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JAXX AG consolidated result reflects impact of high special depreciation and impairment

JAXX AG / Preliminary Results

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Due to high special depreciation and impairment of around EUR 15 million,
which is attributable to the effects of the State Treaty on gaming, JAXX AG
posts an IFRS consolidated loss of EUR 16.9 million for the past financial
year of 2008.

By making these far-reaching adjustments to the balance sheet, the JAXX AG
Management Board has now eliminated them from the overall picture in order
to present the special economic and legal position of JAXX AG more
accurately. This has paved the way for its successful economic development.

Whereas the provisional, unaudited figures showed EBITDA of EUR +6.3
million to be only marginally down on the previous year's level, EBIT fell
from EUR -4.9 million in the previous year to EUR -10.1 million in 2008 due
to special depreciation of property, plant and equipment and goodwill
amortisation. The consolidated result was further diminished by the
impairment of deferred tax assets on loss carryforwards for group
subsidiaries.

The negative net result contrasts with the growth trend, which remains
intact. Consolidated sales were increased by 67 percent in the 2008
financial year, to EUR 123.5 million. The high cash flow from operating
activities of EUR 3.7 million is another positive development. At the end
of 2008, cash and cash equivalents after investing and financing activities
amounted to EUR 13.2 million (previous year: EUR 13.8 million).

The equity ratio at December 31, 2008 was 44.2 percent, with a balance
sheet total of EUR 48.6 million.

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Information and Explaination of the Issuer to this News:

Although serious doubts have been cast on the lawfulness of the State
Treaty on gaming by the European Commission and by experts in
constitutional law and European law, the new legislation has prohibited
lottery agency operations on the internet since the start of 2009. While
terrestrial agency business via supermarkets and filling stations is still
fundamentally possible - subject to certain restrictions - in virtually
every instance permits have been refused for reasons that have not been
fully explained.

JAXX GmbH, Hamburg, has consequently been obliged to close down its
extensive agency activities based in supermarkets, filling stations and
drugstore branches. All investments in that field have been written off,
except for the few instances where permits have been granted.

Contact:
JAXX AG
Investor Relations & Corporate Communications
Stefan Zenker
Tel. +49 (40) 85 37 88 47
Fax +49 (431) 88 10 44 0
Mail stefan.zenker@jaxx.com


24.03.2009  Financial News transmitted by DGAP
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Language:     English
Issuer:       JAXX AG
              Ostpreußenplatz 10
              24161 Altenholz
              Deutschland
Phone:        +49 (0)431 88 104-0
Fax:          +49 (0)431 88 104-40
E-mail:       ir@jaxx.com
Internet:     www.jaxx.com
ISIN:         DE000A0JRU67
WKN:          A0JRU6
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, München, Stuttgart
 
End of News                                     DGAP News-Service
 
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