SPORTTOTAL AG reports positive operating result for the first time since strategic transformation
EQS-News: SPORTTOTAL AG / Key word(s): Annual Results
SPORTTOTAL AG reports positive operating result for the first time since strategic transformation
25.04.2024 / 12:00 CET/CEST
The issuer is solely responsible for the content of this announcement.*SPORTTOTAL AG reports positive operating result for the first time since strategic transformation*
· *Transformation pays off*
· *Revenues of EUR 45 million in the 2023 financial year*
· *Positive EBITDA of EUR +0.3 million in line with guidance*
· *Positive outlook for the 2024 financial year*
Cologne, 25 April 2024. SPORTTOTAL AG reports revenue of EUR 45 million for the 2023 financial year, which is only slightly below the previous year's revenue level. This is despite the loss of around EUR 20 million from the EVENT business and around EUR 20 million (FIFA World Cup 2022 Qatar) from the business with the production subsidiary Forty10, which was founded on behalf of Deutsche Telekom.
For the first time since the strategic transformation into a technology company based on artificial intelligence (AI), a positive operating result (EBITDA) is reported, which means that SPORTTOTAL is once again in line with the issued guidance. The successful implementation of the Formula 1 project in Qatar in the VENUES segment also contributed to the pleasing development in 2023.
The operating result of the VENUES segment and the once again successful marketing of the ADAC TotalEnergies 24h race at the Nürburgring resulted in an overall improvement of EUR +4 million in EBITDA. In addition, the wholly owned subsidiary STAIDIUM US Inc., which was founded in the USA, achieved a better result than expected in its first year of operation.
For the 2024 financial year, the Executive Board expects a further significant increase in revenue and earnings in the DIGITAL segment, particularly as a result of the rapidly scalable streaming platform business for live sport in the USA. The first contracts for the North American market were concluded with clubs, leagues and operators of sports arenas in 2023. Access to the STAIDIUM US platform will be offered for a fee in the USA. STAIDIUM US will exclusively use the fully automated camera systems based on AI developed by SPORTTOTAL for its streaming service.
A new order for a major project at SPORTTOTAL VENUES is expected for the 2024 financial year. Due to the currently unclear timing of the order and the associated degree of realization of the 2024 project, it is difficult to predict the revenue and operating result from this project.
For the SPORTTOTAL Group as a whole, revenue of between EUR 22 million and EUR 53 million are therefore guided for the current financial year, with a positive operating result (EBITDA) of between EUR +0 million and EUR +9 million.
*About SPORTTOTAL AG*
SPORTTOTAL AG is a technology and media company on a growth path in the rapidly scalable digital business with streaming platforms, in the high-margin international project business, as well as in the live events business. The company, which was founded in 1979, operates high-traffic portals through sporttotal.tv in Germany and staidium.net in the US, with strong growth for online sport videos and live streaming. The company equips sports clubs with self-developed camera technology, which enables sports events to be transmitted live in a high quality and fully automatically. SPORTTOTAL AG’s service portfolio also comprises the technical equipping of racing circuits and sports facilities, as well as the production and marketing of sports events such as the ADAC RAVENOL 24-Hour Race at the Nürburgring. In addition, SPORTTOTAL AG operates with its Media house “FORTY10” linear TV channels and successfully broadcasted the FIFA World Cup 2022 for MagentaTV.
To learn more about SPORTTOTAL AG, visit https://sporttotal.com/.
*Contact*
SPORTTOTAL AG
Am Coloneum 2
50829 Cologne
Tel.: +49 (0) 221 7 88 77 0
Email: investorrelations@sporttotal.com
--------------------
25.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com --------------------
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: 1889579
End of News EQS News Service