recognizes provisions for potential liabilities if they have been advised by its legal counsel that it is probable the legal case against the Group will be successful. In some instances, the ultimate outcome of these cases may have a material impact on the Group’s financial position and earnings. The Group considers that no material loss to the Group is expected to result from these claims and legal proceedings. |
Share-Based Payments
Share-Based Payments | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Share-based payments | 31. Share-based payments Employee option plan Phantom option plan In December 2019, the Group established the Phantom Option Plan (“POP”). Employees were granted 946 options under the POP in January 2020 (“wave 1”). Under the wave 1 terms, upon an exit event, employees were entitled to receive bonus payments equivalent to the difference between the value of the Group’s participation certificates at the date of the exit event and the fair value of the options on grant date. Therefore, these options were initially recognized as cash-settled share-based transactions and classified as a liability. In December 2020, the POP terms were amended, and 2,529 new options were granted to employees under the amended plan (“wave 2”). Under wave 2, employees are entitled to receive restricted share units (RSUs) of the Company upon an exit event equivalent to the difference between the share price at the exit event date and the fair value of the options at grant date. Therefore, these options are recognized as equity-settled share-based transactions. Employees that received options under wave 1 were invited to convert their options to wave 2 and all employees accepted. As a result of this modification, the liability recognized originally for the cash-settled share-based payment transaction was derecognized and the modified fair value of the options under wave 2 was recognized in equity reserves, to the extent the awards had vested. The difference between the carrying amount of the liability and the amount recognized in equity reserves of €193 was recognized in personnel expenses in the consolidated statements of profit or loss and other comprehensive income. The options include a service-based (30%) component and an exit-value based (70%) component. The service-based component vests over five years from the year of grant, subject to the occurrence of an exit event within the five year period. The exit-value based component vests upon an exit event, subject to meeting the required exit value. As of the date of an exit event, the vested service-based options convert to vested RSUs and the employees receive equivalent shares in the Company immediately. Any unvested service-based options and all exit-value based options as of the exit event date will convert to unvested RSUs and vest in equal tranches until 2024. The fair value of the options issued under the POP has been determined using a stochastic model. Service and non-market The inputs used in the measurement of the fair value of the service-based and exit-value based components of the phantom options were as follows: Valuation inputs: 2020 Fair value at grant date €1,352.74 Share price at grant date €5,192.46 Exercise price €3,937.72 Expected volatility (weighted-average) 37.66% Expected term 2.47 years (service-based options) / Expected dividends — Risk-free interest rate (based on Swiss government securities) — Required exit value €2.1 billion The Group does not anticipate paying any cash dividends in the near future and therefore uses an expected dividend yield of zero in the option valuation model. The expected volatility is based on the historical volatility of public companies that are comparable to the Group over the expected term of the options. The risk-free rate is based on Swiss government securities over a period commensurate with the expected term. The required exit value is the minimum equity value of the Group required for participants to claim their vested options. Number of Weighted average grant Outstanding options as of December 31, 2020 3,475 € 1,352.74 Granted 68 € 4,081.36 Forfeited before IPO-date (78 ) € 1,352.74 Conversion to restricted share units 1,199,364 € 3.91 Forfeited after the IPO date (13,706 ) € 3.91 Vested (350,174 ) € 3.91 Unvested restricted shares as of December 31, 2021 835,484 € 3.91 The Group recognizes a share-based payment expense on these restricted share units on a graded vesting basis from grant date to 2024. For the year ended December 31, 2020 and 2021, a total share-based payment expense of €1,037 and €1,681 relating to these restricted share units has been recognized within personnel expenses in the consolidated statements of profit or loss and other comprehensive income and corresponding credit has been recognized in retained earnings within the consolidated statements of changes in equity. Management participation plan Slam InvestCo S.à.r.l. (“Slamco”) was established in May 2019 to enable the directors and employees of the Group to invest in Sportradar via the management participation plan (“MPP”) administered by Slamco. As the shares issued by Slamco are linked to the performance of Sportradar and meet the definition of a share-based arrangement under IFRS 2, they are considered share awards to Sportradar’s directors and employees. During the year 2021, the Company amended the MPP agreement to modify the vesting terms. Under the amended agreement, the share awards no longer vest fully upon an exit event, and instead will vest on a graded vesting basis from the date of the exit event until 2024. There was no change to the total cost of the existing MPP share awards to be recognized over the vesting period as a result of this amendment. In 2019, these share awards were issued at their fair value (€71 per share award) which was based on the share price determined from an arm’s length transaction between unrelated parties. Therefore, no related share-based payment expense was recognized in the consolidated statements of profit or loss and other comprehensive income for the year ended December 31, 2019. During the year ended December 31, 2019, the total number of share awards granted under the MPP was 303,646. During 2020, the Group purchased shares of Slamco from former directors and employees upon their resignation. These share purchases were considered to be forfeitures in accordance with IFRS 2. As these shares were issued at fair value and no share-based payment expense was recognized, there was no reversal of expense during 2020 relating to these forfeitures. The Group re-issued non-market expense amounted to €1,290 for the year ended December 31, 2020 and is recognized within personnel expenses in the consolidated statements of profit or loss and other comprehensive income. During the year ended December 31, 2020, 53,572 share awards were forfeited and an additional 45,008 awards were granted, resulting in a total number of outstanding share awards of 295,082. The forfeited shares that were not re-issued For the year ended December 31, 2021, the total number of share awards granted under the MPP were 7,501 of which 3,589 were forfeited, resulting in a total number of outstanding share awards of 298,994. The new share awards were issued at €108.66 per share award. The fair value of these share awards was determined to be €759.84 per share award and was based on a valuation conducted in connection with a potential acquisition of the Company and bids received from independent third parties. For the year ended December 31, 2021, the Group recognized share-based compensation expense of €5,607, in the consolidated statements of profit or loss and other comprehensive income. Omnibus stock plan In 2021, the Group established the Omnibus stock plan, under which our employees, consultants and directors, and employees and consultants of our subsidiaries are eligible to receive awards. The RSU`s include a service-based component. The service-based component vests over 4 years from the year of grant and for some cases over 1 year. The grant date fair value of the RSU`s granted under the Omnibus stock plan are estimated to be equal to the closing price of the Company`s common stock price as of the grant dates. A summary of the Omnibus stock plan restricted share and option activities for the year ended December 31, 2021 is as follows: Number of Weighted average grant Unvested restricted shares as of December 31, 2020 — $ — Granted 1,302,599 $ 17.34 Unvested restricted shares as of December 31, 2021 1,302,599 $ 17.34 Number of Weighted average exercise Outstanding as of December 31, 2020 — $ — Issued 33,513 $ 27.00 Outstanding as of December 31, 2021 33,513 $ 27.00 Exercisable as of December 31, 2021 — Unvested as of December 31, 2021 33,513 The inputs used in the measurement of the option to acquire up to 33,513 Class A shares were as follows: Valuation inputs: 2021 Valuation model Black-Scholes model Share price at grant date $27.00 Exercise price $27.00 Expected volatility (weighted-average) 37.33 % Expected term 6.5 years Expected dividends — Risk-free interest rate (based on US government bond) 1.03 % The Group recognizes a share-based payment expense on these restricted shares and options on a graded vesting basis from grant date to 2025. For the year ended December 31, 2021, a total share-based payment expense of €1,149 relating to these restricted shares has been recognized within personnel expenses in the consolidated statements of profit or loss and other comprehensive income and corresponding credit has been recognized in retained earnings within the consolidated statements of changes in equity. NHL warrants On July 22, 2021, Sportradar entered into a 10-year The inputs used in the measurement of the option to acquire up to 1,116,540 Class A shares were as follows: Valuation inputs: 2021 Valuation model Black-Scholes model Share price at grant date $27.00 Exercise price $8.96 Expected volatility (weighted-average) 30 % Expected term (as of September 14, 2021) 0 Risk-free interest rate (based on US government bond) 0.04 % The inputs used in the measurement of the warrant were as follows: Valuation inputs: 2021 Valuation model Cox-Ross-Rubinstein binominal model Share price at grant date $27.00 Exercise price $23.45 Expected volatility (weighted-average) 30 % Expected term 120 months Risk-free interest rate (based on US government bond) 1.28 % A summary of the company’s NHL warrants activity for the year ended December 31, 2021 is as follows: Number of Weighted average exercise Outstanding as of December 31, 2020 — $ — Issued — $ 23.45 Outstanding as of December 31, 2021 1,353,740 $ 23.45 Exercisable as of December 31, 2021 — Unvested as of December 31, 2021 1,353,740 The fair value of equity instruments granted are part of cost of the license asset and the corresponding credit is recognized in additional paid-in NBA warrants On November 16, 2021, Sportradar entered into an eight-year exclusive binding partnership arrangement (the “NBA Partnership Agreement”) with the NBA pursuant to which the NBA will use Sportradar’s capabilities with respect to data collection, tracking and betting feeds, as well as Sportradar’s integrity services, commencing with the 2023-2024 season for an eight-year term. In consideration of the rights and benefits granted under the NBA Partnership Agreement, the Company has agreed to pay the NBA the applicable annual license fees. The Company also agreed to grant the NBA warrants that, once vested, are exercisable for an aggregate number of Class A ordinary shares equal to 3.00% of the total number of Class A ordinary shares outstanding on a fully diluted, as-converted A summary of the company’s NBA warrants activity for the year ended December 31, 2021 is as follows: Number of Weighted average exercise Outstanding as of December 31, 2020 — $ — Issued 9,229,797 $ 0.01 Outstanding as of December 31, 2021 9,229,797 $ 0.01 Exercisable as of December 31, 2021 1,845,959 Unvested as of December 31, 2021 7,383,838 The Company will obtain the license on October 1, 2023 and has treated the already vested 20 paid-in |
Subsequent events
Subsequent events | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Subsequent events | 32. Subsequent events On March 29, 2022, the Group purchased a non-controlling interest in the subsidiary Sportradar US, LLC, a Delaware limited liability company, for $32.0 million in cash. Following this transaction, Sportradar US, LLC is a wholly-owned subsidiary of the Group. |
List Of Consolidated Entities
List Of Consolidated Entities | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
List Of Consolidated Entities | 33. List of consolidated entities Share of capital in% December 31, December 31, Holding Sportradar Group AG, Switzerland Subsidiaries Sportradar AG, Switzerland 99.99 % 99.99 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 93 % 93 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % u 100 % u 100 % u 100 % u 100 % u 100 % u 100 % u 100 % u 100 % u 100 % u 100 % Sportradar Capital Sarl SPA, Luxembourg 100 % 100 % Sportradar Jersey Holding Ltd, UK 100 % 100 % Share of capital in% December 31, December 31, Sportradar Management Ltd, UK 100 % 100 % u 100 % Slam InvestCo S.à r.l., Luxembourg 100 % Sportradar Holding AG, Switzerland 100 % Associated companies that are accounted for under the equity method u 40 % 40 % u 42.58 % 42.58 % u 49 % |
Significant accounting polici_2
Significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
New and amended standards and interpretations | 2.1 New and amended standards and interpretations The following IFRS amendments and interpretations are effective from January 1, 2021 but they do not have a significant impact on the Group’s consolidated financial statements: • Amendments to IFRS 9, IAS 39 and IFRS 7: Interest rate benchmark reform – Phase 2 • Amendments to IFRS 16: COVID-19-Related |
Standards and interpretations issued but not yet effective | 2.2 Standards and interpretations issued but not yet effective The following new and revised standards and interpretations are issued but are not yet effective and were not early adopted by the Group in preparing these consolidated financial statements. Standard or interpretation Effective date Planned Amendments to IFRS 3: References to Conceptual Framework January 1, 2022 2022 Amendments to IAS 37: Onerous contracts – Cost of fulfilling a contract January 1, 2022 2022 Amendments to IAS 16: Property, Plant and Equipment: Proceeds before Intended Use January 1, 2022 2022 Annual Improvements to IFRS Standards 2018 — 2020 January 1, 2022 2022 Amendments to IAS 1: Classification of Liabilities as Current or Non-current January 1, 2023 2023 IFRS 17 and amendments to IFRS 17: Insurance Contracts January 1, 2023 2023 Amendments to IAS 8: Definition of Accounting Estimates January 1, 2023 2023 Amendments to IAS 12: Deferred Tax related to Assets and Liabilities arising from a Single Transaction January 1, 2023 2023 Amendments to IAS 1 and IFRS Practice Statement 2: Disclosure of Accounting Policies January 1, 2023 2023 Amendments to IFRS 10 and IAS 28 : Sale or Contribution of Assets between an Investor and its Associate or Joint Venture Deferred indefinitely — The above new standards, new interpretations and amended standards are not expected to have a material impact on the consolidated financial statements of the Group. |
Use of judgments, estimates and assumptions | 2.3 Use of judgments, estimates and assumptions In preparing the consolidated financial statements, management is required to make judgments, estimates and assumptions that affect the application of the Group’s accounting policies and the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities reported at the end of any given period as well as the amounts of revenue and expenses for the reporting period. These judgments, estimates and related assumptions are based on historical information and other factors deemed appropriate under the circumstances, which serve as the basis for assessing the carrying amounts of assets and liabilities that cannot be derived from other sources. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized prospectively. Assumptions and estimation uncertainties The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Group based its assumptions and estimates on information available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future development, however, may change due to market changes or circumstances arising that are beyond the control of the Group. Such changes are reflected in the assumptions when they occur. The significant accounting estimates in terms of IAS 1 ‘Presentation of Financial Statements’ are: a) Impairment of assets The determination of a recoverable amount includes management’s consideration of key internal inputs and external market conditions such as future prices, growth rate, customer demand, which impact future cash flows and the determination of the most appropriate discount rate. For information on the carrying amounts of goodwill and other intangible assets and assumptions used for impairment tests for goodwill, refer to note 13. For information on the carrying amounts and assumptions used for impairment test of equity-accounted investees, refer to note 16. b) Tax step-up The recognition of the deferred tax asset for the tax step-up c) Fair value measurement of nonfinancial assets and nonfinancial liabilities acquired in business combinations and fair value of consideration transferred The Company measures the assets, liabilities and contingent liabilities acquired through a business combination to fair value. Where possible, fair value adjustments are based on external appraisals or valuation models, e.g. for contingent liabilities and intangible assets which were not recognized by the acquiree. All valuation methods rely on various assumptions such as estimated future cash flows, remaining economic useful life, etc. The consideration transferred in a business combination must be measured at fair value. Contingent consideration is measured at fair value and recognized as part of the consideration transferred at acquisition date. The initial measurement of the fair value of contingent consideration is based on an assessment of the facts and circumstances that exist at the acquisition date. For information on the fair value measurement in the business combinations, refer to note 3. Judgments The consolidated financial statements include other areas of judgment and accounting estimates. In the process of applying the Group’s accounting policies, management has made the following judgments, aside from any uncertainty arising as a result of COVID-19 License agreements The Group typically enters into license agreements with sports leagues for the right to supply data and/or live video feeds to the betting industry (and the media). As described in note 2.9 below, such license agreements fulfill the definition of an intangible asset. There remains uncertainty regarding the timing of initial recognition as an intangible asset and whether those agreements could be considered as executory contracts that should only lead to asset recognition when payments are made. IFRS does not provide industry specific guidance for such license agreements. Therefore, the general recognition requirements of IAS 38 Intangible assets License agreements are for a fixed period of time. Payments are typically made in installments over the length of the contract and are mainly fixed. If the license agreements have a non-cancellable The license agreements entered into by Sportradar are complex and the specific rights granted can vary by agreement. Therefore, the conclusion for the accounting of each license agreement involves a significant degree of judgement. During 2020, the COVID-19 The Group applied straight-line amortization except for its license agreement with the National Basketball Association (“NBA”). During 2019, amortization of the NBA license agreement was based on the expected increasing usage of the rights over the license term, which is impacted by factors such as the opening of the betting market in the US and correlated user growth. The impairment test for the NBA license agreement performed at the end of 2019 which resulted in an impairment of €36.0 million indicated that the expected usage could no longer be considered as a reliable measure of the consumption of economic benefits. Therefore, with effect from January 1, 2020, the Group changed its amortization method of the NBA license agreement from an expected usage basis to a straight-line basis. For the year ended December 31, 2020, the change in estimate resulted in an increase in the amortization expense by €2,993. For 2021 the amortization expense increased by €207. For 2022 and 2023, the amortization expense will decrease by €417 and €612, respectively. |
Business combinations | 2.4 Business combinations The Group applies the acquisition method to account for business combinations. The consideration transferred for the acquisition of a subsidiary is the fair values of the assets transferred, the liabilities incurred to the former owners of the acquired entity and the equity interests issued by the Group. The consideration transferred includes the fair values of any asset or liability resulting from a contingent consideration arrangement. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The Group recognizes any non-controlling non-controlling Acquisition-related costs are expensed as incurred. Any contingent consideration to be transferred by the Group is recognized at fair value at the acquisition date. Subsequent changes in the fair value of the contingent consideration, that is deemed to be an asset or liability, are recognized in the consolidated statements of profit or loss and other comprehensive income. For further information on business combinations refer to note 3. |
Foreign currency | 2.5 Foreign currency In preparing the financial statements of each individual Group entity, transactions in foreign currencies are translated to the respective functional currency of Group companies using the exchange rate prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are subsequently translated to the functional currency at the exchange rate at the reporting date. Non-monetary |
Revenue from contracts with customers | 2.6 Revenue from contracts with customers The Group derives revenue mainly from service contracts with customers. Revenue from contracts with customers is recognized when it transfers control over a service to a customer at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those services. Please refer to note 4 for an overview of the performance obligations and revenue recognition within Sportradar. |
Purchased services and licenses | 2.7 Purchased services and licenses Cost of purchased services consists primarily of licenses and sports rights that have not been capitalized, fees paid to data journalists and freelancers for gathering sports data, fees to sales agents, production costs, consultancy fees, as well as IT development costs and other external service costs. These costs are primarily expensed as they are incurred. This financial statement caption does not include depreciation or amortization expense (as summarized in notes 13 and 14). |
Income taxes | 2.8 Income taxes Income taxes include current and deferred income taxes. Income taxes are recognized in profit or loss except to the extent that it relates to items recognized in other comprehensive income or directly in equity, in which case it is recognized in other comprehensive income or directly in equity, respectively. Current income taxes relate to all taxes levied on taxable income of the consolidated companies. It is calculated using tax rates that are enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Other taxes such as property taxes or excise taxes are classified as other operating expenses. Deferred tax assets and liabilities are recognized in the consolidated statements of financial position for all temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and their tax bases as well as for unused tax credits and unused tax losses carried forward. However, deferred tax is not recognized for temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss, and if the temporary difference arose from the initial recognition of goodwill. Temporary differences relating to investments in subsidiaries are not recognized to the extent the Group is able to control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the foreseeable future. Deferred tax assets are recognized for unused tax losses, unused tax credits and deductible temporary differences only to the extent that it is probable that future taxable income will be available against which they can be utilized. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. For purposes of calculating deferred tax assets and liabilities, the Group applies tax rates that are expected to be applied to temporary differences when they reverse, based on tax rates that are enacted or substantively enacted at the reporting date. Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets and they relate to the same taxation authority or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously. For further details, refer to note 11. |
Intangible assets | 2.9 Intangible assets Intangible assets are identifiable non-monetary IAS 38 requires an entity to recognize an intangible asset, whether purchased or self-created (at cost) if, and only if: • it is probable that the future economic benefits that are attributable to the asset will flow to the entity; and • the cost of the asset can be measured reliably. License agreements Sportradar typically enters into license agreements with sports leagues for the right to supply data and/or live video feeds to the betting industry (and the media). Those license agreements may include rights to live and past game data, live videos and marketing rights. Such license agreements fulfil the definition of an intangible asset, because they arise from contractual rights and are therefore considered identifiable non-monetary At initial recognition, license assets are measured at cost. Costs include the contractually agreed minimum license payments over the non-cancellable paid-in After initial recognition, license assets are carried at cost less accumulated amortization and impairment losses. The useful lives are based on the license term (2 - 10 years). The amortization method used reflects the pattern in which the asset’s future economic benefits are expected to be consumed. If that pattern cannot be determined reliably, the straight-line method is used. The consumption of economic benefits is influenced by the license term as well as the underlying schedule for the respective sports league. The Group generally amortizes its license agreements on a straight-line basis over the respective seasons. During 2019, amortization of the NBA license agreement was based on the expected increasing usage of the rights over the license term, which is impacted by factors such as the opening of the betting market in the US and correlated user growth. The impairment test for the NBA license agreement performed at the end of 2019 which resulted in an impairment of €36.0 million indicated that the expected usage could no longer be considered as a reliable measure of the consumption of economic benefits. Therefore, with effect from January 1, 2020, the Group changed its amortization method of the NBA license agreement from an expected usage basis to a straight-line basis. Amortization expense is recorded under Depreciation and amortization in the consolidated statements of profit or loss and other comprehensive income. For changes in payments resulting from re-negotiations Internally-developed software Research costs are expensed as incurred, and development costs are only recognized as internally-developed software (internally generated intangible assets) if all recognition criteria according to IAS 38 are met. Expenses that can be directly allocated to development projects are capitalized provided that: • the completion of the intangible asset is technically feasible, • the Group has the intention to complete the intangible asset and to use or to sell it, • the intangible asset can be sold or used internally, • the intangible asset will generate future benefits in terms of new business opportunities, cost savings or economies of scale, • sufficient technical and financial resources are available to complete the development and to use or sell the intangible asset, and • expenditures can be measured reliably (refer to note 13). Direct costs include not only the personnel expenses for the development team, but also the costs for external consultants and developers. The estimated useful lives and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis. Estimated useful life in years Internally-developed software in use 3 –5 The amount initially recognized for internally-developed software is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. When no internally-developed software can be recognized, development costs are recognized in the consolidated statements of profit or loss and other comprehensive income as incurred. Subsequent to initial recognition, development costs are measured at cost less accumulated amortization and any accumulated impairment losses. Goodwill Goodwill is initially measured at cost, being the excess of the aggregate consideration transferred and the amount recognized for non-controlling Goodwill arising from acquisition of subsidiaries is subsequently measured at cost less accumulated impairment losses. Other intangible assets Other intangible assets with definite useful lives are measured at cost less accumulated amortization and any accumulated impairment losses. Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. All other expenditure is recognized in the consolidated statements of profit or loss and other comprehensive income as incurred. Generally, intangible assets are amortized on a straight-line basis over the shorter of their contractual term or their estimated useful lives. The following useful lives are applied: Intangible asset Estimated useful Acquired trademarks and brand names 5 Acquired customer bases 5 -10 Software 2 -10 Other rights 2 - 5 The amortization expense is recorded under depreciation and amortization in the consolidated statements of profit or loss and other comprehensive income. The expense of low value assets is recorded in other operating expenses. Other intangible assets with indefinite useful lives as well as goodwill are not amortized but tested for impairment annually. Impairment losses on these assets are presented as a separate line in the consolidated statements of profit or loss and other comprehensive income. |
