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Olympic Entertainment Group AS
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097900BHBZ0000064366
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2722
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Submission date and time
10.05.2010 16:21:58
Content of announcement in Estonian
Title
OEG konsolideeritud auditeerimata majandustulemused, I kvartal 2010
Message
OEG Kontserni peamised eesmärgid 2010. aastal on äritegevuse efektiivsuse ja
finantstulemuste parandamine, turuosa jätkuv suurendamine kõikidel
tegevusturgudel, äritegevuse laiendamiseks uute võimaluste leidmine,
positsioneerimine internetipõhiste teenuste segmendis ning sünergia loomine
teiste Kontserni tegevussegmentidega.
2010. aasta 1. kvartal lõppes Kontserni jaoks edukalt:
Kontsern jõudis ärikasumisse - 1. kvartalis teeniti 1,6 miljonit krooni (0,1
miljonit eurot) ärikasumit (ebit). Ärikasum enne amortisatsioonikulusid (ebitda)
oli 68,7 miljonit krooni (4,4 miljonit eurot). Positiivset ebitda-t teenisid
Kontserni kõik ärisegmendid.
Kontserni äritegevuse efektiivsus paranes oluliselt. Kontserni jätkuvates
tegevusvaldkondades teeniti äritulusid 411,9 miljonit krooni (26,3 miljonit
eurot) ehk -4,3% võrreldes 2009. aasta 1.kvartali ärituludega. Opereeritavate
kasiinode arv vähenes samade perioodide võrdluses 30 kasiino ehk 31% võrra.
Kontsern kasvatas planeeritult oma turuosa. 2010. aasta 1. kvartalis kasvas
turuosa Eestis 52%-ni, Lätis 19%-ni ja Leedus 64%-ni. 2009. aasta 1. kvartali
lõpu seisuga oli turuosa Eestis 44%, Lätis 15% ja Leedus 58%.
Jaanuaris 2010 väljastati Eesti esimene kaughasartmängu korraldusluba Kontserni
tütarettevõttele Olympic Casino Eesti AS. Veebikasiino lansseeriti veebruaris.
Esimese pooleteise kuu jooksul teenis Kontsern kaughasartmängude korraldamisest
ärituludena 3,6 miljonit krooni (0,2 miljonit eurot).
2010. aasta I kvartali tulemuste lühikokkuvõte:
Jätkuvad tegevusvaldkonnad
--------------------------------------------------------------------------------
| Äritulud: | 411,9 | miljonit | (I kv 2009: 430,5) |
| | | krooni | |
--------------------------------------------------------------------------------
| EBITDA: | 68,7 | miljonit | (I kv 2009: -5,0) |
| | | krooni | |
--------------------------------------------------------------------------------
| EBIT: | 1,6 | miljonit | (I kv 2009: -87,9) |
| | | krooni | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Finantstulud ja -kulud | -2,9 | miljonit | (I kv 2009: 1,1) |
| neto: | | krooni | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Puhaskahjum enne | -1,3 | miljonit | (I kv 2009: -86,8) |
| tulumaksu*: | | krooni | |
--------------------------------------------------------------------------------
1 EUR = 15,6466 EEK
* Puhaskahjum enne vähemusosalust
Kontserni konsolideeritud äritulud koosnesid 2010. aasta 1. kvartalis 93%
hasartmängutulust ja 7% muudest tuludest. 2009. aasta 1. kvartalis moodustas
hasartmängutulu 94% ja muud tulud 6% kogutuludest.
--------------------------------------------------------------------------------
| Kontsernivälised äritulud segmenditi | | | |
| Jätkuvad tegevusvaldkonnad | | | |
--------------------------------------------------------------------------------
| | 1. kv 2010 | Kasv | Osakaal | 1. kv 2009 | Osakaal |
--------------------------------------------------------------------------------
| Eesti | 97 352 | 6,7% | 23,6% | 91 220 | 21,2% |
--------------------------------------------------------------------------------
| Läti | 89 315 | -8,9% | 21,7% | 98 038 | 22,8% |
--------------------------------------------------------------------------------
| Leedu | 62 637 | -23,1% | 15,2% | 81 476 | 18,9% |
--------------------------------------------------------------------------------
| Valgevene | 10 264 | -4,7% | 2,5% | 10 768 | 2,5% |
--------------------------------------------------------------------------------
| Poola | 101 029 | -10,0% | 24,5% | 112 295 | 26,1% |
--------------------------------------------------------------------------------
| Rumeenia | 18 560 | 75,2% | 4,5% | 10 593 | 2,5% |
--------------------------------------------------------------------------------
| Slovakkia | 32 728 | 25,5% | 8,0% | 26 069 | 6,0% |
--------------------------------------------------------------------------------
| Kokku | 411 885 | -4,3% | 100,0% | 430 459 | 100,0% |
--------------------------------------------------------------------------------
1 EUR = 15,6466 EEK
Kontserni 2010. aasta 1. kvartali konsolideeritud müügitulud moodustasid 409,0
miljonit krooni (26,1 miljonit eurot) ning äritulud moodustasid kokku 411,9
miljonit krooni (26,3 miljonit eurot), mis on 4,3% vähem kui 2009. aasta 1.
kvartalis teenitud 430,5 miljoni kroonine (27,5 miljonit eurot) kogutulu.
2010. aasta 1. kvartali lõpus oli Kontsernis kokku 67 kasiinot, üldpinnaga 26
221 m². 2009. aasta 1.kvartali lõpus oli Kontserni kasiinode arv 97 ja
kasiinode üldpind kokku 30 779 m². Käesoleva aasta 1. kvartali jooksul taasavati
Poolas üks, 2009. aasta 3. kvartalis suletud kasiinodest.
--------------------------------------------------------------------------------
| Kasiinode arv segmenditi | | |
| Jätkuvad tegevusvaldkonnad | | |
--------------------------------------------------------------------------------
| | 31.03.2010 | 31.03.2009 |
--------------------------------------------------------------------------------
| Eesti | 18 | 29 |
--------------------------------------------------------------------------------
| Läti | 21 | 28 |
--------------------------------------------------------------------------------
| Leedu | 10 | 16 |
--------------------------------------------------------------------------------
| Valgevene | 5 | 5 |
--------------------------------------------------------------------------------
| Poola | 9 | 9 |
--------------------------------------------------------------------------------
| Rumeenia | 2 | 8 |
--------------------------------------------------------------------------------
| Slovakkia | 2 | 2 |
--------------------------------------------------------------------------------
| Kokku | 67 | 97 |
--------------------------------------------------------------------------------
Kontserni ärikasumiks kujunes 1,6 miljonit krooni (0,1 miljonit eurot), 2009.
aasta samal perioodil oli ärikahjum jätkuvates tegevusvaldkondades -88,0
miljonit krooni (-5,6 miljonit eurot). Konsolideeritud puhaskahjumiks kujunes
-1,3 miljonit krooni (-0,1 miljonit eurot). 2009. aasta samal perioodil oli
puhaskahjum jätkuvates tegevusvaldkondades -87,2 miljonit krooni (-5,6 miljonit
eurot).
Kontserni 2010. aasta 1. kvartali konsolideeritud ärikulud kahanesid jätkuvates
tegevusvaldkondades võrreldes 2009. aasta 1. kvartaliga kokku 20,9% ehk 108,1
miljoni krooni (6,9 miljonit eurot) võrra. Kõige enam kahanesid võrreldes
eelmise aasta sama perioodiga tööjõukulud - 24,9% ehk 37,9 miljonit krooni (2,4
miljonit eurot), amortisatsioonikulud -19,1% ehk 15,8 miljonit krooni (1,0
miljonit eurot), rendikulud -26,9% ehk 15,5 miljonit krooni (1,0 miljonit eurot)
ning hasartmängumaksu kulud -12,7% ehk 13,8 miljonit krooni (0,9 miljonit
eurot).
