GROUPE PARTOUCHE: Very good 2023 operational performance - Turnover
up by +9.0% to € 423.8 M
Very good 2023 operational
performanceTurnover up by +9.0% to € 423.8
M
Paris, 12th December 2023, 06:00 p.m. Groupe
Partouche an European leader in gaming, published this day its
consolidated turnover for the 4th quarter of fiscal year 2023
(August to October 2023) and for the entire fiscal year (November
2022 to October 2023).
As a preamble, Groupe Partouche
reminds that the entire 2023 financial year took place under normal
operating conditions since the outbreak of the Covid 19 epidemic
early 2020. In fact, health restrictions were still in force in
France and internationally in the first half of the previous
financial year until their complete lifting mid-March 2022 (impact
over 4.5 months). Furthermore, the Group has since operated in an
inflationary environment and rising interest rates, creating a more
demanding economic context which underlines the quality of
the operational performance recorded by the Group in 2023, the year
of its 50th
anniversary.
Annual turnover 2023 up by +9,0 % à €
423.8 M
For 2023 financial year, the Gross Games
Revenue (GGR) increases by +10.2% to € 701.5 M, compared
to € 636.7 M a year earlier. In the 4th quarter of 2023 (Q4),
the GGR increases by +1.7% to € 181.8
M, a satisfactory performance given the high basis of
comparison (post-Covid catch-up effect in the 2nd half of
2022).
In France, the annual GGR
improves by +9.7% to € 630.5 M, mainly driven by all types of
games: +20.3% for electronic games, +11.7% for non-electronic table
games and +7.9% for slot machines. In Q4 2023, GGR reaches € 163.0
M, an increase of +0.4% compared to Q4 2022.
Internationally, the annual GGR
grows by +15.1% year-on-year, to € 71.1 M, including a favourable
exchange rate effect of +€ 2.5 M linked to the Meyrin casino in
Switzerland. From an activity point of view, growth is fuelled by
the strong dynamic of the Swiss online games GGR (+41.6%). The exit
from the scope of the Crans-Montana casino in Switzerland in
January 2022 (-€ 2.5 M) is offset by the performance of the
Middelkerke casino in Belgium, which entered the Group's fold in
July 2022 (+€ 2.6 M). In Q4 2023, the GGR stands at € 18.8 M, an
increase of +14.0% compared to Q4 2022.
In total, the Net Gaming
Revenue after levies, amounts to € 332.9
M over 12 months, up +9.0% compared to 2022. In the 4th
quarter of 2023, it stands at € 77.7 M. (+0.7% compared to Q4 of
the previous financial year).
Non-gaming turnover increases by +9.5% to € 94.3
M, driven by the Hotels activity (+12.8%) in line with the good
trend of the Group's hotels. The Other sector is down (-4.7%) to €
11.9 M taking into account the exit of the “Le Laurent” restaurant
(impact of -€ 1.9 M).
In total, after taking into account the scope1
effects over the period, the 2023 annual turnover stands at
€ 423.8 M, an growth of +9.0% compared to 2022. It comes
to € 103.1 € M in Q4 2023, recording a satisfactory increase
compared to Q4 2022 of +2.4%.
Renewal of the concession of Meyrin
Casino in Switzerland.
The Swiss Federal Council has granted the Meyrin
Casino the renewal of its gaming concession and its online gaming
site for twenty years as from 1st January 2025.
Sustainable development: Groupe
Partouche has joined the SDG Ambition accelerator
After joining the United Nations Global Treaty
early 2023, Groupe Partouche has joined its SDG Ambition
Accelerator program in October. This 6-month program helps
companies to set ambitious goals and accelerate the integration of
the SDGs (Sustainable Development Goals) into their management in
order to contribute to the sustainability of the company and
society. Groupe Partouche has chosen to work in particular on
subjects concerning the management of water resources.
Organisation of the World Series of
Poker
Groupe Partouche, with the support of TexaPoker,
will organise the next World Series of Poker (WSOP) which will take
place at the end of May 2024 at the Jean Bouin stadium in Paris, an
event which will undoubtedly mark an important moment in the French
poker agenda. This festival will be an opportunity to qualify for
the 2024 WSOP in Las Vegas.
Upcoming events: Income of
fiscal year ended 31st October 2023: Tuesday 30th January 2024,
after stock market closure.
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, a gaming
club, hotels, restaurants, spas and golf courses. The Group
operates 41 casinos and employs nearly 3,900 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 . ISIN :
FR0012612646 - Reuters PARP.PA - Bloomberg : PARP:FP Reuters :
PARP.PA - Bloomberg : PARP:FP
ANNEX
1- Consolidated turnover
In
€M |
2023 |
2022 |
Variation |
1st quarter
(November N-1 to January N) |
116.4 |
98.1 |
+18.6% |
2nd quarter
(February to April) |
99.2 |
89.1 |
+11.4% |
3rd quarter (May
to July) |
105.1 |
100.9 |
+4.1% |
4th quarter
(August to October) |
103.1 |
100.7 |
+2.4% |
Total
consolidated turnover |
423.8 |
388.8 |
+9.0% |
2- Construction of the consolidated
turnover
2.1 – Fourth quarter
In
€M |
2023 |
2022 |
Variation |
Gross Gaming
Revenue (GGR) |
181.8 |
178.8 |
+1.7% |
Levies |
-104.2 |
-101.7 |
+2.4% |
Net Gaming
Revenue (NGR) |
77.7 |
77.1 |
+0.7% |
Turnover
excluding NGR |
26.1 |
24.0 |
+9.0% |
Fidelity
Program |
-0.7 |
-0.4 |
+60.3% |
Total
consolidated turnover |
103.1 |
100.7 |
+2.4% |
2.2 – Aggregate 12 months
In
€M |
2023 |
2022 |
Variation |
Gross Gaming
Revenue (GGR) |
701.5 |
636.7 |
+10.2% |
Levies |
-368.6 |
-331.1 |
+11.3% |
Net Gaming
Revenue (NGR) |
332.9 |
305.5 |
+9.0% |
Turnover
excluding NGR |
94.3 |
86.1 |
+9.5% |
Fidelity
Program |
-3.4 |
-2.8 |
+21.0% |
Total
consolidated turnover |
423.8 |
388.8 |
+9.0% |
3- Breakdown of turnover by activity
3.1 – Fourth quarter
In
€M |
2023 |
2022 |
Variation |
Casinos |
91.5 |
90.1 |
+1.6% |
Hotels |
8.4 |
7.6 |
+10.1% |
Other |
3.1 |
2.9 |
+8.5% |
Total
consolidated turnover |
103.1 |
100.7 |
+2.4% |
3.2 – Aggregate 12 months
In
€M |
2023 |
2022 |
Variation |
Casinos |
383.8 |
351.4 |
+9.2% |
Hotels |
28.1 |
24.9 |
+12.8% |
Other |
11.9 |
12.5 |
-4.7% |
Total
consolidated turnover |
423.8 |
388.8 |
+9.0% |
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.
1 The entry into the Group of the Middelkerke casino (Belgium)
from 1st of July 2022 for an opening on 8th of July after some
works, sale of the stake held in the Crans-Montana casino
(Switzerland) on 31st of January 2022 and the end of the concession
of the restaurant « Le Laurent » as from 7th March
2022.
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