FLUXX reaches highest quarterly EBITDA in its history

The Kiel-based FLUXX AG, a specialist handler of lotteries and betting, announces the key figures for the first quarter of 2005. Revenue showed a 35 percent rise on the prior-year quarter, from EUR 3.9 million to EUR 5.2 million, thus matching the level of the strong fourth quarter of 2004. The gaming volume processed was boosted by 21 percent, from EUR 16.6 million to EUR 20.1 million.

Earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 418 percent in the first quarter, from EUR 260 thousand to EUR 1,347 thousand, thus representing the sharpest quarterly rise in EBITDA in the history of FLUXX. Depreciation and amortisation was, however, significantly higher than in the prior-year quarter as a result of the capitalisation of syndicate contracts; it nevertheless proved possible to boost earnings before interest and tax (EBIT) by 595 percent from EUR 60 thousand to EUR 417 thousand. The net profit improved by 269 percent, from EUR 98 thousand in the first quarter of 2004 to EUR 362 thousand in the first quarter of 2005. Despite the dilutive effect of the capital measures conducted in 2004 and 2005, earnings per share were boosted to EUR 0.03.