Suurima osa Kontserni ärikuludest moodustavad tööjõukulud koos sotsiaalmaksudega
114,3 miljonit krooni (7,3 miljonit eurot), järgnevad hasartmängumaksude kulud
95,0 miljonit krooni (6,1 miljonit eurot), amortisatsioonikulu 67,1 miljonit
krooni (4,3 miljonit eurot), rendikulu 42,1 miljonit krooni (2,7 miljonit eurot)
ja turunduskulud koos jackpottidega 35,5 miljonit krooni (2,3 miljonit eurot).
Eesti segment
2010. aasta 1. kvartalis moodustasid Eesti segmendi kontsernivälised äritulud
kokku 97,4 miljonit krooni (6,2 miljonit eurot), millest hasartmängutulud
maapealsetest kasiinodest moodustasid 85,4 miljonit krooni (5,5 miljonit eurot),
hasartmängutulud internetikasiinost 3,6 miljonit krooni (0,2 miljonit eurot) ja
muud tulud 8,3 miljonit krooni (0,5 miljonit eurot).
Eesti segmendi kontsernivälised äritulud kasvasid võrreldes möödunud aasta sama
ajaga 6,7%. Hasartmänguturu langus Eestis 1. kvartalis 2010 võrreldes sama
perioodiga 2009. aastal oli 8%. Olympic Casino Eesti AS turuosa Eesti
hasartmänguturul kasvas 52%-ni, 1. kvartali 2009 lõpus oli Olympic Casino Eesti
AS turuosa 44%.
Eesti segmendi ebidta-ks 1. kvartalis 2010 kujunes 14,0 miljonit krooni (0,9
miljonit eurot) ja ärikahjumiks kujunes -4,1 miljonit krooni (-0,3 miljonit
eurot). 2009. aasta 1. kvartalis teenis Eesti segment ebitda-t -20,2 miljonit
krooni (-1,3 miljonit eurot) ja ärikahjumit -42,3 miljonit krooni (-2,7 miljonit
eurot).
Kvartali lõpus tegutses Eestis kokku 18 Olympic kasiinot, milles oli kokku 721
mänguautomaati ja 24 mängulauda.
Läti segment
2010. aasta 1. kvartalis moodustasid Läti segmendi kontsernivälised äritulud
kokku 89,3 miljonit krooni (5,7 miljonit eurot), millest hasartmängutulud
moodustasid 82,2 miljonit krooni (5,3 miljonit eurot) ning muud tulud 7,1
miljonit krooni (0,5 miljonit eurot). Läti segmendi kontsernivälised äritulud
kahanesid võrreldes eelmise aasta sama ajaga 8,9%. Hasartmänguturu langus Lätis
1. kvartalis 2010 võrreldes sama perioodiga 2009. aastal oli 27%. Olympic Casino
Latvia SIA turuosa Läti hasartmänguturul tõusis 1. kvartalis 2010 19%-ni, 1.
kvartali 2009 lõpus oli Olympic Casino Latvia SIA turuosa 15%.
Läti segmendi ebitda-ks 1. kvartalis 2010 kujunes 30,0 miljonit krooni (1,9
miljonit eurot) ja ärikasumiks kujunes 13,7 miljonit krooni (0,9 miljonit
eurot). 2009. aasta 1. kvartalis teenis Läti segment ebitda-t 8,8 miljonit
krooni (0,6 miljonit eurot) ja ärikahjumit -17,0 miljonit krooni (-1,1 miljonit
eurot).
Kvartali lõpus tegutses Lätis kokku 21 Olympic kasiinot, milles oli kokku 642
mänguautomaati ja 23 mängulauda.
Leedu segment
2010. aasta 1. kvartalis moodustasid Leedu segmendi kontsernivälised äritulud
kokku 62,6 miljonit krooni (4,0 miljonit eurot), millest hasartmängutulud
moodustasid 58,8 miljonit krooni (3,8 miljonit eurot) ning muud tulud 3,8
miljonit krooni (0,2 miljonit eurot). Leedu segmendi kontsernivälised äritulud
kahanesid võrreldes eelmise aasta sama ajaga 23,1%. Hasartmänguturu langus
Leedus 1. kvartalis 2010 võrreldes sama perioodiga 2009. aastal oli 29%. Olympic
Casino Group Baltija UAB turuosa Leedu hasartmänguturul tõusis 1. kvartalis 2010
64%-ni, 1. kvartali 2009 lõpus oli Olympic Casino Group Baltija UAB turuosa 58%.
Leedu segmendi ebitda-ks 1. kvartalis 2010 kujunes 6,2 miljonit krooni (0,4
miljonit eurot) ja ärikahjumiks kujunes -2,7 miljonit krooni (-0,2 miljonit
eurot). 2009. aasta 1. kvartalis teenis Leedu segment ebitda-t 6,7 miljonit
krooni (0,4 miljonit eurot) ja ärikahjumit -3,7 miljonit krooni (-0,2 miljonit
eurot).
Kvartali lõpus tegutses Leedus kokku 10 Olympic kasiinot, milles oli kokku 355
mänguautomaati ja 51 mängulauda.
Valgevene segment
2010. aasta 1. kvartalis moodustasid Valgevene segmendi kontsernivälised
äritulud kokku 10,3 miljonit krooni (0,7 miljonit eurot), millest
hasartmängutulud moodustasid 9,3 miljonit krooni (0,6 miljonit eurot) ning muud
tulud 1,0 miljonit krooni (0,1 miljonit eurot). Valgevene segmendi
kontsernivälised äritulud kahanesid võrreldes eelmise aasta sama perioodiga
4,7%. Valgevene segmendi äritulude langus on mõjutatud Valgevene rubla kursi
langusest euro suhtes, kohalikus valuutas moodustas tulude tõus 1. kvartalis
võrreldes möödunud aasta 1. kvartaliga 3,2%.
Valgevene segmendi ebitda-ks 1. kvartalis 2010 kujunes 1,7 miljonit krooni (0,1
miljonit eurot) ja ärikahjumiks kujunes -1,6 miljonit krooni (-0,1 miljonit
eurot). 2009. aasta 1. kvartalis teenis Valgevene segment ebitda-t 0,9 miljonit
krooni (0,1 miljonit eurot) ja ärikahjumit -3,0 miljonit krooni (-0,2 miljonit
eurot).
Kvartali lõpus tegutses Valgevenes kokku 5 Olympic kasiinot, milles oli kokku
250 mänguautomaati.
Poola segment
2010. aasta 1. kvartalis moodustasid Poola segmendi kontsernivälised äritulud
kokku 101,0 miljonit krooni (6,5 miljonit eurot), millest hasartmängutulud
moodustasid 98,8 miljonit krooni (6,3 miljonit eurot) ning muud tulud 2,2
miljonit krooni (0,1 miljonit eurot). Poola segmendi kontsernivälised äritulud
kahanesid võrreldes eelmise aasta sama perioodiga 10,0%.
Poola segmendi ebitda-ks 1. kvartalis 2010 kujunes 9,4 miljonit krooni (0,6
miljonit eurot) ja ärikahjumiks kujunes -4,3 miljonit krooni (-0,3 miljonit
eurot). 2009. aasta 1. kvartalis teenis Poola segment ebitda-t 3,5 miljonit
krooni (0,2 miljonit eurot) ja ärikahjumit -8,1 miljonit krooni (-0,5 miljonit
eurot).
Käesoleva aasta 1. kvartali jooksul taasavati Poolas üks, 2009. aasta 3.
kvartalis suletud kasiinodest. Kvartali lõpus tegutses Poolas kokku 9 Olympic
kasiinot, milles oli kokku 353 mänguautomaati ja 67 mängulauda.
Rumeenia segment
2010. aasta 1. kvartalis moodustasid Rumeenia segmendi kontsernivälised äritulud
kokku 18,6 miljonit krooni (1,2 miljonit eurot), millest hasartmängutulud
moodustasid 15,1 miljonit krooni (1,0 miljonit eurot) ning muud tulud 3,5
miljonit krooni (0,2 miljonit eurot). Rumeenia segmendi kontsernivälised
äritulud kasvasid võrreldes eelmise aasta sama perioodiga 75,2%.
