DGAP-Adhoc: SPORTTOTAL AG: Rescheduled large-scale projects in 2020 result in adjusted forecast

2019. október 31., csütörtök, 17:26

DGAP-Ad-hoc: SPORTTOTAL AG / Key word(s): Change in Forecast

SPORTTOTAL AG: Rescheduled large-scale projects in 2020 result in adjusted forecast

31-Oct-2019 / 17:26 CET/CEST

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Disclosure of insider information pursuant to Article 17 MAR


Rescheduled large-scale projects in 2020 result in adjusted forecast

- Revenue of EUR 37 to 39 million and EBIT of EUR -11 to -12 million anticipated

- As of October 30, 2019 cash balance stands at EUR 8.5 million

- Prefinancing of large-scale projects ensured

Cologne, 31 October 2019. Due to the rescheduling of two large-scale orders for the technical equipping of racetrack projects in the year 2020, SPORTTOTAL AG has lowered its forecast for the ongoing business year to currently anticipated revenue of EUR 37 to 39 million and EBIT of EUR -11 to -12 million. Originally, SPORTTOTAL had forecasted a sales volumes of EUR 60 to 70 million, and EBIT in the bandwidth of EUR -4 to +0,5 million. In the prior year, EBIT had still stood at EUR -8.0 in connection with sales of EUR 37.6 million.

The developments in the margin-strong, but volatile project business in the VENUES operating area are responsible for the adjusted forecast: in this area, management is now, with a look to 2019, anticipating a sales volume of only EUR 7.7 million and EBIT of EUR -1.7 million instead of sales of EUR 32.2 million and EBIT of EUR 6.3 million. While strong turnover and earnings were expected for the months of November and December in connection with the racing circuit project in Rio de Janeiro (Brazil), as well as an additional, even larger project in the Middle East, the launch of the project in Brazil is expected to be rescheduled for the second or third quarter of 2020 - apparently for political reasons. The anticipated large-scale project in the Middle East is now also expected to kick off only as from the year 2020. By contrast, the Live and Digital operating areas have shown only slightly weaker developments by comparison with the anticipated performance.

As of October 30, 2019, the cash balance of the SPORTTOTAL Group stands at EUR 8.5 million. The prefinancing of the anticipated large-scale orders is ensured.


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Phone: +49 (0)221 7 88 77 0
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EQS News ID: 902247

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