DGAP-News: Lotto24 AG lays foundation for successful business ramp-up
(firmenpresse) - DGAP-News: Lotto24 AG / Key word(s): Final Results
Lotto24 AG lays foundation for successful business ramp-up
27.03.2013 / 08:17
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Press release regarding the annual financial report 2012
Lotto24 AG lays foundation for successful business ramp-up
- Key prerequisites for sustainable growth fulfilled
- Regulatory environment hampered business development in 2012
- Increase in revenues for the lottery market expected
(Hamburg, 27 March 2013) On 27 March, Lotto24 AG published its first annual
financial report as an independent publicly listed company. Although the
regulatory environment hampered business development significantly, key
milestones to enable sustainable growth were met.
In February 2012, Lotto24 AG (previously Tipp24 Deutschland GmbH) was one
of the first private companies to re-launch the online brokerage business
for state-run lotteries in the federal state of Schleswig-Holstein. The
company's IPO in July 2012 established the financial basis for its business
ramp-up.
In September 2012, Lotto24 AG was one of the first private German companies
to receive a permit for the online brokerage business for lotteries in the
remaining 15 federal states, which is a prerequisite for conducting the
business on a nationwide basis. In parallel, the company developed
interfaces to the majority of the federal state lotteries, reaching around
90% of the German population. With WEB.DE and GMX, the company signed up
two major partners.
As the brokerage permit was only issued in late September and as the
advertising permit was not issued in 2012 at all, the company could only
generate small scale revenues. During fiscal year 2012, Lotto24 reached a
transaction volume of EUR 1.08 million, resulting in revenues of EUR 93,000
(previous year: EUR 0). EBIT according to IFRS came in at a negative EUR
4.28 million (previous year: EUR -308,000). Net profit was EUR -3.06
million (previous year: EUR -248,000). Earnings per share were EUR -0.36
(previous year: EUR 0). Major cost factor during the year were investments
in preparation for the nationwide launch of the business. As of 31 December
2012, Lotto24 AG had available funds of EUR 11.16 million (previous year:
EUR 63,000).
In early 2013, Lotto24 AG reached another important milestone. As one of
the first private companies, Lotto24 AG created interfaces to now all
federal lottery administrations and launched a mobile website. Only two
weeks ago, Lotto24 AG received one of the first permits for advertising on
TV and via the Internet for the online marketing of state-run lotteries.
Lotto24 can now advertise in these media throughout Germany and benefit
from the extensive preparations to this end.
Petra von Strombeck, CEO, stated, 'In 2012, we fulfilled key prerequisites
for nationwide business activities. We are now well prepared and positioned
to give full speed ahead and to take advantage of new market
opportunities.'
The company anticipates that market liberalisation as well as the planned
price increase for the»6aus49«lottery will lead to a significant increase
in lottery market revenues. The online lottery market segment will grow at
a significantly faster rate, which will also benefit Lotto24.
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 on 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', 'EuroJackpot' and '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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27.03.2013 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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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: ir(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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205295 27.03.2013
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Datum: 27.03.2013 - 08:17 Uhr
Sprache: Deutsch
News-ID 243412
Anzahl Zeichen: 6899
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Kategorie:
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