Rumeenia segmendi ebitda-ks 1. kvartalis 2010 kujunes 0,4 miljonit krooni (0,03
miljonit eurot) ja ärikahjumiks kujunes -3,3 miljonit krooni (-0,2 miljonit
eurot). 2009. aasta 1. kvartalis teenis Rumeenia segment ebitda-t -7,7 miljonit
krooni (-0,5 miljonit eurot) ja ärikahjumit -13,9 miljonit krooni (-0,9 miljonit
eurot).
Kvartali lõpus tegutses Rumeenias kokku 2 Olympic kasiinot, milles oli kokku 88
mänguautomaati ja 13 mängulauda.
Slovakkia segment
2010. aasta 1. kvartalis moodustasid Slovakkia segmendi kontsernivälised
äritulud kokku 32,7 miljonit krooni (2,1 miljonit eurot), millest
hasartmängutulud moodustasid 29,7 miljonit krooni (1,9 miljonit eurot) ning muud
tulud 3,0 miljonit krooni (0,2 miljonit eurot). Slovakkia segmendi
kontsernivälised äritulud kasvasid võrreldes eelmise aasta 1. kvartaliga 25,5%.
Slovakkia segmendi ebitda-ks 1. kvartalis 2010 kujunes 7,0 miljonit krooni (0,4
miljonit eurot) ja ärikasumiks kujunes 3,9 miljonit krooni (0,2 miljonit eurot).
2009. aasta 1. kvartalis teenis Slovakkia segment ebitda-t 2,9 miljonit krooni
(0,2 miljonit eurot) ja ärikasumit 0,3 miljonit krooni (0,02 miljonit eurot).
Kvartali lõpus tegutses Slovakkias kokku 2 Olympic kasiinot, milles oli kokku
102 mänguautomaati ja 22 mängulauda.
Bilanss
31.03.2010 seisuga oli Kontserni konsolideeritud bilansimaht 1 778,9 miljonit
krooni (113,7 miljonit eurot). 31.12.2009 seisuga oli Kontserni konsolideeritud
bilansimaht 1 776,0 miljonit krooni (113,5 miljonit eurot).
Käibevarad moodustasid varadest 552,2 miljonit krooni (35,3 miljonit eurot) ehk
31,0% kogu varadest ja põhivarad 1 226,7 miljonit krooni (78,4 miljonit eurot)
ehk 69,0% bilansimahust. Immateriaalsed varad moodustasid põhivaradest 460,1
miljonit krooni (29,4 miljonit eurot) ehk 37,5%. Kontserni kohustused
moodustasid bilansipäeval kokku 463,7 miljonit krooni (29,6 miljonit eurot) ning
konsolideeritud omakapital 1 315,1 miljonit krooni (84,1 miljonit eurot).
Kontserni kohustustest suurema osa moodustavad laenukohustused 276,3 miljonit
krooni (17,7 miljonit eurot), maksukohustused 48,1 miljonit krooni (3,1 miljonit
eurot) ja kohustused töötavõtjatele 47,9 miljonit krooni (3,1 miljonit eurot).
Investeeringud
Kontsern soetas põhivarasid 2010. aasta 1. kvartalis kokku 25,8 miljoni krooni
(1,6 miljonit eurot) eest. Olulisem osa, 19,6 miljonit krooni (1,3 miljonit
eurot) investeeriti uutesse mänguseadmetesse.
Rahavood
Kontserni äritegevuse rahavood 2010. aasta 1. kvartalis olid 84,6 miljonit
krooni (5,4 miljonit eurot). Investeerimistegevuse rahavood moodustasid 5,6
miljonilt krooni (0,4 miljonit eurot) ja finantseerimistegevuse rahavood -18,4
miljonit krooni (-1,2 miljonit eurot). Netorahavood kokku moodustasid 71,8
miljonit krooni (4,6 miljonit eurot).
Personal
31.03.2010 seisuga andis Kontsern tööd 2 336 inimesele (31.03.09 Ukrainata: 2
827). Eesti ettevõtetes töötas märtsi lõpus 488, Lätis 486, Leedus 525,
Valgevenes 91, Poolas 452, Rumeenias 168 ja Slovakkias 126 inimest.
2010. aasta 1 kvartalis arvestati Kontsernis töötajatele töötasusid koos
sotsiaalmaksudega kokku 114,3 miljonit krooni (7,3 miljonit eurot), möödunud
aastal samal ajal 152,3 miljonit krooni (9,7 miljonit eurot).
Kontserni põhilised arvnäitajad
Jätkuvad tegevusvaldkonnad
--------------------------------------------------------------------------------
| | 1. kv 2010 | 1. kv 2009 | Muutus |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Äritulud (miljon krooni) | 411,9 | 430,5 | -4,3% |
--------------------------------------------------------------------------------
| EBITDA (miljon krooni) | 68,7 | -5,0 | |
--------------------------------------------------------------------------------
| Ärikasum/-kahjum (miljon krooni) | 1,6 | -87,9 | |
--------------------------------------------------------------------------------
| Puhaskahjum (miljon krooni) | -1,3 | -86,8 | -98,5% |
--------------------------------------------------------------------------------
| EBITDA marginaal | 16,7% | -1,2% | |
--------------------------------------------------------------------------------
| Ärirentaablus | 0,4% | -20,4% | |
--------------------------------------------------------------------------------
| Puhasrentaablus | -0,3% | -20,2% | |
--------------------------------------------------------------------------------
| Omakapitali suhtarv | 73,9% | 76,4% | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Kasiinode arv perioodi lõpus | 67 | 97 | -30 |
--------------------------------------------------------------------------------
| Kasiinode pind m2 perioodi lõpus | 26 221 | 30 779 | -4 558 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Mänguautomaatide arv perioodi | 2 511 | 3 265 | -754 |
| lõpus | | | |
--------------------------------------------------------------------------------
| Mängulaudade arv perioodi lõpus | 200 | 209 | -9 |
--------------------------------------------------------------------------------
Suhtarvude valemid
o EBITDA = kasum enne finants-, maksu- ning põhivara kulumi- ja väärtuse languse
kulusid
o Ärikasum = kasum enne finants- ja maksukulusid
o Puhaskasum = aruandeperioodi puhaskasum enne vähemusosalust
o EBITDA marginaal = EBITDA / Aritulud
o Ärirentaablus = Ärikasum / Äritulud
o Puhasrentaablus = Puhaskasum / Aritulud
o Omakapitali suhtarv = Omakapital / Varad kokku
1 EUR = 15,6466 EEK
Konsolideeritud finantsseisundi aruanne
--------------------------------------------------------------------------------
| VARAD | (tuhandetes EEK) | (tuhandetes EUR) |
--------------------------------------------------------------------------------
| | 31.03.2010 | 31.12.200 | 31.03.2010 | 31.12.2009 |
| | | 9 | | |
--------------------------------------------------------------------------------
| Käibevara | | | | |
--------------------------------------------------------------------------------
| Raha ja raha | 358 426 | 286 067 | 22 908 | 18 283 |
| ekvivalendid | | | | |
--------------------------------------------------------------------------------
| Finantsinvesteeringud | 55 310 | 48 184 | 3 535 | 3 080 |
--------------------------------------------------------------------------------
| Nõuded ostjate vastu | 9 210 | 5 473 | 588 | 350 |
--------------------------------------------------------------------------------
| Muud nõuded ja | 73 591 | 73 977 | 4 703 | 4 728 |
| ettemaksed | | | | |
--------------------------------------------------------------------------------
| Ettemakstud tulumaks | 24 634 | 23 437 | 1 574 | 1 498 |
--------------------------------------------------------------------------------
| Varud | 14 797 | 14 068 | 946 | 899 |
--------------------------------------------------------------------------------
| Müügiootel põhivarad | 16 239 | 17 833 | 1 038 | 1 140 |
--------------------------------------------------------------------------------
| Käibevara kokku | 552 207 | 469 039 | 35 292 | 29 978 |
--------------------------------------------------------------------------------
| Põhivara | | | | |
--------------------------------------------------------------------------------
| Edasilükkunud | 25 614 | 21 395 | 1 637 | 1 367 |
| tulumaksuvara | | | | |
--------------------------------------------------------------------------------
| Muud | 14 369 | 61 405 | 919 | 3 924 |
| finantsinvesteeringud | | | | |
--------------------------------------------------------------------------------
| Muud pikaajalised nõuded | 16 194 | 15 983 | 1 035 | 1 021 |
--------------------------------------------------------------------------------
| Kinnisvarainvesteeringud | 22 688 | 23 658 | 1 450 | 1 512 |
--------------------------------------------------------------------------------
| Materiaalne põhivara | 687 720 | 733 757 | 43 953 | 46 896 |
--------------------------------------------------------------------------------
| Immateriaalne põhivara | 460 075 | 450 778 | 29 404 | 28 810 |
--------------------------------------------------------------------------------
| Põhivara kokku | 1 226 660 | 1 306 976 | 78 398 | 83 530 |
--------------------------------------------------------------------------------
| VARAD KOKKU | 1 778 867 | 1 776 015 | 113 690 | 113 508 |
--------------------------------------------------------------------------------
| | | | | | |
--------------------------------------------------------------------------------
| KOHUSTUSED JA OMAKAPITAL | (tuhandetes EEK) | (tuhandetes EUR) |
--------------------------------------------------------------------------------
