Tipp24 Exceeds Downgraded Forecast

High comparable 2012 results are attributed to significant exceptional items

Tipp24 SE said it expects consolidated revenue of around Euro 129.9 million and an EBIT of around Euro 19.1 million in its fiscal 2013 preview.

The unaudited results follow Tipp24 downgrading its forecast for consolidated revenue late last year to Euro 124 million after a winnings payout of Euro 15.7 million.

Key performance indicators include:

– Consolidated revenue of approx Euro 129.9 million (2012: Euro 142.7 million)

– EBIT of around Euro 19.1 million (2012: Euro 56.5 million)

– Consolidated net profit of Euro 10.4 million (2012: Euro 40.9 million)

– Preliminary earnings per share from continued operations of approx. Euro 1.32 (2012: Euro 4.99)

– Available funds of Euro 138.3 million (2012: 131.7 million)

The company said its prior-year 2012 revenue and earnings were positively impacted by the disclosure of hidden reserves from the spin-off of Lotto24 AG, and an unusually low level of winnings payouts.

The Executive Board of Tipp24 SE said it will consider declaring and paying a one-off special interim dividend of Euro 7.50 per share at the end of April 2014.

Online Casino News Courtesy of Infopowa

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