Property and equipment | 2.10 Property and equipment Items of property and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses. Cost includes expenditures and, for qualifying assets, borrowing costs that are directly attributable to the acquisition of the item. If government grants are collected, they are deducted from the acquisition or manufacturing costs. Subsequent expenditure is capitalized only if it is probable that the future economic benefits associated with the expenditure will flow to the Group. Property and equipment are depreciated on a straight-line basis over the estimated useful life of the assets: Tangible asset Estimated useful Leasehold improvements 5 -12 Technical equipment and machines 3 -15 Other facilities and equipment 3 -15 Right-of-use 1 -12 The estimated useful lives and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis. Maintenance and repairs are expensed as incurred. Gains or losses resulting from the sale or retirement of assets are recognized in other operating income or expenses. Depreciation expense of property and equipment is recorded under depreciation and amortization in the consolidated statements of profit or loss and other comprehensive income. For further details on property and equipment refer to note 14. |
Impairment of non-financial assets | 2.11 Impairment of non-financial The Group assesses at each reporting date, whether there is a trigger that non-financial For impairment testing, assets are grouped together into the smallest group of assets that generate cash inflows from continuing use that are largely independent of the cash inflows of other assets or cash generating units (“CGU”). Goodwill arising from a business combination is allocated to the CGUs that are expected to benefit from the synergies of the business combination, irrespective of whether other assets or liabilities of the acquiree are assigned to these units. An impairment loss is recognized when an assets or CGU’s carrying amount exceeds its recoverable amount. The recoverable amount is the greater of its fair value less costs to sell and its value in use. Value in use is based on the estimated future cash flows expected to arise from the continued use of the asset or from its eventual disposal, discounted to their present value using a pre-tax If these tests result in an impairment, the relating loss is reported as a separate line in the consolidated statements of profit or loss and other comprehensive income. On the consolidated statements of financial position, impairment losses are allocated first to reduce the carrying amount of any goodwill allocated to the CGU and then to reduce the carrying amounts of the other assets in the CGU on a pro rata basis. For further details refer to note 13. If there is any indication that the considerations which led to an impairment no longer exists, the Group will consider the need to reverse all or a portion of the impairment charge except for goodwill. This reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation or amortization had no impairment loss been recognized in prior years. |
Leases | 2.12 Leases The Group as a lessee A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an asset, the Group assesses whether the contract meets three key evaluations under IFRS 16: • the contract contains an identified asset, which is either explicitly identified in the contract or implicitly specified by being identified at the time the asset is made available to the Group; • the Group has the right to obtain substantially all of the economic benefits from use of the identified asset throughout the period of use, considering its rights within the defined scope of the contract; and • the Group has the right to direct the use of the identified asset throughout the period of use. The Group assesses whether it has the right to direct how and for what purpose the asset is used throughout the period of use. Measurement and recognition of leases as a lessee At lease commencement date, the Group recognizes a right-of-use right-of-use The Group subsequently depreciates the right-of-use right-of-use At the commencement date, the Group measures the lease liability at the present value of the lease payments unpaid at that date, discounted using the interest rate implicit in the lease, if that rate is readily available, or the incremental borrowing rate. Generally, the Group uses the incremental borrowing rate (“IBR”) as the discount rate. The IBR is the rate of interest that the Group would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use Lease payments included in the measurement of the lease liability are made up of fixed payments (including in substance fixed payments), variable payments based on an index or rate, and – if applicable – amounts expected to be payable under a residual value guarantee, payments arising from options reasonably certain to be exercised and penalties for early termination of a lease unless the Group is reasonably certain not to terminate early. The lease liability is measured at amortized cost using the effective interest method. The liability is increased as a result of interest accrued on the balance outstanding and is reduced for lease payments made. It is remeasured to reflect any reassessment or modification, or if there are changes in in-substance When the lease liability is remeasured, a corresponding adjustment is made to the carrying amount of the right-of-use right-of-use On the consolidated statements of financial position, right-of-use Short-term leases and leases of low-value The Group has elected not to recognize right-of-use low-value For further details refer to note 15. |
Financial instruments | 2.13 Financial instruments Initial recognition and derecognition Trade receivables and debt securities issued are initially recognized when they originate. All other financial assets and financial liabilities are initially recognized when the Group becomes a party to the contractual provisions of the instrument. A financial asset (unless it is a trade receivable without a significant financing component) or financial liability is initially measured at fair value plus (for financial assets) or minus (for financial liabilities), for an item not at FVTPL, transaction costs that are directly attributable to its acquisition or issue. A trade receivable without a significant financing component is initially measured at the transaction price. The Group derecognizes financial assets when the contractual right to the cash flows expires or the assets are transferred, and the Group has neither retained the contractual rights to receive cash nor assumes any obligations to pay cash from the assets. Classification and measurement Financial Assets On initial recognition, a financial asset is classified as measured at: • amortized cost; • fair value through other comprehensive income (FVOCI); or • fair value through profit and loss (FVTPL). Financial assets are not reclassified subsequent to their initial recognition unless the Group changes its business model for managing financial assets, in which case all affected financial assets are reclassified on the first day of the first reporting period following the change in the business model. A financial asset is classified as an asset measured at amortized cost if it meets both of the following conditions and is not designated as at FVTPL: • it is held within a business model whose objective is to hold assets to collect contractual cash flows; and • its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. All financial assets not classified as either asset measured at amortized cost or assets measured at FVOCI are measured at FVTPL. This includes all derivative financial assets. For further information, refer to note 26. For the purpose of assessing whether contractual cash flows are solely payments of principal and interest: - “principal” is defined as the fair value of the financial asset on initial recognition; “interest” is defined as the consideration for the time value of money and for the credit risk associated with the principal amount outstanding during a particular period of time and for other basic lending risks and costs (for example liquidity risk and administrative costs), as well as a profit margin. The Group’s trade receivables and loans entitle it solely to payments of principal and interest (only loans). The Group holds all trade receivables and loans with the objective to collect the contractual cash flows. Financial assets measured at amortized cost Loans, receivables and cash accounts are subsequently measured at amortized cost using the effective interest rate method. The amortized cost is reduced by impairment losses, if any. Gains and losses are recognized in the consolidated statements of profit or loss and other comprehensive income when the asset is derecognized, modified or impaired. Cash and cash equivalents Cash comprises cash on hand and demand deposits. Cash equivalents are short-term (maximum 3 months), highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. Cash and cash equivalents include bank accounts, petty cash and cash held by the Group. Bank overdrafts are not considered under cash as they are not an integral part of the Group’s cash management. Financial assets measured at fair value through profit or loss (FVTPL) Financial assets measured at FVTPL comprise derivative financial instruments and are subsequently measured at fair value. Net gains and losses are recognized in profit or loss. Financial assets measured at fair value through other comprehensive income (FVOCI) Financial assets measured at FVOCI comprise equity investments and are subsequently measured at fair value. Net gains and losses are recognized in other comprehensive income. Financial and other liabilities The Group’s financial liabilities include borrowings, trade payables, lease liabilities and other liabilities which are financial instruments. Financial liabilities are classified as liabilities measured at amortized cost or at FVTPL. A financial liability is classified as a liability measured at FVTPL if it is a derivative or it is designated as such on initial recognition. These are measured at fair value and net gains and losses, including any interest expense, are recognized in the consolidated statements of profit or loss and other comprehensive income. Other financial liabilities are subsequently measured at amortized cost using the effective interest method. Interest expense and foreign exchange gains and losses are recognized in the consolidated statements of profit or loss and other comprehensive income. Any gain or loss on derecognition is also recognized in the consolidated statements of profit or loss and other comprehensive income. The Group derecognizes a financial liability when its contractual obligations are discharged or cancelled or expire. The Group also derecognizes a financial liability when its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. On derecognition of a financial liability, the difference between the carrying amount extinguished and the consideration paid (including any non-cash Financial assets and financial liabilities are offset, and the net amount presented in the statements of financial position when, and only when, the Group currently has a legally enforceable right to offset the amounts and it intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. Impairment for non-derivative Trade receivables and contract assets Impairment is measured based on an expected credit loss (“ECL”) model. The Group measures loss allowances for trade receivables and contract assets at an amount equal to lifetime ECLs. The Group considers a financial asset to be in default if the borrower is unlikely to pay its credit obligations to the Group in full or the financial asset is more than 90 days overdue. The Group applies a practical expedient to calculate ECLs on receivables and contract assets that do not contain a significant financing component using a provision matrix. This matrix is based on information such as delinquency status and actual credit loss experience over the last four years (on historical data) and based on current and forward-looking information on macroeconomic factors. The provision matrix is applied to all outstanding trade receivables by aging group to determine the actual ECL. The Group considered the contract assets to be current and use the same default rate as the “not overdue” trade receivables aging bucket to calculate the ECL provision. The provision matrix is not applied to financial assets which are already impaired by individual allowances. Credit-impaired financial assets At each reporting date, the Group assesses whether a financial asset carried at amortized cost is credit impaired. A financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred. The Group looks at the change in the risk of a default occurring over the expected life of the financial asset instead of a change in the ECL. The Group’s assessment uses the lifetime probability of default method. A credit loss will be calculated as the difference between the cash flows that are due in accordance with the contract/agreement and the cash flows that the Group expects to receive, discounted at the original effective interest rate of the financial instrument. Presentation of allowance for ECL in the statements of financial position The expected credit loss allowance for each type of financial asset (i.e., trade receivables) is deducted from the gross carrying amount of the assets (i.e. contra-asset). Impairment losses are shown separately on the face of the consolidated statements of profit or loss and other comprehensive income. Write-off Write-offs are recognized, when the Group has no reasonable expectations of recovering a financial asset either in its entirety or a portion thereof. The Group assesses after 180 days whether or not a trade receivable needs to be written off. |
Interests in equity-accounted investees | 2.14 Interests in equity-accounted investees Associates are those entities in which the Group has significant influence, but not control or joint control, over the financial and operating policies. A joint venture is an arrangement in which the Group has joint control, whereby the Group has rights to the net assets of the arrangement, rather than rights to the assets and obligations for the liabilities relating to the arrangement (joint operation). Interests in associates and joint ventures are accounted for using the equity method. They are initially recognized at cost, which includes transaction costs. Subsequent to initial recognition, the consolidated financial statements include the Group’s share of the profit or loss and other comprehensive income of equity-accounted investees until the date on which significant influence or joint control ceases. If there are objective indications that an investment in an equity-accounted investee is impaired, the recoverable amount is calculated on the basis of the estimated future cash flows expected to be generated by the respective entity. For further details refer to note 16. |
Ordinary shares | 2.15 Ordinary shares Ordinary shares are classified as equity since the shares are non-redeemable |
Participation certificates | 2.16 Participation certificates Participation certificates were shares without voting rights. Since they are non-redeemable |
Share-based payments | 2.17 Share-based payments Employees and directors of the Group and third parties receive remuneration in the form of share-based compensation awards. The cost of equity-settled awards is measured at fair value at the date of grant using an appropriate valuation model. The cost is recognized in personnel expenses (for employees and directors of the Group) and other expenses (for third parties) in the consolidated statements of profit or loss and other comprehensive income, respectively as an asset for goods received in case of equity grants for goods, together with a corresponding credit to additional paid-in The cumulative expense recognized for equity-settled awards at each reporting date until the vesting date reflects the Group’s best estimate of the number of equity instruments that will ultimately vest. At each statement of financial position date, the Group revises its estimate of the number of equity instruments expected to vest as a result of the effect of non-market-based For further details on share-based payments refer to note 31. |
Post-employment benefit plans | 2.18 Post-employment benefit plans Defined benefit plans The Group’s net obligation or asset in respect of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future benefit that employees have earned in the current and prior periods using interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension obligation. Remeasurements of the net defined benefit obligation, comprising actuarial gains and losses, the return on plan assets (excluding interest) and the effect of the asset ceiling (if any, excluding interest), are recognized directly in other comprehensive income. Service costs comprising current service costs, past-service costs, and gains and losses on curtailment are recognized in the period they are incurred as an expense (income) under personnel expenses in the consolidated statements of profit or loss and other comprehensive income. The Group recognizes gains and losses on settlement of a defined benefit plan as an expense (income) under personnel expenses when the settlement occurs. The net interest expense or income is recognized in other financial expense (income). Past service costs represent change in a defined benefit obligation for employee service in prior periods, arising as a result of changes to plan arrangements in the current period. The recognition of past service costs occurs at the earlier of the following dates: • When the plan amendment or curtailment occurs; and • When Group recognizes any termination benefits, or related restructuring costs under IAS 37. The Group determines the net interest expense (income) by applying the discount rate used to measure the defined benefit obligation at the beginning of the annual period to the then-net Defined contribution plans The contributions to defined contribution plans are recognized as an expense as the related service is provided. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in future payments is available. For further details on post-employment benefit plans refer to note 22. |
Provisions | 2.19 Provisions Provisions are recognized when the Group has a present legal or constructive obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. For further details refer to note 24. |
Earnings per share | 2.20 Earnings per share Basic earnings available to ordinary shareholders per share is computed based on the weighted average number of ordinary shares outstanding during the period. For further details refer to note 12. For diluted earnings per share, the weighted average number of ordinary shares in issue, net of treasury shares, is adjusted to assume conversion of all dilutive potential ordinary shares. At present these include share awards granted to employees and non-employees. |
Segment reporting | 2.21 Segment reporting The Group has applied the criteria set by IFRS 8 Operating segments |
General information (Tables)
General information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Schedule of Effect of Reorganization on Components of Equity | The resulting difference was recognized as a component of equity as follows: Capital and reserves Class A Class B Shares Particip. Reorganization transactions 180,341,159 903,670,701 (344,611 ) (158,709 ) Capital and reserves expressed in Ordinary Share Treasury Additional paid in Particip. Reorganization transactions 24,890 (302 ) 624 (125,136 ) (164 ) |
Schedule of Reconciliation Finance Costs and Finance Income | Reconciliation in €‘000 2019 2020 Finance costs Accrued interest on license fee payables 7,613 6,772 Interest on loans and borrowings 5,791 9,864 Other interest expense 35 22 Other finance costs Foreign exchange losses 14,646 19,410 Other finance costs 23 — Total for the period 28,108 36,068 Less Foreign exchange losses (14,646 ) (19,410 ) Total for the period after presentation change 13,462 16,658 Reconciliation in €‘000 2019 2020 Finance income Interest income 4,236 6,661 Foreign exchange gains 13,111 33,216 Other financial income 98 1,856 Total for the period 17,445 41,733 Less Foreign exchange gains (13,111 ) (33,216 ) Total for the period after presentation change (Note 9) 4,334 8,517 |
Significant accounting polici_3
Significant accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of Revised Standards and Interpretations Are Issued But Are Not Yet Effective | The following new and revised standards and interpretations are issued but are not yet effective and were not early adopted by the Group in preparing these consolidated financial statements. Standard or interpretation Effective date Planned Amendments to IFRS 3: References to Conceptual Framework January 1, 2022 2022 Amendments to IAS 37: Onerous contracts – Cost of fulfilling a contract January 1, 2022 2022 Amendments to IAS 16: Property, Plant and Equipment: Proceeds before Intended Use January 1, 2022 2022 Annual Improvements to IFRS Standards 2018 — 2020 January 1, 2022 2022 Amendments to IAS 1: Classification of Liabilities as Current or Non-current January 1, 2023 2023 IFRS 17 and amendments to IFRS 17: Insurance Contracts January 1, 2023 2023 Amendments to IAS 8: Definition of Accounting Estimates January 1, 2023 2023 Amendments to IAS 12: Deferred Tax related to Assets and Liabilities arising from a Single Transaction January 1, 2023 2023 Amendments to IAS 1 and IFRS Practice Statement 2: Disclosure of Accounting Policies January 1, 2023 2023 Amendments to IFRS 10 and IAS 28 : Sale or Contribution of Assets between an Investor and its Associate or Joint Venture Deferred indefinitely — |
Summary of The Estimated Useful Lives and Depreciation Method | The estimated useful lives and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis. Estimated useful life in years Internally-developed software in use 3 –5 |
Summary of Intangible Assets Are Amortized On A Straight Line Basis | The following useful lives are applied: Intangible asset Estimated useful Acquired trademarks and brand names 5 Acquired customer bases 5 -10 Software 2 -10 Other rights 2 - 5 |
Summary of Property and Equipment Are Depreciated On A Straight Line Basis Over The Estimated Useful Life of The Assets | Property and equipment are depreciated on a straight-line basis over the estimated useful life of the assets: Tangible asset Estimated useful Leasehold improvements 5 -12 Technical equipment and machines 3 -15 Other facilities and equipment 3 -15 Right-of-use 1 -12 |
Business combinations (Tables)
Business combinations (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Optima [Member] | |
Statements [Line Items] | |
Summary of Fair Values of the Identifiable Assets and Liabilities | The fair values of the identifiable assets and liabilities of Optima as of the date of acquisition were: in €‘000 December 17, Technology 5,692 Customer base 8,936 Other intangibles 566 Property and equipment 1,586 Trade receivables 1,623 Inventory 258 Other assets 390 Cash 2,417 Finance liabilities (976 ) Current liabilities (2,462 ) Non-current (712 ) Deferred tax liability, net (3,874 ) Net assets acquired 13,444 Goodwill 13,952 Consideration transferred 27,396 |
Summary of Cash flows arising from the Acquisition | The cashflows arising from the acquisition of Optima in 2019 were as follows: in €‘000 Cash consideration paid for acquisition of subsidiary (11,334 ) Cash acquired with the subsidiary 2,417 (Included in cash flows from investing activities) (8,917 ) Transaction costs of the acquisition (included in cash flows from operating activities) (615 ) Net cashflow on acquisition of subsidiary (9,532 ) |
Fresh Eight Limited [Member] | |
Statements [Line Items] | |
Summary of Fair Values of the Identifiable Assets and Liabilities | The fair values of the identifiable assets and liabilities of Fresh 8 as of the date of acquisition are as follows: in €‘000 March 2, 2021 Customer base 4,863 Technology 3,402 Property and equipment 69 Trade receivables 377 Contract assets and other assets 176 Cash 152 Current liabilities (327 ) Deferred tax liability, net (1,570 ) Net assets acquired 7,142 Goodwill 13,168 Consideration transferred 20,310 |
Summary of Cash flows arising from the Acquisition | The cashflows arising from the acquisition of Fresh 8 in 2021 were as follows: in €‘000 Cash consideration paid for acquisition of subsidiary (12,063 ) Cash acquired with the subsidiary 152 Net cash paid for acquisition (included in cash used in investing activities) (11,911 ) Transaction costs of the acquisition (included in cash from operating activities) (439 ) Net cash outflow on acquisition of subsidiary (12,350 ) |
Atrium Sports Inc [Member] | |
Statements [Line Items] | |
Summary of Fair Values of the Identifiable Assets and Liabilities | The fair values of the identifiable assets and liabilities of Atrium as of the date of acquisition are as follows: in €‘000 May 6, 2021 Customer base 16,477 Brand 1,679 Technology 56,540 Property and equipment 3,537 Trade receivables 1,974 Contract assets and other assets 3,899 Cash 1,087 Current liabilities (10,567 ) Non-current (1,253 ) Deferred tax liability, net (15,605 ) Net assets acquired 57,768 Goodwill 134,451 Consideration transferred 192,219 |
Summary of Cash flows arising from the Acquisition | The cashflows arising from the acquisition of Atrium in 2021 were as follows: in €‘000 Cash consideration paid for acquisition of subsidiary (183,043 ) Cash acquired with the subsidiary 1,087 Net cash paid for acquisition (included in cash used in investing activities) (181,956 ) Transaction costs of the acquisition (included in cash from operating activities) (3,900 ) Net cash outflow on acquisition of subsidiary (185,856 ) |
Interact Sport Pty Ltd [Member] | |
Statements [Line Items] | |
Summary of Fair Values of the Identifiable Assets and Liabilities | The fair values of the identifiable assets and liabilities of Interact as of the date of acquisition are as follows: in €‘000 June 9, 2021 Customer base 793 Technology 966 Brand 73 Trade receivables 222 Contract assets and other assets 359 Cash 107 Current liabilities (435 ) Deferred tax liability, net (550 ) Net assets acquired 1,535 Goodwill 3,606 Consideration transferred 5,141 |
Summary of Cash flows arising from the Acquisition | The cashflows arising from the acquisition of Interact in 2021 were as follows: in €‘000 Cash consideration paid for acquisition of subsidiary (4,671 ) Cash acquired with the subsidiary 107 Net cash paid for acquisition (included in cash used in investing activities) (4,564 ) Transaction costs of the acquisition (included in cash from operating activities) (154 ) Net cash outflow on acquisition of subsidiary (4,718 ) |
Revenue from contracts with c_2