| | 31.03.2010 | 31.12.200 | 31.03.2010 | 31.12.2009 |
| | | 9 | | |
--------------------------------------------------------------------------------
| KOHUSTUSED | | | | |
--------------------------------------------------------------------------------
| Lühiajalised kohustused | | | | |
--------------------------------------------------------------------------------
| Võlakohustused | 73 675 | 88 145 | 4 709 | 5 633 |
--------------------------------------------------------------------------------
| Ostjate ettemaksed | 18 882 | 16 252 | 1 207 | 1 039 |
--------------------------------------------------------------------------------
| Võlad tarnijatele | 32 450 | 27 513 | 2 074 | 1 758 |
--------------------------------------------------------------------------------
| Muud võlad | 2 850 | 2 896 | 182 | 185 |
--------------------------------------------------------------------------------
| Tulumaksukohustus | 1 188 | 298 | 76 | 19 |
--------------------------------------------------------------------------------
| Muud maksukohustused | 46 872 | 48 695 | 2 995 | 3 112 |
--------------------------------------------------------------------------------
| Viitvõlad | 60 846 | 54 774 | 3 889 | 3 501 |
--------------------------------------------------------------------------------
| Lühiajalised eraldised | 17 902 | 17 947 | 1 144 | 1 147 |
--------------------------------------------------------------------------------
| Lühiajalised kohustused | 254 665 | 256 520 | 16 276 | 16 394 |
| kokku | | | | |
--------------------------------------------------------------------------------
| Pikaajalised kohustused | | | | |
--------------------------------------------------------------------------------
| Edasilükkunud | 6 186 | 4 723 | 395 | 302 |
| tulumaksukohustus | | | | |
--------------------------------------------------------------------------------
| Pikaajalised | 202 867 | 221 032 | 12 966 | 14 127 |
| võlakohustused | | | | |
--------------------------------------------------------------------------------
| Pikaajalised kohustused | 209 053 | 225 755 | 13 361 | 14 429 |
| kokku | | | | |
--------------------------------------------------------------------------------
| Kohustused kokku | 463 718 | 482 275 | 29 637 | 30 823 |
--------------------------------------------------------------------------------
| OMAKAPITAL | | | | |
--------------------------------------------------------------------------------
| Aktsiakapital | 1 510 000 | 1 510 000 | 96 507 | 96 507 |
--------------------------------------------------------------------------------
| Ülekurss | 227 273 | 227 273 | 14 525 | 14 525 |
--------------------------------------------------------------------------------
| Kohustuslik | 37 759 | 37 759 | 2 413 | 2 413 |
| reservkapital | | | | |
--------------------------------------------------------------------------------
| Realiseerimata | 23 361 | 390 | 1 493 | 25 |
| kursivahed | | | | |
--------------------------------------------------------------------------------
| Kogunenud kahjum | -550 827 | -545 450 | -35 204 | -34 861 |
--------------------------------------------------------------------------------
| Emaettevõtte omanikele | 1 247 566 | 1 229 972 | 79 734 | 78 609 |
| kuuluv omakapital kokku | | | | |
--------------------------------------------------------------------------------
| Vähemusosalus | 67 583 | 63 768 | 4 319 | 4 076 |
--------------------------------------------------------------------------------
| Omakapital kokku | 1 315 149 | 1 293 740 | 84 053 | 82 685 |
--------------------------------------------------------------------------------
| KOHUSTUSED JA OMAKAPITAL | 1 778 867 | 1 776 015 | 113 690 | 113 508 |
| KOKKU | | | | |
--------------------------------------------------------------------------------
Konsolideeritud koondkasumiaruanne
--------------------------------------------------------------------------------
| | | (tuhandetes EEK) | (tuhandetes EUR) |
--------------------------------------------------------------------------------
| | | 1. kv | 1. kv 2009 | 1. kv | 1. kv 2009 |
| | | 2010 | | 2010 | |
--------------------------------------------------------------------------------
| Jätkuvad tegevusvaldkonnad | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Hasartmängutulud | 382 858 | 402 864 | 24 469 | 25 748 |
--------------------------------------------------------------------------------
| Müügitulud | 26 165 | 25 792 | 1 672 | 1 648 |
--------------------------------------------------------------------------------
| Muud äritulud | 2 862 | 1 803 | 183 | 115 |
--------------------------------------------------------------------------------
| Äritulud kokku | 411 885 | 430 459 | 26 324 | 27 511 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Kaubad, toore, materjal ja | -9 428 | -11 838 | -602 | -756 |
| teenused | | | | |
--------------------------------------------------------------------------------
| Mitmesugused tegevuskulud | -218 742 | -260 325 | -13 980 | -16 638 |
--------------------------------------------------------------------------------
| Tööjõu kulud | -114 310 | -152 257 | -7 306 | -9 731 |
--------------------------------------------------------------------------------
| Põhivara kulum ja väärtuse | -67 124 | -82 931 | -4 290 | -5 300 |
| langus | | | | |
--------------------------------------------------------------------------------
| Muud ärikulud | -687 | -11 057 | -44 | -707 |
--------------------------------------------------------------------------------
| Ärikulud kokku | -410 291 | -518 408 | -26 222 | -33 132 |
--------------------------------------------------------------------------------
| Ärikasum (-kahjum) | 1 594 | -87 949 | 102 | -5 621 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Intressitulud | 1 019 | 2 870 | 65 | 183 |
--------------------------------------------------------------------------------
| Intressikulud | -3 662 | -5 412 | -234 | -346 |
--------------------------------------------------------------------------------
| Kasum (kahjum) | -263 | 3 698 | -17 | 236 |
| valuutakursi muutustest | | | | |
--------------------------------------------------------------------------------
| Muud finantstulud ja | -31 | -49 | -2 | -3 |
| -kulud | | | | |
--------------------------------------------------------------------------------
| Finantstulud ja -kulud | -2 937 | 1 107 | -188 | 70 |
| kokku | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Kahjum enne tulumaksu | -1 343 | -86 842 | -86 | -5 551 |
--------------------------------------------------------------------------------
| Tulumaksukulu | -219 | -370 | -14 | -24 |
--------------------------------------------------------------------------------
| JÄTKUVATE | -1 562 | -87 212 | -100 | -5 575 |
| TEGEVUSVALDKONDADE | | | | |
| PERIOODI PUHASKAHJUM | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| LÕPETATUD | 0 | -10 238 | 0 | -654 |
| TEGEVUSVALDKONDADE | | | | |
| PERIOODI PUHASKAHJUM | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| PERIOODI PUHASKASUM | -1 562 | -97 450 | -100 | -6 229 |
| (-KAHJUM) | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Muu koondkasum (-kahjum) | | | | |
--------------------------------------------------------------------------------
| Realiseerimata kursivahed | | | | |
--------------------------------------------------------------------------------
| jätkuvad tegevusvaldkonnad | 22 971 | -50 070 | 1 468 | -3 200 |
--------------------------------------------------------------------------------
| lõpetatud | 0 | 11 338 | 0 | 725 |
| tegevusvaldkonnad | | | | |
--------------------------------------------------------------------------------
| Kokku muu koondkasum | 22 971 | -38 732 | 1 468 | -2 475 |
| (-kahjum) | | | | |
--------------------------------------------------------------------------------
| Kokku perioodi koondkasum | 21 409 | -136 182 | 1 368 | -8 704 |
| (-kahjum) | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Perioodi puhaskasum | | | | |
| (-kahjum) | | | | |
--------------------------------------------------------------------------------
| Vähemusosalus | 3 815 | -1 009 | 243 | -65 |
--------------------------------------------------------------------------------
| Emaettevõtte omanike osa | | | | |
--------------------------------------------------------------------------------
| jätkuvad tegevusvaldkonnad | -5 377 | -86 203 | -343 | -5 510 |
