Turismo
OEG: consolidated unaudited results for Q1 2018
Key performance indicators of the Group
Key developments of the Group during Q1 of 2018:
Key developments after the balance sheet date:
The Group's consolidated total revenue before gaming taxes by segments:
Number of casinos by segment:
Overview by markets
Estonia
Total revenue before gaming taxes of Estonian segment for Q1 of 2018 amounted to EUR 14.7 million (+2.3 m€, +18.3%), EBITDA to EUR 3.2 million (+1.8 m€, +123.0%) and operating profit to EUR 2.3 million (+1.7 m€, +307.0%). Gaming revenue before gaming taxes increased 15.5% y-o-y amounting to EUR 11.9 million.
At the end of March 2018, there were 24 Olympic casinos with 988 slot machines, 37 electronic roulette terminals, 24 gaming tables and 24 poker tournament tables operating in Estonia. As at 31 March 2018 Estonian operations employed 738 people.
Latvia
Total revenue before gaming taxes of Latvian segment for Q1 of 2018 amounted to EUR 16.3 million (-0.2 m€, -1.5%), EBITDA to EUR 5.9 million (-0.9 m€, -13.8%) and operating profit to EUR 4.8 million (-1.1 m€, -18.0%). Gaming revenue before gaming taxes decreased 2.1% y‑o‑y amounting to EUR 14.8 million.
At the end of March 2018, there were 53 Olympic casinos with 1,457 slot machines, 8 electronic roulette terminals, 24 gaming tables and 9 poker tournament tables operating in Latvia. As at 31 March 2018 Latvian operations employed 922 people.
Lithuania
Total revenue before gaming taxes of Lithuanian segment for Q1 of 2018 amounted to EUR 6.0 million (-1.0 m€, -14.6%), EBITDA to EUR 0.7 million (-0.4 m€, -37.8%) and operating profit to EUR 0.2 million (-0.4 m€, -63.7%). Gaming revenue before gaming taxes decreased 15.6% y-o-y amounting to EUR 5.6 million.
At the end of March 2018, there were 17 Olympic casinos with 507 slot machines, 8 electronic roulette terminals, 53 gaming tables and 2 poker tournament tables and 25 betting shops operating in Lithuania. As at 31 March 2018 Lithuanian operations employed 742 people.
Slovakia
Total revenue before gaming taxes of Slovak segment for Q1 of 2018 amounted to EUR 4.0 million (-0.5 m€, -11.5%), EBITDA to EUR 0.4 million (-0.1 m€, -15.0%) and operating profit to EUR 0.1 million (-0.1 m€, -40.3%). Gaming revenue before gaming taxes decreased 13.2% y-o-y amounting to EUR 3.5 million.
At the end of March 2018, there were 6 Olympic casinos with 251 slot machines, 30 electronic roulette terminals, 39 gaming tables and 18 poker tournament tables operating in Slovakia. As at 31 March 2018 Slovak operations employed 332 people.
Italy
Total revenue before gaming taxes of Italian segment for Q1 of 2018 amounted to EUR 8.2 million (+0.3 m€, +3.5%), EBITDA to EUR 0.7 million (+0.1 m€, +10.4%) and operating profit to EUR 0.5 million (+0.05 m€, +11.6%). Gaming revenue before gaming taxes increased 3.6% y-o-y amounting to EUR 8.1 million.
At the end of March 2018, there were 14 VLT slot casinos with 523 slot machines operating in Italy. As at 31 March 2018 Italian operations employed 87 people.
Malta
Total revenue before gaming taxes of Maltese segment for Q1 of 2018 amounted to EUR 3.3 million (+0.2 m€, +5.5%), EBITDA to EUR 0.1 million (+0.6 m€) and operating loss to EUR 0.2 million (+0.6 m€). Gaming revenue before gaming taxes increased 5.5% y-o-y amounting to EUR 3.2 million.
At the end of March 2018, there was 1 casino with 285 slot machines, 18 electronic roulette terminals, 21 gaming tables and 10 poker tournament tables operating in Malta. As at 31 March 2018 Maltese operations employed 210 people.
Financial position
As at 31 March 2018, the total assets of the Group amounted to EUR 176.2 million, up 11.2% or EUR 17.8 million compared to the same period a year ago.
Current assets totalled EUR 72.0 million or 40.9% of total assets, and non-current assets EUR 104.2 million or 59.1% of total assets. The liabilities amounted to EUR 23.5 million and equity to EUR 152.7 million. The largest liabilities included suppliers payables and advances (7.5 m€), tax liabilities (6.1 m€) and payables to employees (6.0 m€).
Investments
Within Q1 of 2018, the Group's expenditures on property, plant and equipment totalled EUR 2.4 million (+0.8 m€, +52.8%), of which EUR 2.3 million was invested into construction and reconstruction of casinos and EUR 0.1 million into new gaming equipment.
Cash flows
Group's Q1 2018 cash flows generated from operating activities amounted to EUR 10.1 million (-0.01 m€) and cash flows used in investing activities to EUR -4.2 million (-1.7 m€). Financing cash flows amounted to EUR 0 million (+0.03 m€). Net cash flows totalled EUR 5.9 million (-1.7 m€).
Staff
As at 31 March 2018 Group employed 3,031 people, up by 8 y-o-y.
Within Q1 of 2018, total personnel expenses amounted to EUR 14.0 million (+0.5 m€, +3.9%). For Q1 of 2018, the members of the Management Board and Supervisory Board of all Group entities were paid remuneration and benefits including social security taxes in the amount of EUR 316 thousand (EUR 270 thousand for Q1 of 2017) and EUR 37 thousand (EUR 37 thousand for Q1 of 2017), respectively.
Consolidated statement of financial position
Consolidated statement of comprehensive income
* euro cents
Madis Jääger
CEO
Olympic Entertainment Group AS
Tel + 372 667 1250
E-mail madis.jaager@oc.eu
http://www.olympic-casino.com
Attachment
2321 Rosecrans Avenue. Suite 2200
90245 El Segundo Stati Uniti