Revenue from contracts with customers (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of Disaggregation of Revenue From Contracts With Customers | in €‘000 2019 2020 2021 Betting data / Betting entertainment tools 176,041 170,044 214,034 Managed Betting Services (“MBS”) 34,068 46,604 79,966 Virtual Gaming and E-Sports 14,625 18,343 15,357 Betting revenue 224,734 234,991 309,357 Betting AV revenue 102,740 105,892 140,162 Other revenue 30,060 29,634 39,983 Rest of the World revenue 357,534 370,517 489,502 Media and Ad`s revenue 19,026 21,041 33,796 Betting data 3,595 9,791 15,150 Betting AV 248 3,575 5,166 Sports Solutions — — 17,588 United States revenue 22,869 34,407 71,700 Total Revenue 380,403 404,924 561,202 |
Segmental information (Tables)
Segmental information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of Segment Adjusted EBITDA Represents Adjusted EBITDA Excluding Unallocated Corporate Expenses | Year Ended December 31, 2019 in €‘000 RoW RoW United Total All other Total Segment revenue 224,734 102,740 22,869 350,343 30,060 380,403 Segment Adjusted EBITDA 129,233 25,724 (40,095 ) 114,862 (1,516 ) 113,346 Amortization of sport rights (14,199 ) (48,874 ) (30,820 ) (93,893 ) — (93,893 ) Year Ended December 31, 2020 in €‘000 RoW RoW United Total All other Total Segment revenue 234,991 105,892 34,407 375,290 29,634 404,924 Segment Adjusted EBITDA 118,676 26,759 (16,373 ) 129,062 (1,383 ) 127,679 Amortization of sport rights (10,933 ) (45,413 ) (24,262 ) (80,608 ) — (80,608 ) Year Ended December 31, 2021 in €‘000 RoW RoW United Total All other Total Segment revenue 309,357 140,162 71,700 521,219 39,983 561,202 Segment Adjusted EBITDA 176,987 39,246 (22,625 ) 193,608 (5,746 ) 187,862 Amortization of sport rights (16,101 ) (56,266 ) (21,946 ) (94,312 ) — (94,312 ) |
Summary of Reconciliations of Segment Reporting Information | Reconciliations of information on reportable segments to the amounts reported in the financial statements: December 31 in €‘000 2019 2020 2021 Segment Adjusted EBITDA 113,346 127,679 187,862 Unallocated corporate expenses (1) (50,153 ) (50,811 ) (85,849 ) Share based compensation — (2,327 ) (15,431 ) Foreign currency gains (losses), net (1,535 ) 13,806 5,437 Finance income 4,334 8,517 5,297 Finance costs (13,462 ) (16,658 ) (32,540 ) Impairment of intangibles assets (39,482 ) (26,184 ) — Depreciation and amortization (112,803 ) (106,229 ) (129,375 ) Amortization of sport rights 93,893 80,608 94,312 Loss from loss of control of subsidiary (2,825 ) — — Impairment of equity-accounted investee — (4,578 ) — Impairment loss on other financial assets (1,558 ) (1,698 ) (5,889 ) Net income (loss) before tax (10,245 ) 22,125 23,824 1) Unallocated corporate expenses primarily consists of salaries and wages for management, legal, human resources, finance, office, technology and other costs not allocated to the segments. |
Summary of Segment Reporting Information by Geographical areas | Revenue Years Ended December 31, in €‘000 2019 2020 2021 United Kingdom 61,495 58,387 68,688 Malta 49,101 52,674 70,529 US 22,126 30,619 67,093 Switzerland 6,100 5,013 7,397 Other countries *) 241,581 258,231 347,495 Total 380,403 404,924 561,202 *) No individual country represented more than 10% of the total. Non-current December 31, in €‘000 2020 2021 Switzerland 279,352 515,060 Germany 65,136 62,822 United States 12,879 235,935 Other countries *) 32,569 76,933 Total 389,936 890,750 *) No individual country represented more than 10% of the total. |
Purchased services and licens_2
Purchased services and licenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary Of Purchased Services And Licenses | Years Ended December 31, in €‘000 2019 2020 2021 Non-capitalized 18,194 46,804 48,324 Data journalist and freelancer fees 15,991 15,728 16,225 Production costs 13,811 9,880 17,188 Variable service fees 5,755 4,016 6,829 Sales agents 2,095 1,786 3,924 Consultancy fees 2,855 1,316 9,930 Optima platform and consultancy fees — 2,605 2,370 Ads costs and operational fees 1,233 4,147 9,861 Other costs 1,461 3,025 4,775 Total 61,395 89,307 119,426 |
Other operating expenses (Table
Other operating expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary Of Other Operating Expenses | Years Ended December 31, in €‘000 2019 2020 2021 Legal and other consulting expenses 16,680 15,899 46,886 Telecommunication and IT expenses 7,334 8,023 12,523 Software-as-a 3,613 5,101 9,482 Marketing expenses 6,634 3,469 5,341 Travel expenses 5,545 1,338 1,803 Insurance 306 351 4,961 Office expenses 3,864 3,020 3,028 Other costs 2,751 4,138 3,284 Total 46,727 41,339 87,308 |
Foreign currency gains (losse_2
Foreign currency gains (losses), net (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary Of Foreign Currency Gains (Losses), Net | Years Ended December 31, in €‘000 2019 2020 2021 Foreign currency gains 13,111 33,216 39,720 Foreign currency losses (14,646 ) (19,410 ) (34,283 ) Total (1,535 ) 13,806 5,437 |
Finance income (Tables)
Finance income (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary Of Finance Income | Years Ended December 31, in €‘000 2019 2020 2021 Interest income 4,236 6,661 5,179 Other finance income 98 1,856 118 Total 4,334 8,517 5,297 |
Finance costs (Tables)
Finance costs (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary Of Financial Costs | Years Ended December 31, in €‘000 2019 2020 2021 Interest expense Accrued interest on license fee payables 7,613 6,772 10,071 Interest on loans and borrowings 5,791 9,864 22,160 Other interest expense 35 22 93 Other finance costs Other finance costs 23 — 216 Total 13,462 16,658 32,540 |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary Of Major Components Of Tax Expense (Income) | The following income taxes are recognized in profit or loss: Income taxes Years Ended December 31, in €‘000 2019 2020 2021 Current tax expense: Current year 1,477 2,746 12,564 Changes in estimates related to prior years 4,450 1,077 2,051 Deferred tax expense: Origination and reversal of temporary differences (30,130 ) 3,700 1,567 Impact of changes in tax rates 3,973 — — Recognition of previously unrecognized deferred tax assets (1,680 ) (204 ) (5,145 ) Income tax (benefit) expense reported in profit or loss (21,910 ) 7,319 11,037 |
Summary Of Reconciliation Of Changes In Deferred Tax Liability (Asset) | The reconciliation of the changes in the net deferred tax asset recognized in the consolidated statement of financial position, net: in €‘000 2020 2021 Net deferred tax / asset as of January 1, 20,122 16,564 Additions from business combinations — (17,725 ) Recognized in other comprehensive income 136 202 Recognized in profit or loss (3,496 ) 3,577 Foreign currency translation adjustment (198 ) (1,188 ) Net deferred tax asset as of December 31, 16,564 1,430 |
Summary Of Deferred Tax Assets And Liabilities | The deferred tax assets and liabilities relate to the following items: December 31, 2020 2021 in €‘000 Consolidated Consolidated Consolidated Consolidated Other assets and prepayments 3,756 1,436 4,644 (337 ) Intangible assets (8,493 ) (4,071 ) (19,114 ) 8,769 Trade and other payables 1,536 205 4,637 2,410 Tax loss carry-forward 3,362 (715 ) 2,887 (475 ) Tax step-up 17,000 — 15,600 (1,400 ) Other assets non-current — — (5,119 ) (5,119 ) Other (597 ) (351 ) (2,105 ) (271 ) Deferred tax income (3,496 ) 3,577 Net deferred tax asset 16,564 1,430 Reflected in the consolidated statements of financial position as follows: Deferred tax assets 22,218 26,908 Deferred tax liabilities (5,654 ) (25,478 ) Deferred tax assets, net 16,564 1,430 |
Summary Of Reconciliation Of Income Tax Expense Calculated At Statutory Rate And Recognized In Profit Or Loss Explanatory | The differences between the income tax expense calculated by the applicable tax rate and the effective income tax are as follows: Years Ended December 31, in €‘000 2019 2020 2021 Net income (loss) before tax (10,245 ) 22,125 23,824 Applicable tax rate 9.0 % 14.5 % 14.5 % Tax benefit (expense) applying the Company tax rate 922 (3,208 ) (3,454 ) Effect of tax losses and tax offsets not recognized as deferred tax assets 2,613 744 (6,327 ) Effect on recognition of deferred tax assets, on previous unused tax losses and tax offsets 1,680 204 5,145 Changes in estimates related to prior years (4,450 ) (1,077 ) (2,051 ) Effect of non-deductible (147 ) (4,527 ) (4,132 ) Effect of difference to the Group tax rate 610 935 555 Effects of changes in tax rate (deferred tax rate) 3,973 — — Other effects (291 ) (389 ) (773 ) Tax step up 17,000 — — Income tax benefit (expense) 21,910 (7,319 ) (11,037 ) Effective tax rate 213.9 % 33.1 % 46.3 % |
Summary Of Tax Loss Carryforwards That Are Not Recognized As Deferred Tax Assets | The periods in which the tax loss carryforwards that are not recognized as deferred tax assets may be used are as follows: Periods in which tax loss carry-forwards not recognized as deferred tax December 31, in €‘000 2020 2021 Unlimited 7,272 64,797 will expire within 5 years 16,052 17,169 will expire thereafter 1,612 2,133,690 |
Earnings per share (EPS) (Table
Earnings per share (EPS) (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Earnings per share [abstract] | |
Summary of Earnings per Share (EPS) | The following table reflects the income data used in the basic and diluted EPS calculations: Years Ended December 31, in €‘000 2019 2020 2021 Profit attributable 7,777 10,104 8,744 Profit attributable 3,957 5,141 3,825 Profit attributable to owners of the Company (basic and diluted) 11,734 15,245 12,569 The following table reflects the share data used for the weighted-average number of Class B shares (basic and diluted): Years Ended December 31, in thousands of shares 2019 2020 2021 Issued Class B shares at January 1 903,671 903,671 903,671 Weighted-average number of Class B shares at December 31 (basic and diluted) 903,671 903,671 903,671 The following table reflects the share data used for the weighted-average number of Class A shares (basic): Years Ended December 31, in thousands of shares 2019 2020 2021 Issued Class A shares at January 1 163,566 177,627 177,627 Effect of share options exercised — — 19 Effect of shares issued 8,614 — 7,890 Effect of shares issued related to a business combination — — 1,133 Weighted-average number of Class A shares at December 31 172,180 177,627 186,670 The following table reflects the share data used for the weighted-average number of Class A shares (diluted): Years Ended December 31, in thousands of shares 2019 2020 2021 Weighted-average number of Class A shares at December 31 (basic) 172,180 177,627 186,670 Effect of RSU`s on issue — — 454 Effect of warrants — — 1,549 Weighted-average number of Class A shares at December 31 172,180 177,627 188,673 |
Intangible assets and goodwill
Intangible assets and goodwill (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of Intangible and Goodwill | Cost in €‘000 Brand Customer Licenses Software Internally- Goodwill Total Balance as of January 1, 2020 7,100 44,766 551,614 18,189 30,248 97,187 749,104 Additions — — 64,923 26 6,093 — 71,042 Disposals (1 ) — (51,535 ) 2) (1,101 ) — — (52,637 ) Disposal due to reduction in service potential — — (17,549 ) — — — (17,549 ) Translation adjustments (41 ) (7 ) (1,042 ) (236 ) (78 ) (1,091 ) (2,495 ) Balance as of December 31, 2020 7,058 44,759 546,411 16,878 36,263 96,096 747,465 Additions — — 324,234 1,032 11,794 — 337,060 Additions through business combinations 1,767 22,134 5 60,918 — 151,225 236,049 Disposals — — (172,042 ) (6 ) — — (172,048 ) Disposal due to reduction in service potential — — (9,132 ) — — — (9,132 ) Translation adjustments 168 1,380 869 4,623 69 11,672 18,781 Balance as of December 31, 2021 8,993 68,273 690,345 83,445 48,126 258,993 1,158,175 Amortization and impairment in €‘000 Balance as of January 1, 2020 (5,847 ) (19,646 ) (280,966 ) (12,122 ) (9,726 ) — (328,307 ) Additions (204 ) (3,528 ) (87,248 ) 1) (1,724 ) (3,758 ) — (96,462 ) Impairment — — (15,789 ) — — (10,395 ) (26,184 ) Disposals 1 — 47,345 2) 1,101 — — 48,447 Translation adjustments 41 6 522 135 — 406 1,110 Balance as of December 31, 2020 (6,009 ) (23,168 ) (336,136 ) (12,610 ) (13,484 ) (9,989 ) (401,396 ) Additions (396 ) (5,012 ) (100,601 ) 1) (6,048 ) (6,991 ) — (119,048 ) Impairment — — — — — — — Disposals — — 172,042 6 188 — 172,236 Translation adjustments (37 ) (26 ) (441 ) (169 ) 30 (852 ) (1,495 ) Balance as of December 31, 2021 (6,442 ) (28,206 ) (265,136 ) (18,821 ) (20,257 ) (10,841 ) (349,703 ) Carrying amount As of December 31, 2020 1,049 21,591 210,275 4,268 22,779 86,107 346,069 As of December 31, 2021 2,551 40,067 425,209 64,624 27,869 248,152 808,472 1) Includes € 80,608 94,312 2) Disposals in 2020 primarily relates to the disposal of fully amortized licenses (€ 47,340 4,190 |
Summary of Carrying Amount of Goodwill to the Respective CGUs and the Key Assumptions Used in Estimation of the Recoverable Amount | Allocation of the carrying amount of goodwill to the respective CGUs and the key assumptions used in estimation of the recoverable amount are as follows: Goodwill per CGU in €‘000 RoW Betting RoW Betting AV RoW United Optima Goodwill as of January 1, 2020 15,528 44,001 12,772 10,935 13,952 Impairment — — — (10,395 ) — Reclassification 13,952 — — — (13,952 ) Foreign currency translation effect (145 ) — — (540 ) — Goodwill as of December 31, 2020 29,335 44,001 12,772 — — Acquisition — 57,814 4,659 88,752 — Foreign currency translation effect 117 4,481 72 6,148 — Goodwill as of December 31, 2021 29,452 106,296 17,504 94,900 — Key assumptions used As of December 31, 2020: Terminal value growth rate 2.0 % 2.0 % 2.0 % — Budgeted EBITDA margin 1 45.1 % 16.8 % 21.3 % — Discount rate —WACC (before taxes) 10.5 % 10.4 % 10.3 % — As of December 31, 2021: Terminal value growth rate 2.0 % 2.0 % 2.0 % 2.0 % Budgeted EBITDA margin 1 39.8 % 15.3 % 22.10 % 23.2 % Discount rate —WACC (before taxes) 8.6 % 8.6 % 11.2 % 11.1 % 1 The budgeted EBITDA margin for the RoW Betting CGUs represents an average margin, whereas the budgeted EBITDA margin for the RoW Other and United States CGUs represents the assumption for the last year of the budget period. |
Property and equipment (Tables)
Property and equipment (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of the Estimated Useful Lives and Depreciation Method | Property and equipment Cost in €‘000 Land and Other facilities and equipment Work in Progress Total Balance as of January 1, 2020 38,227 19,339 698 58,264 Additions 5,374 1,872 320 7,566 Disposals (1,347 ) (1,689 ) — (3,036 ) Reclassification 1,031 — (1,031 ) — Translation adjustments (2,199 ) (454 ) 16 (2,637 ) Balance as of December 31, 2020 41,086 19,068 3 60,157 Additions 2,961 5,807 23 8,791 Additions through business combinations 433 3,356 — 3,789 Disposals (2,325 ) (398 ) (8 ) (2,731 ) Translation adjustments 1,569 514 1 2,084 Balance as of December 31, 2021 43,724 28,347 19 72,090 Accumulated depreciation in €‘000 Balance as of January 1, 2020 (6,989 ) (12,346 ) — (19,335 ) Additions (6,763 ) (3,004 ) — (9,767 ) Disposals 532 1,627 — 2,159 Translation adjustments 495 274 — 769 Balance as of December 31, 2020 (12,725 ) (13,449 ) — (26,174 ) Additions (6,266 ) (4,061 ) — (10,327 ) Disposals 964 192 — 1,156 Translation adjustments (478 ) (344 ) — (822 ) Balance as of December 31, 2021 (18,505 ) (17,662 ) — (36,167 ) Carrying amount As of December 31, 2020 28,361 5,619 3 33,983 As of December 31, 2021 25,219 10,685 19 35,923 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary Of Detailed Information About Lease Amounts Recognized In Statements Of Cash Flows | Rights-of-use December 31, in €‘000 2020 2021 Right-of-use Land and buildings 25,513 22,905 Other facilities and equipment 100 132 Lease liabilities – Loans and borrowings Current 7,593 6,013 Non-current 19,985 17,885 |
Summary of Detailed information about Reconciliation of Right of Use Assets | Additional information on the significant right of use assets by class of assets and the movements during the period are as follows: Office buildings in €‘000 2020 2021 Balance as of January 1, 27,968 25,513 Depreciation charge for the year (5,256 ) (5,539 ) Additions / business combinations 5,523 3,275 Derecognition due to lease termination (1,356 ) (1,301 ) Foreign currency effects (1,366 ) 957 Balance as of December 31, 25,513 22,905 |
Summary of Detailed information about Reconciliation of Lease Liabilities | Set out below are the carrying amounts of lease liabilities and the movements during the period: in €‘000 2020 2021 Balance as of January 1, 28,845 27,578 Additions to lease liabilities 5,579 2,835 Accretion of interest 765 324 Payments (3,817 ) (7,118 ) Additions from business combinations — 433 Rent concessions (408 ) (59 ) Derecognition due to lease termination (1,711 ) (1,400 ) Foreign currency effects (1,675 ) 1,305 Balance as of December 31, 27,578 23,898 Current 7,593 6,013 Non-current 19,985 17,885 |
Summary of Detailed information about Lease Amounts Recognized in Profit or Loss | Years Ended December 31, in €‘000 2019 2020 2021 Interest on lease liabilities 671 765 324 Depreciation 4,842 5,342 5,569 Income from sub-leasing right-of-use (7 ) (21 ) (33 ) Expenses relating to short-term leases *) 798 360 547 Expenses relating to low-value 20 19 8 Rent concessions — (408 ) (59 ) Total amount recognized in profit or loss 6,324 6,057 6,356 *) The Group has elected not to recognize a lease liability for short term leases (leases with an expected term of 12 months or less) or for leases of low value assets. Payments made under such leases are expensed on a straight-line basis. |
Summary of Detailed information about Lease Amounts Recognized in Statements of Cash Flows | Total cash outflow for leases for the years ended December 31, 2019, 2020 and 2021 are as follows: Years Ended December 31, in €‘000 2019 2020 2021 Operating activities - cash outflow for leases -Short-term and low-value 818 379 555 -Interest paid on lease liabilities 671 765 324 Financing activities – Principal payment on lease liabilities 5,088 3,817 7,118 Total cash outflow for leases 6,577 4,961 7,997 |
Other financial assets and ot_2
Other financial assets and other non-current assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of Detailed Information About Other Financial Assets and Other Noncurrent Assets | December 31, in €‘000 2020 2021 Unpaid contribution of capital 79,343 — Loans receivable (net of expected credit loss) 4,463 1,201 Deposits 1,228 1,855 Equity investment — 2,605 Other financial assets 10,021 365 Prepayment non-current — 35,305 Total 95,055 41,331 |
Summary of the Composition and Movements of Loans Receivable | The following table displays the composition and movements of loans receivable. Composition and movements of loan receivables in €‘000 Loans non-current Loans current Total Balance as of January 1, 2020 3,882 696 4,578 Collection of loans receivable (454 ) — (454 ) Issuance of loans receivable 2,687 — 2,687 Interest 66 202 268 Impairment (1,496 ) (202 ) (1,698 ) Others (222 ) (12 ) (234 ) Balance as of December 31, 2020 4,463 684 5,147 Collection of loans receivable — (265 ) (265 ) Issuance of loans receivable 2,122 148 2,270 Interest 251 24 275 Impairment (5,889 ) — (5,889 ) Others 254 (24 ) 230 Balance as of December 31, 2021 1,201 567 1,768 |
Summary of the provision for Expected Credit Losses | The movements specifically in the provision for Expected Credit Losses (“ECLs”) are as follows: Provision for expected Credit Losses in €‘000 2020 2021 Balance as of January 1, (6,758 ) (8,456 ) Impairment (1,698 ) (5,889 ) Balance as of December 31, (8,456 ) (14,345 ) |
Trade receivables and contrac_2
Trade receivables and contract assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of financial assets [abstract] | |
Summary of Financial Assets | Trade receivables December 31, in €‘000 2020 2021 Trade receivables 27,646 36,347 Trade receivable from associates 648 1,786 Allowance for expected credit losses (4,482 ) (4,190 ) Total 23,812 33,943 Contract assets December 31, in €‘000 2020 2021 Contract assets 23,890 40,800 Allowance for expected credit losses (115 ) (183 ) Total 23,775 40,617 |
Summary of Expected Credit Losses for Trade Receivables and Contract Assets | The movement in the allowance for ECL in respect of trade receivables and contract assets during the year are as follows: in €‘000 2020 2021 Balance as of January 1, (3,194 ) (4,597 ) Provision for expected credit losses (2,947 ) (288 ) Net amounts written off / recovered 1,544 512 Balance as of December 31, (4,597 ) (4,373 ) |
Other assets and prepayments (T
Other assets and prepayments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclsoure of Other assets and prepayments [Abstract] | |
Summary of Other assets and prepayments | Other assets and prepayments are comprised of the following items: Other assets and prepayments December 31, in €‘000 2020 2021 Prepaid expenses 11,396 20,111 Other financial assets 2,093 4,684 Taxes and fees 568 1,580 Other 961 4,786 Total 15,018 31,161 |
Capital and reserves (Tables)
Capital and reserves (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of classes of share capital [abstract] | |
Summary of Capital and Reserves | Capital and reserves in number of shares Class A ordinary Class B Shares Participation Equity instruments as of January 1, 2021 and as of December 31, 2020 — — 344,611 155,389 Issued during the year before the IPO — — — 3,320 Reorganization transactions 180,314,159 903,670,701 (344,611 ) (158,709 ) Issued during the year during and subsequent to the IPO 26,257,358 — — — Equity instruments as of December 31, 2021 206,571,517 903,670,701 — — |
Loans and borrowings (Tables)
Loans and borrowings (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Statements [Line Items] | |
Summary of Loans and Borrowings | Loans and borrowings December 31, in €‘000 2020 2021 Current portion of loans and borrowings Bank loans 447 73 Lease liabilities (Note 13) 7,593 6,013 8,040 6,086 Non - Current portion of loans and borrowings Bank loans 410,654 411,379 Lease liabilities (Note 13) 19,985 17,885 430,639 429,264 Total 438,679 435,350 |
Summary of Senior Secured Net Leverage Ratio on Excess Cash Flow | The Senior Facilities also provides that at the end of each financial year, the Group is required to make prepayments of a percentage of Excess Cash Flow, depending on the Senior Secured Net Leverage Ratio, in the amounts set out below: Senior Secured Net Leverage Ratio Excess Cash Flow prepayment percentage Greater than 5.00:1 50% Equal to or less than 5.00:1 but greater than 4.50:1 25% Equal to or less than 4.50:1 0% |
Summary of Bank Loans and Bank Overdrafts | The movements in bank loans and bank overdrafts are as follows: Financial debt movements and change in bank overdrafts in €‘000 Loans non-current Loans current Overdrafts Total Balance as of January 1, 2020 120,628 10,169 380 131,177 Proceeds from loans and borrowings 421,061 40,996 — 462,057 Transaction costs related to borrowings (11,160 ) — — (11,160 ) Payment of loans and borrowings (115,000 ) (55,838 ) (285 ) (171,123 ) Transfers (5,000 ) 5,000 — — Amortization of borrowing costs 125 — — 125 Foreign currency rate adjustment — 25 — 25 Balance as of December 31, 2020 410,654 352 95 411,101 Addition from business combination 1,475 — — 1,475 Payment of loans and borrowings (2,024 ) (352 ) (22 ) (2,398 ) Amortization of borrowing costs 1,232 — — 1,232 Foreign currency rate adjustment 42 — — 42 Balance as of December 31, 2021 411,379 — 73 411,452 |
Senior Facilities Agreement [Member] | Senior Secured Term Loan Facility [Member] | |
Statements [Line Items] | |
Summary of Senior Secured Net Leverage Ratio | Borrowings under facility B bear interest at an annual rate equal to EURIBOR plus a 4.25% margin and as from October 1, 2021 are subject to a margin as set out below: Senior Secured Net Leverage Ratio Facility B Margin (% per annum) Greater than 4.50:1.00 4.25 Greater than 4.00:1.00 but equal to or less than 4.50:1.00 4.00 Greater than 3.50:1.00 but equal to or less than 4.00:1.00 3.75 Equal to or less than 3.50:1.00 3.50 |
Senior Facilities Agreement [Member] | Multicurrency Revolving Credit Facility [Member] | |
Statements [Line Items] | |
Summary of Senior Secured Net Leverage Ratio | Borrowings under the RCF bear interest at an annual rate of EURIBOR plus a 3.75% margin and as from October 1, 2021 are subject to a margin as set out below: Senior Secured Net Leverage Ratio RCF Margin (% per annum) Greater than 4.50:1.00 3.75 Greater than 4.00:1.00 but equal to or less than 4.50:1.00 3.50 Greater than 3.50:1.00 but equal to or less than 4.00:1.00 3.25 Greater than 3.00:1.00 but equal to or less than 3.50:1.00 3.00 Equal to or less than 3.00:1.00 2.75 |
Employee benefits (Tables)
Employee benefits (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of Defined Benefit Pension Plans | The amounts recognized in the financial statements for the defined benefit pension plans as of December 31, 2020 and 2021 are as follows: Employee defined benefit liabilities December 31, in €‘000 2020 2021 Defined benefit obligation 11,860 11,456 Fair value of plan assets (8,072 ) (9,365 ) Net defined benefit liability 3,788 2,091 |
Summary of Defined Benefit Obligation and Plan Assets | The net defined benefit liability is included in other non-current The movements in the defined benefit obligation and the plan assets are as follows: Movement in the defined benefit obligations in €‘000 2020 2021 Defined benefit obligation as of January 1, 10,495 11,860 Interest expense on defined benefit obligation 20 17 Current service cost 577 799 Contributions by plan participants 280 287 Benefits deposited (180 ) (483 ) Past service cost — (782 ) Administration cost (excl. cost for managing plan assets) 5 5 Actuarial (gain) loss on defined benefit obligation 606 (604 ) Exchange rate loss 57 357 Defined benefit obligation as of December 31, 11,860 11,456 The defined benefit obligations relate to four plans: Switzerland (2020: €11.2 million; 2021: €10.7 million), Austria (2020: €0.5 million; 2021: €0.5 million), Slovenia (2020: €0.1 million; 2021: €0.1 million ) and Philippines (2020: €0.1 million; 2021: €0.2 million ). Fair value of plan assets in €‘000 2020 2021 Fair value of plan assets as of January 1, 7,876 8,072 Interest income on plan assets 12 11 Contributions by the employer 352 360 Contributions by plan participants 280 287 Benefits paid (180 ) (483 ) Return on plan assets excl. interest income (320 ) 796 EUR/ CHF exchange rate gain 52 322 Fair value of plan assets as of December 31, 8,072 9,365 |
Trade payables (Tables)
Trade payables (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of Trade Payables | The following table represents trade payables: Trade payables December 31, in €‘000 2020 2021 License fee payables for capitalized sports data rights – non-current 144,651 316,576 Other trade payables – non-current 1,506 3,852 Trade payables non-current 146,157 320,428 License fee payables for capitalized sports data rights – current 94,574 124,789 Other trade payables and accrued expenses – current 36,895 25,223 Trade payables current 131,469 150,012 Total 277,626 470,440 |
Other liabilities (Tables)
Other liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of Other Liabilities Explanatory | Other liabilities - current: December 31, in €‘000 2020 2021 Other financial liabilities: Deferred and contingent consideration 7,243 11,829 Due to third parties 4,984 6,319 Other non-financial Payroll liabilities 14,041 24,550 Taxes and fees 9,384 8,171 Provisions 1,947 3,031 Deposit liability — 5,964 Due to related parties 134 128 Total other liabilities - current 37,733 59,992 Other non-current December 31, in €‘000 2020 2021 Other financial liabilities: Deferred and contingent consideration 6,750 4,321 Other non-financial Employee benefit liabilities 3,788 2,091 Other 144 669 Total other non-current 10,682 7,081 |
Summary of Other Provisions | Provisions in €‘000 Legal Other Total Balance as of January 1, 2020 4,581 116 4,697 Additions 1,113 1,690 2,803 Used (3,351 ) (55 ) (3,406 ) Released (2,147 ) — (2,147 ) Balance as of December 31, 2020 196 1,751 1,947 Additions 1,340 72 1,412 Used (149 ) (56 ) (205 ) Released (93 ) (30 ) (123 ) Balance as of December 31, 2021 1,294 1,737 3,031 |
Contract liabilities (Tables)
Contract liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Contract liabilities [abstract] | |
Summary of Contract Liabilities Arising from Barter Deals with Sports Rights Licensors | As of December 31, 2021, contract liabilities of €5,596, arising from barter deals with sports rights licensors will be recognized as revenue as follows: in €‘000 2021 2022 1,847 2023 1,115 2024 791 2025 420 2026 - 2030 1,423 Total 5,596 As of December 31, 2020, contract liabilities of €5,205 arising from barter deals with sports rights licensors will be recognized as revenue as follows: in €‘000 2020 2021 3,585 2022 1,024 2023 344 2024 252 Total 5,205 |
Financial instruments - fair _2
Financial instruments - fair values and risk management (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Statements [Line Items] | |
