Market announcement
Olympic Entertainment Group AS
LEI code
097900BHBZ0000064366
General information
Categories
Management interim statement or quarterly financial report
Unique data record identifier
3012
Attachments
Submission date and time
28.02.2011 16:59:49
Content of announcement in Estonian
Title
OEG konsolideeritud auditeerimata majandustulemused, 4. kvartal ja 12 kuud 2010
Message
Ülevaade Grupi olulisematest sündmustest ja arengust 2010. aastal:
-- Kontsern jõudis puhaskasumisse - konsolideeritud puhaskasum peale tulumaksu
moodustas 2010. aasta kokkuvõttes 17,2 miljonit krooni (1,1 miljonit
eurot). 2009. aasta jooksul teenis Kontsern jätkuvates tegevusvaldkondades
puhaskahjumit peale tulumaksu 332,5 miljonit krooni (21,3 miljonit eurot).
-- Kontserni äritegevuse efektiivsus paranes oluliselt. Kontserni teenis
jätkuvates tegevusvaldkondades 2010. aastaga äritulusid 1 760,6 miljonit
krooni (112,5 miljonit eurot) ehk 3,4% rohkem võrreldes 2009. aasta
ärituludega. Opereeritavate kasiinode arv vähenes samade perioodide
võrdluses 2 kasiino ehk 3% võrra. Tegevuskulusid vähendati samal ajal 16,1%
ehk 327,8 miljonit krooni (21 miljonit eurot).
-- Seoses Kontserni äritegevuse efektiivsuse tõstmise eesmärgiga otsustati
sulgeda 3 kasiinot, mille tulemusena hinnati alla ka varasid kokku 15,3
miljonit krooni (1,0 miljonit eurot).
-- Kontsern kasvatas planeeritult oma turuosa. 2010. aasta lõpus oli Kontserni
turuosa Eestis 53%, Lätis 20% ja Leedus 68%. 2009. aasta lõpus oli turuosa
Eestis 49%, Lätis 13% ja Leedus 60%.
-- Jaanuaris 2010 väljastati Eesti esimene kaughasartmängu korraldusluba
Kontserni tütarettevõttele Olympic Casino Eesti AS. Veebikasiino
lansseeriti veebruaris. 2010. aasta jooksul teenis Kontsern
kaughasartmängude korraldamisest ärituludena 19,7 miljonit krooni (1,3
miljonit eurot).
-- Juunis alustati uue ehk kolmanda kasiino projektiga Slovakkias. Slovakkia
segment on käesoleval aastal näidanud suurimat tulude kasvu ehk 26,5%
võrreldes möödunud aastaga. Slovakkia kolmas Olympic Casino avati oktoobri
lõpus Bratislava kesklinna modernseimas ja suurimas Eurovea Galleria
kaubanduskeskuses. Kasiino avamisse investeeriti 6,3 miljonit krooni (0,4
miljonit eurot).
2010. aasta 4. kvartali tulemuste lühikokkuvõte:
Jätkuvad tegevusvaldkonnad
Äritulud: 484,9 miljonit krooni (4.kv 2009: 423,5)
--------------------------------------------------------------------------------
EBITDA: 87,3 miljonit krooni (4.kv 2009: 6,5)
--------------------------------------------------------------------------------
EBITDA marginaal: 18,2% (4.kv 2009: 1,5%)
--------------------------------------------------------------------------------
EBIT: 16,2 miljonit krooni (4.kv 2009: -114,6)
--------------------------------------------------------------------------------
EBIT marginaal: 3,4% (4.kv 2009: -27,1%)
--------------------------------------------------------------------------------
Puhaskasum (-kahjum) enne 16,1 miljonit krooni (4.kv 2009: -116,6)
tulumaksu*:
--------------------------------------------------------------------------------
2010. aasta tulemuste lühikokkuvõte:
Jätkuvad tegevusvaldkonnad
Äritulud: 1 760,6 miljonit krooni (2009: 1 702,5)
-------------------------------------------------------------------------------
EBITDA: 330,1 miljonit krooni (2009: 60,3)
-------------------------------------------------------------------------------
EBITDA marginaal: 18,8% (2009: 3,5%)
-------------------------------------------------------------------------------
EBIT: 49,1 miljonit krooni (2009: -336,9)
-------------------------------------------------------------------------------
EBIT marginaal: 2,8% (2009: -19,8%)
-------------------------------------------------------------------------------
