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Czech Republic – Sazka records 28 per cent profit fall across 2020

By - 4 May 2021

Sazka Group’s financial results for 2020 show that consolidated profit after tax from continuing operations decreased by 28 per cent year-on-year to €224m.

Consolidated GGR increased by six per cent year-on-year to €2,018m. Excluding the contributions of CASAG and Stoiximan, GGR decreased by 26 per cent year-on-year due to the impact of COVID-19 in the second and fourth quarter.

Consolidated operating EBITDA decreased by 22 per cent year-on-year to €459m. Excluding CASAG and Stoiximan, operating EBITDA decreased by 38 per cent year-on-year.

Consolidated adjusted EBITDA, which excludes certain one-off items, decreased by 11 per cent year-on-year to €538m, whilst consolidated profit after tax from continuing operations decreased by 28 per cent year-on-year to €224m.

In Q4 alone, GGR increased by 12 per cent year-on-year to €597m, consolidated operating EBITDA fell 41 per cent year-on-year to €96m and consolidated profit after tax increased by 42 per cent year-on-year to €134m.

In its latest trading update, Sazka noted: “Certain COVID-19 restrictions were reintroduced in our markets in November which impacted our physical retail network in Greece and our casinos in Austria and internationally.

“The measures have once again not had a material impact on our sales through the physical retail channel in the Czech Republic and Austria, and these businesses have been trading well.

“Online sales, which increased significantly during the first period most impacted by COVID, have continued to grow. The second wave of COVID restrictions has continued into 2021, having some impact on our businesses.

“The vast majority of the physical retail POS of our businesses in the Czech Republic, Austria and Italy remain open and continue to sell our products.
The majority of the POS in these locations are located in shops and other outlets which provide essential products and services which therefore remain open. These include convenience stores, supermarkets and petrol stations.

“Our physical retail business in Greece and Cyprus as well as our casinos have been more affected by the current lockdown. However, more recently, our agents’ stores in Greece (not VLT or gaming halls) and two casinos in Austria have reopened.”

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