Summary of Fair Value Hierarchy Carrying Amounts Of Financial Assets and Financial Liabilities | The following tables show the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. They do not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value. The tables present the amounts as of December 31, 2020 and 2021. Carrying amounts Fair values Financial instruments as of December 31, 2020 in €‘000 Mandatorily At Level 1 Level 2 Level 3 Financial assets measured at fair value Loans receivable 2,665 2,665 Financial assets not measured at fair value Cash and cash equivalents 385,542 Trade and other receivables 24,448 Unpaid capital contribution 89,295 Deposits 2,001 Advances and loans receivable 2,483 2,491 Total 2,665 503,769 5,156 Financial liabilities not measured at fair value Bank overdrafts 95 Loans and borrowings (excluding lease liabilities) 411,006 Deferred consideration 13,993 Trade and other payables 304,537 298,664 thereof for capitalized licenses 239,226 233,353 Total 729,631 298,664 The Company has adjusted the December 31, 2020 comparative amounts for certain immaterial errors to align with the December 31, 2021 presentation. Fair values Financial instruments as of December 31, 2021 in €‘000 Mandatorily FVOCI – At Level 1 Level 2 Level 3 Financial assets measured at fair value Loans receivable — — Equity investment 2,605 2,605 Financial assets not measured at fair value Cash and cash equivalents 742,773 Trade and other receivables 37,773 Deposits 2,142 Advances and loans receivable 1,767 1,770 Total — 2,605 784,455 4,375 Financial liabilities measured at fair value Contingent consideration 8,436 8,436 Financial liabilities not measured at fair value Bank overdrafts 73 Loans and borrowings (excluding lease liabilities) 411,379 Deferred consideration 7,714 Trade and other payables 511,719 518,145 thereof for capitalized licenses 441,366 447,792 Total 8,436 930,885 518,145 8,436 |
Summary of Reconciliation From The Opening Balances To The Closing Balances For Level 3 Fair Values | Following table shows a reconciliation from the opening balances to the closing balances for Level 3 fair values: in €‘000 Equity Loans Contingent Balance as of January 1, 2021 — 2,665 — Assumed in a business combination — — 8,246 Acquisition 2,605 — — Net change in fair value – unrealized (included in Finance cost / income and Impairment loss other financial assets) — (2,665 ) 190 Balance as of December 31, 2021 2,605 — 8,436 |
Summary of Provides Information About The Exposure To Credit Risk And ECLs For Loans Receivable | The following table provides information about the exposure to credit risk and ECLs for loans receivable as of December 31, 2020 and 2021: Loans receivable: exposure to credit risk and ECLs in €‘000 Gross carrying Weighted Impairment Credit- Grades 1 - 6: Low risk (BBB- 658 0.0 % — no Grade 10: Substandard (B- CCC-) 6,243 28.1 % (1,754 ) no Grade 12: Loss (D) 6,702 100.0 % (6,702 ) yes Total as of December 31, 2020 13,603 (8,456 ) Grades 1 - 6: Low risk (BBB- 567 0.0 % — no Grade 10: Substandard (B- CCC-) 3,288 63,5 % (2,087 ) no Grade 12: Loss (D) 12,258 100.0 % (12,258 ) yes Total as of December 31, 2021 16,113 (14,345 ) |
Summary of Trade Receivables From Individual Customers: Exposure To Credit Risk And ECLs | Trade receivables from individual customers: exposure to credit risk and ECLs in €‘000 Gross carrying Weighted Impairment Credit- Current (not past due) 11,410 1.01 % (115 ) no 1 to 60 days past due 10,771 5.27 % (567 ) no 61 to 90 days past due 828 11.19 % (93 ) no More than 90 days past due 4,637 79.94 % (3,707 ) yes Total as of December 31, 2020 27,646 (4,482 ) Current (not past due) 7,390 0.48 % (36 ) no 1 to 60 days past due 19,525 1.58 % (308 ) no 61 to 90 days past due 2,321 6.80 % (158 ) no More than 90 days past due 7,111 51.88 % (3,689 ) yes Total as of December 31, 2021 36,347 (4,190 ) |
Summary of Effect of a Quantitative Change Of Foreign Currency Exchange Rates Of The EURO Against The Exposed Currencies | The following table provides the effects of a five and ten percent quantitative change of foreign currency exchange rates of the Euro against the exposed currencies as of December 31, 2020 and 2021, on profit or loss: Effect of a quantitative change of foreign currency exchange rates of December 31, in €‘000 2020 2021 € exchange rate +10% (13,839 ) 43,486 € exchange rate +5% (6,918 ) 21,743 € exchange rate -5% 6,918 (21,743 ) € exchange rate -10% 13,839 (43,486 ) |
Bank Borrowings [Member] | |
Statements [Line Items] | |
Summary of Contractual Cash Flows For Financial Liabilities | The following tables show contractual cash flows for financial liabilities: Bank debt - contractual cash flows 1) December 31, in €‘000 2020 2021 due within one year 18,829 14,978 due within two to five years 73,139 59,658 due after five years 455,211 433,230 Total 547,179 507,866 |
Deferred And Contingent Consideration [Member] | |
Statements [Line Items] | |
Summary of Contractual Cash Flows For Financial Liabilities | Deferred & contingent consideration cash flows December 31, in €‘000 2020 2021 due within one year 7,243 11,829 due within two to five years 6,750 4,321 Total 13,993 16,150 |
Trade Payables [Member] | |
Statements [Line Items] | |
Summary of Contractual Cash Flows For Financial Liabilities | Trade payables December 31, in €‘000 2020 2021 due within one year 133,987 150,538 due within two to five years 149,107 263,397 due after five years 8,355 106,490 Total 291,449 520,425 |
Lease liabilities [member] | |
Statements [Line Items] | |
Summary of Contractual Cash Flows For Financial Liabilities | Lease liabilities cash flows December 31, in €‘000 2020 2021 due within one year 8,215 6,085 due within two to five years 19,003 16,623 due after five years 2,153 3,274 Total 29,371 25,982 |
Other Financial Liabilities [Member] | |
Statements [Line Items] | |
Summary of Contractual Cash Flows For Financial Liabilities | Other financial liabilities December 31, in €‘000 2020 2021 due within one year 4,656 5,982 Total 4,656 5,982 |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of license Payments For Non-Capitalized Or Not Yet Capitalized | Commitments: in €’000 2020 2021 less than one year 13,698 13,400 between more than one and less than two years 19,666 26,757 between more than two and less than three years 17,499 68,948 between more than three and less than four years 17,675 61,951 more than four years 26,875 522,733 Total 95,413 693,789 |
Related party transactions (Tab
Related party transactions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of transactions between related parties | Transactions with related parties - in €’000 NSoft Bayes Total Years Ended December 31, 2019 2020 2021 2019 2020 2021 2019 2020 2021 Revenue 1,633 1,347 1,861 819 1,585 1,730 2,452 2,931 3,591 Expenses (571 ) (706 ) (906 ) (1,858 ) (5,460 ) (5,742 ) (2,429 ) (6,165 ) (6,649 ) As of December 31, 2020 and 2021, outstanding balances with associates are shown below: NSoft Bayes Total Years Ended December 31, 2020 2021 2020 2021 2020 2021 Trade receivables 98 204 550 1,582 648 1,787 Trade payables — — (507 ) (598 ) (507 ) (598 ) |
Compensation of the board of _2
Compensation of the board of directors and key management personnel (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of Compensation of the Board of Directors and key Management Personnel [Abstract] | |
Summary of Compensation paid to key management personnel for employee services | Compensation paid to Board members and key management personnel for employee services, which is included in personnel expenses in the consolidated statement of profit or loss and other comprehensive income, is shown below: Compensation of Board members and key management personnel Years Ended December 31, in €‘000 2019 2020 2021 Short-term employee benefits 6,508 3,127 6,677 Post-employment pension and medical benefits 248 386 357 Share-based payments — 1,093 4,280 Total 6,756 4,606 11,314 |
Share-Based Payments (Tables)
Share-Based Payments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Summary of Phantom Option Plan | Number of Weighted average grant Outstanding options as of December 31, 2020 3,475 € 1,352.74 Granted 68 € 4,081.36 Forfeited before IPO-date (78 ) € 1,352.74 Conversion to restricted share units 1,199,364 € 3.91 Forfeited after the IPO date (13,706 ) € 3.91 Vested (350,174 ) € 3.91 Unvested restricted shares as of December 31, 2021 835,484 € 3.91 |
Summary of Omnibus stock plan | A summary of the Omnibus stock plan restricted share and option activities for the year ended December 31, 2021 is as follows: Number of Weighted average grant Unvested restricted shares as of December 31, 2020 — $ — Granted 1,302,599 $ 17.34 Unvested restricted shares as of December 31, 2021 1,302,599 $ 17.34 Number of Weighted average exercise Outstanding as of December 31, 2020 — $ — Issued 33,513 $ 27.00 Outstanding as of December 31, 2021 33,513 $ 27.00 Exercisable as of December 31, 2021 — Unvested as of December 31, 2021 33,513 |
Option To Acquire Class A Shares [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Summary of Fair Value Assumptions and Methodology of NHL Warrants | The inputs used in the measurement of the option to acquire up to 1,116,540 Class A shares were as follows: Valuation inputs: 2021 Valuation model Black-Scholes model Share price at grant date $27.00 Exercise price $8.96 Expected volatility (weighted-average) 30 % Expected term (as of September 14, 2021) 0 Risk-free interest rate (based on US government bond) 0.04 % |
NHL Warrants [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Summary of Fair Value Assumptions and Methodology of NHL Warrants | The inputs used in the measurement of the warrant were as follows: Valuation inputs: 2021 Valuation model Cox-Ross-Rubinstein binominal model Share price at grant date $27.00 Exercise price $23.45 Expected volatility (weighted-average) 30 % Expected term 120 months Risk-free interest rate (based on US government bond) 1.28 % |
Summary Of NHL Warrants | A summary of the company’s NHL warrants activity for the year ended December 31, 2021 is as follows: Number of Weighted average exercise Outstanding as of December 31, 2020 — $ — Issued — $ 23.45 Outstanding as of December 31, 2021 1,353,740 $ 23.45 Exercisable as of December 31, 2021 — Unvested as of December 31, 2021 1,353,740 |
NBA Warrants [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Summary Of NHL Warrants | A summary of the company’s NBA warrants activity for the year ended December 31, 2021 is as follows: Number of Weighted average exercise Outstanding as of December 31, 2020 — $ — Issued 9,229,797 $ 0.01 Outstanding as of December 31, 2021 9,229,797 $ 0.01 Exercisable as of December 31, 2021 1,845,959 Unvested as of December 31, 2021 7,383,838 |
Phantom Option Plan [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Summary Of Measurement Of The Fair Value Of The Service-Based And Exit-Value Based Components | The inputs used in the measurement of the fair value of the service-based and exit-value based components of the phantom options were as follows: Valuation inputs: 2020 Fair value at grant date €1,352.74 Share price at grant date €5,192.46 Exercise price €3,937.72 Expected volatility (weighted-average) 37.66% Expected term 2.47 years (service-based options) / Expected dividends — Risk-free interest rate (based on Swiss government securities) — Required exit value €2.1 billion |
Omnibus Stock Plan [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Summary Of Measurement Of The Fair Value Of The Service-Based And Exit-Value Based Components | The inputs used in the measurement of the option to acquire up to 33,513 Class A shares were as follows: Valuation inputs: 2021 Valuation model Black-Scholes model Share price at grant date $27.00 Exercise price $27.00 Expected volatility (weighted-average) 37.33 % Expected term 6.5 years Expected dividends — Risk-free interest rate (based on US government bond) 1.03 % |
List of consolidated entities (
List of consolidated entities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of information about consolidated structured entities [abstract] | |
Summary of Consolidated Entities | Share of capital in% December 31, December 31, Holding Sportradar Group AG, Switzerland Subsidiaries Sportradar AG, Switzerland 99.99 % 99.99 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 93 % 93 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % 100 % u 100 % u 100 % u 100 % u 100 % u 100 % u 100 % u 100 % u 100 % u 100 % u 100 % u 100 % Sportradar Capital Sarl SPA, Luxembourg 100 % 100 % Sportradar Jersey Holding Ltd, UK 100 % 100 % Share of capital in% December 31, December 31, Sportradar Management Ltd, UK 100 % 100 % u 100 % Slam InvestCo S.à r.l., Luxembourg 100 % Sportradar Holding AG, Switzerland 100 % Associated companies that are accounted for under the equity method u 40 % 40 % u 42.58 % 42.58 % u 49 % |
General information - Schedule
General information - Schedule of Effect of Reorganization on Components of Equity (Detail) € in Thousands | 12 Months Ended |
Dec. 31, 2021EUR (€)shares | |
Share capital | |
Schedule of Effect of Reorganization on Components of Equity [Line Items] | |
Reorganization transactions | € (302) |
Particip. Certificates | |
Schedule of Effect of Reorganization on Components of Equity [Line Items] | |
Reorganization transactions (in shares) | shares | (158,709) |
Reorganization transactions | € (164) |
Additional paid-in capital | |
Schedule of Effect of Reorganization on Components of Equity [Line Items] | |
Reorganization transactions | (125,136) |
Treasury shares | |
Schedule of Effect of Reorganization on Components of Equity [Line Items] | |
Reorganization transactions | € 624 |
Class A Ordinary Shares | |
Schedule of Effect of Reorganization on Components of Equity [Line Items] | |
Reorganization transactions (in shares) | shares | 180,341,159 |
Class B Ordinary Shares | |
Schedule of Effect of Reorganization on Components of Equity [Line Items] | |
Reorganization transactions (in shares) | shares | 903,670,701 |
Ordinary shares | |
Schedule of Effect of Reorganization on Components of Equity [Line Items] | |
Reorganization transactions (in shares) | shares | (344,611) |
Reorganization transactions | € 24,890 |
General information - Disclosur
General information - Disclosure of Reconciliation Finance Costs and Finance Income (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||
Finance costs | |||||
Accrued interest on license fee payables | € 6,772 | € 7,613 | |||
Interest on loans and borrowings | € 22,160 | 9,864 | 5,791 | ||
Other interest expense | 22 | 35 | |||
Other finance costs | |||||
Foreign exchange losses | 19,410 | 14,646 | |||
Other finance costs | 216 | 23 | |||
Total for the period | 36,068 | 28,108 | |||
Foreign exchange losses | (19,410) | (14,646) | |||
Total | 32,540 | 16,658 | [1] | 13,462 | [1] |
Finance income | |||||
Interest income | 5,179 | 6,661 | 4,236 | ||
Foreign exchange gains | 33,216 | 13,111 | |||
Other financial income | 118 | 1,856 | 98 | ||
Total for the period | 41,733 | 17,445 | |||
Less Foreign exchange gains | (33,216) | (13,111) | |||
Total | € 5,297 | € 8,517 | [1] | € 4,334 | [1] |
[1] | Certain amounts have been reclassified to conform to current year presentation as described in note 1.2. |
General information - Additiona
General information - Additional Information (Detail) | Sep. 14, 2021$ / sharesshares | Jun. 24, 2021EUR (€)shares | Sep. 30, 2021shares | Dec. 31, 2021EUR (€)shares | Dec. 31, 2020EUR (€) | Dec. 31, 2019EUR (€) | Jun. 24, 2021SFr / shares |
Disclosure of general information [Line Items] | |||||||
Name of parent entity | Sportradar Group AG | ||||||
Number of other equity instruments granted | shares | 0 | ||||||
Date of authorisation for issue of financial statements | Mar. 30, 2022 | ||||||
Foreign exchange gains | € | € 33,216,000 | € 13,111,000 | |||||
Foreign exchange losses | € | 19,410,000 | 14,646,000 | |||||
Finance costs including foreign exchange loss | € | 36,068,000 | 28,108,000 | |||||
Finance income including foreign exchange gain | € | 41,733,000 | € 17,445,000 | |||||
Covid Nineteen [Member] | |||||||
Disclosure of general information [Line Items] | |||||||
Income from government grants | € | 3,179,000 | ||||||
Government grants and Grants receivable | € | € 0 | € 0 | |||||
Class A Ordinary Shares [Member] | IPO [Member] | |||||||
Disclosure of general information [Line Items] | |||||||
Shares issued, Price per share | $ / shares | $ 27 | ||||||
Shares issued | shares | 19,000,000 | ||||||
Reorganization Transactions [Member] | Phantom Option Plan [Member] | |||||||
Disclosure of general information [Line Items] | |||||||
Conversion of awards, Converted restricted stock units | shares | 66,744 | ||||||
Reorganization Transactions [Member] | Management Participation Program [Member] | MPP Participant [Member] | |||||||
Disclosure of general information [Line Items] | |||||||
Number of other equity instruments granted | shares | 9,566,464 | ||||||
Reorganization Transactions [Member] | Management Participation Program [Member] | MPP Participant [Member] | Tranche One [Member] | |||||||
Disclosure of general information [Line Items] | |||||||
Percentage of shares subject to vest | 35.00% | ||||||
Reorganization Transactions [Member] | Management Participation Program [Member] | MPP Participant [Member] | Tranche Two [Member] | |||||||
Disclosure of general information [Line Items] | |||||||
Percentage of shares subject to vest | 65.00% | ||||||
Description of vesting requirements for share based payment arrangement | vest in three equal installments on each of December 31, 2022, 2023 and 2024. | ||||||
CarstenKoerl The Founder [Member] | Reorganization Transactions [Member] | |||||||
Disclosure of general information [Line Items] | |||||||
Capital contributions | € | € 100,000 | ||||||
Share price | SFr / shares | SFr 0.10 | ||||||
CarstenKoerl The Founder [Member] | Reorganization Transactions [Member] | Ordinary shares | |||||||
Disclosure of general information [Line Items] | |||||||
Shares received | shares | 1,000,000 | ||||||
CarstenKoerl The Founder [Member] | Reorganization Transactions [Member] | Class A Ordinary Shares [Member] | |||||||
Disclosure of general information [Line Items] | |||||||
Conversion of shares, Shares issued | shares | 2,500,000 | ||||||
CarstenKoerl The Founder [Member] | Reorganization Transactions [Member] | Class B Ordinary Shares [Member] | |||||||
Disclosure of general information [Line Items] | |||||||
Conversion of shares, Shares issued | shares | 903,670,701 | ||||||
Sportradar Holding AG [Member] | |||||||
Disclosure of general information [Line Items] | |||||||
Percentage of equity interest held | 100.00% |
Significant accounting polici_4
Significant accounting policies - Summary of Revised Standards and Interpretations Are Issued But Are Not Yet Effective (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
References To Conceptual Framework [Member] | |
Disclosure of initial application of standards or interpretations [line items] | |
Standard or interpretation | Amendments to IFRS 3 |
Effective date | January 1, 2022 |
Planned application by Sportradar in reporting year | 2022 |
Onerous Contracts-Cost of Fulfilling Contract [member] | |
Disclosure of initial application of standards or interpretations [line items] | |
Standard or interpretation | Amendments to IAS 37 |
Effective date | January 1, 2022 |
Planned application by Sportradar in reporting year | 2022 |
Property, Plant and Equipment-Proceeds before Intended Use [member] | |
Disclosure of initial application of standards or interpretations [line items] | |
Standard or interpretation | Amendments to IAS 16 |
Effective date | January 1, 2022 |
Planned application by Sportradar in reporting year | 2022 |
Annual Improvements to IFRS Standards 2018-20 [member] | |
Disclosure of initial application of standards or interpretations [line items] | |
Standard or interpretation | Annual Improvements to IFRS |
Effective date | January 1, 2022 |
Planned application by Sportradar in reporting year | 2022 |
Classification of Liabilities as Current or Non-current [member] | |
Disclosure of initial application of standards or interpretations [line items] | |
Standard or interpretation | Amendments to IAS 1 |
Effective date | January 1, 2023 |
Planned application by Sportradar in reporting year | 2023 |
Types of insurance contracts [member] | |
Disclosure of initial application of standards or interpretations [line items] | |
Standard or interpretation | IFRS 17 and amendments to IFRS 17 |
Effective date | January 1, 2023 |
Planned application by Sportradar in reporting year | 2023 |
Accounting estimates [member] | |
Disclosure of initial application of standards or interpretations [line items] | |
Standard or interpretation | Amendments to IAS 8 |
Effective date | January 1, 2023 |
Planned application by Sportradar in reporting year | 2023 |
Deferred Tax Related To Assets And Liabilities Arising From A Single Transaction [Member] | |
Disclosure of initial application of standards or interpretations [line items] | |
Standard or interpretation | Amendments to IAS 12 |
Effective date | January 1, 2023 |
Planned application by Sportradar in reporting year | 2023 |
Disclosure Of Accounting Policies [Member] | |
Disclosure of initial application of standards or interpretations [line items] | |
Standard or interpretation | Amendments to IAS 1 and IFRS Practice Statement 2 |
Effective date | January 1, 2023 |
Planned application by Sportradar in reporting year | 2023 |
Sale Or Contribution Of Assets Between An Investor And Its Associate Or Joint Venture [Member] | |
Disclosure of initial application of standards or interpretations [line items] | |
Standard or interpretation | Amendments to IFRS 10 and IAS 28 |
Significant accounting polici_5
Significant accounting policies - Summary of The Estimated Useful Lives and Depreciation Method (Detail) - Internally Developed Software [Member] | 12 Months Ended |
Dec. 31, 2021 | |
Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life in years | 5 years |
Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life in years | 3 years |
Significant accounting polici_6
Significant accounting policies - Summary of Intangible Assets Are Amortized On A Straight Line Basis (Detail) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about intangible assets [line items] | |||
Estimated useful life in years | 3 years | 4 years | 9 years |
Acquired trademarks and brand names [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Estimated useful life in years | 5 years | ||
Acquired customer bases [member] | Bottom of range [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Estimated useful life in years | 5 years | ||
Acquired customer bases [member] | Top of range [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Estimated useful life in years | 10 years | ||
Software [member] | Bottom of range [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Estimated useful life in years | 2 years | ||
Software [member] | Top of range [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Estimated useful life in years | 10 years | ||
Other rights [member] | Bottom of range [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Estimated useful life in years | 2 years | ||
Other rights [member] | Top of range [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Estimated useful life in years | 5 years |
Significant accounting polici_7
Significant accounting policies - Summary of Property and Equipment Are Depreciated On A Straight Line Basis Over The Estimated Useful Life of The Assets (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
Leasehold improvements [member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life in years | 5 years |
Leasehold improvements [member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life in years | 12 years |
Technical Equipment And Machines [Member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life in years | 3 years |
Technical Equipment And Machines [Member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life in years | 15 years |
Other facilities and equipment [member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life in years | 3 years |
Other facilities and equipment [member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life in years | 15 years |
Right-of-use assets [member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life in years | 1 year |
Right-of-use assets [member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life in years | 12 years |
Significant accounting polici_8
Significant accounting policies - Additional Information (Detail) - NBA License Agreement [Member] - EUR (€) € in Thousands | 12 Months Ended | ||||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statements [Line Items] | |||||
Impairment | € 36,000 | ||||
Amortization expense | € 612 | € 417 | € 207 | € 2,993 |
Business combinations - Summary
Business combinations - Summary of Fair Values of the Identifiable Assets and Liabilities (Detail) - EUR (€) € in Thousands | Jun. 09, 2021 | May 06, 2021 | Mar. 02, 2021 | Dec. 17, 2019 |
Optima [Member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Customer base | € 8,936 | |||
Technology | 5,692 | |||
Other intangibles | 566 | |||
Property and equipment | 1,586 | |||
Trade receivables | 1,623 | |||
Inventory | 258 | |||
Other assets | 390 | |||
Cash | 2,417 | |||
Finance liabilities | (976) | |||
Current liabilities | (2,462) | |||
Non-current liabilities | (712) | |||
Deferred tax liability, net | (3,874) | |||
Net assets acquired | 13,444 | |||
Goodwill | 13,952 | |||
Consideration transferred | € 27,396 | |||
Fresh Eight Limited [Member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Customer base | € 4,863 | |||
Technology | 3,402 | |||
Property and equipment | 69 | |||
Trade receivables | 377 | |||
Contract assets and other assets | 176 | |||
Cash | 152 | |||
Current liabilities | (327) | |||
Deferred tax liability, net | (1,570) | |||
Net assets acquired | 7,142 | |||
Goodwill | 13,168 | |||
Consideration transferred | € 20,310 | |||
Atrium Sports Inc [Member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Customer base | € 16,477 | |||
Technology | 56,540 | |||
Brand | 1,679 | |||
Property and equipment | 3,537 | |||
Trade receivables | 1,974 | |||
Contract assets and other assets | 3,899 | |||
Cash | 1,087 | |||
Current liabilities | (10,567) | |||
Non-current liabilities | (1,253) | |||
Deferred tax liability, net | (15,605) | |||
Net assets acquired | 57,768 | |||
Goodwill | 134,451 | |||
Consideration transferred | € 192,219 | |||
Interact Sport Pty Ltd [Member] | ||||
Disclosure of detailed information about business combination [line items] | ||||
Customer base | € 793 | |||
Technology | 966 | |||
Brand | 73 | |||
Trade receivables | 222 | |||
Contract assets and other assets | 359 | |||
Cash | 107 | |||
Current liabilities | (435) | |||
Deferred tax liability, net | (550) | |||
Net assets acquired | 1,535 | |||
Goodwill | 3,606 | |||
Consideration transferred | € 5,141 |
Business combinations - Summa_2
Business combinations - Summary of Cash flows arising from the Acquisition (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2019 | |
Optima [Member] | ||
Disclosure Of Cash flows Arising From The Acquisition LineItems [Line Items] | ||
Cash consideration paid for acquisition of subsidiary | € (11,334) | |
Cash acquired with the subsidiary | 2,417 | |
Included in cash flows from investing activities | (8,917) | |
Transaction costs of the acquisition (included in cash flows from operating activities) | (615) | |
Net cashflow on acquisition of subsidiary | € (9,532) | |
Fresh Eight Limited [Member] | ||
Disclosure Of Cash flows Arising From The Acquisition LineItems [Line Items] | ||
Cash consideration paid for acquisition of subsidiary | € (12,063) | |
Cash acquired with the subsidiary | 152 | |
Included in cash flows from investing activities | (11,911) | |
Transaction costs of the acquisition (included in cash flows from operating activities) | (439) | |
Net cashflow on acquisition of subsidiary | (12,350) | |
Interact Sport Pty Ltd [Member] | ||
Disclosure Of Cash flows Arising From The Acquisition LineItems [Line Items] | ||
Cash consideration paid for acquisition of subsidiary | (4,671) | |
Cash acquired with the subsidiary | 107 | |
Included in cash flows from investing activities | (4,564) | |
Transaction costs of the acquisition (included in cash flows from operating activities) | (154) | |
Net cashflow on acquisition of subsidiary | (4,718) | |
Atrium Sports Inc [Member] | ||
Disclosure Of Cash flows Arising From The Acquisition LineItems [Line Items] | ||
Cash consideration paid for acquisition of subsidiary | (183,043) | |
Cash acquired with the subsidiary | 1,087 | |
Included in cash flows from investing activities | (181,956) | |
Transaction costs of the acquisition (included in cash flows from operating activities) | (3,900) | |
Net cashflow on acquisition of subsidiary | € (185,856) |
Business combinations - Additio
