Tipp24 AG: Half-year figures 2009 and change in Executive Board

Tipp24 AG / Quarter Results/Change of Personnel
Release 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.

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The first half of the current fiscal year 2009 was dominated by the start of the Internet ban in Germany introduced by the State Treaty on Gaming. In this difficult environment, the company's German segment posted its first negative half-year EBIT since 2001, amounting to EUR -6.8 million (prior year: EUR +5.4 million). The focused expansion of international operations, however, enabled EBIT outside Germany to grow to EUR 29.8 million (prior year: EUR -1.0 million). Consolidated EBIT grew by around EUR 18 million to EUR 22.7 million in the first six months of the current fiscal year, while the EBIT margin rose by 28.5 percentage points to 48.9 percent. Consolidated net profit improved to EUR 17.3 million (prior year: EUR 3.5 million). In the period under review, consolidated revenues grew by 115.9 percent to EUR 46.6 million.

The Executive Board expects revenues to rise to at least EUR 85 million for 2009 as a whole. In the same period, operating profit before interest and tax (EBIT) will reach at least EUR 40 million. The payment of unusually high or frequent winnings, however, would burden these two figures. Tipp24 AG will continue its political lobbying in the second half of the year and utilise all available appeal possibilities to contest those restrictions of the State Treaty on Gaming which we believe contravene EU law.
In coordination with the Supervisory Board and Executive Board, and on amicable terms, the joint founder and Chairman of the Executive Board of Tipp24 AG, Jens Schumann, is to retire from the Executive Board as of 30 September 2009. He will continue to assist the company in an advisory capacity. Until further notice, the current Chief Financial Officer, Dr. Hans Cornehl, will lead Tipp24 AG alone as of 1 October 2009.

Tipp24 AG
Frank Hoffmann 
Investor Relations
Tel.: +49 40 32 55 33-142
E-mail: frank.hoffmann@tipp24.de
Internet: www.tipp24-ag.de


03.08.2009  Financial News transmitted by DGAP

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Language:     English
Issuer:       Tipp24 AG
              Straßenbahnring 13
              20251 Hamburg
              Deutschland
Phone:        +49 (0)40 325533-0
Fax:          +49 (0)40 325533-77
E-mail:       office@tipp24.de
Internet:     www.tipp24-ag.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  

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