Puhaskasum (-kahjum) enne tulumaksu*: 42,5 miljonit krooni (2009: -344,5)
-------------------------------------------------------------------------------
* Puhaskasum (-kahjum) enne vähemusosalust
1 EUR = 15,6466 EEK
Kontsernivälised äritulud
(tuhandetes EEK) 2010 Kasv Osakaal 2009 Osakaal
----------------------------------------------------------------
Eesti 433 402 10,6% 24,6% 391 705 23,0%
----------------------------------------------------------------
Läti 388 157 5,9% 22,0% 366 602 21,5%
----------------------------------------------------------------
Leedu 268 861 -7,3% 15,3% 290 054 17,0%
----------------------------------------------------------------
Valgevene 50 858 19,4% 2,9% 42 592 2,5%
----------------------------------------------------------------
Poola 436 096 -1,7% 24,8% 443 473 26,1%
----------------------------------------------------------------
Rumeenia 41 756 -25,7% 2,4% 56 166 3,3%
----------------------------------------------------------------
Slovakkia 141 484 26,5% 8,0% 111 892 6,6%
----------------------------------------------------------------
Kokku 1 760 614 3,4% 100,0% 1 702 484 100,0%
----------------------------------------------------------------
1 EUR = 15,6466 EEK
2010. aasta kokkuvõttes teenis Kontsern konsolideeritud müügitulusid 1 744,2
miljonit krooni (111,5 miljonit eurot) ning äritulusid kokku 1 760,6 miljonit
krooni (112,5 miljonit eurot), mis on 3,4% rohkem kui 2009. aastaga teenitud
jätkuvate tegevusvaldkondade 1 702,5 miljoni kroonine (108,8 miljonit eurot)
kogutulu. Kontserni EBITDA kasvas eelmise aasta jätkuvate tegevusvaldkondade
tulemuselt 60,3 miljonit krooni (3,9 miljonit eurot) käesoleva aasta lõikes
330,1 miljoni kroonini (21,1 miljonit eurot). Ärikasum 2010. aasta kokkuvõttes
moodustas 49,1 miljonit krooni (3,1 miljonit eurot), eelmise aasta ärikahjum
oli 336,9 miljonit krooni (21,5 miljonit eurot).
Kontserni konsolideeritud äritulud koosnesid 2010. aasta lõikes 92%
hasartmängutuludest ja 8% muudest tuludest, eelmise aastal olid vastavad
osakaalud 93% ja 7%.
2010. aasta lõpus oli Kontsernis kokku 66 kasiinot, üldpinnaga 25 802 m². 2009.
aasta septembri lõpus oli Kontserni kasiinode arv 68 ja kasiinode üldpind kokku
25 745 m².
Kasiinode arv segmenditi
-------------------------------------
31.12.2010 31.12.2009
------------------------------------------------
Eesti 17 19
------------------------------------------------
Läti 21 21
------------------------------------------------
Leedu 11 10
------------------------------------------------
Valgevene 5 5
------------------------------------------------
Poola 7 9
------------------------------------------------
Rumeenia 2 2
------------------------------------------------
Slovakkia 3 2
------------------------------------------------
Kokku 66 68
------------------------------------------------
Kontserni 2010. aasta konsolideeritud ärikulud enne amortisatsiooni ja
allahindluse kulusid kahanesid võrreldes 2009. aasta jätkuvate
tegevusvaldkondade vastavate kuludega kokku 12,9% ehk 211,7 miljoni krooni
(13,5 miljonit eurot) võrra. Kõige enam kahanesid võrreldes 2009. aastaga
tööjõukulud 11,5% ehk 61,2 miljonit krooni (3,9 miljonit eurot), rendikulud
25,8% ehk 58,6 miljonit krooni (3,7 miljonit eurot) ja mänguseadmete
hoolduskulud 55,7% ehk 27,4 miljonit krooni (1,8 miljonit eurot).
Suurima osa Kontserni ärikuludest enne amortisatsiooni ja allahindlusi
moodustasid tööjõukulud koos sotsiaalmaksudega 468,8 miljonit krooni (30
miljonit eurot), järgnesid hasartmängumaksude kulud 398,5 miljonit krooni (25,5
miljonit eurot), rendikulu 168,6 miljonit krooni (10,8 miljonit eurot) ja
turunduskulud 147,9 miljonit krooni (9,5 miljonit eurot).