Business combinations - Additional Information (Detail) € in Thousands | Jun. 09, 2021EUR (€) | Dec. 31, 2023EUR (€) | Dec. 31, 2022EUR (€) | Dec. 31, 2021EUR (€)shares | Dec. 31, 2020EUR (€) | Dec. 31, 2019EUR (€) | Dec. 31, 2024EUR (€) | May 06, 2021EUR (€)shares | Mar. 02, 2021EUR (€) | Oct. 31, 2020EUR (€) | Dec. 17, 2019 |
Statements [Line Items] | |||||||||||
Additional paid-in capital | € 606,057 | € 99,896 | |||||||||
Share-based compensation expense | € (15,431) | € (2,327) | |||||||||
Optima [Member] | |||||||||||
Statements [Line Items] | |||||||||||
Percentage of voting equity interests acquired | 100.00% | 100.00% | |||||||||
Cash transferred | € 11,300 | ||||||||||
Deferred consideration payable | 2,600 | ||||||||||
Working capital adjustment | € 500 | € 2,100 | |||||||||
Cash payment | 6,750 | 13,500 | |||||||||
Acquisition-related costs recognised as expense for transaction | € 615 | ||||||||||
Gross contractual amounts receivable for acquired receivables | 1,830 | ||||||||||
Best estimate at acquisition date of contractual cash flows not expected to be collected for acquired receivables | 207 | ||||||||||
Financial liabilities recognised as of acquisition date | € 13,500 | ||||||||||
Pro form revenue of acquire | 393,500 | ||||||||||
Pro form profit loss of acquire | 12,300 | ||||||||||
Fresh Eight Limited [Member] | |||||||||||
Statements [Line Items] | |||||||||||
Percentage of voting equity interests acquired | 100.00% | 100.00% | |||||||||
Cash transferred | € 11,600 | ||||||||||
Deferred consideration payable | 500 | ||||||||||
Acquisition-related costs recognised as expense for transaction | € 439 | ||||||||||
Total purchase consideration | € 9,700 | 9,700 | 9,700 | ||||||||
Cash payments | 600 | € 8,200 | |||||||||
Atrium Sports Inc [Member] | |||||||||||
Statements [Line Items] | |||||||||||
Percentage of voting equity interests acquired | 100.00% | ||||||||||
Cash transferred | 183,000 | ||||||||||
Cash payment | € 22,400 | ||||||||||
Acquisition-related costs recognised as expense for transaction | 3,900 | ||||||||||
Profit (loss) of acquiree since acquisition date | (15,500) | ||||||||||
Revenue of acquiree since acquisition date | 19,100 | ||||||||||
Total purchase consideration | 9,200 | ||||||||||
Remuneration | 13,200 | ||||||||||
Additional paid-in capital | 3,200 | ||||||||||
Share-based compensation expense | 7,000 | ||||||||||
Other comprehensive income of acquire | (15,200) | ||||||||||
Pro form revenue of acquire | 568,100 | ||||||||||
Pro form net loss, since acquisition date | (9,800) | ||||||||||
Pro form profit loss of acquire | € 1,200 | ||||||||||
Number of instruments or interests issued or issuable | shares | 1,805 | 1,805 | |||||||||
Deposit liability | € 6,000 | ||||||||||
Estimated useful life for technology and customer base | 10 years | ||||||||||
Trade receivables contractual gross | € 2,865 | ||||||||||
Uncollectible trade receivables date of acquisition | 891 | ||||||||||
Interact Sport Pty Ltd [Member] | |||||||||||
Statements [Line Items] | |||||||||||
Percentage of voting equity interests acquired | 100.00% | ||||||||||
Cash transferred | € 4,700 | ||||||||||
Deferred consideration payable | € 400 | ||||||||||
Acquisition-related costs recognised as expense for transaction | 154 | ||||||||||
Cash payments | € 3,000 | € 3,000 | € 3,000 | € 3,000 | |||||||
Deferred consideration payable with held period | 15 months |
Revenue from contracts with c_3
Revenue from contracts with customers - Summary of Disaggregation of Revenue From Contracts with Customers (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | € 561,202 | € 404,924 | € 380,403 |
Rest of the World Revenue [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 489,502 | 370,517 | 357,534 |
Rest of the World Revenue [Member] | Betting Revenue [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 309,357 | 234,991 | 224,734 |
Rest of the World Revenue [Member] | Betting Revenue [Member] | Betting Data Betting Entertainment Tools [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 214,034 | 170,044 | 176,041 |
Rest of the World Revenue [Member] | Betting Revenue [Member] | Managed Betting Services (MBS) [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 79,966 | 46,604 | 34,068 |
Rest of the World Revenue [Member] | Betting Revenue [Member] | Virtual Gaming and E Sports [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 15,357 | 18,343 | 14,625 |
Rest of the World Revenue [Member] | Betting AV Revenue [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 140,162 | 105,892 | 102,740 |
Rest of the World Revenue [Member] | Other Revenue [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 39,983 | 29,634 | 30,060 |
United States revenue [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 71,700 | 34,407 | 22,869 |
United States revenue [Member] | Media and Ads Revenue [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 33,796 | 21,041 | 19,026 |
United States revenue [Member] | Betting Revenue [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 15,150 | 9,791 | 3,595 |
United States revenue [Member] | Betting AV Revenue [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 5,166 | € 3,575 | € 248 |
United States revenue [Member] | Sports Solutions [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | € 17,588 |
Segmental information - Summary
Segmental information - Summary of Segment Adjusted EBITDA Represents Adjusted EBITDA Excluding Unallocated Corporate Expenses (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Segment Reporting Information, Revenue for Reportable Segment [Line Items] | |||
Segment revenue | € 561,202 | € 404,924 | € 380,403 |
Segment Adjusted EBITDA | 187,862 | 127,679 | 113,346 |
Amortization of sport rights | (94,312) | (80,608) | (93,893) |
Rest of the World Revenue [Member] | |||
Segment Reporting Information, Revenue for Reportable Segment [Line Items] | |||
Segment revenue | 489,502 | 370,517 | 357,534 |
United States Revenue [Member] | |||
Segment Reporting Information, Revenue for Reportable Segment [Line Items] | |||
Segment revenue | 71,700 | 34,407 | 22,869 |
Reportable segments [member] | |||
Segment Reporting Information, Revenue for Reportable Segment [Line Items] | |||
Segment revenue | 521,219 | 375,290 | 350,343 |
Segment Adjusted EBITDA | 193,608 | 129,062 | 114,862 |
Amortization of sport rights | (94,312) | (80,608) | (93,893) |
Reportable segments [member] | United States Revenue [Member] | |||
Segment Reporting Information, Revenue for Reportable Segment [Line Items] | |||
Segment revenue | 71,700 | 34,407 | 22,869 |
Segment Adjusted EBITDA | (22,625) | (16,373) | (40,095) |
Amortization of sport rights | (21,946) | (24,262) | (30,820) |
All other segments [member] | |||
Segment Reporting Information, Revenue for Reportable Segment [Line Items] | |||
Segment revenue | 39,983 | 29,634 | 30,060 |
Segment Adjusted EBITDA | (5,746) | (1,383) | (1,516) |
Betting Revenue [Member] | Rest of the World Revenue [Member] | |||
Segment Reporting Information, Revenue for Reportable Segment [Line Items] | |||
Segment revenue | 309,357 | 234,991 | 224,734 |
Betting Revenue [Member] | United States Revenue [Member] | |||
Segment Reporting Information, Revenue for Reportable Segment [Line Items] | |||
Segment revenue | 15,150 | 9,791 | 3,595 |
Betting Revenue [Member] | Reportable segments [member] | Rest of the World Revenue [Member] | |||
Segment Reporting Information, Revenue for Reportable Segment [Line Items] | |||
Segment revenue | 309,357 | 234,991 | 224,734 |
Segment Adjusted EBITDA | 176,987 | 118,676 | 129,233 |
Amortization of sport rights | (16,101) | (10,933) | (14,199) |
Betting AV Revenue [Member] | Rest of the World Revenue [Member] | |||
Segment Reporting Information, Revenue for Reportable Segment [Line Items] | |||
Segment revenue | 140,162 | 105,892 | 102,740 |
Betting AV Revenue [Member] | United States Revenue [Member] | |||
Segment Reporting Information, Revenue for Reportable Segment [Line Items] | |||
Segment revenue | 5,166 | 3,575 | 248 |
Betting AV Revenue [Member] | Reportable segments [member] | Rest of the World Revenue [Member] | |||
Segment Reporting Information, Revenue for Reportable Segment [Line Items] | |||
Segment revenue | 140,162 | 105,892 | 102,740 |
Segment Adjusted EBITDA | 39,246 | 26,759 | 25,724 |
Amortization of sport rights | € (56,266) | € (45,413) | € (48,874) |
Segmental information - Summa_2
Segmental information - Summary of Reconciliations of Segment Reporting Information (Detail) - EUR (€) € in Thousands | 12 Months Ended | |||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||||
Schedule of Reconciliations of Segment Reporting Information [Line Items] | ||||||
Segment Adjusted EBITDA | € 187,862 | € 127,679 | € 113,346 | |||
Unallocated corporate expenses | (85,849) | (50,811) | (50,153) | |||
Share based compensation | (15,431) | (2,327) | ||||
Foreign currency losses (gains), net | 5,437 | 13,806 | [1] | (1,535) | [1] | |
Finance income | 5,297 | 8,517 | [1] | 4,334 | [1] | |
Finance costs | (32,540) | (16,658) | [1] | (13,462) | [1] | |
Impairment of intangible assets | [1] | (26,184) | (39,482) | |||
Depreciation and amortization | (129,375) | (106,229) | [1] | (112,803) | [1] | |
Amortization of sport rights | 94,312 | 80,608 | 93,893 | |||
Loss from loss of control of subsidiary | [1] | (2,825) | ||||
Impairment of equity-accounted investee | (4,578) | |||||
Impairment loss on other financial assets | (5,889) | (1,698) | (1,558) | |||
Net income (loss) before tax | € 23,824 | € 22,125 | [1] | € (10,245) | [1] | |
[1] | Certain amounts have been reclassified to conform to current year presentation as described in note 1.2. |
Segmental information - Summa_3
Segmental information - Summary of Segment Reporting Information by Geographical areas (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Schedule of Segment Reporting Information by Geographical areas [Line Items] | |||
Revenue | € 561,202 | € 404,924 | € 380,403 |
Non-current assets | 890,750 | 389,936 | |
United Kingdom [Member] | |||
Schedule of Segment Reporting Information by Geographical areas [Line Items] | |||
Revenue | 68,688 | 58,387 | 61,495 |
Malta [Member] | |||
Schedule of Segment Reporting Information by Geographical areas [Line Items] | |||
Revenue | 70,529 | 52,674 | 49,101 |
United States [Member] | |||
Schedule of Segment Reporting Information by Geographical areas [Line Items] | |||
Revenue | 67,093 | 30,619 | 22,126 |
Non-current assets | 235,935 | 12,879 | |
Switzerland [Member] | |||
Schedule of Segment Reporting Information by Geographical areas [Line Items] | |||
Revenue | 7,397 | 5,013 | 6,100 |
Non-current assets | 515,060 | 279,352 | |
Germany [Member] | |||
Schedule of Segment Reporting Information by Geographical areas [Line Items] | |||
Non-current assets | 62,822 | 65,136 | |
Other Countries [Member] | |||
Schedule of Segment Reporting Information by Geographical areas [Line Items] | |||
Revenue | 347,495 | 258,231 | € 241,581 |
Non-current assets | € 76,933 | € 32,569 |
Segmental information - Summa_4
Segmental information - Summary of Segment Reporting Information by Geographical areas (Parenthetical) (Detail) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue Benchmark [Member] | |||
Schedule of Segment Reporting Information by Geographical areas [Line Items] | |||
Concentration Risks, Percentage | 10.00% | 10.00% | 10.00% |
Non Current Assets [Member] | |||
Schedule of Segment Reporting Information by Geographical areas [Line Items] | |||
Concentration Risks, Percentage | 10.00% | 10.00% |
Segmental information - Additio
Segmental information - Additional Information (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statements [Line Items] | |||
Revenue | € 39,390 | ||
Revenue Benchmark [Member] | |||
Statements [Line Items] | |||
Concentration Risks, Percentage | 10.00% | 10.00% | 10.00% |
Revenue Benchmark [Member] | Betting AV Revenue [Member] | Rest of the World Revenue [Member] | |||
Statements [Line Items] | |||
Concentration Risks, Percentage | 73.00% | ||
Revenue Benchmark [Member] | Betting Revenue [Member] | Rest of the World Revenue [Member] | |||
Statements [Line Items] | |||
Concentration Risks, Percentage | 27.00% |
Purchased services and licens_3
Purchased services and licenses - Summary Of Purchased Services And Licenses (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Text Block [Abstract] | |||
Non-capitalized licenses and sports rights | € 48,324 | € 46,804 | € 18,194 |
Data journalist and freelancer fees | 16,225 | 15,728 | 15,991 |
Production costs | 17,188 | 9,880 | 13,811 |
Variable service fees | 6,829 | 4,016 | 5,755 |
Sales agents | 3,924 | 1,786 | 2,095 |
Consultancy fees | 9,930 | 1,316 | 2,855 |
Optima platform and consultancy fees | 2,370 | 2,605 | |
Ads costs and operational fees | 9,861 | 4,147 | 1,233 |
Other costs | 4,775 | 3,025 | 1,461 |
Total | € 119,426 | € 89,307 | € 61,395 |
Other operating expenses - Summ
Other operating expenses - Summary Of Other Operating Expenses (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Text Block [Abstract] | |||
Legal and other consulting expenses | € 46,886 | € 15,899 | € 16,680 |
Telecommunication and IT expenses | 12,523 | 8,023 | 7,334 |
Software-as-a Service and similar rights | 9,482 | 5,101 | 3,613 |
Marketing expenses | 5,341 | 3,469 | 6,634 |
Travel expenses | 1,803 | 1,338 | 5,545 |
Insurance | 4,961 | 351 | 306 |
Office expenses | 3,028 | 3,020 | 3,864 |
Other costs | 3,284 | 4,138 | 2,751 |
Total | € 87,308 | € 41,339 | € 46,727 |
Foreign currency gains (losse_3
Foreign currency gains (losses), net - Summary Of Foreign Currency Gains (Losses), Net (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||
Text Block [Abstract] | |||||
Foreign currency gains | € 39,720 | € 33,216 | € 13,111 | ||
Foreign currency losses | (34,283) | (19,410) | (14,646) | ||
Total | € 5,437 | € 13,806 | [1] | € (1,535) | [1] |
[1] | Certain amounts have been reclassified to conform to current year presentation as described in note 1.2. |
Finance income - Summary Of Fin
Finance income - Summary Of Finance Income (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||
Text Block [Abstract] | |||||
Interest income | € 5,179 | € 6,661 | € 4,236 | ||
Other finance income | 118 | 1,856 | 98 | ||
Total | € 5,297 | € 8,517 | [1] | € 4,334 | [1] |
[1] | Certain amounts have been reclassified to conform to current year presentation as described in note 1.2. |
Finance costs - Summary Of Fina
Finance costs - Summary Of Financial Costs (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||
Interest expense | |||||
Accrued interest on license fee payables | € 10,071 | € 6,772 | € 7,613 | ||
Interest on loans and borrowings | 22,160 | 9,864 | 5,791 | ||
Other interest expense | 93 | 22 | 35 | ||
Other finance costs | |||||
Other finance costs | 216 | 23 | |||
Total | € 32,540 | € 16,658 | [1] | € 13,462 | [1] |
[1] | Certain amounts have been reclassified to conform to current year presentation as described in note 1.2. |
Earnings per share (EPS) - Summ
Earnings per share (EPS) - Summary of Earnings per Share (EPS) (Detail) - EUR (€) € in Thousands, shares in Thousands | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||
Earnings per share [line items] | |||||
Profit attributable to owners of the Company (basic and diluted) | € 12,569 | € 15,245 | [1] | € 11,734 | [1] |
Class A Common Stock [Member] | |||||
Earnings per share [line items] | |||||
Profit attributable to owners of the Company (basic and diluted) | € 8,744 | € 10,104 | € 7,777 | ||
Weighted-average number of Class B shares at December 31 (basic and diluted) | 188,673 | 177,627 | 172,180 | ||
Adjustments to reconcile profit (loss) to numerator used in calculating earnings per share [abstract] | |||||
Issued Class A shares at January 1 | 177,627 | 177,627 | 163,566 | ||
Effect of share options exercised | 19 | ||||
Effect of shares issued | 7,890 | 8,614 | |||
Effect of shares issued related to a business combination | 1,133 | ||||
Weighted-average number of Class A shares at December 31 (basic) | 186,670 | 177,627 | 172,180 | ||
Weighted average ordinary shares used in calculating basic and diluted earnings per share [abstract] | |||||
Weighted-average number of Class A shares at December 31 (basic) | 186,670 | 177,627 | 172,180 | ||
Effect of RSU`s on issue | 454 | ||||
Effect of warrants | 1,549 | ||||
Weighted-average number of Class A shares at December 31 (diluted) | 188,673 | 177,627 | 172,180 | ||
Class B Common Stock [Member] | |||||
Earnings per share [line items] | |||||
Profit attributable to owners of the Company (basic and diluted) | € 3,825 | € 5,141 | € 3,957 | ||
Issued Class B shares at January 1 | 903,671 | 903,671 | 903,671 | ||
Weighted-average number of Class B shares at December 31 (basic and diluted) | 903,671 | 903,671 | 903,671 | ||
Weighted average ordinary shares used in calculating basic and diluted earnings per share [abstract] | |||||
Weighted-average number of Class A shares at December 31 (diluted) | 903,671 | 903,671 | 903,671 | ||
[1] | Certain amounts have been reclassified to conform to current year presentation as described in note 1.2. |
Earnings per share (EPS) - Ad
Earnings per share (EPS) - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020shares | |
Earnings per share [abstract] | ||
Class B dividend ratio comparable to class A shares | 0.1 | |
Weighted average number of instruments used in calculating diluted earnings (loss) per instrument, participating equity instruments other than ordinary shares | 1,185,658 |
Intangible assets and goodwil_2
Intangible assets and goodwill - Additional Information (Details) - EUR (€) € in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Statements [Line Items] | ||||
Acquisitions through business combinations, intangible assets and goodwill | € 236,049 | |||
Liabilities arising from financing activities | 411,452 | € 411,101 | € 131,177 | |
Increase (decrease) through transfers, intangible assets and goodwill | 82,187 | 71,861 | 50,699 | |
Research and development expense | 36,687 | 28,511 | € 27,731 | |
Intangible assets and goodwill | € 808,472 | € 346,069 | ||
Useful life measured as period of time, intangible assets other than goodwill | 3 years | 4 years | 9 years | |
Explanation of period over which management has projected cash flows | Impairment tests of goodwill are performed based on the financial budgets most recently prepared by the Group covering the two-year period to December 31, 2023. | |||
Impairment loss | € 0 | € 4,578 | [1] | € 0 |
Additions other than through business combinations | € 124,890 | 91,956 | 91,576 | |
RoW Betting [Member] | ||||
Statements [Line Items] | ||||
Impairment loss | € 800 | |||
Terminal value growth rate | 2.00% | 2.00% | ||
RoW Betting AV [Member] | ||||
Statements [Line Items] | ||||
Impairment loss | € 3,300 | |||
Terminal value growth rate | 2.00% | 2.00% | ||
United States Segment [Member] | ||||
Statements [Line Items] | ||||
Impairment loss | € 11,700 | |||
NBA License [Member] | ||||
Statements [Line Items] | ||||
Impairment loss | 13,200 | 36,000 | ||
Recoverable amount of asset or cash generating unit | € 90,300 | 63,400 | ||
NFL License [Member] | ||||
Statements [Line Items] | ||||
Impairment loss | 2,600 | € 2,400 | ||
Recoverable amount of asset or cash generating unit | € 12,900 | € 7,300 | ||
NBA And NFL License [Member] | ||||
Statements [Line Items] | ||||
Weighted Average Cost of Capital Rate | 9.20% | 8.50% | ||
Terminal Value Growth Rate Measurement Input [Member] | ||||
Statements [Line Items] | ||||
Percentage of reasonably possible increase in unobservable input, assets | 0.00% | |||
EBITDA Margin Measurement Input | ||||
Statements [Line Items] | ||||
Percentage of reasonably possible increase in unobservable input, assets | 2.00% | |||
Discount rate, measurement input [member] | ||||
Statements [Line Items] | ||||
Percentage of reasonably possible increase in unobservable input, assets | 1.00% | |||
Goodwill [member] | ||||
Statements [Line Items] | ||||
Impairment loss | € 0 | |||
Goodwill [member] | Covid-19 | ||||
Statements [Line Items] | ||||
Impairment loss | 0 | |||
CGU United States [Member] | ||||
Statements [Line Items] | ||||
Impairment loss | € 10,400 | |||
Recoverable amount of asset or cash generating unit | € 17,900 | |||
Pre tax discount rate | 14.70% | |||
Terminal value growth rate | 2.00% | |||
CGUs Other Than C G U United States [Member] | ||||
Statements [Line Items] | ||||
Impairment loss | € 0 | |||
Licences [member] | ||||
Statements [Line Items] | ||||
Acquisitions through business combinations, intangible assets and goodwill | € 5 | |||
Percentage of Net book value ofsport rights Licenses | 65.00% | |||
Licences [member] | Bottom of range [member] | ||||
Statements [Line Items] | ||||
Liabilities arising from financing activities | € 4,389 | 135 | ||
Licences [member] | Top of range [member] | ||||
Statements [Line Items] | ||||
Liabilities arising from financing activities | 262,003 | 50,812 | ||
Capitalised development expenditure [member] | Personnel Expenses [Member] | ||||
Statements [Line Items] | ||||
Capitalized internally-developed software costs | 7,062 | 5,736 | € 11,592 | |
Capitalised development expenditure [member] | Purchased services and licenses excluding depreciation and amortization [Member] | ||||
Statements [Line Items] | ||||
Capitalized internally-developed software costs | 202 | 357 | 801 | |
Internally Developed Software [Member] | Purchased services and licenses excluding depreciation and amortization [Member] | ||||
Statements [Line Items] | ||||
Capitalized internally-developed software costs | 7,863 | 6,093 | 11,794 | |
Brand Names [Member} | ||||
Statements [Line Items] | ||||
Acquisitions through business combinations, intangible assets and goodwill | 1,767 | |||
Capitalized internally-developed software costs | 1,767 | |||
Brand Names [Member} | Gross carrying amount [member] | ||||
Statements [Line Items] | ||||
Acquisitions through business combinations, intangible assets and goodwill | 944 | 944 | ||
Sport Rights Included Within Licenses [Member] | ||||
Statements [Line Items] | ||||
Intangible assets and goodwill | 37,950 | € 71,373 | € 167,530 | |
Equity Instruments And Warrant [Member] | ||||
Statements [Line Items] | ||||
Liabilities arising from financing activities | € 27,965 | |||
[1] | Certain amounts have been reclassified to conform to current year presentation as described in note 1.2. |
Intangible assets and goodwil_3
Intangible assets and goodwill - Summary of Intangible and Goodwill (Details) - EUR (€) € in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Opening Balance | € 747,465 | € 749,104 | ||
Additions | 337,060 | 71,042 | ||
Impairment | [1] | 26,184 | € 39,482 | |
Additions through business combinations | 236,049 | |||
Disposals | (172,048) | (52,637) | ||
Disposal due to reduction in service potential | (9,132) | (17,549) | ||
Translation adjustments | 18,781 | (2,495) | ||
Ending Balance | 1,158,175 | 747,465 | 749,104 | |
Acquired trademarks and brand names [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Opening Balance | 7,058 | 7,100 | ||
Additions through business combinations | 1,767 | |||
Disposals | (1) | |||
Translation adjustments | 168 | (41) | ||
Ending Balance | 8,993 | 7,058 | 7,100 | |
Acquired customer bases [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Opening Balance | 44,759 | 44,766 | ||
Additions through business combinations | 22,134 | |||
Translation adjustments | 1,380 | (7) | ||
Ending Balance | 68,273 | 44,759 | 44,766 | |
Licences [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Opening Balance | 546,411 | 551,614 | ||
Additions | 324,234 | 64,923 | ||
Additions through business combinations | 5 | |||
Disposals | (172,042) | (51,535) | ||
Disposal due to reduction in service potential | (9,132) | (17,549) | ||
Translation adjustments | 869 | (1,042) | ||
Ending Balance | 690,345 | 546,411 | 551,614 | |
Software [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Opening Balance | 16,878 | 18,189 | ||
Additions | 1,032 | 26 | ||
Additions through business combinations | 60,918 | |||
Disposals | (6) | (1,101) | ||
Translation adjustments | 4,623 | (236) | ||
Ending Balance | 83,445 | 16,878 | 18,189 | |
Internally Developed Software [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Opening Balance | 36,263 | 30,248 | ||
Additions | 11,794 | 6,093 | ||
Translation adjustments | 69 | (78) | ||
Ending Balance | 48,126 | 36,263 | 30,248 | |
Goodwill [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Opening Balance | 96,096 | 97,187 | ||
Additions through business combinations | 151,225 | |||
Translation adjustments | 11,672 | (1,091) | ||
Ending Balance | 258,993 | 96,096 | 97,187 | |
Accumulated depreciation, amortisation and impairment [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Opening Balance | (401,396) | (328,307) | ||
Additions | (119,048) | (96,462) | ||
Impairment | (26,184) | |||
Disposals | 172,236 | 48,447 | ||
Translation adjustments | (1,495) | 1,110 | ||
Ending Balance | (349,703) | (401,396) | (328,307) | |
Accumulated depreciation, amortisation and impairment [member] | Acquired trademarks and brand names [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Opening Balance | (6,009) | (5,847) | ||
Additions | (396) | (204) | ||
Disposals | 1 | |||
Translation adjustments | (37) | 41 | ||
Ending Balance | (6,442) | (6,009) | (5,847) | |
Accumulated depreciation, amortisation and impairment [member] | Acquired customer bases [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Opening Balance | (23,168) | (19,646) | ||
Additions | (5,012) | (3,528) | ||
Translation adjustments | (26) | 6 | ||
Ending Balance | (28,206) | (23,168) | (19,646) | |
Accumulated depreciation, amortisation and impairment [member] | Licences [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Opening Balance | (336,136) | (280,966) | ||
Additions | (100,601) | (87,248) | ||
Impairment | (15,789) | |||
Disposals | 172,042 | 47,345 | ||
Translation adjustments | (441) | 522 | ||
Ending Balance | (265,136) | (336,136) | (280,966) | |
Accumulated depreciation, amortisation and impairment [member] | Software [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Opening Balance | (12,610) | (12,122) | ||
Additions | (6,048) | (1,724) | ||
Disposals | 6 | 1,101 | ||
Translation adjustments | (169) | 135 | ||
Ending Balance | (18,821) | (12,610) | (12,122) | |
Accumulated depreciation, amortisation and impairment [member] | Internally Developed Software [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Opening Balance | (13,484) | (9,726) | ||
Additions | (6,991) | (3,758) | ||
Disposals | 188 | |||
Translation adjustments | 30 | |||
Ending Balance | (20,257) | (13,484) | (9,726) | |
Accumulated depreciation, amortisation and impairment [member] | Goodwill [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Opening Balance | (9,989) | |||
Impairment | (10,395) | |||
Translation adjustments | (852) | 406 | ||
Ending Balance | (10,841) | (9,989) | ||
Gross carrying amount [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Opening Balance | 346,069 | |||
Ending Balance | 808,472 | 346,069 | ||
Gross carrying amount [member] | Acquired trademarks and brand names [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Opening Balance | 1,049 | |||
Additions through business combinations | 944 | 944 | ||
Ending Balance | 2,551 | 1,049 | ||
Gross carrying amount [member] | Acquired customer bases [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Opening Balance | 21,591 | |||
Ending Balance | 40,067 | 21,591 | ||
Gross carrying amount [member] | Licences [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Opening Balance | 210,275 | |||
Ending Balance | 425,209 | 210,275 | ||
Gross carrying amount [member] | Software [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Opening Balance | 4,268 | |||
Ending Balance | 64,624 | 4,268 | ||
Gross carrying amount [member] | Internally Developed Software [Member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Opening Balance | 22,779 | |||
Ending Balance | 27,869 | 22,779 | ||
Gross carrying amount [member] | Goodwill [member] | ||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||||
Opening Balance | € 86,107 | |||
Ending Balance | € 248,152 | € 86,107 | ||
[1] | Certain amounts have been reclassified to conform to current year presentation as described in note 1.2. |
Intangible assets and goodwil_4
Intangible assets and goodwill - Summary of Intangible and Goodwill (Parenthetical) (Details) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Amortisation, intangible assets other than goodwill | € 94,312 | € 80,608 |
Licences [member] | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Amortisation, intangible assets other than goodwill | 47,340 | |
Revaluation increase (decrease), intangible assets other than goodwill | € 4,190 |
Intangible assets and goodwil_5
