DGAP-News: JAXX records highest quarterly revenue in history of company
(firmenpresse) - DGAP-News: JAXX SE / Key word(s): Preliminary Results
JAXX records highest quarterly revenue in history of company
31.01.2011 / 08:30
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JAXX records highest quarterly revenue in history of company
- Record revenue in Q4 rise to EUR 41.0 million
- Q4 EBIT negative due to intensified marketing activities
- Capital increase planned to finance growth
Kiel, January 31, 2011 -- JAXX SE (ISIN DE000A0JRU67), listed in the Prime
Standard of Deutsche Börse, achieved consolidated revenues from continuing
operations of EUR 41.0 million in the fourth quarter of 2010 according to
provisional, unaudited figures - the highest quarterly revenue in the
history of the company. This compares with EUR 37.3 million in the
prior-year quarter (+10 percent). Compared with Q3 2010, revenues rose by
60 percent.
Growth was driven by the sports betting area, on which the JAXX Group has
been focusing since its restructuring last year. In the fourth quarter,
EBIT from continuing operations amounted to EUR -1.5 million (previous
year: EUR 0.3 million), this figure being influenced on the one hand by a
weak performance in the crisis-hit Spanish market and on the other hand by
a significant increase in the marketing budget for the expansion of sports
betting business.
This is part of the JAXX Group's new strategy. It is generally expected
that the sports betting market in Germany is about to undergo comprehensive
liberalisation. JAXX is now preparing for this process with the myBet brand
and strengthening its market position. JAXX expects that over the next few
months the federal state governments will prepare new legislation, to take
effect from 2012, that will permit the licensing of private sports betting
in Germany. In September 2010 the ECJ had prepared the way for
liberalisation in Germany through its high-profile ruling. Through the
myBet brand, JAXX aims to establish its position among the top three sports
betting providers.
For the 2010 financial year as a whole, provisional figures show that the
JAXX Group increased its revenue from continuing operations by 17 percent
to EUR 134.0 million (previous year: EUR 114.5 million). EBIT remained
negative due to the increased marketing costs and one-off expenses for
restructuring as well as weak business in Spain, but improved year on year
from EUR -2.8 million to EUR -2.4 million.
At the end of the year, the additional financial resources being channelled
into marketing were bringing in an average of 4,500 new active sports
betting customers per month, compared with a previous monthly average of
just 2,500. In the shop segment, almost 90 new shops were opened in the
last month' of the year. myBet aims to become market leader in the offline
segment.
To finance its further growth, JAXX SE intends to implement a capital
increase by way of a rights issue that will be suitably timed to respond to
positive market signals and will be aimed at exclusively the company's
existing shareholders. JAXX intends to use the proceeds of the issue to
acquire around 80,000 new active customers in 2011, open some 400 new myBet
betting shops and further develop the myBet brand through sponsorship
measures.
JAXX will publish the 2010 Annual Report with the final, audited figures
and a detailed outlook on March 31, 2011.
Disclaimer:
This press release contains statements about the future development ofthe
JAXX Group. These future-related statements are based on the current
expectations, conjectures and forecasts of the Management Board as well as
on information currently available to it, and have been compiled to the
best of its knowledge. With regard to such future-related statements, no
guarantee can be given that the future developments and results described
will materialise, nor any liability accepted if they do not. Rather, these
future developments and events are dependent on a large number of factors.
They entail risks and imponderables that are outside the company's control
and are based on assumptions that may prove to be inaccurate.
Notwithstanding the legal provisions on the correcting of forecasts, we
give no undertaking to update the future-related statements made in this
press release. Please see our company website www.jaxx-se.com for all
important financial dates.
About JAXX:
JAXX SE, listed in the Prime Standard of Deutsche Börse, is a financial
holding company with holdings in international companies in the gaming
industry. JAXX currently holds interests in companies in Germany, the UK,
Spain, Austria and Malta. JAXX SE has its headquarters in Kiel. The holding
companies cover the entire spectrum of the games and gambling industry.
Depending on national regulatory structures, they broker or market sports
and horse betting, lotteries, and casino and poker games. The shares of
JAXX SE have been traded at Deutsche Börse since 1999 under ISIN
DE000A0JRU67.
Contact:
JAXX SE
Investor Relations&Corporate Communications
Stefan Zenker
Tel. +49 (40) 85 37 88 47
Fax +49 (40) 85 37 88 30
Mail stefan.zenker(at)jaxx.com
End of Corporate News
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31.01.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: JAXX SE
Jägersberg 23
24103 Kiel
Deutschland
Phone: +49 (0)431 88 104-0
Fax: +49 (0)431 88 104-40
E-mail: ir(at)jaxx.com
Internet: www.jaxx-se.com
ISIN: DE000A0JRU67
WKN: A0JRU6
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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110422 31.01.2011
Datum: 31.01.2011 - 08:30 Uhr
Sprache: Deutsch
News-ID 33082
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