Global gaming group Novomatic has announced their 2018 financial results, revealing that the company posted an operating loss for the period.
Key financial indicators for the year ending December 31st, 2018 were:
- Operating loss of €131.9 million
- Revenues up to €2.37 billion
- Italian sales up to €401.1 million from €371.7 million in 2017
- Spanish sales up 20% to €152.1 million
- German revenues up slightly to €724.0 million
- Austrian sales up from €335.9 million to €373.6 million
- Other global markets saw revenues climb to €219.5 million from €77.2 million
- Online sales were down from €146.5 million to €110.2 million
- Gaming technology revenue up to €968.1 million
- Gaming operations sales up to €1.64 billion
- The group's purchase of Ainsworth Game Technology generated €160.5 million in positive revenues
- Cost of material was up 50.1% to €496.6 million
- Personnel costs up 10.18% to €776.6 million due largely
- Depreciation and amortization, impairment, and reversal of impairment costs up 101.4% to €687.6 million
- EBITDA of a loss of €159.5 million
- Posted net loss of €154.9 million, down from a positive €61.4 million in 2017
The company's board of directors issued a statement, reading: "The focus is currently on consolidating the rapid growth of the past few years, which was driven by the purchase of various companies. In parallel, the company is beginning to increase the synergy potential.
"The focus of these efforts is on the transnational optimization of internal processes and structures."