Higher online sales boost Gamenet revenue
In the first half of 2018 the Gamenet Group recorded revenues of € 3.5 billion, up 1% compared to the same period of 2017. Consolidated Revenues – read in the Consolidated Half-Year Financial Report at 30 June 2018 – are amounted to 297.3 million euro, up + 3.5% gross of the increase in the PREU, compared to euro 304.3 million in the first half of 2017 (-2.3%).
EBITDA amounted to € 43.6 million, + 20% compared to € 36.3 million in the first half of 2017. The Net Result was € -5.6 million compared to € -1.3 million in the first semester of last year.
The Net Result between January and June 2018 would have been positive and equal to € 4.9 million excluding the extraordinary items, mainly related to the assessment with adhesion occurred during the first quarter and the costs incurred for the refinancing of the bond loan, for a total of € 10.5 million.
Following the end of the first half, Gamenet Group announced the agreement to acquire 100% of GoldBet. With reference to the transaction, Gamenet was assisted by Unicredit, Nomura and Intermonte as financial advisors.
“The positive trend of betting and online continues. We are reaping the benefits of our distribution insourcing and vertical integration strategy in retail, which has contributed greatly to the increase in profitability. Furthermore, gaming machines show a positive trend, with a significant improvement in unit profitability “, commented Guglielmo Angelozzi, CEO of Gamenet Group. “Overall, the first half results indicate a clear trajectory for the whole year. Finally, we are very satisfied with the recent agreement to acquire 100% of GoldBet, which further strengthens our leadership in Italy and transforms us into a European player “.