DGAP-News: Tipp24 SE: Report on the first six months of 2013

DGAP-News: Tipp24 SE: Report on the first six months of 2013

DGAP-News: Tipp24 SE / Key word(s): Half Year Results
Tipp24 SE: Report on the first six months of 2013

08.08.2013 / 09:12


Tipp24 SE maintains success in first half of 2013 - full-year guidance for
2013 confirmed

  - Revenue EUR 76.4 million - adjusted revenue EUR 65.7 million  

  - EBIT EUR 21.4 million - adjusted EBIT EUR 15.6 million

  - Relocation to London adopted

(Hamburg, 8 August 2013) Tipp24 SE continued its successful development in
the first half of 2013. Consolidated revenue - generated almost entirely
abroad - was up 12.1 percent to EUR 76.4 million (prior year: EUR 68.2
million), while consolidated EBIT of EUR 21.4 million fell short of its
prior-year level of EUR 38.5 million. Last year's result included special
items with a positive effect on income of EUR 18.2 million from the
spin-off of Lotto24 AG. The EBIT margin fell for the same reasons from 56.5
percent to 28.1 percent. As a consequence, consolidated net profit of EUR
15.4 million was also down on the previous year (EUR 30.0 million).
Earnings per share from continued operations amounted to EUR 1.89 (EUR
3.65) in the reporting period.

Adjusted for statistic deviations from the expected level of payouts,
consolidated revenue of EUR 65.7 million exceeded the prior-year figure of
EUR 63.1 million, while adjusted EBIT amounted to EUR 15.6 million (EUR
36.8 million).

Andreas Keil, CFO of Tipp24 SE, states: 'In our business, revenue and
earnings can be strongly influenced by deviations from the expected payout
level - which had a positive impact on EBIT of EUR 5.8 million in the first
half of 2013. These positive deviations cannot be transferred to the
future, though. As we expect a large share of planned additional costs for
establishing new businesses, restructuring the hedging profile for our
secondary lottery business and overhauling our IT platform in the second
half of the year, we are upholding our earnings forecast for the full year
in a range of EUR 20 to EUR 30 million.'

Relocation of Tipp24 SE to UK
On 28 June 2013, the Annual General Meeting of Tipp24 SE voted in favour of
relocating the company's registered office to London. The company is
planning the move as a logical consequence of its strategic realignment
with a clear focus on international business.

In order to establish the best-possible conditions for international
business, the company continued to strengthen its management team: after
expanding the Executive Board in February with the addition of Andreas
Keil, Dr. Helmut Becker joined as Chief Marketing Officer on 1 June 2013.
With his many years of experience gained at numerous management consultancy
firms and Internet companies, he will provide a strong impetus for Tipp24's
international growth.

Guidance for 2013 confirmed

After consideration of price increases, Tipp24 SE expects revenue of EUR
130 to 140 million and EBIT of between EUR 20 and 30 million for 2013. This
forecast takes account of both costs for adjustments to hedging structures
in the secondary lottery business and additional costs for the preparation
of new business fields totalling around EUR 15 million. The stated ranges
for revenue and EBIT also take account of statistical fluctuations in
payouts for the secondary lottery business.

The complete quarterly report is published on the website of Tipp24 SE
(www.tipp24.de) in the Investor Relations section.

Quarter comparison: Q2 2013/2012

in EUR   Q2 /   Q2 /   Change in       Q2 / 2013    Q2 / 2012    Change in
thsd.    2013   2012   percent         adjusted     adjusted     percent
Revenue  39,051 32,758           19.2       33,409       31,073         7.5
EBIT     9,396  26,479         - 64.5        6,337       26,314      - 75.9
profit   6,396  21,305         - 70.0            -            -           -

Half-year comparison: 2013/2012 

in EUR   H1 /   H1 /   Change in   H1 / 2013        H1 / 2012    Change in
thsd.    2013   2012   percent     adjusted         adjusted     percent
Revenue  76,424 68,194       12.1           65,737       63,058         4.2
EBIT     21,441 38,527     - 44.3           15,609       36,842     -  57.6
profit   15,398 30,034     - 48.7                -            -           -

About Tipp24 SE: Tipp24 SE was founded in September 1999 and holds equity
interests in a number of companies in Spain and the UK, which enable
participation in lottery-based games via the Internet, especially via the
websites www.ventura24.es, www.mylotto24.co.uk, www.tipp24.com and
www.geosweep.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 successfully spun off from Tipp24 SE in the form of the
company Lotto24 AG, which is listed separately on the stock exchange. With
the acquisition of a stake in the UK-based company Geonomics Global Games
Limited in December 2012, Tipp24 SE laid the foundation for the expansion
of its international business.

Press contact:
Tipp24 SE
Andrea Fratini
Head of Media and Public Relations
Tel.: +49 (0)40 32 55 33 660
E-mail: presse@tipp24.de
Internet: www.tipp24.de/press/

End of Corporate News


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Language:    English                                               
Company:     Tipp24 SE                                             
             Straßenbahnring 11                                    
             20251 Hamburg                                         
Phone:       Tel.: +49 (0)40 325533-142                            
Fax:         +49 (0)40 325533-5600                                 
E-mail:      ir@tipp24.de                                          
Internet:    www.tipp24-se.de                                      
ISIN:        DE0007847147                                          
WKN:         784714                                                
Indices:     SDAX                                                  
Listed:      Regulierter Markt in Frankfurt (Prime Standard);      
             Freiverkehr in Berlin, Düsseldorf, Hamburg, München,  
End of News    DGAP News-Service  
224839 08.08.2013                                                      
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