Novomatic Doubles Profit In H1-2012

NOVOMATIC DOUBLES PROFIT IN H1-2012

11th September, 2012 at 12:41:54
Source: http://www.azonlinecasinos.com

Online operations making a real contribution

Online and land supplier and operator Novomatic has posted a sterling set of H1-2012 results, reporting the following highlights:

* Profit for the period up 112% to Euro 111.9 million

* Revenues up 13.6% to Euro 743.7 million. Revenue split into segments showed that Sales contributed Euro 68.5 million; Rental Euro 247.4 million; Gaming Euro 332.2 million; Betting Euro 23.2 million and Other Euro 72.4 million.

* Operating income increased to Euro 171.2 million, compared to Euro 108.6 million in the same period in the previous year.

* EBITDA up 26% to Euro 284.3 million

* EBIT up 57.6% to Euro 171.2 million

* Cash flow from operating activities up 53.7% to Euro 206 million

The company reported that online operations played an increasing role in its activities, with the highest rates of increase recorded in revenue and gross yield in the growing areas of internet betting and betting terminals.

Admiral Sportwetten GmbH continued on its growth path in the first half of 2012 and achieved markedly higher sales revenue than in the same period of the previous year.

The strong growth in the market for online gaming as well as the intensified R and D activities and the product range from subsidiary Greentube Group again contributed to the increase in e-business income in the reporting period.

The group spent Euro 166.3 million on personnel, up almost Euro 15 million, and Euro 297.6 million on gaming taxes - up almost Euro 25 million.

Management reported that post- the reporting period its Welsh-based subsidiary Astra Games Limited acquired significant elements of the integrated British gaming group Danoptra Gaming in July 2012.

"With the acquisition of the assets of the four companies Gamestec Leisure, Bell-Fruit Games, Mazooma Interactive Games and RLMS Sales, the Astra Group has become a market leader on the British gaming market both as a producer and as an operator and has more than 1,000 employees and more than 35,000 operating gaming terminals," Management noted.

Gumpoldskirchen-based Novomatic is the parent firm for Astra Games Limited, Admiral Casinos and Entertainment AG and Austrian Gaming Industries among others.

Although the global economy appeared to improve in comparison with H1-2011, growth flagged due to economic and political uncertainties, especially in Europe, Management observed, adding that an increasing divergence in the development of the economy in Europe is becoming apparent.

"While countries like Germany, Finland and Austria are characterised only by a decrease of the economic dynamic, the southern European area countries, in particular, are affected by a deep recession that could last for several years, Management noted.

These difficult economic conditions have characterised the market environment of Novomatic in the first half of 2012. Thanks to synergies that have arisen as a result of the dual strategy as well as the regional diversification of Novomatic, the effects of the crisis on sales turnover and profit were able to be limited.

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