DGAP-News: Frogster Interactive Pictures AG purchases the remaining stakes in Frogster Online Gaming GmbH / Significant revenue growth from key product expected in March
(firmenpresse) - Frogster Interactive Pictures AG / Acquisition/Change in Forecast
23.03.2010 07:30
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
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Berlin, 23.03.2010: Frogster Interactive Pictures AG, international
publisher of massively multiplayer online games with headquarters in Berlin
and subsidiaries in Berlin, San Francisco and Seoul raises its stake in
Berlin-based Frogster Online Gaming GmbH from 90 to 100 percent.
Within the Frogster group's geographically segmented holding structure,
Frogster Online Gaming GmbH is the subsidiary in charge of the operative
European business. Frogster Online Gaming runs the massively multiplayer
online games 'Bounty Bay Online' and 'Runes of Magic' in Europe. Revenues
with both 'Bounty Bay Online' and 'Runes of Magic' are growing strongly.
Besides this, with OnlineWelten.com, Frogster Online Gaming runs one of the
broadest reaching German MMO games and community portals. The management of
Frogster believes the stake in Frogster Online Gaming does not only have a
higher value than the purchase cost on the balance sheet, but also expects
further value enhancement especially facing the exploitation of the success
title ,Runes of Magic' still being in its initial stage and facing the
expansion of the user base. In 2009, Frogster Online Gaming has reached a
seven digit profit and expects a significant profit increase for 2010.
Capital raise by 100,000 shares against investment in kind
Frogster acquires the shares from the founders and managers of Frogster
Online Gaming (FOG), against issuance of 100,000 Frogster shares that shall
be created by a capital increase from authorized capital stock against an
investment in kind. Thus the increase of the stake in FOG by 10 percent
stands against a dilution effect of the parent company's shareholders of
only 3.8 percent. As long as FOG contributes more than a third to the group
result, the earnings per share net of taxes and minority stakeholder
interests rise with the transaction. For 2010, the management expects a
result contribution of over 50 percent.
Increase of the 'Guidance' 2010
Consequently, the Frogster management raises their target for the 2010
profit net of taxes and minority stakeholder interests from 1.50 to 1.60
Euro per share. A so called 'lock-up' was agreed for the new shares.
Game Developers Conference in San Francisco
At this year's Game Developers Conference (GDC) from March 9th until March
13th 2010 in San Francisco, at which Frogster was present with an own
booth, the company not only received a lot of attention for the MMO game
'Runes of Magic' but also had several appointments with developers about
the licensing of interesting future MMO game titles. At the GDC two years
ago, Frogster had succeeded in the initiation of the business towards the
purchase of the 'Runes of Magic' license. Due to the success with 'Runes of
Magic' on three continents, Frogster has gained a high reputation of a
global MMO game publisher.
The first social game of Frogster which was presented at the GDC, 'Runes of
Magic - The Challenge', has received a very positive feedback. Worldwide,
'Runes of Magic' is the first massively multiplayer online game (MMO game)
which is expanding into the world of the strongly growing 'social
communities' in such a manner and with this, into a genre which attracts
mass audiences. 'RoM-TC' is a so-called online trading card game in which
the players can purchase card decks, collect and trade cards and compete
with them against each other. Some cards also have functions, meaning
values in the 'associated' MMO game. Many trading card games achieve high
revenues, even more so when connected to Facebook as planned here.
Additionally, with 'RoM-TC' Frogster wants to gain a cross promotion effect
with the main product 'Runes of Magic'.
Current revenue development
For March 2010, a new, significant revenue growth is indicated for the main
revenue source 'Runes of Magic', especially in North America. The
management expects a new month record for the ongoing revenues from the
virtual world. Moving forward, Frogster expects further increases of
revenues from the roll-out into the Polish language version which was just
launched, from additional game content, amongst others the siege battles
between players' castles which have been announced, and especially from the
third chapter 'Runes of Magic - The Elder Kingdoms' which has been
announced for May 2010, from additional large-scale marketing campaigns,
especially in the USA and Korea and from improvements in functions such as
the already announced enabling of impulse purchases within the game and the
reduction of the data volume of the initial game download with a 'slim
client'.
Frogster Interactive Pictures AG, Tel. +49 (0)30-28 47 01-0
23.03.2010 07:30 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.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(at)ir-services.de
Internet: http://www.frogster-ip.de/
ISIN: DE000A0F47J1
WKN: A0F47J
Indices: Entry Standard Performance-Index
Listed: Freiverkehr in Berlin, München, Düsseldorf, Stuttgart; Open
Market (Entry Standard) in Frankfurt
End of News DGAP News-Service
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