Gameforge Berlin AG
Frogster Interactive Pictures AG: Successful Launch of ‘Runes of Magic’ in Australia / ‘Runes of Magic’ Slim Client completed / Guidance 2010 and Outlook 2011
Frogster Interactive Pictures AG / Key word(s): Product Launch/Change in Forecast 19.10.2010 07:30 --------------------------------------------------------------------------- Berlin, 19.10.2010: Frogster Pacific, a joint venture of Frogster Interactive Pictures AG, an international publisher of massively multiplayer online games with headquarters in Berlin and subsidiaries in Berlin, San Francisco and Seoul has successfully launched the Frogster hit 'Runes of Magic' on October 8th in Australia and New Zealand. Here, for the first time, Frogster Pacific applies the new, so-called slim client of 'Runes of Magic', which reduces the software data volume which players download before starting the game, from currently about 7.5 GB to 3.5 GB. Frogster will shortly offer this software version in its other markets in order to further facilitate access to the game for new players. The Russian version of 'Runes of Magic' which has been operated by a Russian sub-licensee since October 2009, meanwhile achieves six-digit monthly revenues and thus, also so-called royalty income for Frogster. In Poland, a 'Runes of Magic' box version will also be available from October 21st. Frogster will also offer a Polish version of the MMO Game 'Mythos' which is to be released next year. Update on current revenues Revenue in September was about 15% above monthly revenue in August, however still below the present record month of June. For October, currently the management expects a further increase in revenue compared to September 2010. Adjustment of the Guidance 2010 As already announced in August, the management adjusts their guidance for the year 2010 and reduces the revenue target to at least 22m Euro and the net profit target to 0.80 Euro per share. The reasons are the already reported lack of revenue growth in the third quarter 2010 as well as the also already reported investments made and intended in human resources and pre-launch marketing for the new MMO Games 'Mythos' and 'Tera' to be released in 2011, which at the same time represent additional revenue opportunities in 2011. Outlook 2011 With the announced products, for 2011, Frogster expects a further acceleration of its ongoing, strong and profitable expansion. The analysts' consensus for the revenue prognosis 2011 currently amounts to 42m Euro and for the net profit forecast 2011 amounts to a good 2.50 Euro per share. Assuming a similar development as both of Frogster's well-known online games competitors have taken during the last two years coming from a similar revenue size as Frogster's current one, the growth ought to take an even faster course. In the management's view Frogster's product pipeline supports this assumption. Provided that the cooperation initiated between Gameforge and Frogster runs constructively, it should also contribute significantly to the profits and values of both companies latest from 2011 on. Takeover bid by Gameforge AG The extended deadline in which interested shareholders can still accept the takeover bid by Gameforge AG for a share price of 27.50 Euro, which ended on October 4th 2010, per a respective instruction to their custodian bank, will end on October 22nd 2010, according to the bidder. Per October 4th 2010, Gameforge has reported a share holding of just under 71%. Frogster Interactive Pictures AG, Tel. +49 (0)30-28 47 01-0 19.10.2010 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Frogster Interactive Pictures AG Hardenbergstr. 9A 10623 Berlin Deutschland Phone: 030 / 284701-10 Fax: 030 / 284701-11 E-mail: frogster@ir-services.de Internet: http://www.frogster-ip.de/ ISIN: DE000A0F47J1 WKN: A0F47J Indices: Entry Standard Performance-Index Listed: Freiverkehr in München, Düsseldorf, Berlin, Stuttgart; Open Market (Entry Standard) in Frankfurt End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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