Preliminary figures show Tipp24 exceeded own forecasts for fiscal year 2010 and posted record earnings

Jan 20, 2011 10:03 AM

Tipp24 SE / Key word(s): Change in Forecast/Preliminary Results

20.01.2011 / 09:03

Preliminary figures show Tipp24 exceeded own forecasts for fiscal year 2010
and posted record earnings

* Strong revenues and earnings in unstable regulatory environment
* Return to German market planned

(Hamburg, 20 January 2011) According to preliminary and unaudited figures,
Tipp24 SE exceeded its own forecasts for fiscal year 2010 and posted its
best-ever revenues and earnings. In August 2010, Tipp24 had downgraded its
consolidated revenue forecast from originally EUR 100 million to EUR 90
million and its EBIT forecast from originally EUR 40 million to EUR 20
million. Following an exceptionally strong fourth quarter, Tipp24 now
expects consolidated revenues for 2010 to reach approx. EUR 104 (prior
year: 89.6) million. This would correspond to revenue growth of around 15%.

There was also strong growth in EBIT, from EUR 23.1 million in the previous
year to an expected figure of around EUR 30 million in fiscal year 2010.
Consolidated net profit is expected to reach approx. EUR 19 (17.5) million.
This would result in preliminary earnings per share of approx. EUR 2.46
(2.26). Consolidated cash and cash equivalents at the end of 2010 amounted
to around EUR 92 (81.1) million.

Tipp24 SE intends to announce its forecast for fiscal year 2011 at its
annual press conference on 30 March 2010.

Dr. Hans Cornehl, sole Executive Board member of Tipp24 SE, states: 'Tipp24
has once again performed exceptionally well in a difficult and unstable
regulatory environment. We forecast a stable development for 2010 - apart
from the statistical fluctuations inherent in lotteries. This expectation
was easily exceeded. The success of the past year once again demonstrates
Tipp24's ability to generate sustainable revenue and earnings growth - even
in an environment marked by constant change. This is largely due to our
special corporate culture, in which an  ability for rapid change is firmly
anchored.'

Tipp24 plans to return to the German market in 2011. In September 2010, the
European Court of Justice (ECJ) had questioned Germany's monopoly
regulations, as they did not coherently and consistently tackle the problem
of gambling addiction - the declared aim of the lottery and sports betting
monopolies. These doubts have since been confirmed by Germany's Federal
Administrative Court and Federal Supreme Court. As a result, the country's
federal states are currently considering changes to the State Treaty on
Games of Chance and a decision is expected for March.

'We appeal to the state premiers to use this opportunity to create sensible
and forward-looking conditions for the online brokerage of harmless
lotteries,' says Dr. Cornehl. 'This would mean that desperately needed
taxes and special-purpose duties which have been unnecessarily lost as a
result of the State Treaty on Games of Chance could finally be used once
again for social and cultural institutions, as well as for popular sports.'

Press contact:
Tipp24 SE       
Andrea Fratini       
Head of Media and Public Relations 
Tel.: +49 40 32 55 33-660    
E-mail: presse@tipp24.de    
Internet: www.tipp24-se.de/presse/

About Tipp24 SE: Tipp24 SE (formerly Tipp24 AG) was founded in September
1999 and holds equity interests in a number of companies in Spain, Italy
and the UK, which enable participation in lottery-based games via the
Internet, especially via the websites www.ventura24.es, www.giochi24.it,
www.mylotto24.co.uk and www.tipp24.com. In Germany, Tipp24 Entertainment
GmbH operates the games platform www.tipp24games.de. From its foundation to
the end of 2008, Tipp24 SE brokered tickets worth over 1.5 billion euros to
the state lottery companies - in recent years over 330 million euros
annually. Following its successful IPO in 2005 (Prime Standard), the
company was admitted to the SDAX index in June 2009 and has been trading as
a European public limited company since December 2009.


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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                                                
Listed:      Regulierter Markt in Frankfurt (Prime Standard);      
             Freiverkehr in Berlin, Düsseldorf, Hamburg, München,  
             Stuttgart                                             
 
 
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