Home > Finance > Full year results > Partouche FY revenue up 81.8% year-on-year

Partouche FY revenue up 81.8% year-on-year

| By Marese O'Hagan
Group Partouche reported gross gaming revenue (GGR) of €636.7m (£563.1m/$629.5m) in its full-year 2021-22 results ended 31 October 2022.

This was a significant rise of 81.8% compared to the GGR of €350.2m generated in Partouche’s 2020-21 financial year.

Slot machines generated the highest GGR for Partouche during the year, coming in at €500m – more than double the year-on-year figure of €224.6m.

Partouche’s non-electronic games accounted for €68.2m of the total GGR, an uptick from €61.4m in the previous financial year, while GGR from electronic games grew significantly by 131.8% to €68.4m.

No GGR was recorded for sports betting during the year.

Consolidated revenue

After Partouche paid gambling levies at €331.1m – a further increase from €134.2m in 2020-21 – the net revenue for the year was €305.5m, an increase of 41.5%.

A total of €86.1m in revenue – excluding net gaming revenue – coupled with a loss of €2.8m in costs associated with its loyalty programme, brought Partouche’s total consolidated revenue to €388.8m. This was a rise of 52% from €255.7m recorded in 2021.

The consolidated revenue was also up on the total in 2020, which was €343.5m. However, it was still a considerable decline on pre-pandemic revenue of €410.8m in 2019.

Of this total turnover, €352.4m came from casino operations. This was up by 69.6% year-on-year. Hotels accounted for €27.9m of the total turnover, while €43.4m came from other operations.

Operating income

The turnover was affected by a multitude of costs. The highest of these were staff costs, which totalled €168.0m – up by 61.2% yearly.

Purchases and external charges fell by 6.9% to €122.0m. The third highest cost for the year came from depreciation and impairment of fixed assets, at €51.5m – up by 4.7%.

The remaining costs were made up of dues and taxes and other current operating expenses.

This brought the current operating income to €23.1m for the year, a rise of €69.5m.

Other non-current operating incomes at €3.5m, coupled with the result of sale of consolidated holdings at €14.1m, brought the total operating income to €40.7m, up by 86.2% yearly.

Financial costs of €2.3m brought the pre-tax profit to €38.4m, up by €87.7m.

After considering income taxes at €500,000, value added tax at €1.7m and adjustment due to equity accounting at €100,000, the total net income for the year was €37.1m. This was an increase of €93.0m year-on-year.

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