--------------------------------------------------------------------------------
| lõpetatud | 0 | -10 238 | 0 | -654 |
| tegevusvaldkonnad | | | | |
--------------------------------------------------------------------------------
| | | -1 562 | -97 450 | -100 | -6 229 |
--------------------------------------------------------------------------------
| Kokku perioodi koondkasum (-kahjum) | | | |
--------------------------------------------------------------------------------
| Vähemusosalus | 3 815 | -1 009 | 243 | -65 |
--------------------------------------------------------------------------------
| Emaettevõtte omanike osa | | | | |
--------------------------------------------------------------------------------
| jätkuvad tegevusvaldkonnad | 17 594 | -136 035 | 1 125 | -8 694 |
--------------------------------------------------------------------------------
| Lõpetatud | 0 | 862 | 0 | 55 |
| tegevusvaldkonnad | | | | |
--------------------------------------------------------------------------------
| | | 21 409 | -136 182 | 1 368 | -8 704 |
--------------------------------------------------------------------------------
| Jätkuvad | | | | |
| tegevusvaldkonnad | | | | |
--------------------------------------------------------------------------------
| Tava kasum (kahjum) | -0,04 | -0,57 | -0,002 | -0,04 |
| aktsia kohta | | | | |
--------------------------------------------------------------------------------
| Lahustatud kasum | -0,04 | -0,57 | -0,002 | -0,04 |
| (-kahjum) aktsia kohta | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Lõpetatud | | | | |
| tegevusvaldkonnad | | | | |
--------------------------------------------------------------------------------
| Tava kasum (kahjum) | 0,00 | -0,07 | 0,00 | 0,00 |
| aktsia kohta | | | | |
--------------------------------------------------------------------------------
| Lahustatud kasum | 0,00 | -0,07 | 0,00 | 0,00 |
| (-kahjum) aktsia kohta | | | | |
--------------------------------------------------------------------------------
Lisainfo:
Kristi Ojakäär
CFO
Olympic Entertainment Group AS
Tel + 372 667 1250
E-post [email protected]
http://www.olympic-casino.com
Content of announcement in English
Title
OEG consolidated unaudited results for Q1, 2010
Message
OEG Group 2010 main objectives are improvement of operational activity
efficiency and financial results, market share increase on all of the
operational markets, finding of new opportunities for broadening of operational
activity, positioning on the online-based services segment and creation of
synergy with other Group segments of activity.
2010 1st quarter was a success for a Group:
The Group has achieved operational profit - in the 1st quarter 1.6 million
kroons (0.1 million Euros) of operational profit (ebit) were earned. Operational
profit before depreciation and amortization (ebidta) was 68.7 million kroons
(4.4 million Euros). All Group business segments have finished a quarter with
positive ebitda.
Efficiency of the Group operational activity has improved significantly. 411.9
million kroons (26.3 million euros) of revenue was earned in Group continuing
operations, -4,3% compared to 2009 1st quarter revenue. At the same time
operated casinos number was decreased by 30 or 31%.
The Group has grown its market share in accordance with projections. During the
1st quarter of 2010 the market share in Estonia has grown up to 52%, in Latvia
up to 19% and in Lithuania up to 64%. At the end of March 2009 the market share
in Estonia was 44%, in Latvia 15% and in Lithuania 58%.
In January 2010 Group´s subsidiary Olympic Casino Eesti AS has received a first
Estonian online gaming operational licence. Online casino was launched in
February. During the first 1 and a half months of operation the Group has earned
3.6 million kroons (0.2 million Euros) of revenue from the online gaming
activity.
Selected financial data, Q1, 2010:
Continuing operations
--------------------------------------------------------------------------------
| Revenue: | 411.9 | million | (QI 2009: 430.5) |
| | | kroons | |
--------------------------------------------------------------------------------
| EBITDA: | 68.7 | million | (QI 2009: -5.0) |
| | | kroons | |
--------------------------------------------------------------------------------
| EBIT: | 1.6 | million | (QI 2009: -87.9) |
| | | kroons | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Financial income & | -2.9 | million | (QI 2009: 1.1) |
| expenses net: | | kroons | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net loss before income | -1.3 | million | (QI 2009: -86.8) |
| tax*: | | kroons | |
--------------------------------------------------------------------------------
1 EUR = 15.6466 EEK
* Net loss before minority interest
In the first quarter of 2010 93% of consolidated revenue was formed by gaming
operations and 7% of other income. In the first quarter of 2009 gaming revenue
accounted for 94% and other revenue for 6% of consolidated revenue.
--------------------------------------------------------------------------------
| External revenue by segments | | | |
| Continuing operation | | | |
--------------------------------------------------------------------------------
| | 3 months | Growth | Proportion | 3 months | Proportio |
| | 2010 | | | 2009 | n |
--------------------------------------------------------------------------------
| Estonia | 97,352 | 6.7% | 23.6% | 91,220 | 21.2% |
--------------------------------------------------------------------------------
| Latvia | 89,315 | -8.9% | 21.7% | 98,038 | 22.8% |
--------------------------------------------------------------------------------
| Lithuania | 62,637 | -23.1% | 15.2% | 81,476 | 18.9% |
--------------------------------------------------------------------------------
| Belarus | 10,264 | -4.7% | 2.5% | 10,768 | 2.5% |
--------------------------------------------------------------------------------
| Poland | 101,029 | -10.0% | 24.5% | 112,295 | 26.1% |
--------------------------------------------------------------------------------
| Romania | 18,560 | 75.2% | 4.5% | 10,593 | 2.5% |
--------------------------------------------------------------------------------
| Slovakia | 32,728 | 25.5% | 8.0% | 26,069 | 6.0% |
--------------------------------------------------------------------------------
| Total | 411,885 | -4.3% | 100.0% | 430,459 | 100.0% |
--------------------------------------------------------------------------------
1 EUR = 15.6466 EEK
The Group finished the quarter with sales revenue of 409.0 million kroons (26.1
million Euros) and total consolidated revenue surged to 411.9 million kroons
(26.3 million Euros), 4.3% less than the 2009 Q1 consolidated revenue of 430.5
million kroons (27.5 million Euros).
At the end of the first quarter 2010, Group had 67 casinos with a total area of
26,221 m². At the end of 2009 Q1 Group had 97 casinos with a total area of
30,779 m². During Q1 2010 one casino was reopened in Poland (one of the 3 venues
closed in 2009 Q3).
--------------------------------------------------------------------------------
| Number of casinos by segments | | |
| Continuing operations | | |
--------------------------------------------------------------------------------
| | 31 March 2010 | 31 March 2009 |
--------------------------------------------------------------------------------
| Estonia | 18 | 29 |
--------------------------------------------------------------------------------
| Latvia | 21 | 28 |
--------------------------------------------------------------------------------
| Lithuania | 10 | 16 |
--------------------------------------------------------------------------------
| Belarus | 5 | 5 |
--------------------------------------------------------------------------------
| Poland | 9 | 9 |
--------------------------------------------------------------------------------
| Romania | 2 | 8 |
--------------------------------------------------------------------------------
| Slovakia | 2 | 2 |
--------------------------------------------------------------------------------
| Total | 67 | 97 |
--------------------------------------------------------------------------------
Consolidated operating profit for the 3 months of 2010 amounted to 1.6 million
kroons (0.1 million Euros), in 2009 1st quarter operational loss in continuing
operations was -88.0 million kroons (-5.6 million Euros). Consolidated net loss
for the first 3 months of 2010 totaled -1.3 million kroons (-0.1 million Euros).
