10TACLE STUDIOS AG lifts forecast for 2007
Monday, 18th June 2007 at 9:18 am
10T expects revenue of€52.0 million and EBIT of€9.3 million
Darmstadt, June 15, 2007– 10TACLE STUDIOS AG will present its revenue and earnings forecasts for 2007 at its Annual General Meeting on June 19, 2007. For the current fiscal year, the Company is expecting revenue of€52.0 million and EBIT of€9.3 million. This represents year-on-year growth of 77% (revenue) and 97% (EBIT).
In particular, the new projections reflect recent developments at the Company, such as the implementation of a 3D online world with content from music channel MTV, the successful launch of a media fund in Singapore and the acquisition of development studio STORMREGION in Budapest, Hungary.
The Company expects the cooperation with a fund to develop and market the MTV online world to generate revenue of€25 million in 2007 and 2008. An additional share in the income is expected to contribute to earnings as early as 2008. In addition, completed negotiations with cooperation partners for the development of the Internet world, as well as a number of online games, indicate an encouraging margin for 10TACLE STUDIOS AG.
The order volume relating to the media fund in Singapore will be higher than the figure previously expected for 2007 and has been used for initial projects faster than expected. In particular, preliminary agreements have now been signed for two comprehensive project commissions from the media fund for the STORMREGION studio. The order volume will be in excess of€14 million. The acquisition of the development studio by 10TACLE STUDIOS AG just a few days ago will therefore result in a considerable improvement in projected earnings in 2007 and 2008.
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About 10TACLE STUDIOS AG:
Listed in the General Standard of the Frankfurt Stock Exchange, 10TACLE STUDIOS AG (WKN: TACL10, ISIN DE000TACL107) is one of Europe’s leading independent developers and producers of high-end computer and video games. 10TACLE STUDIOS AG produces top-quality products that meet international development standards, and its product portfolio covers all relevant, high-growth segments in the games market. Currently, around 390 employees work for the Company at its headquarters in Darmstadt and the development sites in Hanover, Duisburg, London, Charleroi, Bratislava, Budapest and Singapore. 10TACLE STUDIOS AG’s consolidated revenue increased by 64% in 2006 to€29.285 million (previous year:€17.896 million). During the same period, EBIT increased sharply by 180% to€4.708 million (previous year:€1.684 million).
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