2010. aasta konsolideeritud puhaskasumiks peale tulumaksu kujunes 17,2 miljonit
krooni (1,1 miljonit eurot). 2009. aastal oli puhaskahjum peale tulumaksu
jätkuvates tegevusvaldkondades 332,5 miljonit krooni (21,3 miljonit eurot).
Eesti segment
2010. aastal moodustasid Eesti segmendi kontsernivälised äritulud kokku 433,4
miljonit krooni (27,7 miljonit eurot), millest hasartmängutulud maapealsetest
kasiinodest moodustasid 369,9 miljonit krooni (23,6 miljonit eurot),
hasartmängutulud internetikasiinost 19,7 miljonit krooni (1,3 miljonit eurot)
ja muud tulud 43,8 miljonit krooni (2,8 miljonit eurot).
Eesti segmendi kontsernivälised äritulud kasvasid võrreldes möödunud aastaga
10,6%. Hasartmänguturu langus Eestis 2010 lõikes võrreldes 2009. aastaga oli
1,6%. Olympic Casino Eesti AS turuosa Eesti hasartmänguturul oli käesoleva
aasta lõpus 53%, 2009. aasta lõpus oli Olympic Casino Eesti AS turuosa 49%.
Eesti segmendi EBITDAks 2010. aastal kujunes 84,4 miljonit krooni (5,4 miljonit
eurot) ja ärikasumiks kujunes 14,8 miljonit krooni (0,9 miljonit eurot). 2009.
aastaga teenis Eesti segment EBITDA-t -8,4 miljonit krooni (-0,5 miljonit
eurot) ja ärikahjumit 126,8 miljonit krooni (8,1 miljonit eurot).
Aasta lõpus tegutses Eestis kokku 17 Olympic kasiinot, milles oli kokku 698
mänguautomaati ja 19 mängulauda.
Läti segment
2010. aastal moodustasid Läti segmendi kontsernivälised äritulud kokku 388,2
miljonit krooni (24,8 miljonit eurot), millest hasartmängutulud moodustasid
353,3 miljonit krooni (22,6 miljonit eurot) ning muud tulud 34,9 miljonit
krooni (2,2 miljonit eurot). Läti segmendi kontsernivälised äritulud kasvasid
võrreldes eelmise aastaga 5,9%. Hasartmänguturu langus Lätis 2010. aastal
võrreldes 2009. aastaga oli 6,7%. Olympic Casino Latvia SIA turuosa Läti
hasartmänguturul oli 2010. aasta lõpus 20% ning 2019. aasta lõpus oli Olympic
Casino Latvia SIA turuosa 13%.
Läti segmendi 2010 EBITDAks kujunes 140,7 miljonit krooni (9 miljonit eurot) ja
ärikasumiks kujunes 76 miljonit krooni (4,9 miljonit eurot). 2009. aastaga
teenis Läti segment EBITDAt 57,8 miljonit krooni (3,7 miljonit eurot) ja
ärikahjumit 39,5 miljonit krooni (2,5 miljonit eurot).
Aasta lõpus tegutses Lätis kokku 21 Olympic kasiinot, milles oli kokku 653
mänguautomaati ja 23 mängulauda.
Leedu segment
2010. aastal moodustasid Leedu segmendi kontsernivälised äritulud kokku 268,9
miljonit krooni (17,2 miljonit eurot), millest hasartmängutulud moodustasid
252,4 miljonit krooni (16,1 miljonit eurot) ning muud tulud 16,5 miljonit
krooni (1,1 miljonit eurot). Leedu segmendi kontsernivälised äritulud kahanesid
võrreldes eelmise aastaga 7,3%. Hasartmänguturu langus Leedus 2010. aastal
võrreldes aastaga 2009 oli 8,9%. Olympic Casino Group Baltija UAB turuosa Leedu
hasartmänguturul oli 2010. aasta lõpus 68% ning 2009. aasta lõpus oli Olympic
Casino Group Baltija UAB turuosa 60%.
Leedu segmendi 2010 EBITDAks kujunes 50,5 miljonit krooni (3,2 miljonit eurot)
ja ärikasumiks kujunes 14 miljonit krooni (0,9 miljonit eurot). 2009. aastaga
teenis Leedu segment EBITDAt 31,1 miljonit krooni (2 miljonit eurot) ja
ärikahjumit 38,8 miljonit krooni (2,5 miljonit eurot).
