DGAP-News: SPORTTOTAL AG
/ Key word(s): Half Year Results
SPORTOTTAL AG: Year-on-year improvement in result
- Orders for projects in the VENUES segment
- Loss almost halved year-on-year
- Sales revenue down due to impact of COVID-19 pandemic
- Sales revenue at € 8.3 million, EBIT at € -3.7 million
Cologne, 30 September 2021. In the first half of the year, the operating business of SPORTTOTAL AG (ISIN DE000A1EMG56 / WKN A1EMG5) continued to be impacted by the negative effects of the COVID-19 pandemic and associated restrictions. No sporting events were held for several months and Porsche Experience trips had to be cancelled. As a consequence, SPORTTOTAL AG realized sale revenue of € 8.3 million in the first half of 2021, reflecting a further year-on-year reduction (H1 2020: € 12.9 million). Despite the lower level of sales revenue, the company succeeded in significantly limiting EBIT losses to a level of € -3.7 million (H1 2020: € -6.4 million). Among other factors, this was made possible by the ADAC TOTAL 24-Hour Race, which was again held as usual in the first half of the year, as well as by the consistent implementation of internal cost savings.
LIVE segment massively affected by restrictions
The LIVE segment was highly affected by the COVID-19 pandemic. Events were postponed or not held, and Porsche Experience trips were cancelled. Sales revenue reached just € 0.9 million (H1 2020: € 9.8 million), and EBIT amounted to € +0.1 million (H1 2020: € +0.2 million).
DIGITAL segment improves EBIT
New orders in the VENUES segment
Confirmation of FY 2021 guidance
Business picks up again in the second half of the year
The partnership with Telekom Deutschland GmbH, which was arranged in the second half of the year for the media coverage of amateur sports via the sporttotal.tv streaming platform and utilising the fully automated camera system developed by SPORTTOTAL itself, is expected to make a sustained contribution to the growth of the DIGITAL segment.
The projects in the VENUES segment are progressing to schedule and will already in part make contributions to sales revenue and earnings in the second half of the year.
About SPORTTOTAL AG:
01.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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|Phone:||+49 (0)221 7 88 77 0|
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|Listed:||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange|
|EQS News ID:||1237421|
|End of News||DGAP News Service|