In the first quarter of 2009 net loss from continuing operation amounted to
-87.2 million kroons (-5.6 million Euros).
Consolidated expenses for the first 3 months of 2010 in continuing operations
decreased in total by 20.9% or 108.1 million kroons (6.9 million Euros) compared
to the 2009 Q1. The strongest decline came from personnel expenses (-24.9% or
37.9 million kroons (2.4 million Euros)), depreciation and amortization expenses
(-19.1% or 15.8 million kroons (1.0 million Euros)), rental expenses (-26.9% or
15.5 million kroons (1.0 million Euros)) and gaming tax expenses (-12.7% or 13.8
million kroons (0.9 million Euros)).
The largest Group expense article is personnel expenses including social charges
of 114.3 million kroons (7.3 million Euros), followed by gaming tax expenses of
95.0 million kroons (6.1 million Euros), depreciation and amortization expenses
of 67.1 million kroons (4.3 million Euros), rental expenses of 42.1 million
kroons (2.7 million Euros) and marketing expenses including jack pots of 35.5
million kroons (2.3 million Euros).
Estonian segment
In the first quarter of 2010, the segment external revenue amounted to
97.4 million kroons (6.2 million Euros), including gaming revenue from landbase
casinos of 85.4 million kroons (5.5 million Euros), online casino gaming revenue
of 3.6 million kroons (0.2 million Euros) and other revenue of 8.3 million
kroons (0,5 million Euros).
Estonian segment external revenue has grown 6.7% compared to the same period
last year. Decline of the Estonian gaming market composed 8% compared to 2009
Q1. Olympic Casino Eesti AS market share on Estonian gaming market has grown up
to 52%, at the end of March 2009 Olympic Casino Eesti AS market share was 44%.
Estonian segment 2010 Q1 ebidta was 14.0 million kroons (0.9 million Euros) and
operating loss amounted to -4.1 million kroons (-0.3 million Euros). Ebidta for
the 1st quarter of 2009 was -20.2 million kroons (-1.3 million Euros) and
operating loss totalled to -42.3 million kroons (-2.7 million Euros).
At the end of quarter, there were 18 Olympic Casinos in Estonia with a total of
721 slot machines and 24 game tables.
Latvian segment
Latvian segment 2010 Q1 external revenue composed 89.3 million kroons (5.7
million Euros), including gaming revenue of 82.2 million kroons (5.3 million
Euros) and other revenue of 7.1 million kroons (0.5 million Euros). Latvian
segment external revenue has declined 8.9% compared to the same period last
year. Latvian gaming market at the same time has shrunk 27% in comparison with
Q1 2009. Olympic Casino Latvia SIA market share has grown up to 19% during the
1st quarter of 2010; at the end of March 2009 Olympic Casino Latvia SIA market
share was 15%.
Latvian segment ebitda for the 1st 3 months of 2010 totalled 30.0 million kroons
(1.9 million Euros) and operating profit amounted to 13.7 million kroons (0.9
million Euros). In the 1st quarter of 2009 Latvian segment has earned ebitda of
8.8 million kroons (0.6 million Euros) and operating loss of -17.0 million
kroons (-1.1 million Euros).
At the end of the quarter, there were 21 Olympic Casinos in Latvia with a total
of 642 slot machines and 23 game tables.
Lithuanian segment
2010 Q1 external revenue of the Lithuanian segment amounted to 62.6 million
kroons (4.0 million Euros), including gaming revenue in amount of 58.8 million
kroons (3.8 million Euros) and other revenue of 3.8 million kroons (0.2 million
Euros). Lithuanian segment external revenues have decreased 23.1% compared to
the same period last year. Lithuanian gaming market has declined 29% compared to
the 1st quarter of 2009. During the 1st quarter of 2010 Olympic Casino Group
Baltija UAB market share on Lithuanian gaming market has grown up to 64%, at the
end of March 2009 Olympic Casino Group Baltija UAB market share was 58%.
Lithuanian segment ebitda in Q1 2010 composed 6.2 million kroons (0.4 million
Euros) and operating loss amounted to -2.7 million kroons (-0.2 million Euros).
Within the first 3 months of 2009 Lithuanian segment has earned ebitda of 6.7
million kroons (0.4 million Euros) and operating loss of -3.7 million kroons
(-0.2 million Euros).
At the end of the quarter there were 10 Olympic Casinos operating in Lithuania,
with a total of 355 slot machines and 51 game tables.
Belarus segment
Belarus external revenue for the 1st quarter of 2010 composed 10.3 million
kroons (0.7 million Euros), including gaming revenue of 9.3 million kroons (0.6
million Euros) and other revenue in amount of 1.0 million kroons (0.1 million
Euros). Belarus segment external revenue has decreased 4.7% compared to the same
period last year. Revenue decrease was influenced by Belarus rouble exchange
rate decline versus Euro, in local currency revenue growth within the quarter in
comparison with the same period last year composed 3.2%.
Belarus segment 2010 Q1 ebitda amounted to 1.7 million kroons (0.1 million
Euros) and operating loss totalled -1.6 million kroons (-0.1 million Euros). In
the 1st quarter of 2009 Belarus segment has earned ebitda of 0.9 million kroons
(0.1 million Euros) and operating loss of -3.0 million kroons (-0.2 million
Euros).
At the end of the quarter 5 Olympic Casinos were operating in Belarus, with a
total of 250 slot machines.
Polish segment
Polish external revenue for the period of Q1 2010 amounted to 101.0 million
kroons (6.5 million Euros), including gaming revenue 98.8 million kroons (6.3
million Euros) and other revenue 2.2 million kroons (0.1 million Euros). The
segment external revenue declined 10.0% compared to the same period last year.
Polish segment 2010 Q1 ebitda totalled 9.4 million kroons (0.6 million Euros)
and operational loss amounted to -4.3 million kroons (-0.3 million Euros).
Within the 2009 Q1 Polish operations have earned ebitda in amount of 3.5 million
kroons (0.2 million Euros) and operational loss of -8.1 million kroons (-0.5
million Euros).
During the first quarter of 2010 one of the three casinos closed in the 3rd
quarter of 2009 was reopened. At the end of March there were 9 Olympic Casinos
operating in Poland with a total of 353 slot machines and 67 game tables.
Romanian segment
Romanian segment external revenue for the 1st quarter of 2010 amounted to 18.6
million kroons (1.2 million Euros), including gaming revenue of 15.1 million
kroons (1.0 million Euros) and other revenue of 3.5 million kroons (0.2 million
Euros). Romania segment external revenue has grown 75.2% in comparison with the
same period last year.
Romania segment 2010 Q1 ebitda composed 0.4 million kroons (0.03 million Euros)
and operational profit totalled -3.3 million kroons (-0.2 million Euros). In the
2009 Q1 Romanian segment has earned -7.7 million kroons of ebitda (-0.5 million
Euros) and -13.9 million kroons of operational loss (-0.9 million Euros).
At the end of March 2 Olympic Casinos operated in Romania, with 88 slot machines
and 13 game tables.
Slovakian segment
Slovakian segment finished the first quarter of 2010 with external revenue of
32.7 million kroons (2.1 million Euros), including gaming revenue of 29.7
million kroons (1.9 million Euros) and other revenue of 3.0 million kroons (0.2
million Euros). The segment´s external revenue has grown 25.5% compared to the
first quarter of 2009.
Slovakian segment ebitda for the first quarter of 2010 composed 7.0 million
kroons (0.4 million Euros) and operational profit amounted to 3.9 million kroons
(0.2 million Euros). During the first quarter of 2009 the segment has earned
ebitda of 2.9 million kroons (0.2 million Euros) and operational profit of 0.3
million kroons (0.02 million Euros).
