CIRSA earned €158 million in operating profits in the second quarter of 2023
- The sustained growth in all the markets where the company operates and the efficient execution of its strategy allowed it to improve its operating profit by 19,5% compared to the second quarter of 2022.
- The Group has earned a 12-point rating in the Sustainalytics assessment of its ESG commitments and results, placing it among the industry’s top three companies in the world.
Terrassa, 7th September 2023 – CIRSA, the leading global gaming and entertainment company and the market leader in Spain, reported an operating revenue of €500 million and an operating profit of €158 million in the second quarter of 2023.
These results confirm the company’s strong business growth trend thanks to its strategy of focusing on key markets and of continuously improving service quality and supply. This means that it has exceeded operating revenue by 26,5% and operating profit by 19,5% with respect to the second quarter of 2022.
Additionally, the Group has obtained a 12-point rating in the assessment carried out by Sustainalytics(1) annually, a score that places CIRSA in the low risk category in ESG matters. This places it among the top 3 companies in the gaming sector and among the top 10 in the category of Consumer Services worldwide in terms of sustainability.
Joaquim Agut, Executive Chairman of the CIRSA Group, points out the value of the rating, highlighting ‘the great progress the company has made in ESG over the past few years as a result of the effort and good work performed by all of the company’s divisions.’ He adds, ‘ESG criteria are a fundamental pillar in our corporate strategy and we will remain committed to the initiatives identified as being the most relevant to our industry.’
Highlights of the second quarter of 2023 CASINOS
The results of the casino and gaming room division have continued to grow thanks to service improvements and to the continued expansion of the product offering with innovative models demanded by our customers. At the same time, our actions have focused on the execution of commercial plans focused on improving the quality of points of sale, the growth of the customer base and the improvement of margins. This is a result of both the increase in revenue and the execution of cost efficiency projects in all the geographical areas where the company operates. In the Interactive area, which specialises in gaming room management systems, the growth in Forward Systems installations throughout Spain continued.
SLOT MACHINES – SPAIN
The business and results of the division continue to evolve at a very good pace thanks to the strong performance of the latest generation of products recognized for their reliability and innovation, such as the new Manhattan Party machine for the Bars and Restaurants channel. The priority has been to continue with the correct execution of commercial plans based on a selective search for the highest quality points of sale, with the installation of the product being adapted to each location and improved efficiency in our logistics and service platform.
In the industrial area, actions taken in raw material and component cost improvements and the progressive normalization of supply chain lead times have been decisive factors in improving results.
SLOT MACHINES – ITALY
Operations in Italy have seen a significant improvement in revenue from 2022, where we highlighted the speed in the installation of products in new premises and in existing ones.
The full incorporation of Modena Giochi and the implementation of the synergies produced by the purchase have significantly contributed to the EBITDA growth of Slot Machines Italy.
ONLINE GAMING AND BETTING
The online gaming and sports betting division continues to show its strength with significant growth in both volume and margin across all the markets where it operates, progressively increasing its weight within the Group. Multichannel and customer intelligence strategies continue to pay off and have been complemented by the good performance of procurement channels, which in turn are favoured by both the sports agenda and the excellent activation of Manchester City sponsorship.