CIRSA achieves €132.1 million operating profit in the second quarter of 2022
Operating revenue grew by 61.7% thanks to the favourable evolution of Latin America and the good level of activity in Europe
Terrassa,7 September 2022 – CIRSA, a leading global gaming and entertainment company and Spain’s market leader, has reported an operating profit of €132.2 million in the second quarter of 2022 (+63.1% vs. 2021). Operating revenue from April to June amounted to
€400.2 million (+61.7% vs. 2021). Compared to pre-COVID figures in 2019, operating profit in the second quarter stood at +18.8%.
In the first half of 2022, EBITDA was €250.3 million (+128.2% vs. H1 2021) and operating revenue reached €778.4 million (+92.7%), successfully consolidating the recovery that began in the second half of 2021 and improving the 2019 results for the same period.
These results have been made possible thanks to the implementation of the operational plans prepared by different business units, which were already put into operation in all markets under normal conditions in terms of operating hours and other restrictions. The Group’s commitment will remain focused on improving results, concentrating on customer service and productivity, the two fundamental pillars in the Group’s sustainable growth, even in an adverse macroeconomic environment.
In line with the strategy relating to selective purchases in markets where the Group is present, the Company reached a management agreement to operate the only casino in the city of Tangier (Morocco). Already at the start of the third quarter, was closed the acquisition of a 60% stake in Eplay24, an Italian sports betting and online gaming operator with a strong omnichannel activity.
Q2 2022 Highlights CASINOS
- The division maintained the recovery that started in the first quarter of 2022 thanks to the recovery and increase in visitors, the excellent implementation of commercial plans and the reopening of casinos in Morocco in May, after more than two years of inactivity. Revenue performance has continued to improve month-on-month in all countries, with revenues in June over those of 2019.
- Models developed by the B2B division (UNIDESA) continued contributing to the great results of this division, which consolidated the revenue recovery in the first quarter of 2022.
- Following the same trend, Italy recorded an improvement in revenue in both VLT and AWP machines and in halls.
- The Arcades Division also consolidated the improvement that began in the first quarter, achieving levels of activity higher than the pre-COVID period thanks to the systematic execution of commercial plans and the operational improvements implemented.
- The results of the sports betting division were very positive, supported by the favourable seasonality of the sports calendar. Excellent customer intelligence management and the brand’s omnichannel approach continued to be key to maintaining the pace of growth in all its channels and markets.
- From April to June, the division continued to improve the level of results based on the customer loyalty and recovery actions, implemented since the lifting of restrictions.
B2B – UNIDESA
- The second quarter saw the consolidation of the new product in the Manhattan line, Manhattan Reelvolution, the best-selling product in the Hospitality channel, which, together with the Kong Chita model, allowed the brand to reaffirm its leadership in the Horeca channel in Spain. In the Arcades subsector, the marketing of Dragon Bonus and Fireshot Link was launched.
- The Interactive division, which specialises in arcade management systems, also saw an increase in market share thanks to new functionalities.