At the end of the quarter there were 2 Olympic Casinos operating in Slovakia,
with 102 slot machines and 22 game tables.
Balance sheet
At 31 March 2010, the consolidated balance sheet of Group totaled 1,778.9
million kroons (113.7 million euros). At 31 December 2009, the consolidated
balance sheet of Group amounted to 1,776.0 million kroons (113.5 million euros).
Current assets accounted for 552.2 million kroons (35.3 million Euros) or 31.0%
of total assets and non-current assets for 1,226.7 million kroons (78.4 million
Euros) or 69.0% of total assets. Intangible assets accounted for 460.1 million
kroons (29.4 million Euros) or 37.5% of non-current assets. At 31 March 2010,
Group´s consolidated liabilities amounted to 463.7 million kroons (29.6 million
Euros) and consolidated equity totalled 1,315.1 million kroons (84.1 million
Euros). The largest part of liabilities were loans in amount of 276.3 million
kroons (17.7 million Euros), tax commitments of 48.1 million kroons (3.1 million
Euros) and payables to employees of 47.9 million kroons (3.1 million Euros).
Investment
In the 1st quarter of 2010, the Group´s expenditures on property, plant and
equipment amounted to 25.8 million kroons (1.6 million Euros). The most
significant part of this amount, 19.6 million kroons (1.3 million Euros), was
invested in new gaming equipment.
Cash flows
Group´s operational cash flows during the first 3 months of 2010 were 84.6
million kroons (5.4 million Euros), cash flows from investing activities were
5.6 million kroons (0.4 million Euros) and cash flows from financing activities
were -18.4 million kroons (-1.2 million Euros). Net cash flows amounted to 71.8
million kroons (4.6 million Euros).
People
At March 31st 2010, the Group employed 2,336 employees (31.03.09 excluding
Ukraine: 2,827): 488 in Estonia, 486 in Latvia, 525 in Lithuania, 91 in Belarus,
452 in Poland, 168 in Romania and 126 in Slovakia.
Employee remuneration expenses including social charges in the 1st quarter of
2010 amounted to 114.3 million kroons (7.3 million Euros); last year the
relevant figure was 152.3 million kroons (9.7 million Euros).
The Group's key financials
Continuing operations
--------------------------------------------------------------------------------
| | 3 months | 3 months | Change |
| | 2010 | 2009 | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Revenue (million kroons) | 411.9 | 430.5 | -4.3% |
--------------------------------------------------------------------------------
| EBITDA (million kroons) | 68.7 | -5.0 | |
--------------------------------------------------------------------------------
| Operating profit/-loss (million | 1.6 | -87.9 | |
| kroons) | | | |
--------------------------------------------------------------------------------
| Net profit (million kroons) | -1.3 | -86.8 | -98.5% |
--------------------------------------------------------------------------------
| EBITDA marginal | 16.7% | -1.2% | |
--------------------------------------------------------------------------------
| EBIDTA margin | 0.4% | -20.4% | |
--------------------------------------------------------------------------------
| Net margin | -0.3% | -20.2% | |
--------------------------------------------------------------------------------
| Equity ration | 73.9% | 76.4% | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Number of casinos at the end of | 67 | 97 | -30 |
| the period | | | |
--------------------------------------------------------------------------------
| Total area of casinos at the end | 26,221 | 30,779 | -4,558 |
| of the period | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Number of slots at the end of the | 2,511 | 3,265 | -754 |
| period | | | |
--------------------------------------------------------------------------------
| Number of game tables at the end | 200 | 209 | -9 |
| of the period | | | |
--------------------------------------------------------------------------------
Underlying formulas
o EBITDA = earnings before financial expenses, taxes, depreciation, amortization
and impairment losses
o Operating profit = profit before financial expenses and taxes
o Net profit = net profit for the period before minority interest
o EBITDA margin = EBITDA / revenue
o Operating margin = operating profit / revenue
o Net margin = net profit / revenue
o Equity ratio = equity / total assets
1 EUR = 15.6466 EEK
Consolidated interim statement of financial position
--------------------------------------------------------------------------------
| (In thousands of Estonian kroons) | (In thousands of euro) |
--------------------------------------------------------------------------------
| ASSETS | 31 March | 31 March | 31 March 2010 | 31 March |
| | 2010 | 2009 | | 2009 |
--------------------------------------------------------------------------------
| Current assets | | | | |
--------------------------------------------------------------------------------
| Cash and cash | 358 426 | 286 067 | 22 908 | 18 283 |
| equivalents | | | | |
--------------------------------------------------------------------------------
| Financial | 55 310 | 48 184 | 3 535 | 3 080 |
| investments | | | | |
--------------------------------------------------------------------------------
| Trade receivables | 9 210 | 5 473 | 588 | 350 |
--------------------------------------------------------------------------------
| Other receivables | 73 591 | 73 977 | 4 703 | 4 728 |
| and prepayments | | | | |
--------------------------------------------------------------------------------
| Prepaid income tax | 24 634 | 23 437 | 1 574 | 1 498 |
--------------------------------------------------------------------------------
| Inventories | 14 797 | 14 068 | 946 | 899 |
--------------------------------------------------------------------------------
| Non-current assets | 16 239 | 17 833 | 1 038 | 1 140 |
| held for sale | | | | |
--------------------------------------------------------------------------------
| Total current | 552 207 | 469 039 | 35 292 | 29 978 |
| assets | | | | |
--------------------------------------------------------------------------------
| Non-current assets | | | | |
--------------------------------------------------------------------------------
| Deferred tax | 25 614 | 21 395 | 1 637 | 1 367 |
| assets | | | | |
--------------------------------------------------------------------------------
| Financial | 14 369 | 61 405 | 919 | 3 924 |
| investments | | | | |
--------------------------------------------------------------------------------
| Other long-term | 16 194 | 15 983 | 1 035 | 1 021 |
| receivables | | | | |
--------------------------------------------------------------------------------
| Investment | 22 688 | 23 658 | 1 450 | 1 512 |
| property | | | | |
--------------------------------------------------------------------------------
| Property, plant | 687 720 | 733 757 | 43 953 | 46 896 |
| and equipment | | | | |
--------------------------------------------------------------------------------
| Intangible assets | 460 075 | 450 778 | 29 404 | 28 810 |
--------------------------------------------------------------------------------
| Total non-current | 1 226 660 | 1 306 976 | 78 398 | 83 530 |
| assets | | | | |
--------------------------------------------------------------------------------
| TOTAL ASSETS | 1 778 867 | 1 776 015 | 113 690 | 113 508 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| (In thousands of Estonian kroons) | (In thousands of euro) |
--------------------------------------------------------------------------------
| LIABILITIES AND | 31 March | 31 March | 31 March 2010 | 31 March |
| EQUITY | 2010 | 2009 | | 2009 |
--------------------------------------------------------------------------------
| LIABILITIES | | | | |
--------------------------------------------------------------------------------
| Current | | | | |
| liabilities | | | | |
--------------------------------------------------------------------------------
| Borrowings | 73 675 | 88 145 | 4 709 | 5 633 |
--------------------------------------------------------------------------------
| Customer advances | 18 882 | 16 252 | 1 207 | 1 039 |
--------------------------------------------------------------------------------
| Trade payables | 32 450 | 27 513 | 2 074 | 1 758 |
--------------------------------------------------------------------------------
| Other payables | 2 850 | 2 896 | 182 | 185 |
--------------------------------------------------------------------------------
| Income tax payable | 1 188 | 298 | 76 | 19 |
--------------------------------------------------------------------------------
| Other tax | 46 872 | 48 695 | 2 995 | 3 112 |
| liabilities | | | | |
--------------------------------------------------------------------------------
| Other accrued | 60 846 | 54 774 | 3 889 | 3 501 |
| payables | | | | |
--------------------------------------------------------------------------------
| Provisions | 17 902 | 17 947 | 1 144 | 1 147 |
--------------------------------------------------------------------------------
| Total current | 254 665 | 256 520 | 16 276 | 16 394 |
| liabilities | | | | |
--------------------------------------------------------------------------------
| Non-current liabilities | | | |
--------------------------------------------------------------------------------
| Deferred tax | 6 186 | 4 723 | 395 | 302 |
