Partouche regains momentum with 20% operating margin
In the first half of the 2022-2023 fiscal year, France’s number-two casino group Partouche posted a year-on-year net profit of €18.8 million. The previous year, Partouche’s accounts were in surplus only because the group had sold its stake in the Swiss casino of Crans-Montana and settled disputes with the Belgian state (for 17.5 million euros). The commercial dynamism seems to have returned to Partouche!
Good sales growth for Groupe Partouche in 2022-2023
From November 2022 to April 2023, Partouche’s net profit fell by 23.6% to 18.8 million euros, compared with 24.6 million euros in the same period the previous year, which was marked in particular by the sale of the Group’s stake in the Crans-Montana casino.
However, it is worth noting that Partouche sales are up 15.2% to 215.6 million euros. The French casino operator’s operating profit almost doubled in 2022-2023, to 19.3 million euros from 9.7 million euros a year earlier. To explain this, Groupe Partouche Chairman and CEO Fabrice Paire cites ” renewed dynamism “by the brand’s casinos.
” On sales, we recorded an EBITDA margin of almost 20%. This means that we are returning to rather high levels of performance. “explains Fabrice Paire.
Excellent performance of online casino games in Switzerland
Partouche, which celebrated its fiftieth anniversary this yearalso welcomed ” the excellent performance of online casino gaming in Switzerland “whose operating profit has returned to a certain equilibrium, two years after their launch. ” This gives us confidence, which we need, as the revenues we generated from operating the casino in Middelkerke, Belgium, are still in deficit by 2.5 million euros. “says Fabrice Paire.
It has to be said that Partouche, subject to obtaining the requisite license, has ambitions to launch an online gaming activity in Belgium, in partnership with iGaming supplier Betsson: ” We’re delighted to have reached this agreement with the Swedish group, which is a major player in the market. It’s an exceptional partner with whom we’re sure to be able to carry out further actions in other territories. “explains the Chairman of Partouche’s Management Board.
With regard to Partouche’s other activities, for the first half of the 2022-2023 fiscal year, the hotel business reported an operating loss of €2.3 million. Results from the restaurant business have not yet been published. For the rest, results for the third quarter of the current year are expected on September 12, after the close of trading.