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Tipp24 AG Confirms FY 2013 Revenue and EBIT Guidance; Announces Joint Venture with Geonomics


Wednesday, 6 Nov 2013 03:07am EST 

Tipp24 AG announced that it still expects to achieve revenues of EUR 130 to 140 million and EBIT of EUR 20 to 30 million in fiscal year 2013. This forecast takes account of costs for necessary adjustments to hedging structures in the Company's secondary lottery business and additional, mostly non-recurring, costs for the preparation of new business fields totalling EUR 11 million. According to I/B/E/S Estimates, analysts on average are expecting the Company to report revenue of EUR 138.8 million and EBIT of EUR 32.56 million for fiscal year 2013. The Company also announced that after already acquiring a stake in the UK-based Geonomics Global Games Limited in December 2012, Tipp24 AG founded a joint venture with Geonomics on October 1, 2013 to jointly market their 'GeoLotto' products to end-users in the UK. Tipp24 AG holds a 50% stake in GeoLotto Limited, based in London. 

Company Quote

32.0
-1.61 -4.79%
15 Aug 2014