EBIT grows by 45% to€3.37 million
Darmstadt, August 29, 2007– 10TACLE STUDIOS AG, a listed company, successfully continued its growth path in the first half of 2007. Revenue generated by the developer and producer of high-end computer and video games increased to€19.4 million in the first half of 2007 (H1 2006:€12.71 million). EBIT also grew significantly by 45% to€3.37 million (€2.3 million in the prior-year period). 10TACLE STUDIOS AG expects to generate revenue of approximately€52 million and EBIT of approximately€9.3 million in fiscal year 2007.
This significant revenue and earnings growth is attributable among other things to orders from ASIA GAMES&MEDIA PRIVATE EQUITY FUND PTE. LTD., Singapore, which has placed approximately€14 million in development capacity with 10TACLE STUDIOS AG during the reporting period. This has enabled 10TACLE STUDIOS AG to transfer its innovative business model, which has been successful in Europe, to the Asian market as well. The Company has the opportunity to benefit from growth in this dynamic region to an even greater degree in the future. 10TACLE STUDIOS AG reported earnings per share (EPS) of€0.33 as of June 30, 2007 in its report on the first six months, published yesterday. The six-month results, which represents a significant year-on-year improvement, are all the more encouraging for the Darmstadt-based games experts because it is common in the industry for the majority of revenue to be generated in the second half of the year.
“The results for the first six months of fiscal year 2007 confirm the strategy of our Company. The expansion of our activities in Asia, our far-reaching cooperation with MTV, the acquisition of the Stormregion development studio in Budapest, and our strategic partnership with the British development studio CLIMAX Group allowed us to successfully and systematically continue 10TACLE STUDIOS AG’s growth path. The six-month figures are a clear indication of our ability to grow in a focused, yet controlled, manner. This will allow us to rapidly achieve a leading position among independent development studios in Europe and Asia,” said Michele Pes, CEO of 10TACLE STUDIOS AG.