DGAP-News: Tipp24 SE / Key word(s): Quarter Results
Tipp24 SE: Revenue and EBIT in late September already in excess of
annual target figures
08.11.2011 / 08:01
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Press release
Report on the first nine months of 2011
Tipp24: Revenue and EBIT in late September already in excess of annual
target figures
- Consolidated revenue up by over 58 percent to EUR 105.4 million
- Consolidated EBIT grows to EUR 40.4 million
- Revenue in 2011 expected to reach at least EUR 130 million
(Hamburg, 8 November 2011) In the third quarter of 2011, Tipp24 seamlessly
continued the success of its first two reporting periods and already
exceeded on 30 September 2011 its revenue and EBIT forecasts made in early
2011. Consolidated revenue rose by 58.4 percent to EUR 105.4 (prior year:
66.5) million - the company's Abroad segment once again contributing the
lion's share. Consolidated EBIT almost tripled to EUR 40.4 (13.6) million.
Tipp24 continued to benefit from a more favourable payout statistic
compared to last year, as well as from the settlement in the second quarter
of a legal dispute of MyLotto24 Limited concerning the payment of an
insurance amount.
Schleswig-Holstein adopts its own gaming legislation - fair conditions for
private lottery brokers to operate on the market as of January 2012
Jurisdiction in Germany remains inconsistent regarding the interpretation
of a clear ruling by the European Court of Justice (ECJ). The state of
Schleswig-Holstein therefore adopted a new forward-looking state law on
gaming in September which will come into force on 1 January 2012. In
observance of the EU regulations, it does not place any restrictions on the
online brokerage or advertising of lotteries, nor require brokers to seek
prior permission. The law is thus a major milestone in Germany's regulatory
development.
Dr. Hans Cornehl, CEO of Tipp24 SE, states: 'The draft legislation of
Germany's other 15 federal states once again jeopardizes the lottery
monopoly by continuing to justify the extensive restrictions placed on
private lottery brokers with the dangers of addiction - dangers which
simply do not exist'. The German Federal Centre for Health Education
(Bundeszentrale für gesundheitliche Aufklärung - BZgA) recently published
an extensive study on the dangers of addiction to various games of chance.
According to the BZgA, there is 'no such risk' for participation in
lotteries. The governing parties in Schleswig-Holstein were quick to
recognize this fact and have adopted legislation which finally puts an end
to the hypocritical argument of lottery addiction. 'We are appealing to the
15 state premiers to take Schleswig-Holstein's decision into
consideration,' says Cornehl. Varying regulations in the 16 federal states
would also endanger the lottery monopoly, as this would obviously
contravene EU law.
Forecast
Tipp24 SE expects consolidated EBIT of around EUR 40 million and revenue of
now at least EUR 130 million in its fiscal year 2011. This forecast takes
into consideration uncertainties regarding negative statistical
fluctuations and increased costs for re-establishing business in Germany of
up to EUR 10 million.
Quarter comparison: Q.III 2011 / Q.III 2010
<pre>
in EUR thsd. 2011 2010
Revenue 35,324 25,890
- Germany 784 753
- Abroad 35,168 25,730
EBIT 6,895 7,080
- Germany -2,112 -2,330
- Abroad 9,583 9,916
Net profit 3,276 4,683
</pre>
Nine-month comparison: 2011 / 2010
<pre>
in EUR thsd. 2011 2010
Revenue 105,397 66,526
- Germany 2,534 2,309
- Abroad 104,935 66,029
EBIT 40,416 13,620
- Germany -5,918 -6,360
- Abroad 47,861 19,956
Net profit 26,605 8,382
</pre>
(Possible rounding differences due to presentation in EUR thousand)
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.
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.de/presse/
End of Corporate News
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08.11.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Tipp24 SE
Straßenbahnring 11
20251 Hamburg
Germany
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
End of News DGAP News-Service
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145060 08.11.2011
