Novomatic Reports Loss Despite 2018 Growth

April 29, 2019 by

Online gaming technology supplier Novomatic has recently released their financial results for 2018, reporting a loss of €131.9 million for the year due to higher operating costs despite a 10.5% rise in revenue compared to the year before. Revenue before their taxes and betting fees for the 12 months that ended on the 21st of December 2018 came to €2.61 billion, which is up from €2.37 billion for the year previously.

Novomatic has reportedly put this down to growth across many of their main European markets, especially those in Italy and Spain. Sales within Italy have increased from €371.7 million for 2017 to €401.1 million, while the Spanish market saw sales increase by a total of 20%, increasing from €126.4 million to €152.1 million. Despite these growths, Germany remains as their main source of income generation for the operator, and they saw an increase of revenue from €722.4 million to €724 million, with revenue from the Austrian market also some growth, increasing from €335.9 million to €373.6 million.

The operator reported that revenue had continued to rise from all of their markets within Europe as well as the rest of the world, where they revenue improve from €77.2 million to €219.5 million. The supplier noted a decline in their online sales, which dropped from €146.5 million to €110.2 million. Despite the declines, overall revenue for gaming technology increased from €840.2 million to €968.1 million, while operation sales saw an increased from €1.52 billion to €1.64 billion.

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