GROUPE PARTOUCHE: Very good 2023 operational performance - Turnover up by +9.0% to € 423.8 M

Very good 2023 operational performance
Turnover up by +9.0% to € 423.8 M

Paris, 12th December 2023, 06:00 p.m. Groupe Partouche an European leader in gaming, published this day its consolidated turnover for the 4th quarter of fiscal year 2023 (August to October 2023) and for the entire fiscal year (November 2022 to October 2023).

As a preamble, Groupe Partouche reminds that the entire 2023 financial year took place under normal operating conditions since the outbreak of the Covid 19 epidemic early 2020. In fact, health restrictions were still in force in France and internationally in the first half of the previous financial year until their complete lifting mid-March 2022 (impact over 4.5 months). Furthermore, the Group has since operated in an inflationary environment and rising interest rates, creating a more demanding economic context which underlines the quality of the operational performance recorded by the Group in 2023, the year of its 50th anniversary.

Annual turnover 2023 up by +9,0 % à € 423.8 M

For 2023 financial year, the Gross Games Revenue (GGR) increases by +10.2% to € 701.5 M, compared to € 636.7 M a year earlier. In the 4th quarter of 2023 (Q4), the GGR increases by +1.7% to € 181.8 M, a satisfactory performance given the high basis of comparison (post-Covid catch-up effect in the 2nd half of 2022).

In France, the annual GGR improves by +9.7% to € 630.5 M, mainly driven by all types of games: +20.3% for electronic games, +11.7% for non-electronic table games and +7.9% for slot machines. In Q4 2023, GGR reaches € 163.0 M, an increase of +0.4% compared to Q4 2022.

Internationally, the annual GGR grows by +15.1% year-on-year, to € 71.1 M, including a favourable exchange rate effect of +€ 2.5 M linked to the Meyrin casino in Switzerland. From an activity point of view, growth is fuelled by the strong dynamic of the Swiss online games GGR (+41.6%). The exit from the scope of the Crans-Montana casino in Switzerland in January 2022 (-€ 2.5 M) is offset by the performance of the Middelkerke casino in Belgium, which entered the Group's fold in July 2022 (+€ 2.6 M). In Q4 2023, the GGR stands at € 18.8 M, an increase of +14.0% compared to Q4 2022.

In total, the Net Gaming Revenue after levies, amounts to € 332.9 M over 12 months, up +9.0% compared to 2022. In the 4th quarter of 2023, it stands at € 77.7 M. (+0.7% compared to Q4 of the previous financial year).

Non-gaming turnover increases by +9.5% to € 94.3 M, driven by the Hotels activity (+12.8%) in line with the good trend of the Group's hotels. The Other sector is down (-4.7%) to € 11.9 M taking into account the exit of the “Le Laurent” restaurant (impact of -€ 1.9 M).

In total, after taking into account the scope1 effects over the period, the 2023 annual turnover stands at € 423.8 M, an growth of +9.0% compared to 2022. It comes to € 103.1 € M in Q4 2023, recording a satisfactory increase compared to Q4 2022 of +2.4%.

Renewal of the concession of Meyrin Casino in Switzerland.

The Swiss Federal Council has granted the Meyrin Casino the renewal of its gaming concession and its online gaming site for twenty years as from 1st January 2025.

Sustainable development: Groupe Partouche has joined the SDG Ambition accelerator

After joining the United Nations Global Treaty early 2023, Groupe Partouche has joined its SDG Ambition Accelerator program in October. This 6-month program helps companies to set ambitious goals and accelerate the integration of the SDGs (Sustainable Development Goals) into their management in order to contribute to the sustainability of the company and society. Groupe Partouche has chosen to work in particular on subjects concerning the management of water resources.

Organisation of the World Series of Poker

Groupe Partouche, with the support of TexaPoker, will organise the next World Series of Poker (WSOP) which will take place at the end of May 2024 at the Jean Bouin stadium in Paris, an event which will undoubtedly mark an important moment in the French poker agenda. This festival will be an opportunity to qualify for the 2024 WSOP in Las Vegas.

Upcoming events: Income of fiscal year ended 31st October 2023: Tuesday 30th January 2024, after stock market closure.

Groupe Partouche was established in 1973 and has grown to become one of the market leaders in Europe in its business sector. Listed on the stock exchange, it operates casinos, a gaming club, hotels, restaurants, spas and golf courses. The Group operates 41 casinos and employs nearly 3,900 people. It is well known for innovating and testing the games of tomorrow, which allows it to be confident about its future, while aiming to strengthen its leading position and continue to enhance its profitability. Groupe Partouche was floated on the stock exchange in 1995, and is listed on Euronext Paris, Compartment . ISIN : FR0012612646 - Reuters PARP.PA - Bloomberg : PARP:FP Reuters : PARP.PA - Bloomberg : PARP:FP


1- Consolidated turnover

In €M20232022Variation
1st quarter (November N-1 to January N)116.4 98.1 +18.6%
2nd quarter (February to April)99.2 89.1 +11.4%
3rd quarter (May to July)105.1 100.9 +4.1%
4th quarter (August to October)103.1 100.7 +2.4%
Total consolidated turnover423.8 388.8 +9.0%

2- Construction of the consolidated turnover

2.1 – Fourth quarter

In €M20232022Variation
Gross Gaming Revenue (GGR)181.8 178.8 +1.7%
Levies-104.2 -101.7 +2.4%
Net Gaming Revenue (NGR)77.7 77.1 +0.7%
Turnover excluding NGR26.1 24.0 +9.0%
Fidelity Program-0.7 -0.4 +60.3%
Total consolidated turnover103.1 100.7 +2.4%

2.2 – Aggregate 12 months

In €M20232022Variation
Gross Gaming Revenue (GGR)701.5 636.7 +10.2%
Levies-368.6 -331.1 +11.3%
Net Gaming Revenue (NGR)332.9 305.5 +9.0%
Turnover excluding NGR94.3 86.1 +9.5%
Fidelity Program-3.4 -2.8 +21.0%
Total consolidated turnover423.8 388.8 +9.0%

3- Breakdown of turnover by activity

3.1 – Fourth quarter

In €M20232022Variation
Casinos 91.5 90.1 +1.6%
Hotels8.4 7.6 +10.1%
Other3.1 2.9 +8.5%
Total consolidated turnover103.1 100.7 +2.4%

3.2 – Aggregate 12 months

In €M20232022Variation
Casinos 383.8 351.4 +9.2%
Hotels28.1 24.9 +12.8%
Other11.9 12.5 -4.7%
Total consolidated turnover423.8 388.8 +9.0%

4- Glossary

The "Gross Gaming Revenue" corresponds to the sum of the various operated games, after deduction of the payment of the winnings to the players. This amount is debited of the "levies" (i.e. tax to the State, the city halls, CSG, CRDS).
The «Gross Gaming Revenue» after deduction of the levies, becomes the "Net Gaming Revenue ", a component of the turnover.

1 The entry into the Group of the Middelkerke casino (Belgium) from 1st of July 2022 for an opening on 8th of July after some works, sale of the stake held in the Crans-Montana casino (Switzerland) on 31st of January 2022 and the end of the concession of the restaurant « Le Laurent » as from 7th March 2022.



Turnover - Q4 2023