Aasta lõpus tegutses Leedus kokku 11 Olympic kasiinot, milles oli kokku 376
mänguautomaati ja 52 mängulauda.
Valgevene segment
2010. aastal teenis Valgevene segment kontsernivälised äritulud kokku 50,9
miljonit krooni (3,3 miljonit eurot), millest hasartmängutulud moodustasid 46,7
miljonit krooni (3 miljonit eurot) ning muud tulud 4,2 miljonit krooni (0,3
miljonit eurot). Valgevene segmendi kontsernivälised äritulud kasvasid
võrreldes eelmise aastaga 19,4%.
Valgevene segmendi 2010 EBITDAks kujunes 14,2 miljonit krooni (0,9 miljonit
eurot) ja ärikasumiks kujunes 0,3 miljonit krooni (0,02 miljonit eurot). 2009.
aastaga teenis Valgevene segment EBITDAt 5,3 miljonit krooni (0,3 miljonit
eurot) ja ärikahjumit 8,9 miljonit krooni (0,6 miljonit eurot).
Aasta lõpus tegutses Valgevenes kokku 5 Olympic kasiinot, milles oli kokku 240
mänguautomaati.
Poola segment
2010. aastaga teenis Poola segment kontserniväliseid äritulusid kokku 436,1
miljonit krooni (27,9 miljonit eurot), millest hasartmängutulud moodustasid
427,6 miljonit krooni (27,3 miljonit eurot) ning muud tulud 8,5 miljonit krooni
(0,5 miljonit eurot). Poola segmendi kontsernivälised äritulud kahanesid
võrreldes eelmise aastaga 1,7%.
Poola segmendi 2010. aasta EBITDAks kujunes 41,8 miljonit krooni (2,7 miljonit
eurot) ja ärikahjumiks kujunes 27,5 miljonit krooni (1,8 miljonit eurot).
Ärikahjumis sisaldub 15,3 miljonit krooni (1,0 miljonit eurot) kasiinode
sulgemisega seotud varade allahindluse kulusid ning 8,0 miljonit krooni (0,5
miljonit eurot) kahjuliku rendilepingu eraldise kulusid. 2009. aastal teenis
Poola segment EBITDAt 24,5 miljonit krooni (1,6 miljonit eurot) ja ärikahjumit
27,9 miljonit krooni (1,8 miljonit eurot).
Aasta lõpus tegutses Poolas kokku 7 Olympic kasiinot, milles oli kokku 329
mänguautomaati ja 45 mängulauda.
Rumeenia segment
2010. aastal moodustasid Rumeenia segmendi kontsernivälised äritulud kokku 41,8
miljonit krooni (2,7 miljonit eurot), millest hasartmängutulud moodustasid 28,3
miljonit krooni (1,8 miljonit eurot) ning muud tulud 13,5 miljonit krooni (0,9
miljonit eurot). Rumeenia segmendi kontsernivälised äritulud kahanesid
võrreldes eelmise aastaga 25,7%.
Rumeenia segmendi EBITDAks 2010. aasta kokkuvõttes kujunes -27,2 miljonit
krooni (-1,7 miljonit eurot) ja ärikahjumiks kujunes 40,7 miljonit krooni (2,6
miljonit eurot). 2009. aastaga teenis Rumeenia segment EBITDAt -67,1 miljonit
krooni (-4,3 miljonit eurot) ja ärikahjumit 99,3 miljonit krooni (6,3 miljonit
eurot).
Aasta lõpus tegutses Rumeenias kokku 2 Olympic kasiinot, milles oli kokku 79
mänguautomaati ja 13 mängulauda.
Slovakkia segment
2010. aasta jooksul moodustasid Slovakkia segmendi kontsernivälised äritulud
kokku 141,5 miljonit krooni (9 miljonit eurot), millest hasartmängutulud
moodustasid 126,5 miljonit krooni (8,1 miljonit eurot) ning muud tulud 15
miljonit krooni (0,9 miljonit eurot). Slovakkia segmendi kontsernivälised
äritulud kasvasid võrreldes eelmise aastaga 26,5%.
Slovakkia segmendi EBITDAks 2010. aasta lõikes kujunes 25,7 miljonit krooni
(1,6 miljonit eurot) ja ärikasumiks kujunes 12,2 miljonit krooni (0,8 miljonit
eurot). 2009. aastaga teenis Slovakkia segment EBITDAt 17 miljonit krooni (1,1
miljonit eurot) ja ärikasumit 4,2 miljonit krooni (0,3 miljonit eurot).
