Tipp24 SE: Adjustment of forecast due to winnings payout

Tipp24 SE / Key word(s): Change in Forecast
31.08.2014 14:19

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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In a secondary lottery held by MyLotto24 Limited, a fully consolidated minority shareholding of Tipp24 SE, a player has won a jackpot of approximately EUR 44 million.

Ca. 74% of the prize payout is covered by hedging instruments established by MyLotto24. Taking into account this indemnity payment as well as lower gaming duties resulting from the prize payout, consolidated EBIT in the current fiscal year 2014 will be burdened by approximately EUR 5 million.
Although consolidated revenue will be negatively affected by the full amount of the prize payout, the indemnity payment will be accounted for as other operating income and will increase the total operating performance accordingly.

Due to the increase of winnings payouts made by MyLotto24 Limited above the statistical average, the Executive Board has adjusted its forecast for the current fiscal year 2014. Assuming a normal course of business in the remaining fiscal year (i.e. absence of very large jackpots, winnings payouts around the statistical average), Tipp24 is lowering its current EBIT forecast of EUR 15-25 million to EUR 10-20 million. The previous revenue forecast of EUR 135-145 million is being adjusted to approximately EUR 90-100 million based on the same assumptions.


31.08.2014 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Tipp24 SE
              25 Southampton Buildings
              WC2A 1AL London
              United Kingdom
Phone:        +44 (0)20 3739-7123
Fax:          +44 (0)20 3739-7199
E-mail:       frank.hoffmann@tipp24.co.uk
Internet:     www.tipp24.co.uk
ISIN:         GB00BHD66J44
WKN:          TPP024  
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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