Intangible assets and goodwill - Summary of Carrying Amount of Goodwill to the Respective CGUs and the Key Assumptions Used in Estimation of the Recoverable Amount (Details) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Disclosure of information for cash-generating units [line items] | |||
Opening Balance | € 747,465 | € 749,104 | |
Ending Balance | 1,158,175 | 747,465 | |
RoW Betting [Member] | |||
Disclosure of information for cash-generating units [line items] | |||
Opening Balance | 29,335 | 15,528 | |
Reclassification | 13,952 | ||
Foreign currency translation effect | 117 | (145) | |
Ending Balance | € 29,452 | € 29,335 | |
Terminal value growth rate | 2.00% | 2.00% | |
Budgeted EBITDA margin 1 | [1] | 39.80% | 45.10% |
Discount rate - WACC (before taxes) | 8.60% | 10.50% | |
RoW Betting AV [Member] | |||
Disclosure of information for cash-generating units [line items] | |||
Opening Balance | € 44,001 | € 44,001 | |
Acquisition | 57,814 | ||
Foreign currency translation effect | 4,481 | ||
Ending Balance | € 106,296 | € 44,001 | |
Terminal value growth rate | 2.00% | 2.00% | |
Budgeted EBITDA margin 1 | [1] | 15.30% | 16.80% |
Discount rate - WACC (before taxes) | 8.60% | 10.40% | |
RoW Other [Member] | |||
Disclosure of information for cash-generating units [line items] | |||
Opening Balance | € 12,772 | € 12,772 | |
Acquisition | 4,659 | ||
Foreign currency translation effect | 72 | ||
Ending Balance | € 17,504 | € 12,772 | |
Terminal value growth rate | 2.00% | 2.00% | |
Budgeted EBITDA margin 1 | [1] | 22.10% | 21.30% |
Discount rate - WACC (before taxes) | 11.20% | 10.30% | |
United States [Member] | |||
Disclosure of information for cash-generating units [line items] | |||
Opening Balance | € 10,935 | ||
Impairment | (10,395) | ||
Acquisition | € 88,752 | ||
Foreign currency translation effect | 6,148 | (540) | |
Ending Balance | € 94,900 | ||
Terminal value growth rate | 2.00% | ||
Budgeted EBITDA margin 1 | [1] | 23.20% | |
Discount rate - WACC (before taxes) | 11.10% | ||
Optima [Member] | |||
Disclosure of information for cash-generating units [line items] | |||
Opening Balance | 13,952 | ||
Reclassification | € (13,952) | ||
[1] | The budgeted EBITDA margin for the RoW Betting CGUs represents an average margin, whereas the budgeted EBITDA margin for the RoW Other and United States CGUs represents the assumption for the last year of the budget period. |
Property and equipment - Summar
Property and equipment - Summary of the Estimated Useful Lives and Depreciation Method (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | € 33,983 | |
Ending Balance | 35,923 | € 33,983 |
Land and buildings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 28,361 | |
Ending Balance | 25,219 | 28,361 |
Other facilities and equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 5,619 | |
Ending Balance | 10,685 | 5,619 |
Work in Progress [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 3 | |
Ending Balance | 19 | 3 |
Gross carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 60,157 | 58,264 |
Additions | 8,791 | 7,566 |
Disposals | (2,731) | (3,036) |
Translation adjustments | 2,084 | (2,637) |
Additions through business combinations | 3,789 | |
Ending Balance | 72,090 | 60,157 |
Gross carrying amount [member] | Land and buildings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 41,086 | 38,227 |
Additions | 2,961 | 5,374 |
Disposals | (2,325) | (1,347) |
Reclassification | 1,031 | |
Translation adjustments | 1,569 | (2,199) |
Additions through business combinations | 433 | |
Ending Balance | 43,724 | 41,086 |
Gross carrying amount [member] | Other facilities and equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 19,068 | 19,339 |
Additions | 5,807 | 1,872 |
Disposals | (398) | (1,689) |
Translation adjustments | 514 | (454) |
Additions through business combinations | 3,356 | |
Ending Balance | 28,347 | 19,068 |
Gross carrying amount [member] | Work in Progress [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 3 | 698 |
Additions | 23 | 320 |
Disposals | (8) | |
Reclassification | (1,031) | |
Translation adjustments | 1 | 16 |
Ending Balance | 19 | 3 |
Accumulated depreciation and amortisation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (26,174) | (19,335) |
Additions | (10,327) | (9,767) |
Disposals | 1,156 | 2,159 |
Translation adjustments | (822) | 769 |
Ending Balance | (36,167) | (26,174) |
Accumulated depreciation and amortisation [member] | Land and buildings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (12,725) | (6,989) |
Additions | (6,266) | (6,763) |
Disposals | 964 | 532 |
Translation adjustments | (478) | 495 |
Ending Balance | (18,505) | (12,725) |
Accumulated depreciation and amortisation [member] | Other facilities and equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (13,449) | (12,346) |
Additions | (4,061) | (3,004) |
Disposals | 192 | 1,627 |
Translation adjustments | (344) | 274 |
Ending Balance | € (17,662) | € (13,449) |
Leases - Summary of Quantitativ
Leases - Summary of Quantitative information about Right of Use Assets and Lease Liabilities (Detail) - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Right-of-use assets – Property and equipment | |||
Right-of-use assets | € 22,905 | € 25,513 | € 27,968 |
Lease liabilities – Loans and borrowings | |||
Current | 6,013 | 7,593 | |
Non-current | 17,885 | 19,985 | |
Land and buildings | |||
Right-of-use assets – Property and equipment | |||
Right-of-use assets | 22,905 | 25,513 | |
Other facilities and equipment | |||
Right-of-use assets – Property and equipment | |||
Right-of-use assets | € 132 | € 100 |
Leases - Summary of Detailed in
Leases - Summary of Detailed information about Reconciliation of Right of Use Assets (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Detailed Information About Reconciliation Of Right Of Use Assets [Line Items] | ||
Beginning Balance | € 25,513 | € 27,968 |
Depreciation charge for the year | (5,539) | (5,256) |
Additions / business combinations | 3,275 | 5,523 |
Derecognition due to lease termination | (1,301) | (1,356) |
Foreign currency effects | 957 | (1,366) |
Ending Balance | € 22,905 | € 25,513 |
Leases - Summary of Detailed _2
Leases - Summary of Detailed information about Reconciliation of Lease Liabilities (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Detailed Information About Reconciliation Of Lease Liabilities [Abstract] | |||
Beginning Balance | € 27,578 | € 28,845 | |
Additions to lease liabilities | 2,835 | 5,579 | |
Accretion of interest | 324 | 765 | |
Payments | (7,118) | (3,817) | € (5,088) |
Additions from business combinations | 433 | 0 | |
Rent concessions | (59) | (408) | 0 |
Derecognition due to lease termination | (1,400) | (1,711) | |
Foreign currency effects | 1,305 | (1,675) | |
Ending Balance | 23,898 | 27,578 | € 28,845 |
Current | 6,013 | 7,593 | |
Non-current | € 17,885 | € 19,985 |
Leases - Summary of Detailed _3
Leases - Summary of Detailed information about Lease Amounts Recognized in Profit or Loss (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Detailed Information About Lease Amounts Recognized In Profit Or Loss [Abstract] | |||
Interest on lease liabilities | € 324 | € 765 | € 671 |
Depreciation | 5,569 | 5,342 | 4,842 |
Income from sub-leasing right-of-use assets | (33) | (21) | (7) |
Expenses relating to short-term leases *) | 547 | 360 | 798 |
Expenses relating to low-value assets *) | 8 | 19 | 20 |
Rent concessions | (59) | (408) | 0 |
Total amount recognized in profit or loss | € 6,356 | € 6,057 | € 6,324 |
Leases - Summary of Detailed _4
Leases - Summary of Detailed information about Lease Amounts Recognized in Statements of Cash Flows (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Operating activities - cash outflow for leases | |||
-Short-term and low-value lease payments | € 555 | € 379 | € 818 |
-Interest paid on lease liabilities | 324 | 765 | 671 |
Financing activities – Principal payment on lease liabilities | 7,118 | 3,817 | 5,088 |
Total cash outflow for leases | € 7,997 | € 4,961 | € 6,577 |
Equity-accounted investees - Ad
Equity-accounted investees - Additional Information (Detail) - EUR (€) € in Thousands | Mar. 31, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Details Of Investments Accounted For Using Equity Method [Line Items] | |||||
Impairment loss | € 0 | € 4,578 | [1] | € 0 | |
Equity-accounted investees | 8,445 | 9,884 | |||
Nsoft Group [Member] | |||||
Details Of Investments Accounted For Using Equity Method [Line Items] | |||||
Equity-accounted investees | € 12,865 | ||||
Nsoft Group [Member] | Investments accounted for using equity method [member] | |||||
Details Of Investments Accounted For Using Equity Method [Line Items] | |||||
Proportion of onwership interest in associate | 40.00% | ||||
Additional equity ownership interest percentage | 11.00% | ||||
Pre tax discount rate | 14.50% | ||||
Terminal value growth rate | 1.00% | ||||
Recoverable amount of asset or cash generating unit | € 8,287 | ||||
Impairment loss | 0 | € 4,578 | |||
Changes in ownership value | 0 | ||||
Reversal of impairment loss | 0 | ||||
Bayes Esports [Member] | Investments accounted for using equity method [member] | |||||
Details Of Investments Accounted For Using Equity Method [Line Items] | |||||
Proportion of onwership interest in associate | 42.58% | 45.00% | |||
Changes in ownership value | € 0 | ||||
Diluted Equity Interest Percentage | 2.42% | ||||
Additional equity contribution | € 1,250 | ||||
N Soft Solutions Zagreb And Croatia [Member] | Investments accounted for using equity method [member] | |||||
Details Of Investments Accounted For Using Equity Method [Line Items] | |||||
Proportion of onwership interest in associate | 100.00% | ||||
[1] | Certain amounts have been reclassified to conform to current year presentation as described in note 1.2. |
Other financial assets and ot_3
Other financial assets and other non-current assets -Summary of Detailed Information About Other Financial Assets and Other Noncurrent Assets (Detail) - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Detailed Information About Other Financial Assets And Other Noncurrent Assets [Abstract] | ||
Unpaid contribution of capital | € 79,343 | |
Loans receivable (net of expected credit loss) | € 1,201 | 4,463 |
Deposits | 1,855 | 1,228 |
Equity investment | 2,605 | |
Other financial assets | 365 | 10,021 |
Prepayment non-current | 35,305 | |
Total | € 41,331 | € 95,055 |
Other financial assets and ot_4
Other financial assets and other non-current assets - Summary of the Composition And Movements of Loans Receivable (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Detailed Information About Composition And Movements Of loans Receivable [Line Items] | ||
Balance, Beginning | € 5,147 | € 4,578 |
Collection of loans receivable | (265) | (454) |
Issuance of loans receivable | 2,270 | 2,687 |
Interest | 275 | 268 |
Impairment | (5,889) | (1,698) |
Others | 230 | (234) |
Balance, Ending | 1,768 | 5,147 |
Noncurrent Loans Non current [Member] | ||
Detailed Information About Composition And Movements Of loans Receivable [Line Items] | ||
Balance, Beginning | 4,463 | 3,882 |
Collection of loans receivable | (454) | |
Issuance of loans receivable | 2,122 | 2,687 |
Interest | 251 | 66 |
Impairment | (5,889) | (1,496) |
Others | 254 | (222) |
Balance, Ending | 1,201 | 4,463 |
Loans Current [Member] | ||
Detailed Information About Composition And Movements Of loans Receivable [Line Items] | ||
Balance, Beginning | 684 | 696 |
Collection of loans receivable | (265) | |
Issuance of loans receivable | 148 | |
Interest | 24 | 202 |
Impairment | (202) | |
Others | (24) | (12) |
Balance, Ending | € 567 | € 684 |
Other financial assets and ot_5
Other financial assets and other non-current assets -Summary of the provision for Expected Credit Losses ("ECLs") (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Changes in allowance account for credit losses of financial assets [abstract] | ||
Balance as of January 1, | € (8,456) | € (6,758) |
Impairment | (5,889) | (1,698) |
Balance as of December 31, | € (14,345) | € (8,456) |
Other financial assets and ot_6
Other financial assets and other non-current assets - Additional Information (Detail) - EUR (€) € in Thousands | Nov. 16, 2021 | Dec. 31, 2021 | Aug. 09, 2021 | Dec. 31, 2020 |
Detailed Information About Other Financial Assets And Other Noncurrent Assets [Line Items] | ||||
Equity investment | € 8,445 | € 9,884 | ||
Increase equity throgh issue | 546,630 | |||
NBA Partnership Agreement [Member] | ||||
Detailed Information About Other Financial Assets And Other Noncurrent Assets [Line Items] | ||||
Agreement term | 8 years | |||
Vested warrants recognized at the grant date | 20.00% | |||
Increase equity throgh issue | € 35,305 | |||
Gameradar [Member] | ||||
Detailed Information About Other Financial Assets And Other Noncurrent Assets [Line Items] | ||||
Percentage of voting interests acquired | 14.427% | |||
Equity investment | € 2,605 | € 0 |
Trade receivables and contrac_3
Trade receivables and contract assets - Summary of Financial Assets (Detail) - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | ||
Trade receivables | € 36,347 | € 27,646 |
Trade receivable from associates | 1,786 | 648 |
Allowance for expected credit losses | (4,190) | (4,482) |
Total | 33,943 | 23,812 |
Contract assets | 40,800 | 23,890 |
Allowance for expected credit losses | (183) | (115) |
Total | € 40,617 | € 23,775 |
Trade receivables and contrac_4
Trade receivables and contract assets - Summary of Expected Credit Losses for Trade Receivables and Contract Assets (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of financial assets [line items] | ||
Balance as of January 1, | € (8,456) | € (6,758) |
Balance as of December 31, | (14,345) | (8,456) |
Trade Receivables and Contract Assets [Member] | ||
Disclosure of financial assets [line items] | ||
Balance as of January 1, | (4,597) | (3,194) |
Provision for expected credit losses | (288) | (2,947) |
Net amounts written off / recovered | 512 | 1,544 |
Balance as of December 31, | € (4,373) | € (4,597) |
Other assets and prepayments -
Other assets and prepayments - Summary of Other assets and prepayments (Detail) - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclsoure of Other assets and prepayments [Abstract] | ||
Prepaid expenses | € 20,111 | € 11,396 |
Other financial assets | 4,684 | 2,093 |
Taxes and fees | 1,580 | 568 |
Other | 4,786 | 961 |
Total | € 31,161 | € 15,018 |
Capital and reserves - Summary
Capital and reserves - Summary of Capital and Reserves (Detail) | 12 Months Ended |
Dec. 31, 2021shares | |
Disclosure of classes of share capital [line items] | |
Balance (in Shares) | 155,389 |
Issued during the year before the IPO | 3,320 |
Reorganization transactions | (158,709) |
Issued during the year during and subsequent to the IPO | 0 |
Balance (in Shares) | 0 |
Class A Common Stock [Member] | |
Disclosure of classes of share capital [line items] | |
Balance (in Shares) | 0 |
Issued during the year before the IPO | 0 |
Reorganization transactions | 180,314,159 |
Issued during the year during and subsequent to the IPO | 26,257,358 |
Balance (in Shares) | 206,571,517 |
Class B Common Stock [Member] | |
Disclosure of classes of share capital [line items] | |
Balance (in Shares) | 0 |
Issued during the year before the IPO | 0 |
Reorganization transactions | 903,670,701 |
Issued during the year during and subsequent to the IPO | 0 |
Balance (in Shares) | 903,670,701 |
Registered Shares [Member] | |
Disclosure of classes of share capital [line items] | |
Balance (in Shares) | 344,611 |
Issued during the year before the IPO | 0 |
Reorganization transactions | (344,611) |
Issued during the year during and subsequent to the IPO | 0 |
Balance (in Shares) | 0 |
Capital and reserves - Addition
Capital and reserves - Additional Information (Detail) | May 06, 2021shares | Apr. 07, 2021EUR (€)shares | Jan. 29, 2021EUR (€)shares | Dec. 31, 2021EUR (€)shares | Dec. 31, 2020EUR (€)Dayshares | Dec. 31, 2019EUR (€) | Dec. 31, 2021$ / shares | Jan. 29, 2021$ / shares | Dec. 31, 2020$ / shares | Nov. 17, 2020EUR (€) | Sep. 26, 2018EUR (€) |
Disclosure of classes of share capital [line items] | |||||||||||
Share capital | € 27,297,000 | € 302,000 | € 109,000,000 | ||||||||
Shares outstanding | shares | 0 | 155,389 | |||||||||
Common stock par or stated value per share | $ / shares | $ 1 | ||||||||||
Subscription receivable from shareholders | 87,200,000 | ||||||||||
Adjustment to additional paid in capital from issuance costs of participation certificates | € 7,880,000 | € 1,200,000 | |||||||||
Adjustment To Additional Paid In Capital Issue Of Shares For Assets Received | € 63,270,000 | ||||||||||
Reserve of discretionary participation features | € 161,000 | ||||||||||
Loans and borrowings excluding lease liabilities as a percentage of total liabilities and equity | 25.00% | 43.00% | |||||||||
Payment of Underwriter Discount Costs | € 26,389,000 | ||||||||||
UBS And ING Bank [Member] | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Debt intrument face value | € 300,000,000 | ||||||||||
Senior Facilities Agreement [Member] | Senior Credit Facilities With Syndicate Of Banks [Member] | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Debt intrument face value | € 530,000,000 | ||||||||||
Senior Facilities Agreement [Member] | Multicurrency Revolving Credit Facility [Member] | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Undrawn borrowing facilities | € 110,000,000 | ||||||||||
NFL Enterprises LLC [Member] | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Proportion of non controlling interest in subsidiary | 7.00% | ||||||||||
Carlsten Koerl [Member] | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Proportion of non controlling interest in subsidiary | 0.003% | ||||||||||
Optima [Member] | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Issue of participation certificates shares | shares | 1,307 | ||||||||||
Issue of participation certificates value | € 6,800 | ||||||||||
Atrium [Member] | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Issue of participation certificates shares | shares | 1,805 | ||||||||||
Director [Member] | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Issue of participation certificates shares | shares | 208 | ||||||||||
Issue of participation certificates value | € 1,000 | ||||||||||
Fair value per participation certificate | $ / shares | $ 12,237 | ||||||||||
Equity attributable to owners of parent [member] | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Decrease In Equity Due To Reorganization Transactions | € 100,088,000 | ||||||||||
Additional paid-in capital | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Share issue related cost | € 36,399,000 | ||||||||||
Class A Common Stock [Member] | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Shares outstanding | shares | 206,571,517 | 0 | |||||||||
Common stock par or stated value per share | $ / shares | $ 0.1 | ||||||||||
Common stock number of votes per share | Day | 1 | ||||||||||
Class B Common Stock [Member] | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Shares outstanding | shares | 903,670,701 | 0 | |||||||||
Common stock par or stated value per share | $ / shares | $ 0.01 | ||||||||||
Common stock number of votes per share | Day | 1 | ||||||||||
Registered Shares [Member] | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Shares outstanding | shares | 0 | 344,611 | |||||||||
MP Share Awards [Member] | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Reclassfication from additional paid in capital to unpaid contribution | € 5,383,000 | ||||||||||
Participation Certificates [Member] | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Shares outstanding | shares | 183,077 | ||||||||||
Common stock par or stated value per share | $ / shares | $ 1 | ||||||||||
Participation Certificates [Member] | Director [Member] | |||||||||||
Disclosure of classes of share capital [line items] | |||||||||||
Sale of stock issue price per share | $ / shares | $ 4,808 | ||||||||||
Share based payment expense | € 1,545,000 |
Loans and borrowings - Summary
Loans and borrowings - Summary of Loans and Borrowings (Detail) - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Current portion of loans and borrowings | ||
Bank loans | € 73 | € 447 |
Lease liabilities (Note 13) | 6,013 | 7,593 |
Total current portion of loans and borrowings | 6,086 | 8,040 |
Non - Current portion of loans and borrowings | ||
Bank loans | 411,379 | 410,654 |
Lease liabilities (Note 13) | 17,885 | 19,985 |
Total non current portion of loans and borrowings | 429,264 | 430,639 |
Total | € 435,350 | € 438,679 |
Loans and borrowings - Summar_2
Loans and borrowings - Summary of Senior Secured Net Leverage Ratio on Senior Secured Term Loan Facility (Detail) - Senior Secured Term Loan Facility [Member] - Senior Facilities Agreement [Member] | Dec. 31, 2021 |
Greater than 4.50:1.00 | |
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | |
Borrowings, adjustment to interest rate basis | 4.25% |
Greater than 4.00:1.00 but equal to or less than 4.50:1.00 | |
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | |
Borrowings, adjustment to interest rate basis | 4.00% |
Greater than 3.50:1.00 but equal to or less than 4.00:1.00 | |
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | |
Borrowings, adjustment to interest rate basis | 3.75% |
Equal to or less than 3.00:1.00 | |
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | |
Borrowings, adjustment to interest rate basis | 3.50% |
Loans and borrowings - Summar_3
Loans and borrowings - Summary of Senior Secured Net Leverage Ratio on Senior Secured Term Loan Facility (Parenthetical) (Detail) - Senior Secured Term Loan Facility [Member] - Senior Facilities Agreement [Member] | Dec. 31, 2021 |
Greater than 4.50:1.00 | |
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | |
Leverage ratio | 4.50 |
Greater than 4.00:1.00 but equal to or less than 4.50:1.00 | Top of range [member] | |
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | |
Leverage ratio | 4.50 |
Greater than 4.00:1.00 but equal to or less than 4.50:1.00 | Bottom of range [member] | |
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | |
Leverage ratio | 4 |
Greater than 3.50:1.00 but equal to or less than 4.00:1.00 | Top of range [member] | |
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | |
Leverage ratio | 4 |
Greater than 3.50:1.00 but equal to or less than 4.00:1.00 | Bottom of range [member] | |
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | |
Leverage ratio | 3.50 |
Equal to or less than 3.00:1.00 | |
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | |
Leverage ratio | 3.50 |
Loans and borrowings - Summar_4
Loans and borrowings - Summary of Senior Secured Net Leverage Ratio on Multicurrency Revolving Credit Facility (Detail) - Senior Facilities Agreement [Member] - Multicurrency Revolving Credit Facility [Member] | Dec. 31, 2021 |
Greater than 4.50:1.00 | |
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | |
Borrowings, adjustment to interest rate basis | 3.75% |
Greater than 4.00:1.00 but equal to or less than 4.50:1.00 | |
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | |
Borrowings, adjustment to interest rate basis | 3.50% |
Greater than 3.50:1.00 but equal to or less than 4.00:1.00 | |
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | |
Borrowings, adjustment to interest rate basis | 3.25% |
Greater than 3.00:1.00 but equal to or less than 3.50:1.00 | |
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | |
Borrowings, adjustment to interest rate basis | 3.00% |
Equal to or less than 3.00:1.00 | |
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | |
Borrowings, adjustment to interest rate basis | 2.75% |
Loans and borrowings - Summar_5
Loans and borrowings - Summary of Senior Secured Net Leverage Ratio on Multicurrency Revolving Credit Facility (Parenthetical) (Detail) - Senior Facilities Agreement [Member] - Multicurrency Revolving Credit Facility [Member] | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | ||
Percentage of commitment fee on the amount of unutilised facility | 30.00% | 30.00% |
Greater than 4.50:1.00 | ||
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | ||
Leverage ratio | 4.50 | |
Greater than 4.00:1.00 but equal to or less than 4.50:1.00 | Bottom of range [member] | ||
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | ||
Leverage ratio | 4 | |
Greater than 4.00:1.00 but equal to or less than 4.50:1.00 | Top of range [member] | ||
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | ||
Leverage ratio | 4.50 | |
Greater than 3.50:1.00 but equal to or less than 4.00:1.00 | Bottom of range [member] | ||
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | ||
Leverage ratio | 3.50 | |
Greater than 3.50:1.00 but equal to or less than 4.00:1.00 | Top of range [member] | ||
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | ||
Leverage ratio | 4 | |
Greater than 3.00:1.00 but equal to or less than 3.50:1.00 | Bottom of range [member] | ||
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | ||
Leverage ratio | 3 | |
Greater than 3.00:1.00 but equal to or less than 3.50:1.00 | Top of range [member] | ||
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | ||
Leverage ratio | 3.50 | |
Equal to or less than 3.00:1.00 | ||
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | ||
Leverage ratio | 3 | |
Less Than Or Equal To Eight Point Five Member [Member] | Top of range [member] | ||
Disclosure In Tabular Form Of Variable Interest Rate Spread Based On Leverage Ratio [Line Items] | ||
Leverage ratio | 8.50 |
Loans and borrowings - Summar_6
Loans and borrowings - Summary of Senior Secured Net Leverage Ratio on Excess Cash Flow (Detail) - Senior Secured Term Loan Facility And Multicurrecny Revolving Credit Facility [Member] - Senior Facilities Agreement [Member] | Dec. 31, 2021 | Dec. 31, 2020 |
Greater than 5.00:1 | ||
Disclosure In Tabular Form Of Prepayments As A Percentage Of Excess Cash Flow [Line Items] | ||
Prepayment As A Percentage Of Excess Cash Flow | 50.00% | 50.00% |
Equal to or less than 5.00:1 but greater than 4.50:1 | ||
Disclosure In Tabular Form Of Prepayments As A Percentage Of Excess Cash Flow [Line Items] | ||
Prepayment As A Percentage Of Excess Cash Flow | 25.00% | 25.00% |
Equal to or less than 4.50:1 | ||
Disclosure In Tabular Form Of Prepayments As A Percentage Of Excess Cash Flow [Line Items] | ||
Prepayment As A Percentage Of Excess Cash Flow | 0.00% | 0.00% |
Loans and borrowings - Summar_7
Loans and borrowings - Summary of Bank Loans and Bank Overdrafts (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning Balance | € 411,101 | € 131,177 |
Proceeds from loans and borrowings | (2,398) | 462,057 |
Transaction costs related to borrowings | (11,160) | |
Payment of loans and borrowings | (171,123) | |
Transfers | 0 | |
Amortization of borrowing costs | 1,232 | 125 |
Foreign currency rate adjustment | 42 | 25 |
Addition from business combination | 1,475 | |
Ending Balance | 411,452 | 411,101 |
Loans non-current | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning Balance | 410,654 | 120,628 |
Proceeds from loans and borrowings | (2,024) | 421,061 |
Transaction costs related to borrowings | (11,160) | |
Payment of loans and borrowings | (115,000) | |
Transfers | (5,000) | |
Amortization of borrowing costs | 1,232 | 125 |
Foreign currency rate adjustment | 42 | 0 |
Addition from business combination | 1,475 | |
Ending Balance | 411,379 | 410,654 |
Loans current | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning Balance | 352 | 10,169 |
Proceeds from loans and borrowings | (352) | 40,996 |
Transaction costs related to borrowings | 0 | |
Payment of loans and borrowings | (55,838) | |
Transfers | 5,000 | |
Amortization of borrowing costs | 0 | 0 |
Foreign currency rate adjustment | 0 | 25 |
Addition from business combination | 0 | |
Ending Balance | 0 | 352 |
Overdrafts | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning Balance | 95 | 380 |
Proceeds from loans and borrowings | (22) | 0 |
Transaction costs related to borrowings | 0 | |
Payment of loans and borrowings | (285) | |
Transfers | 0 | |
Amortization of borrowing costs | 0 | 0 |
Foreign currency rate adjustment | 0 | 0 |
Addition from business combination | 0 | |
Ending Balance | € 73 | € 95 |
Loans and borrowings - Addition
Loans and borrowings - Additional Information (Detail) - EUR (€) € in Thousands | Nov. 20, 2020 | Nov. 17, 2020 | Oct. 03, 2018 | Sep. 26, 2018 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about borrowings [line items] | |||||||
Payments for debt issue costs | € 0 | € 11,160 | € 0 | ||||
Proceeds from borrowings, classified as financing activities | 0 | 462,057 | 0 | ||||
Repayments of borrowings, classified as financing activities | € 2,376 | € 170,838 | € 20,100 | ||||
UBS And ING Bank [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Notional amount | € 300,000 | ||||||
Payments for debt issue costs | 3,648 | ||||||
Senior Amortizing Term Loan Facility [Member] | UBS And ING Bank [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Notional amount | 60,000 | ||||||
