Increased Costs Hamper Novomatic H1 ResultsShare This Tags
Novomatic the giant slot machine supplier and operator reported its half yearly results for the first six months of 2023, showing a rise in revenues from €1.32 billion last year to €1.58 billion this year.
The company said the increase was down to across the board performance in both demand for their slot machines and increase in rentals, although a rise in its online division helped the revenue rise.
Indeed the rental of Novomatic machines saw the biggest increase in revenues by €124.5 million, that is a rise of 20.8% and overall Novomatics technology division saw total revenues of €574.2 million, helped in particular by Germany, Italy and Eastern Europe which in total saw a rise of €90.9 million.
However those revenue rises did not offset the increasing costs for the company which included taxes, fees and material costs rising by 29.6% for the period.
Following those increases Novomatic reported profits before interest, tax, depreciation and amortisation of €386.1 million which does represent a rise from the previous period of 3.9%.