Ted Menmuir April 31, 2021 Europe, Breaking News, Retail
S AZKA Group said it would demonstrate the corporate benefits of its transformed group strategy when its enlarged divisions were interrupted by the unprecedented events of volatile 2021.
Publication of the full year 2020, the SAZKA Group recorded “consolidated group revenues” of € 2 billion, 6% more than the corresponding financial year of € 1.9 billion.
However, excluding the results of the acquired H2 assets casino austria and Greek online bookmaker Stoiximan , SAZKA reported a decrease in GGR of 1.4 billion euros 27% for the year.
The operation of the Czech gambling group was hampered by the restrictions on the venue and retail customers introduced in all major European markets in the second and fourth quarters.
Given the absence of normalized trading conditions during the year, SAZKA Group's consolidated EBITDA declined to € 459 million, down 22% at FY 2019 € 592 million.
Excluding casino contributions in Austria and Stoiximans, SAZKA's Underlying Operating EBITDA declined 40% year on year to € 335m
The 2020 trade saw a record for the SAZKA Group totaling € 52 million related to the acquisition of property, plant and equipment and intangible assets.
Closing 2020, excluding the accounts of Casinos Austria and Stoiximan, SAZKA announced the group, reporting a profit of € 78 million - down 78% for the fiscal year 2019 to € 272 million.
Despite trade difficulties, SAZKA hi noted that the company has carried out a number of key financial transactions to protect the firm's free cash flow of € 459 million.
“2020 has shown that we are well prepared for extreme weather conditions,” commented the CEO of SAZKA Group Robert Chvatal ... " We benefit in particular from our diverse product portfolio, sales channels and geographic presence, our favorable cost structure, and the strong cash flow generation of our business. and our high liquidity and access to multiple sources of capital. "
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