17.05.2016 20:24:20
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DGAP-Ad hoc: ZEAL Network SE
ZEAL Network SE / Key word(s): Change in Forecast
17.05.2016 20:24
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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In a secondary lottery held by MyLotto24 Limited, a fully consolidated
minority shareholding of ZEAL Network SE, a player has won a prize of
approximately EUR 37 million.
The majority of the prize is covered by a special insurance held by
MyLotto24, which is independent of the ILS hedging structure of high
jackpot pay-outs. Consequently, the pay-out will not affect the self-
retention of the ILS hedging structure. However, the pay-out of the non-
covered part will impact Total Operating Performance and consolidated EBIT
in the current fiscal year 2016 by approximately EUR 17 million.
While statistical fluctuations are inherent to the secondary lottery business model, MyLotto24 Limited has had prize pay-outs above the statistical average in the current year to date. ZEAL has therefore adjusted its Total Operating Performance and EBIT guidance for the current fiscal year 2016. Taking into account the favorable development and performance of the business in the first months of the year and assuming a normal course of business in the remaining year (i.e. absence of very large jackpots, winnings payouts around the statistical average), ZEAL reduces its Total Operating Performance guidance for 2016 from EUR 140-150 million to EUR 125-135 million and its EBIT guidance from EUR 40-50 million to EUR 25-35 million.
17.05.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
--------------------------------------------------------------------------- Language: English Company: ZEAL Network SE 5th Floor One New Change EC4M 9AF London United Kingdom Phone: +44 (0)20 3739-7000 Fax: +44 (0)20 3739-7099 E-mail: office@zeal-network.co.uk Internet: www.zeal-network.co.uk ISIN: GB00BHD66J44 WKN: TPP024 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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