DGAP-News: Lotto24 AG: Press release on the first six months of 2012
(firmenpresse) - DGAP-News: Lotto24 AG / Key word(s): Half Year Results
Lotto24 AG: Press release on the first six months of 2012
14.08.2012 / 08:30
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Press release on the first six months of 2012
Lotto24 AG gets off to successful start as independent company
- Capital increase fully subscribed
- IPO on 3 July: first quote 20% above issue price
- Conditions for nationwide business still unclear
(Hamburg, 14 August 2012) Lotto24 AG has successfully become an independent
company: with a resolution of the Annual General Meeting of Tipp24 SE on 22
June 2012, shares in the former German subsidiary of Tipp24SE were
distributed as planned to the latter's shareholders as a dividend in kind.
In the course of the spin-off, Lotto24 AG had previously conducted a
capital increase to finance the establishment of business, during which all
newly issued shares were subscribed.
On 3 July 2012,Lotto24 was successfully listed in the Prime Standard
segment of the Frankfurt Stock Exchange as an independent public limited
company: the first quote of EUR 3.00 exceeded the issue price of EUR 2.50
by 20% - making it the most successful IPO of a German company in 2012.
The capital increase has provided Lotto24 with significant equity funding
and given it broad scope to exploit growth opportunities. Petra von
Strombeck, CEO of Lotto24 AG, states: 'Lotto24 is excellently placed to
benefit from the liberalisation of online lottery brokerage in Germany and
exploit the tremendous market opportunities.'
In February 2012, Lotto24 became the first online broker of state-run
lotteries to launch operations again in Germany since the second stage of
the German State Treaty on Games of Chance (GlüStV) was implemented on 1
January 2009 (Internet ban) - for regulatory reasons, however,still
restricted to the federal state of Schleswig-Holstein and with a limited
product range not yet widely marketed due to the uncertain legal
environment.
As a consequence, business in the first (start-up) half-year 2012 was still
extremely limited: from stakes received of EUR 72 thousand, Lotto24 AG
generated revenue of EUR 5 thousand (prior year: EUR - thousand), while
earnings before interest and taxes (EBIT) reached EUR -1,587 thousand
(prior year: EUR -121 thousand). This decline resulted mainly from costs
for the spin-off and IPO, as well as expenses in connection with the
establishment of business. The net loss for the period rose by EUR -1,026
thousand to EUR -1,141 thousand (prior year: EUR -115 thousand) and
earnings per share amounted to EUR -0.08.
Despite the introduction of the 'First State Treaty to Revise the State
Treaty on Games of Chance' (GlüÄndStV) on 1 July 2012, the conditions for a
nationwide roll-out in Germany are still not in place. The approval process
has been initiated, but the permit criteria, Internet requirements and
advertising guidelines have not been finally decided yet.
Outlook
In view of the ongoing regulatory uncertainties, Lotto24AG continues to
assume that it will be able to commence operations in most of Germany's
federal states within a period of twelve months. To this end, it plans to
sign agreements with further state lottery companies.Lotto24 aims to
subsequently step up new customer acquisition with the aid of advertising
activities and expand its product portfolio. The company also plans to
offer IT and marketing services to major online portals and lottery
companies for the operation of online lottery services.
The complete half-yearly financial report is published on the website of
Lotto24 AG in the Investor Relations section: www.lotto24-ag.de.
About Lotto24 AG: Lotto24 AG (formerly Tipp24 Deutschland GmbH) was founded
by Tipp24 SE in 2010 in order to resume the commercial online brokerage of
games of chance in Germany. Following the successful spin-off from its
parent company, Lotto24 AG has been listed as an independent company in the
Prime Standard segment of the Frankfurt Stock Exchange since 3 July 2012.
Lotto24 AG focuses on brokering state-licensed lottery products, such as
Lotto 6aus49, Spiel 77, Super 6, EuroJackpotand Glücksspirale via the
Internet (www.lotto24.de). Lotto24 enters into gaming contracts with the
respective lottery companies on behalf of and in the name of the game
participant. Lotto24 aims to become Germany's leading online broker of
lottery products.
Press contact:
Lotto24 AG
Frank Schwarz
Tel.: +49 (0) 611 / 1745 398 0
E-mail: ir(at)lotto24.de
Internet: www.lotto24-ag.de
End of Corporate News
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14.08.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Lotto24 AG
Neuer Wall 63
20354 Hamburg
Germany
Phone: +49 (0)40 8 222 39 0
Fax: +49 (0)40 8 222 39 70
E-mail: office(at)lotto24.de
Internet: www.lotto24-ag.de
ISIN: DE000LTT0243
WKN: LTT024
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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181466 14.08.2012
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Datum: 14.08.2012 - 08:30 Uhr
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