Lotto24 reveals preliminary financial growth for 2016

Germany-based operator Lotto24 has said that, based on preliminary results, it expects to achieve significant year-on-year financial growth for 2016.

The company has forecast that revenue for the 12 months through to December 31 should amount to €22.6 million ($24 million), up 67% on the previous year, while billings are also set to climb 47% to €200.5 million.

Elsewhere, based on preliminary calculations, group earnings before interest and tax (EBIT) look set to improve from a loss of €13.4 million in 2015 to negative €3.9 million, while net profit should also climb from a loss of €10.8 million to negative €2.3 million.

The full-year forecasts come after an impressive fourth quarter, during which the firm said revenue rose 95% year-on-year to €6.9 million, based on preliminary calculations.

In addition, billings look set to have increased by 67% to €59 million during the final three months of the year.

Looking ahead to this year, Lotto24 said billings should improve by between 15% and 20%, with EBIT set to break even and net profit to be above the break-even point.

Lotto24 expects to publish its annual report for the last 12 months on March 30.

Related article: Lotto24 claims positive start to 2016 as revenue rises in Q1