Tipp24: High winnings payments burden earnings

Tipp24 SE / Half Year Results/Change in Forecast
05.08.2010 06:53

Dissemination 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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Tipp24's financial figures were significantly affected by a statistical special item in the first half of the current fiscal year: MyLotto24 Limited, a fully consolidated minority shareholding, recorded jackpot winnings of EUR 11.7 million from a secondary lottery which it held in May. The total amount paid out for lottery winnings in the first half of 2010 thus exceeded the statistical average by EUR 17.9 million. This led to a negative EBIT effect of EUR 16.6 million.

The consolidated revenues of Tipp24 in the first six months of 2010 amounted to EUR 40.6 million. The year-on-year decline of 24.8% (prior year: EUR 54.0 million) resulted mainly from high winnings payments and positive special items in the first quarter of 2009. The consolidated EBIT result amounted to EUR 6.5 million in the first half of 2010 (prior year: EUR 22.7 million). Consolidated net profit fell to EUR 3.7 (17.3) million.
In the Germany segment, revenues amounted to EUR 1.6 (1.4) million and EBIT totalled EUR -4.0 (-6.8) million. Revenues generated by the Abroad segment reached EUR 40.3 (53.2) million, while EBIT fell to EUR 10.0 (29.8) million.

Against the backdrop of winnings payments made by MyLotto24 Limited well above the statistical average, the Executive Board has adjusted its forecast for the current fiscal year 2010. Assuming business progresses as normal in the remaining months of 2010 - i.e. no very large jackpots and winnings payments around the statistical average - Tipp24 has reduced its current EBIT forecast of at least EUR 40 million to a result of at least EUR 20 million. The original revenue forecast of at least EUR 100 million has been adjusted to at least EUR 90 million.


05.08.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de

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