Lotto24 AG Announces Earnings Results for the Third Quarter and Nine Months Ended Sept. 30, 2016
November 08, 2016
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Lotto24 AG announced earnings results for the third quarter and nine months ended Sept. 30, 2016. For the quarter, revenues were EUR 6,386,000, EBITDA was EUR 108,000, LBIT was EUR 225,000, loss before taxes was EUR 314,000 and net profit was EUR 64,000 against revenues of EUR 3,885,000, LBITDA of EUR 3,280,000, LBIT of EUR 3,417,000, loss before taxes of EUR 3,494,000 and net loss of EUR 3,162,000 a year ago.
For the nine months, revenues were EUR 15,614,000, LBITDA was EUR 2,817,000, LBIT was EUR 3,672,000, loss before taxes was EUR 3,862,000 and net loss was EUR 1,345,000 against revenues of EUR 9,985,000, LBITDA of EUR 11,012,000, LBIT of EUR 11,347,000, loss before taxes of EUR 11,320,000 and net loss of EUR 10,113,000 a year ago. Cash outflow from operating activities was EUR 1,141,000 against EUR 7,791,000 a year ago.
Lotto24 AG is a Germany-based online broker of lottery products in Germany. The Company focuses on brokering lottery production through online, and offers customers to participate in the state-licensed lottery products includes LOTTO 6aus49, Spiel 77, Super 6, EuroJackpot, GluecksSpirale, syndicates, Keno and the German TV Lottery. The Company also enters into gaming agreements with the respective gaming operator on behalf of, and in the name of customers. The Companyâs marketing comprises four main areas of Design, Sales, Customer Relationship and Product Management. The Design area is an internal service provider for the production of all forms of graphical end-customer communication, such as advertising banners and newsletters. The Sales area focuses on online marketing, campaign optimizing and tracking and online advertising market. The Customer Relationship area provides customer services. The Product Management creates possibility online letter experience for customers.