| liability | | | | |
--------------------------------------------------------------------------------
| Borrowings | 202 867 | 221 032 | 12 966 | 14 127 |
--------------------------------------------------------------------------------
| Total non-current | 209 053 | 225 755 | 13 361 | 14 429 |
| liabilities | | | | |
--------------------------------------------------------------------------------
| Total liabilities | 463 718 | 482 275 | 29 637 | 30 823 |
--------------------------------------------------------------------------------
| EQUITY | | | | |
--------------------------------------------------------------------------------
| Share capital | 1 510 000 | 1 510 000 | 96 507 | 96 507 |
--------------------------------------------------------------------------------
| Share premium | 227 273 | 227 273 | 14 525 | 14 525 |
--------------------------------------------------------------------------------
| Statutory reserve | 37 759 | 37 759 | 2 413 | 2 413 |
| capital | | | | |
--------------------------------------------------------------------------------
| Translation | 23 361 | 390 | 1 493 | 25 |
| reserves | | | | |
--------------------------------------------------------------------------------
| Retained earnings | -550 827 | -545 450 | -35 204 | -34 861 |
--------------------------------------------------------------------------------
| Total equity | 1 247 566 | 1 229 972 | 79 734 | 78 609 |
| attributable to | | | | |
| equity | | | | |
| holders of the | | | | |
| parent | | | | |
--------------------------------------------------------------------------------
| Minority interest | 67 583 | 63 768 | 4 319 | 4 076 |
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| Total equity | 1 315 149 | 1 293 740 | 84 053 | 82 685 |
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| TOTAL LIABILITIES | 1 778 867 | 1 776 015 | 113 690 | 113 508 |
| AND EQUITY | | | | |
--------------------------------------------------------------------------------
Consolidated interim statement of comprehensive income
--------------------------------------------------------------------------------
| (In thousands of Estonian kroons) | (In thousands of euro) |
--------------------------------------------------------------------------------
| | Q1 2010 | Q1 2009 | Q1 2010 | Q1 2009 |
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| Continuing | | | | |
| operations | | | | |
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| Revenue and income | | | | |
--------------------------------------------------------------------------------
| Income from gaming | 382 858 | 402 864 | 24 469 | 25 748 |
| transactions | | | | |
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| Revenue | 26 165 | 25 792 | 1 672 | 1 648 |
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| Other income | 2 862 | 1 803 | 183 | 115 |
--------------------------------------------------------------------------------
| Total revenue and | 411 885 | 430 459 | 26 324 | 27 511 |
| income | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Expenses | | | | |
--------------------------------------------------------------------------------
| Cost of materials, | -9 428 | -11 838 | -602 | -756 |
| goods and services | | | | |
--------------------------------------------------------------------------------
| Other operating | -218 742 | -260 325 | -13 980 | -16 638 |
| expenses | | | | |
--------------------------------------------------------------------------------
| Personnel expenses | -114 310 | -152 257 | -7 306 | -9 731 |
--------------------------------------------------------------------------------
| Depreciation, | -67 124 | -82 931 | -4 290 | -5 300 |
| amortisation and | | | | |
| impairment losses | | | | |
--------------------------------------------------------------------------------
| Other expenses | -687 | -11 057 | -44 | -707 |
--------------------------------------------------------------------------------
| Total expenses | -410 291 | -518 408 | -26 222 | -33 132 |
--------------------------------------------------------------------------------
| Operating profit | 1 594 | -87 949 | 102 | -5 621 |
| (loss) | | | | |
--------------------------------------------------------------------------------
| Financial income and | | | | |
| expenses | | | | |
--------------------------------------------------------------------------------
| Interest income | 1 019 | 2 870 | 65 | 184 |
--------------------------------------------------------------------------------
| Interest expense | -3 662 | -5 412 | -234 | -346 |
--------------------------------------------------------------------------------
| Foreign exchange | -263 | 3 698 | -17 | 236 |
| income and expenses | | | | |
--------------------------------------------------------------------------------
| Other financial | -31 | -49 | -2 | -3 |
| income and expenses | | | | |
--------------------------------------------------------------------------------
| Total financial | -2 937 | 1 107 | -188 | 70 |
| income and expenses | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Loss before tax | -1 343 | -86 842 | -86 | -5 551 |
--------------------------------------------------------------------------------
| Income tax expense | -219 | -370 | -14 | -24 |
--------------------------------------------------------------------------------
| NET LOSS FROM | -1 562 | -87 212 | -100 | -5 575 |
| CONTINUING | | | | |
| OPERATIONS FOR THE | | | | |
| PERIOD | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| NET LOSS FROM | 0 | -10 238 | 0 | -654 |
| DISCONTINUED | | | | |
| OPERATIONS FOR THE | | | | |
| PERIOD | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| NET LOSS FOR THE | -1 562 | -97 450 | -100 | -6 229 |
| PERIOD | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Other comprehensive income (loss) for the period | | |
--------------------------------------------------------------------------------
| Translation reserve | | | | |
--------------------------------------------------------------------------------
| including continuing | 22 971 | -50 070 | 1 468 | -3 200 |
| operations | | | | |
--------------------------------------------------------------------------------
| including discontinued | 0 | 11 338 | 0 | 725 |
| operations | | | | |
--------------------------------------------------------------------------------
| Other comprehensive income | 22 971 | -38 732 | 1 468 | -2 475 |
| (loss) for the period | | | | |
--------------------------------------------------------------------------------
| Total comprehensive income | 21 409 | -136 18 | 1 368 | -8 704 |
| (loss) for the period | | 2 | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit (loss) for the period attributable to | | |
--------------------------------------------------------------------------------
| Minority interest | 3 815 | -1 009 | 243 | -65 |
--------------------------------------------------------------------------------
| Equity holders of the | | | | |
| parent | | | | |
--------------------------------------------------------------------------------
| including continuing | -5 377 | -86 203 | -343 | -5 510 |
| operations | | | | |
--------------------------------------------------------------------------------
| including discontinued | 0 | -10 238 | 0 | -654 |
| operations | | | | |
--------------------------------------------------------------------------------
| | -1 562 | -97 450 | -100 | -6 230 |
--------------------------------------------------------------------------------
| Total comprehensive income (loss) | | |
| attributable to | | |
--------------------------------------------------------------------------------
| Minority interest | 3 815 | -1 009 | 243 | -65 |
--------------------------------------------------------------------------------
| Equity holders of the | | | | |
| parent | | | | |
--------------------------------------------------------------------------------
| including continuing | 17 594 | -136 | 1 125 | -8 710 |
| operations | | 273 | | |
--------------------------------------------------------------------------------
| including discontinued | 0 | 1 100 | 0 | 71 |
| operations | | | | |
--------------------------------------------------------------------------------
| | 21 409 | -136 | 1 368 | -8 704 |
| | | 182 | | |
--------------------------------------------------------------------------------
| Continuing operations | | | | |
--------------------------------------------------------------------------------
| Basic earnings (loss) per | -0,04 | -0,57 | -0,002 | -0,04 |
| share | | | | |
--------------------------------------------------------------------------------
| Diluted earnings (loss) | -0,04 | -0,57 | -0,002 | -0,04 |
| per share | | | | |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Discontinued operations | | | | |
--------------------------------------------------------------------------------
| Basic earnings (loss) per | 0,00 | -0,07 | 0,00 | 0,00 |
| share | | | | |
--------------------------------------------------------------------------------
| Diluted earnings (loss) | 0,00 | -0,07 | 0,00 | 0,00 |
| per share | | | | |
--------------------------------------------------------------------------------
Additional information:
Kristi Ojakäär
CFO
Olympic Entertainment Group AS
Tel + 372 667 1250
E-post [email protected]
http://www.olympic-casino.com