Tipp24: stable progress in first nine months
Nov 6, 2012 9:12 AM
Tipp24 SE / Key word(s): Quarter Results Report on the first nine months of 2012 - Consolidated revenue up 1.7 percent - EBIT up 14.5 percent due to special items - Growth in consolidated net profit of 37.7 percent (Hamburg, 6 November 2012) Following the first successful half-year, Tipp24 continues to make stable progress. Consolidated revenue rose slightly by 1.7 percent to EUR 105.1 (prior year: 103.3) million. By contrast, consolidated earnings before interest and taxes (EBIT) grew by 14.5 percent to EUR 47.5 (41.5) million. This was mainly due to the disclosure of hidden reserves in the second quarter caused by the contribution of assets to Lotto24 AG in the German segment. The former subsidiary was successfully spun off from Tipp24 SE in July. Lotto24 brokers German lottery products via the Internet. As a result of additional positive tax effects, consolidated net profit for the first nine months improved by as much as 37.7 percent to EUR 36.6 (EUR 26.6) million. Earnings per share from continued operations amount to EUR 4.47 (3.33). In the Abroad segment, revenue was virtually unchanged at EUR 105.4 (105.0) million. In the previous year, there was a special item from a litigation settlement concerning the payment of an insurance claim. As a result, EBIT in 2012 was down strongly to EUR 37.3 (47.9) million. In Germany, Tipp24 posted revenue of EUR 0.4 (0.5) million and EBIT of EUR 9.8 As announced, Tipp24 SE will focus in future on its international business. Outlook for 2012 confirmed As forecast on publication of the half-yearly financial report, Tipp24 SE expects consolidated EBIT in the current year of at least EUR 48 million on unchanged consolidated revenue of at least EUR 130 million. This forecast includes consideration of uncertainties regarding negative statistical fluctuations amounting to EUR 10 million as well as expenses of EUR 5 million for the establishment of new business. The complete quarterly report is published in German and English on the website of Tipp24 SE (www.tipp24-se.de) in the Investor Relations section.
(Possible rounding differences due to presentation in EUR thousand) About Tipp24 SE: Tipp24 SE 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. From its foundation to the end of 2008, Tipp24 SE brokered tickets worth over 1.5 billion euros to the state lottery companies - in the latter 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. In July 2012, German online brokerage activities were successful spun off from Tipp24 SE in the form of the listed company Lotto24 AG. Press Contact: Tipp24 SE E-mail: presse@tipp24.de End of Corporate News 06.11.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's 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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