Tipp24: Stable through the crisis

Nov 02, 2009 8:16 AM

Tipp24 AG / Quarter Results

02.11.2009 

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In the first nine months of fiscal 2009, Tipp24 made very successful
progress: revenues grew by 62.8 percent to EUR 53.7 (prior year: EUR 33.0)
million in the period under review. Compared with the previous year, EBIT
more than quintupled: from EUR 6.3 million to EUR 33.1 million.
Consolidated net profit improved to EUR 25.1 million (prior year: EUR 4.7
million).

As a result of the strong focus placed on expanding the company's
international business, revenues in the Abroad segment rocketed to EUR 52.9
(4.2) million. EBIT in this segment grew to EUR 42.7 (-1.6) million.

In September 2009, the UK minority holding MyLotto24 Ltd. offered players
the chance to win an exceptionally high jackpot of EUR 31.7 million and
soon after paid out the winnings. In addition to income from hedging
transactions, an unexpectedly high gaming volume of MyLotto24 Ltd. and a
tax credit formed in connection with the large winnings, with an impact on
earnings, helped compensate for the negative effect from the winnings
payment.

As a result of the virtually complete withdrawal of our business base
following the introduction of the German State Treaty on Gaming, revenues
of our Germany segment fell by 91.9% to EUR 2.3 (28.8) million in the first
nine months of the current fiscal year. EBIT fell to EUR -9.3 (+7.9)
million over the same period.

In view of the exceptionally high winnings payment in September, the
company had reduced its consolidated EBIT forecast by EUR 10 million to at
least EUR 30 million for fiscal year 2009.

Tipp24 AG now retracts this restriction and has raised its consolidated
EBIT forecast by EUR 13 million to EUR 43 million for the current fiscal
year. Revenues are expected to reach at least EUR 73 million, and after
income from hedging transactions the total performance forecast amounts to
at least EUR 95 million.


02.11.2009  Financial News transmitted by DGAP

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Language:     English
Company:      Tipp24 AG
              Straßenbahnring 13
              20251 Hamburg
              Deutschland
Phone:        +49 (0)40 325533-0
Fax:          +49 (0)40 325533-77
E-mail:       office@tipp24.de
Internet:     www.tipp24-ag.de
ISIN:         DE0007847147
WKN:          784714
Indices:      SDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, München, Hamburg, Stuttgart
 
End of News                                     DGAP News-Service
 
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