Tipp24 AG: Half-year figures 2009 and change in Executive Board

Aug 03, 2009 9:21 AM

Tipp24 AG / Quarter Results/Change of Personnel

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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The first half of the current fiscal year 2009 was dominated by the start
of the Internet ban in Germany introduced by the State Treaty on Gaming. In
this difficult environment, the company's German segment posted its first
negative half-year EBIT since 2001, amounting to EUR -6.8 million (prior
year: EUR +5.4 million). The focused expansion of international operations,
however, enabled EBIT outside Germany to grow to EUR 29.8 million (prior
year: EUR -1.0 million). Consolidated EBIT grew by around EUR 18 million to
EUR 22.7 million in the first six months of the current fiscal year, while
the EBIT margin rose by 28.5 percentage points to 48.9 percent.
Consolidated net profit improved to EUR 17.3 million (prior year: EUR 3.5
million). In the period under review, consolidated revenues grew by 115.9
percent to EUR 46.6 million.

The Executive Board expects revenues to rise to at least EUR 85 million for
2009 as a whole. In the same period, operating profit before interest and
tax (EBIT) will reach at least EUR 40 million. The payment of unusually
high or frequent winnings, however, would burden these two figures. Tipp24
AG will continue its political lobbying in the second half of the year and
utilise all available appeal possibilities to contest those restrictions of
the State Treaty on Gaming which we believe contravene EU law.

In coordination with the Supervisory Board and Executive Board, and on
amicable terms, the joint founder and Chairman of the Executive Board of
Tipp24 AG, Jens Schumann, is to retire from the Executive Board as of 30
September 2009. He will continue to assist the company in an advisory
capacity. Until further notice, the current Chief Financial Officer, Dr.
Hans Cornehl, will lead Tipp24 AG alone as of 1 October 2009.


Tipp24 AG
Frank Hoffmann 
Investor Relations
Tel.: +49 40 32 55 33-142
E-mail: frank.hoffmann@tipp24.de
Internet: www.tipp24-ag.de


03.08.2009  Financial News transmitted by DGAP
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Language:     English
Issuer:       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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