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Groupe Partouche
Earnings Release • Dec 11, 2019
1386_iss_2019-12-11_b0c01c3f-fed3-44de-9d51-4f547180ee65.pdf
Earnings Release
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Annual turnover in progress + 5.5 %
Solid dynamic during the 4 th quarter (+ 6.8 %)
Paris, 11th of December 2019, 06:00 pm - Groupe Partouche, one of the European gaming leaders, published its consolidated turnover for the 4 th quarter 2019 (August to October 2019).
4 th quarter sustained activity
During the 4th quarter 2019, the Gross Gaming Revenue (GGR) totaled € 178.7 M (+ 7.4%).
Driven by an increased attendance of +5.4%, the GGR in France was up by +€ 10.1M reaching a total of € 150.2 M (+7.2%). Slots GGR continued its satisfactory growth, up by + 5.6% to € 122.2 M. Table games GGR accelerated its growth by 14.7% (€ 28.1 M) thanks to the electronic machines (+ 41.8 %). These performances are the more noteworthy as they take into account the cessation of operations of the Boulogne-sur-Mer casino at the end of June 2019.
Abroad, after a weaker third quarter (-0.9%), the GGR registered a sharp rise up by 8.4% to € 28.4 M, driven both by the activity of the slot machines (+6.8%) and by traditional games (+10.7%). Note the good performance of the GGR of the bricks and mortars casinos (+6.3%) and online games and sports betting in Belgium (+13.9%).
After deduction of the levies, the Net Gaming Revenue (NGR) was up by + 7.3 % reaching € 81.2 M (i.e. + € 5.5 M)
Globally, the 4th quarter turnover amounted to € 106.7 M, up by +7.1 %.
Annual turnover up by + 5.5 % at € 433.5 M driven by the new lines of games
In the 2019 financial year, the GGR stood at € 672.7 M, an increase of € 33.9 M (+5.3%), due to the growth of the slot machines GGR (+3.6%) , the GGR of electronic traditional games in France (+28.6%) and online games and sports betting in Belgium (+25.4%).
In addition, the evolution of the EUR / CHF exchange rate for the two Swiss casinos in Meyrin and Crans-Montana was favorable (+ €2.3 M).
Thus, after deduction of the levies, the NGR amounted to € 338.1 M, up by +5.4 %
Overall, over one year, Groupe Partouche recorded an annual revenue of € 433.5 M, up by +5.5% (+€ 22.6 M).
Casinos turnover (+5.0%) benefited from both the sustained attendance in France (+3.5%) and the success of casinos that benefited from the investment program. We will note for example:
- The annual growth in the turnover of the new Pornic casino +50.5%, this establishment having been relocated a year ago;
- A further significant increase in turnover of the casino La Ciotat this year (+10.9%), following the growth of its first full year operations as "Open Air" since July 2017: + 38.2%;
- And last but not least, the success of the Grand Pasino Aix-en-Provence, with a strong increase in turnover (+32.8%) during the fourth quarter, thanks to its innovative restructuring.
These results confirm the relevance of the Group's modernization and expansion program, which will also be applied to new sites in the coming years, notably at La Tour-de-Salvagny near Lyon and Annemasse near Geneva.
Upcoming events:
Income of financial year at 31st October 2019: Wednesday 29th January 2020, after Paris stock market close
Groupe Partouche was established in 1973 and has grown to become one of the market leaders in Europe in its business sector. Listed on the stock exchange, it operates casinos, hotels, restaurants, spas and golf courses. The Group operates 43 casinos and employs nearly 4,500 people. It is well known for innovating and testing the games of tomorrow, which allows it to be confident about its future, while aiming to strengthen its leading position and continue to enhance its profitability. Groupe Partouche was floated on the stock exchange in 1995, and is listed on Euronext Paris, Compartment B. ISIN : FR0000053548 - Reuters : PARP.PA - Bloomberg : PARP:FP
FINANCIAL INFORMATION
Valérie Fort, Chief Financial Officer [email protected]
ANNEX
1- Consolidated turnover
| In €M | 2019 | 2018 | Variation |
|---|---|---|---|
| st quarter 1 |
116,6 | 113,9 | 2,4% |
| nd quarter 2 |
105,3 | 97,5 | 8,0% |
| rd quarter 3 |
104,9 | 99,9 | 5,0% |
| th quarter 4 |
106,7 | 99,6 | 7,1% |
| Total consolidated turnover | 433,5 | 410,8 | 5,5% |
2- Construction of consolidated turnover
2.1 – 4 th quarter
| In €M | 2019 | 2018 | Variation |
|---|---|---|---|
| Gross gaming revenue (GGR) | 178,7 | 166,3 | 7,4% |
| Levies | 97,7 | 90,6 | 7,8% |
| Net gaming revenue (NGR) | 81,2 | 75,7 | 7,3% |
| Turnover excluding NGR | 26,4 | 24,7 | 6,8% |
| Fidelity program | -0,9 | -0,8 | 20,1% |
| Total consolidated turnover | 106,7 | 99,6 | 7,1% |
2.2 – Aggregate 12 months
| In €M | 2019 | 2018 | Variation |
|---|---|---|---|
| Gross gaming revenue (GGR) | 672,7 | 638,7 | 5,3% |
| Levies | -334,6 | -318,1 | 5,2% |
| Net gaming revenue (NGR) | 338,1 | 320,7 | 5,4% |
| Turnover excluding NGR | 98,8 | 93,3 | 5,9% |
| Fidelity program | -3,4 | -3,2 | 7,7% |
| Total consolidated turnover | 433,5 | 410,8 | 5,5% |
3- Breakdown of turnover by activity
3.1 – 4 th quarter
| In €M | 2019 | 2018 | Variation |
|---|---|---|---|
| Casinos | 95,6 | 90,1 | 6,2% |
| Hotels | 2,7 | 2,7 | -1,1% |
| Other | 8,4 | 6,9 | 21,9% |
| Total consolidated turnover | 106,7 | 99,6 | 7,1% |
3.2 – Cumul 12 mois
| In €M | 2019 | 2018 | Variation |
|---|---|---|---|
| Casinos | 394,1 | 375,3 | 5,0% |
| Hotels | 8,5 | 9,0 | -5,3% |
| Other | 30,8 | 26,5 | 16,4% |
| Total consolidated turnover | 433,5 | 410,8 | 5,5% |
4- Glossary
The "Gross Gaming Revenue" corresponds to the sum of the various operated games, after deduction of the payment of the winnings to the players. This amount is debited of the "levies" (i.e. tax to the State, the city halls, CSG, CRDS).The «Gross Gaming Revenue» after deduction of the levies, becomes the "Net Gaming Revenue ", a component of the turnover.
FINANCIAL INFORMATION
