ZEAL Network SE: Adjustment of guidance due to prize pay-out
Mar 09, 2017 6:02 PM
ZEAL Network SE / Key word(s): Change in Forecast
Adjustment of guidance due to prize pay-out
In a secondary lottery held by MyLotto24 Limited, a fully consolidated minority shareholding of ZEAL Network SE, a player has won a prize of approximately EUR 15 million.
The pay-out amount falls within the self-retention specified in MyLotto24's hedging instruments. Total Operating Performance and EBIT in the current fiscal year 2017 will therefore be impacted by EUR 15 million.
While statistical fluctuations are inherent to the secondary lottery business model, MyLotto24 has had prize pay-outs above the statistical average in the current year to date and including the current pay-out. ZEAL has therefore adjusted its Total Operating Performance and EBIT guidance for the current fiscal year 2017. Assuming a normal course of business in the remaining year (i.e. prize pay-outs around the statistical average), ZEAL reduces its Total Operating Performance guidance for 2017 from EUR 145-155 million to EUR 130-140 million and its EBIT guidance from EUR 30-40 million to EUR 15-25 million.
ZEAL confirms its communicated intention of paying a total dividend of at least EUR 1.00 per share in the current year.
Frank Hoffmann, CEFA
5th Floor - One New Change
London EC4M 9AF
T +44 (0) 20 3739-7123
F +44 (0) 20 3739-7199
|Company:||ZEAL Network SE|
|5th Floor One New Change|
|EC4M 9AF London|
|Phone:||+44 (0)203 739-7000|
|Fax:||+44 (0)203 739-7099|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|End of Announcement||DGAP News Service|