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France – SFC sees revenues return to normal with 2022 up 3.8 per cent from before the pandemic

By - 8 March 2023

The Société française de Casinos (SFC) generated turnover of €21.15m at its four casinos in 2022 ‘with a gradual return to normal in attendance in the second half following the end of the restrictions linked to the health crisis, which impacted the first semester.’

These four venues are operated under the Stelsia brand. The SFyear saw an increase of €11.64m compared to 2020-2021, which were hampered by six and a half months of closure, and a €4.77m or 3.8 per cent improvement compared to 2019-2020. Attendence fell by five per cent due to the measures restrictions on access to public places in the context of the fight against the pandemic still present in the first half of the year.’

This performance, accompanied by ‘rigorous management of expenses’ enabled a strong increase in EBITDA, to €2.7m, ‘a record level on this scope.’ With this result, the equity of the SFC group reached €10.1m as of October 31, 2022, up €1.8m.

“The Group recorded a good cash conversion of its EBITDA. The flows generated by the activity amount to €2.8m, largely financing the net investments which amount to €1m over the year, i.e. a generation of free cash-flow of €1.8m,”, explained the SFC, which goes on to state that this free cash flow has made it possible to strengthen available cash to €5.4m as of October 31, 2022 and to reduce gross financial debt to €7.3m On the strength of this result, the SFC group is sitting on a ‘solid financial situation which will allow it to continue its development and its investments in the years to come.’ It also intends to remain vigilant in the face of inflationary impacts, particularly on energy, while strengthening the attractiveness of casinos in order to ‘increase attendance and continue the profitable growth of the activity.’

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