Senior Non Amortizing Term Loan Facility [Member] | UBS And ING Bank [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Notional amount | 90,000 | ||||||
Acquisition Term Loan Facility [Member] | UBS And ING Bank [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Notional amount | 100,000 | ||||||
Senior Amortizing Term Loan Facility And Senior Non Amortizing Term Loan Facility [Member] | UBS And ING Bank [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Proceeds from borrowings, classified as financing activities | € 150,000 | ||||||
Borrowings, adjustment to interest rate basis | 2.25% | ||||||
Repayments of borrowings, classified as financing activities | € 125,000 | ||||||
Senior Amortizing Term Loan Facility And Senior Non Amortizing Term Loan Facility [Member] | UBS And ING Bank [Member] | January To February Two Two Thousand And Twenty [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings, interest rate | 2.25% | ||||||
Senior Amortizing Term Loan Facility And Senior Non Amortizing Term Loan Facility [Member] | UBS And ING Bank [Member] | March To September Two Thousand And Twenty [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings, interest rate | 1.75% | ||||||
Senior Amortizing Term Loan Facility And Senior Non Amortizing Term Loan Facility [Member] | UBS And ING Bank [Member] | October Till November Twentieth Two Thousand And Twenty [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings, interest rate | 1.50% | ||||||
Senior Credit Facilities With Syndicate Of Banks [Member] | Senior Facilities Agreement [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Notional amount | € 530,000 | ||||||
Senior Secured Term Loan Facility [Member] | Senior Facilities Agreement [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Notional amount | € 420,000 | ||||||
Proceeds from borrowings, classified as financing activities | € 420,000 | ||||||
Long Term Debt Term | 7 years | ||||||
Multicurrency Revolving Credit Facility [Member] | Senior Facilities Agreement [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Long Term Debt Term | 6 years 6 months | ||||||
Line Of Credit Maximum Borrowing Capacity | € 110,000 | ||||||
Senior Secured Term Loan Facility And Multicurrecny Revolving Credit Facility [Member] | Senior Facilities Agreement [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Payments for debt issue costs | € 11,160 | ||||||
Revolving Credit Facility For Working Capital Purpose [Member] | UBS And ING Bank [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Line Of Credit Maximum Borrowing Capacity | € 50,000 |
Employee benefits - Additional
Employee benefits - Additional Information (Detail) € in Thousands | 12 Months Ended | ||
Dec. 31, 2021EUR (€)Day | Dec. 31, 2020EUR (€) | Dec. 31, 2019EUR (€) | |
Text Block [Abstract] | |||
Post employment benefit expense, Defined contribution plans | € | € 1,719 | € 1,729 | € 3,503 |
Number of pension plans classified as defined benefit plans | Day | 4 |
Employee benefits - Summary of
Employee benefits - Summary of Defined Benefit Pension Plans (Detail) - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of defined benefit plans [line items] | ||
Defined benefit obligation | € 11,456 | € 11,860 |
Fair value of plan assets | (9,365) | (8,072) |
Net defined benefit liability | € 2,091 | € 3,788 |
Employee benefits - Summary o_2
Employee benefits - Summary of Defined Benefit Obligation and Plan Assets (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of net defined benefit liability (asset) [line items] | ||
Beginning balance | € 3,788 | |
Ending Balance | 2,091 | € 3,788 |
Present value of defined benefit obligation [member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Beginning balance | 11,860 | 10,495 |
Interest expense on defined benefit obligation | 17 | 20 |
Current service cost | 799 | 577 |
Contributions by plan participants | 287 | 280 |
Benefits deposited | (483) | (180) |
Past service cost | (782) | 0 |
Administration cost (excl. cost for managing plan assets) | 5 | 5 |
Actuarial (gain) loss on defined benefit obligation | (604) | 606 |
Exchange rate loss | 357 | 57 |
Ending Balance | 11,456 | 11,860 |
Plan assets [member] | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Beginning balance | 8,072 | 7,876 |
Interest expense on defined benefit obligation | 11 | 12 |
Contributions by the employer | 360 | 352 |
Contributions by plan participants | 287 | 280 |
Benefits deposited | (483) | (180) |
Exchange rate loss | 322 | 52 |
Return on plan assets excl. interest income | 796 | (320) |
Ending Balance | € 9,365 | € 8,072 |
Employee benefits - Summary o_3
Employee benefits - Summary of Defined Benefit Obligation and Plan Assets (Parenthetical) (Detail) - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit obligation | € 11,456 | € 11,860 |
SWITZERLAND | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit obligation | 10,700 | 11,200 |
AUSTRIA | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit obligation | 500 | 500 |
SLOVENIA | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit obligation | 100 | 100 |
PHILIPPINES | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Defined benefit obligation | € 200 | € 100 |
Income taxes - Summary Of Major
Income taxes - Summary Of Major Components Of Tax Expense (Income) (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||
Current tax expense: | |||||
Current year | € 12,564 | € 2,746 | € 1,477 | ||
Changes in estimates related to prior years | 2,051 | 1,077 | 4,450 | ||
Deferred tax expense: | |||||
Origination and reversal of temporary differences | 1,567 | 3,700 | (30,130) | ||
Impact of changes in tax rates | 3,973 | ||||
Recognition of previously unrecognized deferred tax assets | (5,145) | (204) | (1,680) | ||
Income tax (benefit) expense reported in profit or loss | € 11,037 | € 7,319 | [1] | € (21,910) | [1] |
[1] | Certain amounts have been reclassified to conform to current year presentation as described in note 1.2. |
Income taxes - Summary Of Recon
Income taxes - Summary Of Reconciliation Of Changes In Deferred Tax Liability (Asset) (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of Reconciliation of changes in deferred tax liability (asset) [Line Items] | ||
Net deferred tax / asset as of January 1, | € 16,564 | € 20,122 |
Additions from business combinations | (17,725) | |
Recognized in other comprehensive income | 202 | 136 |
Recognized in profit or loss | 3,577 | (3,496) |
Foreign currency translation adjustment | (1,188) | (198) |
Net deferred tax asset as of December 31, | € 1,430 | € 16,564 |
Income taxes - Summary Of Defer
Income taxes - Summary Of Deferred Tax Assets And Liabilities (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax expense (income) recognised in profit or loss | € 3,577 | € (3,496) | |
Net deferred tax asset | 1,430 | 16,564 | € 20,122 |
Deferred tax assets and liabilities [abstract] | |||
Deferred tax assets | 26,908 | 22,218 | |
Deferred tax liabilities | (25,478) | (5,654) | |
Deferred tax assets, net | 1,430 | 16,564 | € 20,122 |
Other assets and prepayments | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 4,644 | 3,756 | |
Deferred tax expense (income) recognised in profit or loss | (337) | 1,436 | |
Intangible assets | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (19,114) | (8,493) | |
Deferred tax expense (income) recognised in profit or loss | 8,769 | (4,071) | |
Trade and other payables | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 4,637 | 1,536 | |
Deferred tax expense (income) recognised in profit or loss | 2,410 | 205 | |
Tax loss carry-forward | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 2,887 | 3,362 | |
Deferred tax expense (income) recognised in profit or loss | (475) | (715) | |
Tax step-up | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | 15,600 | 17,000 | |
Deferred tax expense (income) recognised in profit or loss | (1,400) | 0 | |
Other assets non-current | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (5,119) | 0 | |
Deferred tax expense (income) recognised in profit or loss | (5,119) | 0 | |
Other | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liability (asset) | (2,105) | (597) | |
Deferred tax expense (income) recognised in profit or loss | € (271) | € (351) |
Income taxes - Summary Of Rec_2
Income taxes - Summary Of Reconciliation Of Income Tax Expense Calculated At Statutory Rate And Recognized In Profit Or Loss Explanatory (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |||
Reconciliation of average effective tax rate and applicable tax rate [abstract] | |||||
Net income (loss) before tax | € 23,824 | € 22,125 | [1] | € (10,245) | [1] |
Applicable tax rate | 14.50% | 14.50% | 9.00% | ||
Tax benefit (expense) applying the Company tax rate | € (3,454) | € (3,208) | € 922 | ||
Effect of tax losses and tax offsets not recognized as deferred tax assets | (6,327) | 744 | 2,613 | ||
Effect on recognition of deferred tax assets, on previous unused tax losses and tax offsets | 5,145 | 204 | 1,680 | ||
Changes in estimates related to prior years | (2,051) | (1,077) | (4,450) | ||
Effect of non-deductible expenses | (4,132) | (4,527) | (147) | ||
Effect of difference to the Group tax rate | 555 | 935 | 610 | ||
Effects of changes in tax rate (deferred tax rate) | 0 | 0 | 3,973 | ||
Other effects | (773) | (389) | (291) | ||
Tax step up | 0 | 0 | 17,000 | ||
Income tax benefit (expense) | € (11,037) | € (7,319) | [1] | € 21,910 | [1] |
Effective tax rate | 46.30% | 33.10% | 213.90% | ||
[1] | Certain amounts have been reclassified to conform to current year presentation as described in note 1.2. |
Income taxes - Summary Of Tax L
Income taxes - Summary Of Tax Loss Carryforwards That Are Not Recognized As Deferred Tax Assets (Detail) - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Unlimited | ||
Disclosure Of Detailed Information About Unused Loss Carryforwards [Line Items] | ||
Unused tax losses for which no deferred tax asset recognised | € 64,797 | € 7,272 |
will expire within 5 years | ||
Disclosure Of Detailed Information About Unused Loss Carryforwards [Line Items] | ||
Unused tax losses for which no deferred tax asset recognised | 17,169 | 16,052 |
will expire thereafter | ||
Disclosure Of Detailed Information About Unused Loss Carryforwards [Line Items] | ||
Unused tax losses for which no deferred tax asset recognised | € 2,133,690 | € 1,612 |
Income taxes - Additional Info
Income taxes - Additional Information (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Income Tax [Line Items] | |||
Changes in estimates related to prior years | € 2,051 | € 1,077 | € 4,450 |
Applicable tax rate | 14.50% | 14.50% | 9.00% |
Deductible temporary differences for which no deferred tax asset is recognised | € 2,190,774 | € 24,936 | |
Sportradar Group AG Switzerland [Member] | |||
Disclosure Of Income Tax [Line Items] | |||
Applicable tax rate | 14.50% | 14.50% | 9.00% |
Temporary differences associated with investments in subsidiaries, branches and associates and interests in joint arrangements for which deferred tax liabilities have not been recognised | € 2,100,000 | ||
NORWAY | |||
Disclosure Of Income Tax [Line Items] | |||
Changes in estimates related to prior years | 2,051 | € 4,450 | |
SWITZERLAND | |||
Disclosure Of Income Tax [Line Items] | |||
Applicable tax rate | 14.50% | 9.00% | |
Tax rate applied for measuring deferred tax assets and liabilities | 14.50% | ||
Tax free set up | € 1,948,000 | ||
Deferred tax asset tax step up | € 15,600 | € 17,000 |
Other liabilities - Summary of
Other liabilities - Summary of Other Liabilities Explanatory (Detail) - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Other Current Financial Liabilities Abstract [Abstract] | ||
Deferred and contingent consideration | € 11,829 | € 7,243 |
Due to third parties | 6,319 | 4,984 |
Other Current Non financial Liabilities [Abstract] | ||
Payroll liabilities | 24,550 | 14,041 |
Taxes and fees | 8,171 | 9,384 |
Provisions | 3,031 | 1,947 |
Deposit liability | 5,964 | 0 |
Due to related parties | 128 | 134 |
Total other liabilities - current | 59,992 | 37,733 |
Other Noncurrent Financial Liabilities Abstract [Abstract] | ||
Deferred and contingent consideration | 4,321 | 6,750 |
Other Non current Nonfinancial Liabilities [Abstract] | ||
Employee benefit liabilities | 2,091 | 3,788 |
Other | 669 | 144 |
Total other non-current liabilities | € 7,081 | € 10,682 |
Trade payables - Additional Inf
Trade payables - Additional Information (Detail) - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Text Block [Abstract] | ||
License Fee Payables | € 441,365 | € 239,226 |
Trade payables - Summary of Tra
Trade payables - Summary of Trade Payables (Detail) - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Text Block [Abstract] | ||
License fee payables for capitalized sports data rights – non-current | € 316,576 | € 144,651 |
Other trade payables – non-current | 3,852 | 1,506 |
Trade payables non-current | 320,428 | 146,157 |
License fee payables for capitalized sports data rights – current | 124,789 | 94,574 |
Other trade payables and accrued expenses – current | 25,223 | 36,895 |
Trade payables current | 150,012 | 131,469 |
Total | € 470,440 | € 277,626 |
Other liabilities - Summary o_2
Other liabilities - Summary of Other Provisions (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of other provisions [line items] | ||
Beginning Balance | € 1,947 | € 4,697 |
Additions | 1,412 | 2,803 |
Used | (205) | (3,406) |
Released | (123) | (2,147) |
Ending Balance | 3,031 | 1,947 |
Miscellaneous other provisions [member] | ||
Disclosure of other provisions [line items] | ||
Beginning Balance | 1,751 | 116 |
Additions | 72 | 1,690 |
Used | (56) | (55) |
Released | (30) | 0 |
Ending Balance | 1,737 | 1,751 |
Legal proceedings provision [member] | ||
Disclosure of other provisions [line items] | ||
Beginning Balance | 196 | 4,581 |
Additions | 1,340 | 1,113 |
Used | (149) | (3,351) |
Released | (93) | (2,147) |
Ending Balance | € 1,294 | € 196 |
Contract liabilities - Addition
Contract liabilities - Additional Information (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Contract Liabilities Line Items [Line Items] | ||
Current contract liabilities | € 22,956 | € 14,976 |
Non-current contract liabilities | 3,853 | 1,743 |
Transaction price allocated to remaining performance obligations | 979,300 | 540,000 |
Contract Liabilities Relating To Customer Prepayments [Member] | ||
Disclosure Of Contract Liabilities Line Items [Line Items] | ||
Revenue that was included in contract liability balance at beginning of period | 11,403 | 15,590 |
Contract Liabilities Realting To Barter Deals [Member] | ||
Disclosure Of Contract Liabilities Line Items [Line Items] | ||
Revenue that was included in contract liability balance at beginning of period | 3,585 | 3,617 |
Not later than one year [member] | ||
Disclosure Of Contract Liabilities Line Items [Line Items] | ||
Transaction price allocated to remaining performance obligations | € 541,700 | € 406,800 |
Contract liabilities - Summary
Contract liabilities - Summary of Contract Liabilities Arising from Barter Deals with Sports Rights Licensors (Details) - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure In Tabular Form Of Contract Liabilities From Barter Deals With Sports To Be Recognized In The Future [Line Items] | ||
Contract liabilities | € 5,596 | € 5,205 |
2022 [Member] | ||
Disclosure In Tabular Form Of Contract Liabilities From Barter Deals With Sports To Be Recognized In The Future [Line Items] | ||
Contract liabilities | 1,847 | 3,585 |
2023 [Member] | ||
Disclosure In Tabular Form Of Contract Liabilities From Barter Deals With Sports To Be Recognized In The Future [Line Items] | ||
Contract liabilities | 1,115 | 1,024 |
2024 [Member] | ||
Disclosure In Tabular Form Of Contract Liabilities From Barter Deals With Sports To Be Recognized In The Future [Line Items] | ||
Contract liabilities | 791 | 344 |
2025 [Member] | ||
Disclosure In Tabular Form Of Contract Liabilities From Barter Deals With Sports To Be Recognized In The Future [Line Items] | ||
Contract liabilities | 420 | € 252 |
2026 - 2030 [Member] | ||
Disclosure In Tabular Form Of Contract Liabilities From Barter Deals With Sports To Be Recognized In The Future [Line Items] | ||
Contract liabilities | € 1,423 |
Financial instruments - fair _3
Financial instruments - fair values and risk management - Summary of Fair Value Hierarchy Carrying Amounts Of Financial Assets and Financial Liabilities (Detail) - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets measured at fair value Mandatorily at FVTPL | € 0 | € 2,665 |
Financial assets at amortised cost | 784,455 | 503,769 |
Financial liabilities at amortised cost | 930,885 | 729,631 |
Investments in equity instruments designated at fair value through other comprehensive income | 2,605 | |
Financial liabilities mandatorily measured at fair value through profit or loss | 8,436 | |
Bank overdrafts [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at amortised cost | 73 | 95 |
Loans and borrowings (excluding lease liabilities) [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at amortised cost | 411,379 | 411,006 |
Deferred consideration [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at amortised cost | 7,714 | 13,993 |
Trade and other payables [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at amortised cost | 511,719 | 304,537 |
Trade and other payables [Member] | For Capitalized Licenses [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at amortised cost | 441,366 | 239,226 |
Contingent consideration [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities mandatorily measured at fair value through profit or loss | 8,436 | |
Loans Receivable [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets measured at fair value Mandatorily at FVTPL | 0 | 2,665 |
Cash and cash equivalents [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at amortised cost | 742,773 | 385,542 |
Trade and other receivables [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at amortised cost | 37,773 | 24,448 |
Deposits [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at amortised cost | 2,142 | 2,001 |
Advances and loans receivable [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at amortised cost | 1,767 | 2,483 |
Equity investment [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Investments in equity instruments designated at fair value through other comprehensive income | 2,605 | |
Unpaid capital contribution [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at amortised cost | 89,295 | |
At fair value [Member] | Level 3 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets, at fair value | 4,375 | 5,156 |
Financial liabilities, at fair value | 8,436 | |
At fair value [Member] | Level 3 | Contingent consideration [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities, at fair value | 8,436 | |
At fair value [Member] | Level 3 | Loans Receivable [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets, at fair value | 0 | 2,665 |
At fair value [Member] | Level 3 | Advances and loans receivable [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets, at fair value | 1,770 | 2,491 |
At fair value [Member] | Level 3 | Equity investment [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets, at fair value | 2,605 | |
At fair value [Member] | Level 2 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities, at fair value | 518,145 | 298,664 |
At fair value [Member] | Level 2 | Trade and other payables [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities, at fair value | 518,145 | 298,664 |
At fair value [Member] | Level 2 | Trade and other payables [Member] | For Capitalized Licenses [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities, at fair value | € 447,792 | € 233,353 |
Financial instruments - Fair _4
Financial instruments - Fair Values and Risk Management - Summary of Reconciliation From The Opening Balances To The Closing Balances For Level 3 Fair Values (Detail) € in Thousands | 12 Months Ended |
Dec. 31, 2021EUR (€) | |
Disclosure Of Reconciliation Of Fair Value Of Financial Assets And Financial Liabilities Using Significant Unobservable Inputs [Line Items] | |
Balance as of January 1, 2021 | € 957,017 |
Balance as of December 31, 2021 | 1,771,121 |
Balance as of January 1, 2021 | 792,885 |
Balance as of December 31, 2021 | 1,035,487 |
Level 3 of fair value hierarchy [member] | Contingent consideration [member] | |
Disclosure Of Reconciliation Of Fair Value Of Financial Assets And Financial Liabilities Using Significant Unobservable Inputs [Line Items] | |
Balance as of January 1, 2021 | 0 |
Assumed in a business combination | 8,246 |
Net change in fair value – unrealized (included in Finance cost / income and Impairment loss other financial assets) | 190 |
Balance as of December 31, 2021 | 8,436 |
Equity investments [member] | Level 3 of fair value hierarchy [member] | |
Disclosure Of Reconciliation Of Fair Value Of Financial Assets And Financial Liabilities Using Significant Unobservable Inputs [Line Items] | |
Balance as of January 1, 2021 | 0 |
Acquisition | 2,605 |
Net change in fair value – unrealized (included in Finance cost / income and Impairment loss other financial assets) | 0 |
Balance as of December 31, 2021 | 2,605 |
Loans to consumers [member] | Level 3 of fair value hierarchy [member] | |
Disclosure Of Reconciliation Of Fair Value Of Financial Assets And Financial Liabilities Using Significant Unobservable Inputs [Line Items] | |
Balance as of January 1, 2021 | 2,665 |
Acquisition | 0 |
Net change in fair value – unrealized (included in Finance cost / income and Impairment loss other financial assets) | (2,665) |
Balance as of December 31, 2021 | € 0 |
Financial instruments - Fair _5
Financial instruments - Fair Values and Risk Management - Summary of Contractual Cash Flows for Financial Liabilities Bank Borrowings (Detail) - Bank Borrowings [Member] - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Bank borrowings, undiscounted cash flows | € 507,866 | € 547,179 |
due within one year [Member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Bank borrowings, undiscounted cash flows | 14,978 | 18,829 |
due within two to five years [Member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Bank borrowings, undiscounted cash flows | 59,658 | 73,139 |
due after five years [Member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Bank borrowings, undiscounted cash flows | € 433,230 | € 455,211 |
Financial instruments - Fair _6
Financial instruments - Fair Values and Risk Management - Summary of Contractual Cash Flows for Financial Liabilities Deferred And Contingent Consideration (Detail) - Deferred And Contingent Consideration [Member] - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Deferred & contingent consideration cash flows | € 16,150 | € 13,993 |
due within one year [Member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Deferred & contingent consideration cash flows | 11,829 | 7,243 |
due within two to five years [Member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Deferred & contingent consideration cash flows | € 4,321 | € 6,750 |
Financial instruments - Fair _7
Financial instruments - Fair Values and Risk Management - Summary of Contractual Cash Flows for Financial Liabilities Trade Payables (Detail) - Trade Payables [Member] - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables, undiscounted cash flows | € 520,425 | € 291,449 |
due within one year [Member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables, undiscounted cash flows | 150,538 | 133,987 |
due within two to five years [Member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables, undiscounted cash flows | 263,397 | 149,107 |
due after five years [Member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Trade and other payables, undiscounted cash flows | € 106,490 | € 8,355 |
Financial instruments - Fair _8
Financial instruments - Fair Values and Risk Management - Summary of Contractual Cash Flows for Financial Liabilities Lease Liabilities (Detail) - Lease liabilities [member] - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Gross lease liabilities | € 25,982 | € 29,371 |
due within one year [Member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Gross lease liabilities | 6,085 | 8,215 |
due within two to five years [Member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Gross lease liabilities | 16,623 | 19,003 |
due after five years [Member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Gross lease liabilities | € 3,274 | € 2,153 |
Financial instruments - Fair _9
Financial instruments - Fair Values and Risk Management - Summary of Contractual Cash Flows for Financial Liabilities Other Financial Liabilities (Detail) - Other Financial Liabilities [Member] - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Other Financial Liabilities Undiscounted Cash Flows | € 5,982 | € 4,656 |
due within one year [Member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Other Financial Liabilities Undiscounted Cash Flows | € 5,982 | € 4,656 |
Financial instruments - Fair_10
Financial instruments - Fair Values and Risk Management - Summary of Information About the Exposure to Credit Risk and ECLs for Loans Receivable (Detail) - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure In Tabular From Of Exposure To Credit Risk And Expected Credit Loss On Loans Receivable [Line Items] | |||
Impairment loss allowance | € (14,345) | € (8,456) | € (6,758) |
Loans to consumers [Member] | |||
Disclosure In Tabular From Of Exposure To Credit Risk And Expected Credit Loss On Loans Receivable [Line Items] | |||
Gross carrying amount | 16,113 | 13,603 | |
Impairment loss allowance | (14,345) | (8,456) | |
Loans to consumers [Member] | Financial assets neither past due nor impaired [Member] | Grades 1 - 6: Low risk (BBB- to AAA) [Member] | |||
Disclosure In Tabular From Of Exposure To Credit Risk And Expected Credit Loss On Loans Receivable [Line Items] | |||
Gross carrying amount | € 567 | € 658 | |
Weighted average loss rate | 0.00% | 0.00% | |
Impairment loss allowance | € 0 | € 0 | |
Loans to consumers [Member] | Financial assets neither past due nor impaired [Member] | Grade 10: Substandard (B- to CCC-) [Member] | |||
Disclosure In Tabular From Of Exposure To Credit Risk And Expected Credit Loss On Loans Receivable [Line Items] | |||
Gross carrying amount | € 3,288 | € 6,243 | |
Weighted average loss rate | 63.50% | 28.10% | |
Impairment loss allowance | € (2,087) | € (1,754) | |
Loans to consumers [Member] | Financial assets impaired [Member] | Grade 12: Loss (D) [Member] | |||
Disclosure In Tabular From Of Exposure To Credit Risk And Expected Credit Loss On Loans Receivable [Line Items] | |||
Gross carrying amount | € 12,258 | € 6,702 | |
Weighted average loss rate | 100.00% | 100.00% | |
Impairment loss allowance | € (12,258) | € (6,702) |
Financial instruments - Fair_11
Financial instruments - Fair Values and Risk Management - Summary of Trade Receivables From Individual Customers: Exposure To Credit Risk And ECLs (Detail) - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure In Tabular From Of Exposure To Credit Risk And Expected Credit Loss On Trade Receivables [Line Items] | |||
Impairment loss allowance | € (14,345) | € (8,456) | € (6,758) |
Trade receivables [Member] | |||
Disclosure In Tabular From Of Exposure To Credit Risk And Expected Credit Loss On Trade Receivables [Line Items] | |||
Gross carrying amount | 36,347 | 27,646 | |
Impairment loss allowance | (4,190) | (4,482) | |
Trade receivables [Member] | Financial assets neither past due nor impaired [Member] | Current (not past due) [Member] | |||
Disclosure In Tabular From Of Exposure To Credit Risk And Expected Credit Loss On Trade Receivables [Line Items] | |||
Gross carrying amount | € 7,390 | € 11,410 | |
Weighted average loss rate | 0.48% | 1.01% | |
Impairment loss allowance | € (36) | € (115) | |
Trade receivables [Member] | Financial assets past due but not impaired [Member] | 1 to 60 days past due [Member] | |||
Disclosure In Tabular From Of Exposure To Credit Risk And Expected Credit Loss On Trade Receivables [Line Items] | |||
Gross carrying amount | € 19,525 | € 10,771 | |
Weighted average loss rate | 1.58% | 5.27% | |
Impairment loss allowance | € (308) | € (567) | |
Trade receivables [Member] | Financial assets past due but not impaired [Member] | 61 to 90 days past due [Member] | |||
Disclosure In Tabular From Of Exposure To Credit Risk And Expected Credit Loss On Trade Receivables [Line Items] | |||
Gross carrying amount | € 2,321 | € 828 | |
Weighted average loss rate | 6.80% | 11.19% | |
Impairment loss allowance | € (158) | € (93) | |
Trade receivables [Member] | Financial assets collectively assessed for credit losses [Member] | More than 90 days past due [Member] | |||
Disclosure In Tabular From Of Exposure To Credit Risk And Expected Credit Loss On Trade Receivables [Line Items] | |||
