Research (J&T BANKA)
Czech markets  |  August 28, 2012 09:15:19

Fortuna on Wednesday published its results for 1H12 - the whole, the decline in profit to 7.6 million euros


Fortuna will announce its financial results for the first half of the year tomorrow (August 29) before the market opens. At the level of net profit decline by 12% to 7.6 million. The volume of bets should be higher by 8% to EUR 225 million through the launch of the lottery in 3Q 2011, starting an online betting in Poland and the European Football Championship. Despite the growth on the revenue side, the operating profit (EBITDA) had fallen (estimate: -2% to 11.7 million EUR) which is a negative contribution lottery (-2.7 million). Revenues from numerical games (Loto), Fortune lottery in 2Q continue to decline (-50% q / q), which the company is not able to compensate for other games or sale of scratch cards.
We therefore expect further comment regarding management strategies.

Results of the company should continue to pull good performance in key business areas, which are odds betting. The increase staked and the influx of new clients suggests that this trend will continue into the future. Short term there may be negative for stocks further developments around lottery. On the other hand, in the long run would výraznější drop actions was to limit the relatively high expected dividend yield of profit this year (around 8%).

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Fortuna ve středu zveřejní své výsledky za 1H12 - čelá se pokles zisku na 7,6 mil.EUR

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