2010. aasta oktoobris avati Slovakkia pealinnas Bratislavas uus kasiino Eurovea
kaubanduskeskuses, aasta lõpus tegutses Slovakkias kokku 3 Olympic kasiinot,
milles oli kokku 144 mänguautomaati ja 30 mängulauda.
Finantsseisund
31.12.2010 seisuga oli Kontserni konsolideeritud bilansimaht 1 685,1 miljonit
krooni (107,7 miljonit eurot). 31.12.2009 seisuga oli Kontserni konsolideeritud
bilansimaht 1 776,0 miljonit krooni (113,5 miljonit eurot). Bilansimaht vähenes
2010. aasta jooksul 5,1%, mis on olulisemas osas seotud pangalaenu maksetega.
Käibevarad moodustasid varadest 643,2 miljonit krooni (41,1 miljonit eurot) ehk
38,2% kogu varadest ja põhivarad 1 041,8 miljonit krooni (66,6 miljonit eurot)
ehk 61,8% bilansimahust. Immateriaalsed varad moodustasid põhivaradest 454,7
miljonit krooni (29,1 miljonit eurot) ehk 43,6%.
Kontserni kohustused moodustasid bilansipäeval kokku 359,3 miljonit krooni
(23,0 miljonit eurot) ning konsolideeritud omakapital 1 325,8 miljonit krooni
(84,7 miljonit eurot). Kontserni kohustustest suurema osa moodustavad
laenukohustused 145,9 miljonit krooni (9,3 miljonit eurot), maksukohustused
63,1 miljonit krooni (4 miljonit eurot) ja kohustused töövõtjatele 45,5
miljonit krooni (2,9 miljonit eurot).
Investeeringud
Kontsern investeeris materiaalsesse põhivarasse 2010. aasta jooksul 68,4
miljonit krooni (4,4 miljonit eurot), millest 41,4 miljonit krooni (2,6
miljonit eurot) investeeriti uutesse mänguseadmetesse. Investeeringud
immateriaalsesse põhiavarasse 2010. aastaga moodustasid 10,5 miljonit krooni
(0,7 miljonit eurot).
2009. aastal investeeriti materiaalsesse ja immateriaalsesse põhivarasse kokku
66,3 miljonit krooni (4,2 miljonit eurot). Olulisem osa investeeringutest olid
seotud Rumeenia pealinnas Bukarestis avatud esinduskasiinoga ning teise kasiino
avamisega Slovakkias.
Rahavood
Kontserni äritegevuse rahavood 2010. aastal olid 315,6 miljonit krooni (20,2
miljonit eurot). Investeerimistegevuse rahavood moodustasid -4,7 miljonilt
krooni (-0,3 miljonit eurot) ja finantseerimistegevuse rahavood -145,3 miljonit
krooni (-9,3 miljonit eurot). Netorahavood kokku moodustasid 165,5 miljonit
krooni (10,6 miljonit eurot).
Kontserni äritegevuse rahavood 2009. aastal olid 104,6 miljonit krooni (6,7
miljonit eurot). Investeerimistegevuse rahavood moodustasid -81,0 miljonilt
kroonilt (-5,2 miljonit eurot) ja finantseerimistegevuse rahavood 31,4 miljonit
krooni (2 miljonit eurot). Netorahavood kokku moodustasid 55,0 miljonit krooni
(3,5 miljonit eurot).
Personal
31.12.2010 seisuga andis Kontsern tööd 2 115 inimesele (31.12.2009: 2 348).
Eesti ettevõtetes töötas aasta lõpus 437, Lätis 435, Leedus 512, Valgevenes 95,
Poolas 322, Rumeenias 151 ja Slovakkias 163 inimest.
2010. aasta jooksul arvestati Kontsernis töötajatele töötasusid koos
sotsiaalmaksudega kokku 468,8 miljonit krooni (30 miljonit eurot), möödunud
aastal samal ajal 529,9 miljonit krooni (33,9 miljonit eurot).
