SPORTTOTAL AG
SPORTTOTAL AG publishes figures for fiscal 2020
DGAP-News: SPORTTOTAL AG
/ Key word(s): Annual Results
Corporate News Taking account of the severe impact of the COVID-19 pandemic on the SPORTTOTAL Group’s various business lines, the Management Board forecasted lower revenue for fiscal 2020 in comparison with the previous year. In particular, organizing events in the context of the Porsche Experience and live broadcasting of sports events on the sporttotal.tv streaming platform came to a virtual standstill for much of 2020. The Group’s resulting loss of revenue was not compensated for despite the successful operation of #dabeiTV as the new linear TV channel and the additional revenue this generated in the DIGITAL segment. In terms of sporttotal.tv gmbh, the centrepiece of the digital platform strategy, revenue was raised significantly by +48.5% in a year-on-year comparison. The cost-cutting measures introduced in all parts of the Group in the face of dwindling revenue, fresh success in marketing the ADAC TOTAL 24h race at the Nürburgring and operating #dabeiTV all made a decisive contribution to lifting EBIT by €+3.0 million compared with the previous year. SPORTTOTAL AG is therefore in line with the forecast. In 2021, the Management Board anticipates that game operations in many sports will resume and can then be broadcast on sporttotal.tv’s streaming platform, thereby contributing to the positive performance of the DIGITAL segment going forward. Revenue from local advertising on the streaming platform is to play an important role in future. This will allow advertisers to target local groups linked specifically to a sports club. With currently 800 clubs that are already part of the sporttotal.tv platform, this will unleash correspondingly great potential. In the VENUES segment, the race track project already commissioned in Jeddah (Saudi Arabia) will contribute to a generally promising development in the revenue and result of the SPORTTOTAL Group. Assuming that this year’s 24-hour race at the Nürburgring can go ahead and be successfully marketed, the Management Board predicts an increase in revenue and higher EBIT in fiscal 2021, both in comparison with the past fiscal year 2020. About SPORTTOTAL AG: SPORTTOTAL AG Investor Relations
29.04.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | SPORTTOTAL AG |
Am Coloneum 2 | |
50829 Köln | |
Germany | |
Phone: | +49 (0)221 7 88 77 0 |
Fax: | +49 (0)221 7 88 77 199 |
E-mail: | info@sporttotal.com |
Internet: | www.sporttotal.com |
ISIN: | DE000A1EMG56 |
WKN: | A1EMG5 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange |
EQS News ID: | 1190608 |
End of News | DGAP News Service |