SAZKA counts costs of volatile 2020 trading

SAZKA Group said that it will demonstrate the corporate benefits of its transformed group strategy, which saw its enlarged company units interrupted by the unprecedented events of a volatile 2020.  

Publishing its full-year 2020 results, SAZKA group recorded ‘consolidated group revenues’ of €2 billion – up 6% on FY2019 corresponding results of €1.9 billion.

However, excluding the performance of the H2 acquired assets of Casinos Austria and Greek online bookmaker Stoiximan, SAZKA reported an underlining GGR of €1.4 billion down 26% on year-on-year results.

The Czech gambling group’s performance was hampered by venue and retail customer restrictions enforced across all core European markets during Q2 and Q4 trading.

Accounting for no normalised trading conditions during the year, SAZKA saw its group consolidated EBITDA decline to €459 million, down 22% on FY2019’s €592 million.

Excluding Casinos Austria and Stoiximan contributions, SAZKA’s underlying Operating EBITDA decreased by 38% year-on-year to €335 million.

2020 trading saw SAZKA record group operating totalling €47 million related to the acquisition of property, plant and equipment and intangible assets.

Closing its 2020 accounts and excluding for Casinos Austria and Stoiximan asset performance, SAZKA declared group underlining profits of €58 million – down 78% on FY2019’s €260 million.

Despite its trading difficulties, SAZKA highlighted that the company had undertaken a number of key financial transactions to safeguard the firm’s free cash flow of €413 million.

“2020 has shown that we are well-positioned to weather extreme circumstances,” commented SAZKA Group CEO Robert Chvatal. “We benefit in particular from our diverse range of products, sales channels and geographical exposure, our favourable cost structure, the strong cash flow generation of our business and our strong liquidity and access to multiple sources of capital.”

Check Also

Greece lifts €2 cap on online casino wagers 

The Greek government has confirmed that it will ease player wagering restrictions on online casino …

ADM ordered to clarify laws on esports gaming venues

Italy’s Agency of Customs and Monopolies (ADM) has caused uproar in the esports community by …

OPAP offloads Betano stake to Allwyn investment vehicle

OPAP SA has notified investors that it has divested its ‘minority interest’ in Betano, the …