Gross carrying amount | € 7,111 | € 4,637 | |
Weighted average loss rate | 51.88% | 79.94% | |
Impairment loss allowance | € (3,689) | € (3,707) |
Financial instruments - Fair_12
Financial instruments - Fair Values and Risk Management - Summary of Effect of a Quantitative Change Of Foreign Currency Exchange Rates Of The EURO Against The Exposed Currencies (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, liabilities [line items] | ||
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, after tax, liabilities | € 4,600 | |
Increase Of Ten Percentage [Member] | Not Designated As Cash Flow Hedging Instruments [Member] | Forward contract [Member] | Currency risk [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, liabilities [line items] | ||
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, after tax, liabilities | 43,486 | € (13,839) |
Increase Of Five Percentage [Member] | Not Designated As Cash Flow Hedging Instruments [Member] | Forward contract [Member] | Currency risk [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, liabilities [line items] | ||
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, after tax, liabilities | 21,743 | (6,918) |
Decrease Of Five Percentage [Member] | Not Designated As Cash Flow Hedging Instruments [Member] | Forward contract [Member] | Currency risk [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, liabilities [line items] | ||
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, after tax, liabilities | (21,743) | 6,918 |
Decrease Of Ten Percentage [Member] | Not Designated As Cash Flow Hedging Instruments [Member] | Forward contract [Member] | Currency risk [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, liabilities [line items] | ||
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, after tax, liabilities | € (43,486) | € 13,839 |
Financial instruments - Fair_13
Financial instruments - Fair Values and Risk Management - Summary of Effect of a Quantitative Change Of Foreign Currency Exchange Rates Of The EURO Against The Exposed Currencies (Parenthetical) (Detail) - Not Designated As Cash Flow Hedging Instruments [Member] - Forward contract [Member] - Currency risk [member] | Dec. 31, 2021 | Dec. 31, 2020 |
Increase Of Ten Percentage [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, liabilities [line items] | ||
Exchange Rate | 10.00% | 10.00% |
Increase Of Five Percentage [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, liabilities [line items] | ||
Exchange Rate | 5.00% | 5.00% |
Decrease Of Five Percentage [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, liabilities [line items] | ||
Exchange Rate | 5.00% | 5.00% |
Decrease Of Ten Percentage [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, liabilities [line items] | ||
Exchange Rate | 10.00% | 10.00% |
Financial instruments - fair_14
Financial instruments - fair values and risk management - Additional Information (Detail) - EUR (€) € in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Nov. 17, 2020 | |
Disclosure of detailed information about financial instruments [line items] | ||||
Revenue from contracts with customers | € 561,202 | € 404,924 | € 380,403 | |
Percentage of sales in functional currency | 85.00% | 85.00% | ||
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, after tax, liabilities | € 4,600 | |||
Gain Loss On Foreign Exchange Measurement On Financial Assets And Liabilities At Amortized Cost | 1,664 | € 17,937 | 4,771 | |
Allowance account for credit losses of financial assets | 14,345 | 8,456 | 6,758 | |
Contract assets [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Contract assets Gross Carrying Amount | 40,800 | 23,890 | ||
Allowance account for credit losses of financial assets | € 183 | 115 | ||
Senior Secured Term Loan Facility [Member] | Senior Facilities Agreement [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Derivatives notional amount | € 420,000 | |||
Debt intrument face value | 420,000 | |||
Multicurrency Revolving Credit Facility [Member] | Senior Facilities Agreement [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Line of credit maximum borrowing capacity | € 110,000 | |||
Senior Secured Term Loan And Multirevolving Credit Facility [Member] | Senior Facilities Agreement [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Percentage of reasonably possible increase in unobservable input, liabilities | 100.00% | |||
Senior Secured Term Loan And Multirevolving Credit Facility [Member] | Senior Facilities Agreement [Member] | EURIBOR [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Borrowings adjustment to interest rate | 350.00% | |||
Senior Secured Term Loan And Multirevolving Credit Facility [Member] | Senior Facilities Agreement [Member] | Stated Interest Of Alteast Zero Percent Or If Less Than Zero Percent Then Interest Rate Spread Of Three Point Five Percentage Points [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Estimated interest expense for the forthcoming year | € 15,800 | |||
Not Designated As Cash Flow Hedging Instruments [Member] | Forward contract [Member] | Currency risk [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Foreign currency exposure net liability asset | (438,341) | 138,664 | ||
Not later than one year [member] | Not Designated As Cash Flow Hedging Instruments [Member] | Forward contract [Member] | Currency risk [member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Derivatives notional amount | 0 | 0 | 54,400 | |
Debt intrument face value | € 0 | € 0 | 54,400 | |
One Customer [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Revenue from contracts with customers | € 39,390 | |||
Bottom of range [member] | Senior Secured Term Loan And Multirevolving Credit Facility [Member] | Senior Facilities Agreement [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Borrowings interest rate | 0.00% | |||
Bottom of range [member] | No Customer [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Concentration of revenue percentage | 10.00% | 10.00% | ||
Bottom of range [member] | One Customer [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Concentration of revenue percentage | 10.00% | |||
Top of range [member] | Senior Secured Term Loan And Multirevolving Credit Facility [Member] | Senior Facilities Agreement [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Borrowings interest rate | 0.00% |
Commitments - Summary of licens
Commitments - Summary of license Payments For Non-Capitalized Or Not Yet Capitalized (Detail) - EUR (€) € in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Statements [Line Items] | ||
Capital commitments | € 693,789 | € 95,413 |
less than one year [Member] | ||
Statements [Line Items] | ||
Capital commitments | 13,400 | 13,698 |
between more than one and less than two years [Member] | ||
Statements [Line Items] | ||
Capital commitments | 26,757 | 19,666 |
between more than two and less than three years [Member] | ||
Statements [Line Items] | ||
Capital commitments | 68,948 | 17,499 |
between more than three and less than four years [Member] | ||
Statements [Line Items] | ||
Capital commitments | 61,951 | 17,675 |
more than four years [Member] | ||
Statements [Line Items] | ||
Capital commitments | € 522,733 | € 26,875 |
Commitments - Additional Inform
Commitments - Additional Information (Detail) - EUR (€) € in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Text Block [Abstract] | ||
Commitments For Licenses Not Yet Capitalized | € 689.9 | € 87.5 |
Related party transactions - Su
Related party transactions - Summary of transactions between related parties (Detail) - Associates [member] - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of transactions between related parties [line items] | |||
Revenue | € 3,591 | € 2,931 | € 2,452 |
Expense | (6,649) | (6,165) | (2,429) |
Trade receivables | 1,787 | 648 | |
Trade payables | (598) | (507) | |
Nsoft [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue | 1,861 | 1,347 | 1,633 |
Expense | (906) | (706) | (571) |
Trade receivables | 204 | 98 | |
Trade payables | 0 | 0 | |
Bayes [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue | 1,730 | 1,585 | 819 |
Expense | (5,742) | (5,460) | € (1,858) |
Trade receivables | 1,582 | 550 | |
Trade payables | € (598) | € (507) |
Related party transactions - Ad
Related party transactions - Additional Information (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of transactions between related parties [line items] | |||
Revenue from related parties | € 0 | € 0 | € 374 |
Bettech [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Revenue from related parties | 185 | 335 | € 433 |
Current trade and other receivables from related parties | 15 | 39 | |
Several Members Of Middle Level Management [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Loan receivable from related parties non current | € 567 | € 660 | |
Loan receivable from related parties stated rate of interest | 5.00% | ||
Loan receivable from related parties maturity period | 2 years | ||
Karlsten Koerl [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Percentage of voting rights held by the shareholder in the company | 80.00% | ||
Karlsten Koerl [Member] | Chief Executive Officer [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Percentage of voting rights held by the shareholder in the company | 55.10% | ||
Karlsten Koerl [Member] | Betgames UAV TV Zaidmai [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Percentage of voting rights held by the shareholder in the company | 30.00% | ||
Karlsten Koerl [Member] | Bettech Gaming Private Limited [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Percentage of voting rights held by the shareholder in the company | 50.00% | ||
Blackbird S A R L [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Percentage of voting rights held by the shareholder in the company | 40.00% | ||
Bottom of range [member] | |||
Disclosure of transactions between related parties [line items] | |||
Percentage of voting rights held by the shareholder in the company | 20.00% | 20.00% | 20.00% |
Compensation of the board of _3
Compensation of the board of directors and key management personnel - Summary of Compensation paid to key management personnel for employee services (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Information About Key Management Personnel [Line Items] | |||
Post-employment pension and medical benefits | € 357 | € 386 | |
Total | 6,207 | 3,067 | € 6,033 |
Board of Directors and Key Management Personnel [Member] | |||
Disclosure Of Information About Key Management Personnel [Line Items] | |||
Short-term employee benefits | 6,677 | 3,127 | 6,508 |
Post-employment pension and medical benefits | 357 | 386 | 248 |
Share-based payments | 4,280 | 1,093 | 0 |
Total | € 11,314 | € 4,606 | € 6,756 |
Compensation of the board of _4
Compensation of the board of directors and key management personnel - Additional Information (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of Compensation of the Board of Directors and key Management Personnel [Line Items] | |||
Directors' remuneration expense | € 470 | € 60 | € 475 |
Directors travel costs reimbursements | 0 | 34 | 281 |
key management personnel | 6,207 | 3,067 | € 6,033 |
Post-employment pension and medical benefits | € 357 | € 386 |
Share-Based Payments - Summary
Share-Based Payments - Summary of Phantom Option Plan (Details) | 12 Months Ended | ||
Dec. 31, 2021yr$ / sharesshares | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Unvested restricted shares as of December 31, 2021 (Number of shares) | shares | 1,353,740 | ||
Stock Options [Member] | Phantom Option Plan [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Outstanding options as of December 31, 2020 (Number of shares) | yr | 3,475 | ||
Granted (Number of shares) | 68 | 2,529 | 946 |
Forfeited before IPO-date (Number of shares) | yr | (78) | ||
Outstanding options as of December 31, 2020 (Weighted average grant date)) | $ 1,352.74 | ||
Granted (Weighted average grant date) | 4,081.36 | ||
Forfeited before IPO-date (Weighted average grant date) | $ 1,352.74 | ||
Restricted Share Units [Member] | Phantom Option Plan [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Conversion to restricted share units (Number of shares) | shares | 1,199,364 | ||
Forfeited after the IPO date (Number of shares) | yr | (13,706) | ||
Vested (Number of shares) | yr | (350,174) | ||
Unvested restricted shares as of December 31, 2021 (Number of shares) | shares | 835,484 | ||
Conversion to restricted share units (Weighted average grant date) | $ 3.91 | ||
Forfeited after the IPO date (Weighted average grant date) | 3.91 | ||
Vested (Weighted average grant date) | 3.91 | ||
Unvested restricted shares as of December 31, 2021 (Weighted average grant date) | $ 3.91 |
Share-Based Payments - Summar_2
Share-Based Payments - Summary of Omnibus stock plan (Details) | 12 Months Ended |
Dec. 31, 2021yrshares$ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Unvested restricted shares as of December 31,2020 (Number of shares) | shares | 0 |
Granted (Number of shares) | shares | 0 |
Unvested restricted shares as of December 31, 2021 (Number of shares) | shares | 1,353,740 |
Unvested restricted shares as of December 31, 2020 (Weighted average grant date) | $ 0 |
Granted (Weighted average grant date) | 23.45 |
Unvested restricted shares as of December 31, 2021 (Weighted average grant date) | $ 23.45 |
Omnibus Stock Plan [Member] | Restricted Share Units [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Unvested restricted shares as of December 31,2020 (Number of shares) | yr | 0 |
Granted (Number of shares) | yr | 1,302,599 |
Unvested restricted shares as of December 31, 2021 (Number of shares) | yr | 1,302,599 |
Unvested restricted shares as of December 31, 2020 (Weighted average grant date) | $ 0 |
Granted (Weighted average grant date) | 17.34 |
Unvested restricted shares as of December 31, 2021 (Weighted average grant date) | $ 17.34 |
Omnibus Stock Plan [Member] | Stock Options [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Outstanding as of December 31, 2020 (Number of options) | yr | 0 |
Issued (Number of shares) | yr | 33,513 |
Outstanding as of December 31, 2021 (Number of options) | yr | 33,513 |
Exercisable as of December 31, 2021 (Number of shares) | yr | 0 |
Unvested as of December 31, 2021 (Number of shares) | shares | 33,513 |
Outstanding as of December 31, 2020 (Weighted average exercise price) | $ 0 |
Granted (Weighted average exercise price) | 27 |
Outstanding as of December 31, 2021 (Weighted average exercise price) | $ 27 |
Share-Based Payments - Summar_3
Share-Based Payments - Summary Of Measurement Of The Fair Value Of The Service-Based And Exit-Value Based Components (Details) | 12 Months Ended | |
Dec. 31, 2021yr$ / shares | Dec. 31, 2020EUR (€)yr$ / shares | |
Phantom Option Plan [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Fair value at grant date | € | € 1,352.74 | |
Share price at grant date | € 5,192.46 | |
Exercise price | € 3,937.72 | |
Expected volatility (weighted-average) | 37.66% | |
Required Exit Value | € | € 2,100,000,000 | |
Phantom Option Plan [Member] | Sevice Based Phantom Options [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Expected term | yr | 2.47 | |
Phantom Option Plan [Member] | Exit Value Based Phantom Options [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Expected term | yr | 2.06 | |
Omnibus Stock Plan [Member] | Stock Options [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Valuation model | Black-Scholes model | |
Share price at grant date | $ 27 | |
Exercise price | $ 27 | |
Expected volatility (weighted-average) | 37.33% | |
Expected term | yr | 6.5 | |
Risk free interest rate, share options granted | 1.03% |
Share-Based Payments - Summar_4
Share-Based Payments - Summary of Fair Value Assumptions and Methodology of NHL Warrants (Details) | 12 Months Ended |
Dec. 31, 2021mo$ / shares | |
Option To Acquire Class A Shares [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Valuation model | Black-Scholes model |
Share price at grant date | $ 27 |
Exercise price | $ 8.96 |
Expected volatility (weighted-average) | 30.00% |
Expected term | mo | 0 |
Risk-free interest rate (based on US government bond) | 0.04% |
NHL Warrants [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Valuation model | Cox-Ross-Rubinstein binominal model |
Share price at grant date | $ 27 |
Exercise price | $ 23.45 |
Expected volatility (weighted-average) | 30.00% |
Expected term | mo | 120 |
Risk-free interest rate (based on US government bond) | 1.28% |
Share-Based Payments - Summar_5
Share-Based Payments - Summary Of NHL Warrants (Details) | 12 Months Ended |
Dec. 31, 2021shares$ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Unvested restricted shares as of December 31,2020 (Number of shares) | 0 |
Number of other equity instruments granted | 0 |
Unvested restricted shares as of December 31, 2021 (Number of shares) | 1,353,740 |
Exercisable as of December 31, 2021 (Number of warrants) | 0 |
Unvested restricted shares as of December 31, 2021 (Number of shares) | 1,353,740 |
Unvested restricted shares as of December 31, 2020 (Weighted average grant date) | $ / shares | $ 0 |
Issued (Weighted average exercise price) | $ / shares | 23.45 |
Unvested restricted shares as of December 31, 2021 (Weighted average grant date) | $ / shares | $ 23.45 |
Share-Based Payments - Summar_6
Share-Based Payments - Summary Of NBA Warrants (Details) | 12 Months Ended |
Dec. 31, 2021shares$ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Unvested restricted shares as of December 31,2020 (Number of shares) | 0 |
Number of other equity instruments granted | 0 |
Unvested restricted shares as of December 31, 2021 (Number of shares) | 1,353,740 |
Exercisable as of December 31, 2021 (Number of warrants) | 0 |
Unvested restricted shares as of December 31, 2021 (Number of shares) | 1,353,740 |
Unvested restricted shares as of December 31, 2020 (Weighted average grant date) | $ / shares | $ 0 |
Granted (Weighted average grant date) | $ / shares | 23.45 |
Unvested restricted shares as of December 31, 2021 (Weighted average grant date) | $ / shares | $ 23.45 |
NBA Warrants [Member] | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Unvested restricted shares as of December 31,2020 (Number of shares) | 0 |
Number of other equity instruments granted | 9,229,797 |
Unvested restricted shares as of December 31, 2021 (Number of shares) | 9,229,797 |
Exercisable as of December 31, 2021 (Number of warrants) | 1,845,959 |
Unvested restricted shares as of December 31, 2021 (Number of shares) | 7,383,838 |
Unvested restricted shares as of December 31, 2020 (Weighted average grant date) | $ / shares | $ 0 |
Granted (Weighted average grant date) | $ / shares | 0.01 |
Unvested restricted shares as of December 31, 2021 (Weighted average grant date) | $ / shares | $ 0.01 |
Share-Based Payments - Addition
Share-Based Payments - Additional Information (Details) | Nov. 16, 2021$ / shares | Jul. 22, 2021EUR (€)shares | Dec. 31, 2021EUR (€)yrshares | Dec. 31, 2021EUR (€)yr$ / sharesshares | Dec. 31, 2020EUR (€)sharesyr | Dec. 31, 2020EUR (€)yr$ / shares | Dec. 31, 2019EUR (€) | Dec. 31, 2022 | Jul. 22, 2021$ / shares |
Statements [Line Items] | |||||||||
Expense from share-based payment transactions | € (15,431,000) | € (2,327,000) | |||||||
Treasury shares | 1,970,000 | € 1,970,000 | |||||||
License agreement term | 10 years | ||||||||
Adjustment to paid In capital fair value of equity instruments granted | € 27,965,000 | ||||||||
Class A Share Capital [Member] | |||||||||
Statements [Line Items] | |||||||||
Stock options to acquire common stock | shares | 33,513 | 33,513 | |||||||
Phantom Option Plan [Member] | |||||||||
Statements [Line Items] | |||||||||
Share based payment arrangement plan modification cost | € 193,000 | ||||||||
Percentage of serviced based component | 30.00% | ||||||||
Percentage of Equity Value Based Component | 70.00% | ||||||||
Description of vesting requirements for share-based payment arrangement | he service-based component vests over five years from the year of grant, subject to the occurrence of an exit event within the five year period. | ||||||||
Expected dividend as percentage, share options granted | 0.00% | ||||||||
Fair value at grant date | 1,352.74 | 1,352.74 | |||||||
Management Participation Plan [Member] | |||||||||
Statements [Line Items] | |||||||||
Number of share options granted in share-based payment arrangement | 7,501 | 303,646 | |||||||
Share based payment arrangement plan modification cost | € 0 | ||||||||
Expense from share-based payment transactions | 5,607,000 | 1,290,000 | € 0 | ||||||
Fair value at grant date | € 759,840 | € 759,840 | 149,000 | € 149,000 | € 71,000 | ||||
Reversal of expense from share-based payment transactions | € 0 | ||||||||
Weighted average exercise price of share options granted in share-based payment arrangement | $ / shares | € 108.66 | € 74 | |||||||
Number of share options forfeited in share-based payment arrangement | 3,589 | 53,572 | |||||||
Number of additional share options granted in share based payment arrangement | shares | 45,008 | ||||||||
Number of share options outstanding in share-based payment arrangement | 295,082 | 295,082 | 298,994 | ||||||
Omnibus Stock Plan [Member] | |||||||||
Statements [Line Items] | |||||||||
Description of vesting requirements for share-based payment arrangement | The service-based component vests over 4 years from the year of grant and for some cases over 1 year. | ||||||||
Expense from share-based payment transactions | € 1,149,000 | ||||||||
Stock Options [Member] | Phantom Option Plan [Member] | |||||||||
Statements [Line Items] | |||||||||
Number of share options granted in share-based payment arrangement | 68 | 2,529 | 946 | ||||||
Weighted average exercise price of share options granted in share-based payment arrangement | $ / shares | € 4,081.36 | ||||||||
Number of share options forfeited in share-based payment arrangement | yr | 78 | ||||||||
Number of share options outstanding in share-based payment arrangement | yr | 3,475 | 3,475 | |||||||
Stock Options [Member] | Omnibus Stock Plan [Member] | |||||||||
Statements [Line Items] | |||||||||
Number of share options granted in share-based payment arrangement | yr | 33,513 | ||||||||
Weighted average exercise price of share options granted in share-based payment arrangement | $ / shares | € 27 | ||||||||
Number of share options outstanding in share-based payment arrangement | yr | 33,513 | 33,513 | 0 | 0 | |||||
Restricted Share Units [Member] | Phantom Option Plan [Member] | |||||||||
Statements [Line Items] | |||||||||
Expense from share-based payment transactions | € 1,681,000 | € 1,037,000 | |||||||
Option To Acquire Class A Shares [Member] | |||||||||
Statements [Line Items] | |||||||||
Class Of warrant or right number of shares called by warrants or rights | shares | 1,116,540 | ||||||||
Class of warrant or right exercise price of warrants or rights | $ / shares | $ 8.96 | ||||||||
Additional offering | € 30,000 | ||||||||
NHL Warrants [Member] | |||||||||
Statements [Line Items] | |||||||||
Class Of warrant or right number of shares called by warrants or rights | shares | 1,353,740 | ||||||||
Class of warrant or right subscription price of warrants or rights | $ / shares | $ 23.45 | ||||||||
NBA Warrants [Member] | |||||||||
Statements [Line Items] | |||||||||
Class of warrant or right exercise price of warrants or rights | $ / shares | $ 0.01 | ||||||||
Partnership agreement term | 8 years | ||||||||
Percentage of entity outanding Class A ordinary shares exercisable on vesting of warrants | 3.00% | ||||||||
Percentage of warrants vesting on date of agreement | 20.00% | ||||||||
Percentage of warrants vesting on license approval date | 80.00% |
Subsequent events - Addtional I
Subsequent events - Addtional Information (Detail) $ in Millions | Mar. 29, 2022USD ($) |
Sportradar US, LLC [member] | Subsequent Event [member] | |
Statements [Line Items] | |
Payment to Acquire Minority Interest | $ 32 |
List of consolidated entities -
List of consolidated entities - Summary Of Consolidated Entities (Detail) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Subsidiaries [member] | Sportradar AG, Switzerland [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 99.99% | 99.99% |
Subsidiaries [member] | DataCentric Corporation, Philippines [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sport Data AG, Switzerland [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar AB, Sweden [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar Americas Inc, USA [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar Solutions LLC, USA [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar US LLC, USA [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 93.00% | 93.00% |
Subsidiaries [member] | MOCAP Analytics Inc., USA [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar AS, Norway [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar Australia Pty Ltd, Australia [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar Germany GmbH, Germany [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar GmbH, Germany [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar GmbH, Austria [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar informaticijske tehnologije d.o.o., Slovenia [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar Latam S.A., Uruguay [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar Malta Limited, Malta [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar Managed Trading Services Limited, Gibraltar [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar O, Estonia [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar Polska sp. z o.o., Poland [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar Singapore Pte.Ltd, Singapore [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar UK Ltd, UK [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar Virtual Gaming GmbH, Germany [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar SA (PTY) LTD, South Africa [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar Media Services GmbH, Austria [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Optima Information services S.L.U., Spain [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Optima Research Development S.L.U., Spain [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Optima BEG d.o.o., Serbia [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Optima Gaming U.S.Ltd, USA [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Optima Gaming Operations U.S.Ltd, USA [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar Data Technologies India LLP, India [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Interact Sport Pty, Australia [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | |
Subsidiaries [member] | Interact Sport Pty, UK [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | |
Subsidiaries [member] | Atrium Sports, Inc. , USA [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | |
Subsidiaries [member] | Atrium Sports Ltd , UK [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | |
Subsidiaries [member] | Atrium Sports Pty Ltd , Australia [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | |
Subsidiaries [member] | Synergy Sports Technology LLC , USA [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | |
Subsidiaries [member] | Keemotion Group Inc., USA [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | |
Subsidiaries [member] | Synergy Sports, SRL, Belgium [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | |
Subsidiaries [member] | Keemotion LLC, USA [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | |
Subsidiaries [member] | Synergy Sports Lab, Switzerland [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | |
Subsidiaries [member] | Sportradar Slovakia s.r.o. [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | |
Subsidiaries [member] | Sportradar Capital Sarl SPA, Luxembourg [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar Jersey Holding Ltd, UK [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Sportradar Management Ltd, UK [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | 100.00% |
Subsidiaries [member] | Fresh Eight Ltd., UK [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | |
Subsidiaries [member] | Slam InvestCo S. r.l., Luxembourg [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | |
Subsidiaries [member] | Sportradar Holding AG, Switzerland [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in subsidiary | 100.00% | |
Associates [member] | Nsoft d.o.o, Bosnia and Herzegovina [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in associate | 40.00% | 40.00% |
Associates [member] | Bayes Esports Solutions GmbH, Germany [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in associate | 42.58% | 42.58% |
Associates [member] | SportTech AG, Switzerland [Member] | ||
Disclosure of information about consolidated structured entities [line items] | ||
Proportion of ownership interest in associate | 49.00% |