GGRAsia – Novomatic profit up 230pct in 2022, rev grows to US$3.1bln

Novomatic profit up 230pct in 2022, rev grows to US$3.1bln

Apr 17, 2023 Newsdesk Latest News, Top of the deck, World

Austria-based gaming equipment maker and operator Novomatic AG reported group-wide revenues of nearly EUR2.86 billion (US$3.14 billion) for full-year 2022, up 55.2 percent from the prior year.

The company said its 2022 earnings before interest, taxation, depreciation, and amortisation (EBITDA) stood at EUR758.9 million, 29.2-percent higher than in 2021, according to its annual report released earlier this month.

Novomatic reported a net profit of EUR214.3 million in 2022, an increase of 230.0 percent from a year earlier.

The group – traditionally strong in Europe and the Americas – has been working to increase the presence of its casino gaming machine products in Asia-Pacific markets. Novomatic controls a 52-percent stake in Australian slot machine maker Ainsworth Game Technology Ltd.

In its annual report, Novomatic said the increase in revenues “was due to reduced Covid-19 measures, as well as the good performance of, and demand for,” its new products.

In the gaming operations segment – comprising the operation of casinos, slot arcades and betting facilities – revenue grew by 72.7 percent year-on-year, to nearly EUR1.79 billion. Novomatic’s gaming technology segment posted revenue of EUR1.07 billion, an increase of 33.0 percent from a year earlier.

In the report, Novomatic stated the “high quality” of its new products and “their excellent performance” had a “positive impact on all business areas within the group”.

It added: “Novomatic successfully continued its international course of expansion in the year under review and achieved a number of significant milestones in 2022, both by making several smaller acquisitions in various markets and by means of the strategically important majority acquisition of the Italian HBG Group, which marks one of the largest transactions in Novomatic’s history.”

The group also said it refinanced in October last year its syndicated revolving credit line, reducing it to EUR800.0 million, maturing in 2027, with options to extend it for two further years. As of December 31, 2022, credit-line utilisation amounted to EUR570.0 million, it added.