Tipp24 Shifts focus from German market to International growth
Tuesday November 6,2012 : TIPP24 TICKING ALONG
Shifts focus from German market to International growth
German firm Tipp24SE presented its performance report on the first nine months of 2012, saying it will focus its future activities on growing its international business.
Key performance highlights include:
‘- Consolidated revenue up 1.7 percent to Euro 105.1 million (9M/2011: Euro 103.3 million)
– EBIT up 14.5 percent to Euro 47.5 million (9M/2011: Euro 41.5 million) attributed to special items relating to the spin-off of its Lotto24 AG (see previous InfoPowa report).
– Growth in consolidated net profit of 37.7 percent to Euro 36.6 million (9M/2011: Euro 26.6 million)
– The firm's abroad segment yielded revenues of Euro 105.4 million, flat compared to the same period last year (9M/2011: Euro 105.0 million)
– The German segment posted revenue of Euro 0.4 million (9M/2011: Euro 0.5 million)
Dr. Hans Cornehl, Chairman of the Executive Board of Tipp24SE said: "Tipp24 SE will focus on expansion of its successful foreign business in future, and in particular on the establishment of a new international business division dedicated to providing internet services for lottery operators."