Novomatic Reports 55% Revenue and 230% Profit Increase in 2022

Novomatic AG, the Austria-headquartered  gaming equipment developer, and operator reported that the group generated gross revenue of EUR2.86 billion (US$3.14 billion) in the financial year 2022 which represents a 55.2 percent increase over the preceding year.

Net Income and Profit:

The company’s 2022 earnings comprise revenues generated by its worldwide verticals and affiliates, which earnings after the deduction of operating expenses (known as EBIDTA) represented the operator’s net income and aggregated to EUR758.9 million. As GGRasia reports,  Novomatic’s 2022 net income accounted for a 29.2-percent growth over its 2021 p in its annual report released earlier this month.

Novomatic’s report also furbished information on the company’s net profit in the full year 2022. It reportedly amounted to EUR214.3 million and stood for an increase of 230.0 percent in comparison to the year before.

Continuous Expansion:

Founded in 1980, Novomatic is the largest conglomerate of gaming companies in the world, comprising over 30 distinct entities. Its gaming products serve over 70 countries in one form or another from RNG game development to skill games and platform solutions. With the leading market position anchored in Europe and the Americas for decades, the group has been expanding to Asia-Paci hot646 fic markets through various acquisitions of the majority of shares of the local operators and slot machine and software developers.

Great Product Performance:

In its report issued at the end of Q1 2023 for the financial year 2022, Novomatic reportedly indicated that the higher revenue level  “was due to reduced Covid-19 measures, as well as the good performance” of new gaming products of the company, which reportedly saw increased demand in 2022.

In addition to the great performance of the gaming product segment, the company also experienced significant growth in its casino and gaming operations and wagering facilities. In 2022, this segment generated revenues 72.7 percent higher than the year earlier to stand for the full-year p of almost EUR1.79 billion. Likewise, the group’s gaming technology division saw EUR1.07 billion in gross generated revenues to mark an increase of 33.0 percent on a year-on-year basis.

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GGRAsia also reports that Novomatic designated the “high quality” of its new products, as well as “their excellent performance”  as the key drivers for the growth. The company reportedly stated that this factor had a “positive impact on all business areas within the group.”

Continuous Expansion Rising Profit Figures:

It reportedly added:  “Novomatic successfully continued its international course of expansion in the year under review and achieved a number of significant milestones in 2022, both by making several smaller acquisitions in various markets and by means of the strategically important majority acquisition of the Italian HBG Group, which marks one of the largest transactions in Novomatic’s history.”

According to the source, Novomatic also used the 2022 Financial Report to inform that the group refinanced and reduced some of its financial liabilities and made some new financial arrangements more convenient for the company. It seems that Novomatic uses the favorable 2022 ps to reduce operating expenses and establish grounds for further growth in the years to come.