Tipp24: High winnings payments burden earnings

Aug 05, 2010 8:53 AM

Tipp24 SE / Half Year Results/Change in Forecast

05.08.2010 06:53

Dissemination 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.

---------------------------------------------------------------------------

Tipp24's financial figures were significantly affected by a statistical
special item in the first half of the current fiscal year: MyLotto24
Limited, a fully consolidated minority shareholding, recorded jackpot
winnings of EUR 11.7 million from a secondary lottery which it held in May.
The total amount paid out for lottery winnings in the first half of 2010
thus exceeded the statistical average by EUR 17.9 million. This led to a
negative EBIT effect of EUR 16.6 million.

The consolidated revenues of Tipp24 in the first six months of 2010
amounted to EUR 40.6 million. The year-on-year decline of 24.8% (prior
year: EUR 54.0 million) resulted mainly from high winnings payments and
positive special items in the first quarter of 2009. The consolidated EBIT
result amounted to EUR 6.5 million in the first half of 2010 (prior year:
EUR 22.7 million). Consolidated net profit fell to EUR 3.7 (17.3) million.

In the Germany segment, revenues amounted to EUR 1.6 (1.4) million and EBIT
totalled EUR -4.0 (-6.8) million. Revenues generated by the Abroad segment
reached EUR 40.3 (53.2) million, while EBIT fell to EUR 10.0 (29.8)
million.

Against the backdrop of winnings payments made by MyLotto24 Limited well
above the statistical average, the Executive Board has adjusted its
forecast for the current fiscal year 2010. Assuming business progresses as
normal in the remaining months of 2010 - i.e. no very large jackpots and
winnings payments around the statistical average - Tipp24 has reduced its
current EBIT forecast of at least EUR 40 million to a result of at least
EUR 20 million. The original revenue forecast of at least EUR 100 million
has been adjusted to at least EUR 90 million.


05.08.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------
 
Language:     English
Company:      Tipp24 SE
              Straßenbahnring 11
              20251 Hamburg
              Deutschland
Phone:        +49 (0)40 325533-0
Fax:          +49 (0)40 325533-77
E-mail:       office@tipp24.de
Internet:     www.tipp24-se.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
 
---------------------------------------------------------------------------