Cirsa earned €630M in operating profits in 2023

In 2023, results progressed very favourably quarter after quarter, both in terms of revenue growth and operating profit, which was 14.1% higher than in 2022. In a complex economic environment, due to the widespread cost increases and geopolitical instability, this achievement has been possible thanks to the efforts of the entire organisation in implementing the scheduled business, efficiency and productivity plans.

In the fourth quarter, the Company achieved operating revenues of €515 million (+7.7% vs. Q4’22) and an operating profit of €163 million (+5.5% vs. Q4’22). The return to pre-pandemic levels of activity already in 2022, which were fully consolidated in 2023 and the implementation of the plans described above have contributed to improved results in all business areas.

According to Joaquim Agut, Executive Chairman of the CIRSA Group, “the favourable evolution of our results is a consequence of the disciplined execution of our strategic plan, focusing on the businesses and geographies where we operate with leadership positions.”

Agut added that “maintaining CIRSA’s leadership and continuing to be a reliable, responsible, and trust-generating company is based on in-depth knowledge of our business and our clients, as well as managing our operations efficiently. Thanks to this, we continue to contribute at the economic, social and environmental levels in the 9 countries where we are present”.

In addition, Sustainalytics recently placed the Group in the top 3 companies in the gaming sector and top 10 in the “Consumer Services” category worldwide in terms of sustainability.

2023 Highlights CASINOS

The positive results of the Casino division in 2023 were due to the improvement in results in all the countries present compared to the previous year. During last year, the Company added several new casinos in Mexico and Panama, and the Tangier casino acquired in 2022 was fully consolidated. The strategy of recent years has continued, with the strict execution of commercial

and efficiency plans, the selective renewal of the facilities and the machines park in more than 20 casinos.

SLOT MACHINES SPAIN

In the fourth quarter, the Slot Machines division in Spain consolidated the best quarter in recent years in both revenue and Ebitda. As a whole, the 2023 financial year finished in an optimal shape thanks to the great performance of the human teams, their orientation towards the end customer, and the adaptation of the products to their tastes and needs, as in the case of the new Manhattan, which reached 35,000 units sold since its launch and has established itself as the best product on the market..

SLOT MACHINES ITALY

In Italy, after a very positive first half of the year in revenues in both AWP and VLT compared to 2022, a slight slowdown was recorded in the second part of the year, due to a less favorable macro context, which was offset by the recent acquisition of Modena Giochi.

In the Retail division, we added two gambling halls that will allow us to boost growth in 2024. The main focus was placed on increasing the performance of the machines, through a product, layout and service review plan, as well as cost control initiatives.

ONLINE GAMING AND BETTING

The year ended with excellent results, with growth in both revenue and EBITDA as compared to the previous year in all geographies, based on our omnichannel strategy. Although the fourth quarter results benchmarked against the 2022 World Cup in Qatar, the strength of the business allowed us to continue on the path of growth. The improvement in operating profit in Italy stands out, which practically doubles compared to 2022, as well as the double-digit growth of the digital business in Spain. Additionally, in Mexico, where revenues grew by 50%, we finalised the local brand migration to Sportium and successfully launched of the sponsorship agreement with the América’s Kings League.