EQS-News

SPORTTOTAL AG reports positive operating result for the first time since strategic transformation

EQS-News: SPORTTOTAL AG / Key word(s): Annual Results SPORTTOTAL AG reports positive operating result for the first time since strategic transformation 25.04.2024 / 12:00 CET/CEST The issuer is solely responsible for the content of this announcement. SPORTTOTAL AG reports positive operating result for the first time since strategic transformation

• Transformation pays off
• Revenues of EUR 45 million in the 2023 financial year
• Positive EBITDA of EUR +0.3 million in line with guidance
• Positive outlook for the 2024 financial year

Cologne, 25 April 2024. SPORTTOTAL AG reports revenue of EUR 45 million for the 2023 financial year, which is only slightly below the previous year's revenue level. This is despite the loss of around EUR 20 million from the EVENT business and around EUR 20 million (FIFA World Cup 2022 Qatar) from the business with the production subsidiary Forty10, which was founded on behalf of Deutsche Telekom. 

For the first time since the strategic transformation into a technology company based on artificial intelligence (AI), a positive operating result (EBITDA) is reported, which means that SPORTTOTAL is once again in line with the issued guidance. The successful implementation of the Formula 1 project in Qatar in the VENUES segment also contributed to the pleasing development in 2023.  

The operating result of the VENUES segment and the once again successful marketing of the ADAC TotalEnergies 24h race at the Nürburgring resulted in an overall improvement of EUR +4 million in EBITDA. In addition, the wholly owned subsidiary STAIDIUM US Inc., which was founded in the USA, achieved a better result than expected in its first year of operation.

For the 2024 financial year, the Executive Board expects a further significant increase in revenue and earnings in the DIGITAL segment, particularly as a result of the rapidly scalable streaming platform business for live sport in the USA. The first contracts for the North American market were concluded with clubs, leagues and operators of sports arenas in 2023. Access to the STAIDIUM US platform will be offered for a fee in the USA. STAIDIUM US will exclusively use the fully automated camera systems based on AI developed by SPORTTOTAL for its streaming service.