SPORTTOTAL AG

  • WKN: A1EMG5
  • ISIN: DE000A1EMG56
  • Land: Deutschland

Nachricht vom 13.08.2020 | 17:20

SPORTTOTAL AG announces publication of its consolidated financial statements and deviation from the 2019 forecast

SPORTTOTAL AG / Key word(s): Annual Results/Change in Forecast
SPORTTOTAL AG announces publication of its consolidated financial statements and deviation from the 2019 forecast

13-Aug-2020 / 17:20 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


SPORTTOTAL AG announces publication of its consolidated financial statements and deviation from the 2019 forecast

- Publication of the consolidated financial statements on 21 August 2020.

- Changed accounting valuation of Luxembourg-based SPORTTOTAL INTERNATIONAL SA

- Preliminary figures indicate negative earnings before interest and taxes (EBIT) at Group level of €-14.6 million for the financial year 2019


Cologne, 13 August 2020. SPORTTOTAL AG will be publishing its separate and consolidated annual financial statements for the financial year 2019 on 21 August 2020. As already announced on 11 August 2020, the Company's recent borrowing of additional capital has meant that the process of auditing the separate and the consolidated financial statements can only be fully completed in the coming week.

Furthermore, based on current knowledge, the Management Board anticipates that sporttotal.tv gmbh will continue the process of internationalising the streaming platform for live sport already operated in Germany. Insofar, further losses of € 2.1 million in connection with the initial full consolidation of Luxembourg-based SPORTTOTAL INTERNATIONAL SA in SPORTTOTAL AG's consolidated financial statements are to be realised. The negative EBIT originally envisaged in a range of €-12 to -13 million will now amount to around €-14.6 million. The consolidated annual result for 2019 therefore diverges from the Management Board's previous forecast. The aforementioned consolidated result for the financial year 2019 is preliminary and subject to auditing by the external auditor and examination by the company's Supervisory Board.


SPORTTOTAL AG
Am Coloneum 2
50829 Cologne
www.sporttotal.com
phone: +49 (0) 221_7 88 77_ 0
fax: +49 (0) 221_7 88 77_ 199
info@sporttotal.com

Investor Relations
BSK Becker+Schreiner Kommunikation GmbH
Tobias M. Weitzel
phone: +49 (0) 177_7 21 57 60
weitzel@kommunikation-bsk.de


13-Aug-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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