Tipp24 SE: Revenue and EBIT 2012 largely on target, EBIT guidance for 2013 downgraded

Tipp24 SE / Key word(s): Change in Forecast
20.03.2013 15:07

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Tipp24 SE largely achieved its targets in fiscal
year 2012, but expects consistently high costs in 2013. The company has therefore downgraded its earnings forecast while upholding its revenue projection for the current fiscal year.

Tipp24 SE had forecast consolidated revenues of EUR 130 million and a consolidated EBIT result of EUR 48 million for its fiscal year 2012. The forecast also included a deduction for risks of EUR 10 million to account for negative statistical fluctuations in payouts for its secondary lottery business, which did not turn out to be necessary.

Revenues of Tipp24 in fiscal 2012 actually amounted to EUR 142.7 (prior year: 139.3) million. Unadjusted earnings before interest and taxes (EBIT) were raised from EUR 51.9 million to EUR 56.5 million, thus reaching their highest level in the company's history.

Adjusted for chance effects, consolidated revenues of EUR 128.6 million were slightly below the adjusted prior-year figure of EUR 131.1 million, while EBIT adjusted for chance effects and other special items amounted to EUR 32.2 million and thus fell somewhat short of the adjusted prior-year figure of EUR 38.9 million.

A major reason for the difference in revenues is the comparatively low number of jackpot draws for the core product 'Lotto 6/49' in 2012. In addition to this revenue effect, EBIT was burdened by an adverse product mix, costs for the expansion of new businesses and extraordinary consultancy costs in connection with hedging transactions.
After consideration of price increases, Tipp24 SE expects to achieve revenues in the range of EUR 130 to 140 million and EBIT of EUR 20 to 30 million in its fiscal year 2013. This forecast takes account of costs for further necessary adjustments to hedging structures in its secondary lottery business and additional, mostly non-recurring, costs for the preparation of new business fields totalling EUR 15 million. The stated ranges for revenues and EBIT also take account of statistical fluctuations in payouts for the secondary lottery business.

The complete Annual Report 2012 is due to be published on 28 March 2013.

20.03.2013 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language:     English
Company:      Tipp24 SE
              Straßenbahnring 11
              20251 Hamburg
              Germany
Phone:        Tel.: +49 (0)40 325533-142
Fax:          +49 (0)40 325533-5600
E-mail:       ir@tipp24.de
Internet:     www.tipp24-se.de
ISIN:         DE0007847147
WKN:          784714
Indices:      SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart  
End of Announcement DGAP News-Service  

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