DGAP-News: Lotto24 AG: Lotto24 AG remains on course for growth
(firmenpresse) - DGAP-News: Lotto24 AG / Key word(s): Quarter Results
Lotto24 AG: Lotto24 AG remains on course for growth
07.11.2013 / 07:31
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Lotto24 AG remains on course for growth
- Rising revenues and customer figures in third quarter of 2013
- First Annual General Meeting with large majorities for all agenda items
- Successful capital increase with net issue proceeds of around EUR 17
million
- Test winner among online lottery providers
(Hamburg, 7 November 2013) Lotto24 AG remained firmly on course for growth
in the third quarter of 2013: the number of new customer registrations rose
to 71 thousand in the third quarter of 2013 (Q2 2013: 52 thousand), taking
the total to 168 thousand. There was also further strong growth in billings
and revenues in the third quarter of 2013 to EUR 9.0 million (Q2 2013: EUR
5.3 million) and EUR 0.8 million (Q2 2013: EUR 0.5 million), respectively.
After the first nine months, billings therefore amounted to EUR 16.3
million (six months 2013: EUR 7.3 million) while revenues reached EUR 1.4
million (six months 2013: EUR 0.7 million). This positive trend owes much
to the expansion of marketing activities, such as adding Google to the
company's search engine marketing in the third quarter of 2013.
As expected, earnings are still dominated by start-up costs (especially for
new customer acquisition activities), and consequently EBIT in the third
quarter of 2013 amounted to around EUR -3.8 million (Q2 2013: EUR -3.1
million). After the first nine months of 2013, EBIT thus decreased from
around EUR -4.5 million after the first half-year to EUR -8.2 million.
Foundation laid for future growth
The first Annual General Meeting of Lotto24 AG as a listed company was held
in Hamburg on 7 August 2013. Approximately 62% of voting capital was
represented and all items on the agenda were approved with majorities of
over 96%. Amongst others the Executive Board and Supervisory Board proposed
cancelling the existing Authorized Capital and replacing it with a new
Authorized Capital.
A further important milestone for Lotto24 AG was the rights offering
conducted in September, during which the total number of shares issued by
Lotto24 AG increased from 13,973,904 to 19,962,720. By issuing all
5,988,816 new shares from Authorized Capital on offer, the company was able
to reach the targeted net issue proceeds of around EUR 17 million. In the
course of the rights offering from 12 to 25 September 2013, subscription
rights for around 99.9% of the new shares on offer were exercised.
The net proceeds from the capital increase are to be used for marketing
activities aimed at accelerating new customer acquisition and for the
further development of the company's brokerage platform. The latter is
aimed at widening the product portfolio to include further lotteries and
expanding services for state-licensed lotteries.
'We are delighted that we could meet our expectations for the third quarter
- a strong increase in registered customers, billings and revenue,' states
Petra von Strombeck, CEO of Lotto24 AG. 'The capital increase has provided
us with the funds to invest even more heavily in marketing in order to
extend our position as the leading German broker of lottery products via
the Internet. Naturally, it also helps that Lotto24 has just been named
'Best Online Lottery Broker'.' The German test portal»Getestet.de«ran a
comparison test between six online lottery brokers in October 2013, which
www.lotto24.de won with a score of 1.6 (good).
The complete nine-month report is published on the website of Lotto24 AG in
the Investor Relations section: www.lotto24-ag.de
Conference call on the nine-month results:
The Executive Board of Lotto24 AG will be explaining the figures for the
first nine months of 2013 and the current course of business in a
conference call taking place today at 9 a.m. All interested analysts,
investors and journalists can attend by calling the following number: +49
69 247501893.
About Lotto24 AG: Lotto24 is Germany's leading online broker of
state-licensed lotteries (www.lotto24.de). On behalf of its customers, the
company enters into gaming contracts with the respective lottery companies
for lottery products such as»Lotto 6aus49«,»Spiel 77«,»Super 6«,»EuroJackpot«and»Glücksspirale«. Following its foundation in 2010, the
company was one of the first private online lottery brokers to receive all
the necessary state permits in 2012, when the new State Treaty on Games of
Chance came into effect, and to resume activities on the German market.
Lotto24 AG has been listed in the Prime Standard segment of the Frankfurt
Stock Exchange since 3 July 2012. Lotto24 aims to extend its position as
Germany's leading online broker of lottery products.
Press contact:
Lotto24 AG
Vanina Hoffmann
Tel.: +49 (0) 40 / 82 22 39 - 501
E-mail: ir(at)lotto24.de
Internet: www.lotto24-ag.de
End of Corporate News
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07.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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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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238270 07.11.2013
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Datum: 07.11.2013 - 07:31 Uhr
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