Novomatic’s H1 2023 financial insights: soaring to a $3.74b valuation through innovative tech & strategic expansions in Europe (Image courtesy of novomatic.com)
The European-based company Novomatic released its H1 financial data last week.
The cutting-edge technology company has built a reputation for designing and rolling out technological solutions for the iGaming industry. Most recently, Novomatic has developed a new casino management system, NOVOVISION.
This software has revolutionised the customisation of gaming machines, betting terminals and cash machines for its partnership operators. The software additionally features exclusive biometric technology to combat the hacking of their systems.
This new gambling application has assisted in the rise in share price for this Vienna-based company as it continues to become a significant player in this sector. Novomatic also acquired key companies in the industry, most importantly HBG Gaming in Italy, which is critical to their sustainable growth/market share throughout Europe. The company is also listed on the land-based arcade slot guide here on Casinoplusbonus as a retail and online casino game provider.
After its Q2 financial report was released, the stock price spiked to 106.90 USD, a new yearly high. Investors received the solid financial performance of Novomatic, and the company has increased its valuation to USD 3.74b. The EBIT (operating profit) increased by 22% to 174.2m USD, with EBITDA up 3.9% in a market analyst determined that only 3% growth was achievable.
The Q2 report was very strong in all relevant sectors, with revenue up almost 20% over the same time last year. Total revenue was $1.7b USD from $1.42b USD, with the majority of the growth coming from Italy and Germany. The rest of Europe and Eastern Europe saw marginal growth.
Breakdown of Novomatic Q2 Results
The company has also increased its workforce by 13.2% to 24,590 employees since last year. This substantial employee increase is an unmistakable sign that the company is proliferating in an environment where other iGaming companies are reducing their personnel to consolidate costs.
Novomatic expects to hit year-end targets with recent expansion in the Asia-Pacific region through a partnership with Tecnet Asia to distribute their gaming solutions. The company will initially focus on the Philippines, noting that the country has an expanding middle class and more disposable income. The company has stated that it is committed to its strategic expansion with partnerships with top-performing companies, promoting their world-class iGaming solutions.
Official Novomatic Financial Figures: For a historical look at the Novomatic financial figures, the company’s investor relations page records all reports dating back to 2007. For further clarification, I have provided access here – Novomatic Financial Press.
| Financial Metrics | Amount (USD) |
|---|---|
| Net Gaming Revenue (overall) | $1.7b (↑ 20% YOY) |
| Operating Profit | $212.6m (↑ 22% from $174.2m) |
| Online Revenue H1 | $23.3m |
| EBITDA | $414.9m (↑ 3.9% YOY) |
| Revenue by Country – Italy | $107.3m |
| Revenue by Country – Germany | $53.1m |
| Revenue by Country – Austria | $23.4m |
| Revenue by Country – UK | $13.5m |
| Revenue by Country – Netherlands | $8.6m |
| Revenue by Country – Spain | $5.6m |
| Revenue by Country – Eastern Europe | $32m |
The Full Summary of Novomatic H1 2023 Financial Data
According to a recent report, NOVOMATIC has reported a remarkable expansion in its revenue across all spheres of operation. The Italian branch takes the lead, registering an impressive growth of €99.9 million, translating to $107.3 million. The German and Eastern European sectors closely follow this positive trend.
Digital Segment and Regional Growth Trends
In the digital segment, NOVOMATIC has not fallen short, registering a significant hike of €21.7 million ($23.3 million) in the first half of this year alone. In addition, other regions, including Austria, the UK, the Netherlands, and Spain, are not far behind in showcasing positive revenue trends. Brands under the digital arm of Novomatic include Greentube and Novoline, which you can find more information on the Novoline online casinos reviews page.
Leadership Adjustments at NOVOMATIC Africa: Aligning with its rising financial graph, NOVOMATIC Africa has recently seen a shift in its leadership dynamics. The board has welcomed Sonya Nikolova, ensuring the continuation of a robust strategy alongside existing board members Alexander Merwald and Muriel Loftie-Eaton.
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