Novomatic AG Hits a record-breaking year
Novomatic AG announced in January that it is continuing with the $354.5 million idea to buy the major stake in Ainsworth Game Technology Limited. One of the biggest Austrian gambling company, Novomatic AG, released its financial records for the past year. The records show that the total sales hit an impressive €4.9 billion (US$5.89 billion). This is a first for the Australian company in its 37-year long history.
Novomatic AG – Gaming Operations
Novomatic AG that is based in Gumpoldskirchen-headquarters disclosed that sales from their technology businesses and core gaming operations have increased by 11% every year to top €2.52 billion (US$3.03 billion). It had also employed an additional 1,687 employees to its ranks, which brings its total employee count to 25,536. The company also has 3,300 employees that are based in Austria.
Novomatic AG – Returns
Novomatic AG announced that its annual returns had risen by 20% every year. The company said it reached US$1.91 billion even though its 2017 technology and machine trades figures had dropped by 1% to US$1.12 billion.
The gaming operator said that its general business remained stable during 2017 with annual earnings before the interest, depreciation, tax, and remuneration increasing slightly to US$705.89 million. Its effective cash flow of US$503.85 million signified a 2.3% decrease.
Harald Neumann, Chief Executive Officer for Novomatic AG, said that Spain was the growth carter with the sales increase of 50%. However, the other main markets such as Eastern Europe and Central, Great Britain and Italy did well in 2017.
Novomatic AG – Overview
Novomatic AG said that it made investments of US$781.62 million in 2017. The operator’s total tax and duty expenses had increased by more than 26% yearly to US$648.12 million. This includes US$109.44 million to its government