At the same time, the Management Board is adjusting the forecast for the Group revenues expected in the current financial year to around EUR 13 million (previous year: EUR 20.3 million). The previous expectation for the financial year 2019 envisaged Group revenues in a range of EUR 17 million to 19 million. Reason for this is mainly a significant decline in sales and earnings in the service-business due to a weak TV-market, which had a negative effect on the development of the consolidated service-subsidiaries, in particular getonTV GmbH. In addition, earnings in the current financial year will be burdened by lower revenues and higher IT development costs of the subsidiary Shirtinator AG.
An extensive relaunch of the Shirtinator website is expected to provide new growth impulses from 2020 onwards.