Tipp24 SE / Change in Forecast
31.08.2014 14:22
Dissemination of a Regulatory Announcement, 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
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
Category Code: MSC
TIDM:
Sequence Number: 2221
Time of Receipt: Aug 31, 2014 13:49:04
End of Announcement DGAP News-Service
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(END) Dow Jones Newswires
August 31, 2014 08:22 ET (12:22 GMT)