Kontserni põhilised arvnäitajad
Jätkuvad tegevusvaldkonnad
2010 2009 Muutus
--------------------------------------------------------------
--------------------------------------------------------------
Äritulud (miljon krooni) 1 760,6 1 702,5 3,4%
--------------------------------------------------------------
EBITDA (miljon krooni) 330,1 60,3 447,8%
--------------------------------------------------------------
Ärikasum (-kahjum) (miljon krooni) 49,1 -336,9
--------------------------------------------------------------
Puhaskasum (-kahjum) (miljon krooni) 17,2 -332,5
--------------------------------------------------------------
EBITDA marginaal 18,8% 3,5% 429,7%
--------------------------------------------------------------
Ärirentaablus 2,8% -19,8%
--------------------------------------------------------------
Puhasrentaablus 1% -19,5%
--------------------------------------------------------------
Omakapitali suhtarv 78,7% 72,8%
--------------------------------------------------------------
--------------------------------------------------------------
Kasiinode arv perioodi lõpus 66 68 -2
--------------------------------------------------------------
Kasiinode pind m2 perioodi lõpus 25 802 25 745 57
--------------------------------------------------------------
--------------------------------------------------------------
Mänguautomaatide arv perioodi lõpus 2 519 2 388 131
--------------------------------------------------------------
Mängulaudade arv perioodi lõpus 182 186 -4
--------------------------------------------------------------
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 / Äritulud
o Ärirentaablus = Ärikasum / Äritulud
o Puhasrentaablus = Puhaskasum / Äritulud
o Omakapitali suhtarv = Omakapital / Varad kokku
1 EUR = 15,6466 EEK
KONSOLIDEERITUD FINANTSSEISUNDI ARUANNE
VARAD (tuhandetes EEK) (tuhandetes EUR)
--------------------------------------------------------------------------------
31.12.2010 31.12.2009 31.12.2010 31.12.2009
--------------------------------------------------------------------------------
Käibevara
--------------------------------------------------------------------------------
Raha ja raha 453 130 286 067 28 960 18 283
ekvivalendid
--------------------------------------------------------------------------------
Finantsinvesteeringu 61 607 48 184 3 937 3 080
d
--------------------------------------------------------------------------------
Nõuded ostjate vastu 5 412 5 473 347 350
--------------------------------------------------------------------------------
Muud nõuded ja 72 168 73 977 4 612 4 728
ettemaksed
--------------------------------------------------------------------------------
Ettemakstud tulumaks 11 477 23 437 734 1 498
--------------------------------------------------------------------------------
Varud 22 154 14 068 1 416 899
--------------------------------------------------------------------------------
Müügiootel põhivarad 17 297 17 833 1 105 1 140
--------------------------------------------------------------------------------
Käibevara kokku 643 245 469 039 41 111 29 978
--------------------------------------------------------------------------------
Põhivara
--------------------------------------------------------------------------------
Edasilükkunud 17 179 21 395 1 098 1 367
tulumaksuvara
--------------------------------------------------------------------------------
Muud 14 510 61 405 927 3 924
finantsinvesteeringu
d
--------------------------------------------------------------------------------
Muud pikaajalised 14 844 15 983 949 1 021
nõuded
--------------------------------------------------------------------------------
Kinnisvarainvesteeri 22 130 23 658 1 414 1 512
ngud
--------------------------------------------------------------------------------
Materiaalne põhivara 518 447 733 757 33 135 46 896
--------------------------------------------------------------------------------
Immateriaalne 454 724 450 778 29 062 28 810
põhivara
--------------------------------------------------------------------------------
Põhivara kokku 1 041 834 1 306 976 66 585 83 530
--------------------------------------------------------------------------------
VARAD KOKKU 1 685 079 1 776 015 107 696 113 508
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
KOHUSTUSED JA (tuhandetes EEK) (tuhandetes EUR)
OMAKAPITAL
--------------------------------------------------------------------------------
31.12.2010 31.12.2009 31.12.2010 31.12.2009
--------------------------------------------------------------------------------
KOHUSTUSED
--------------------------------------------------------------------------------
Lühiajalised
kohustused
--------------------------------------------------------------------------------
Võlakohustused 48 641 88 145 3 109 5 633
--------------------------------------------------------------------------------
Ostjate ettemaksed 20 288 16 252 1 297 1 039
--------------------------------------------------------------------------------
Võlad tarnijatele 41 264 27 513 2 637 1 758
--------------------------------------------------------------------------------
Muud võlad 2 655 2 896 170 185
--------------------------------------------------------------------------------
Tulumaksukohustus 13 035 298 833 19
--------------------------------------------------------------------------------
Muud maksukohustused 50 119 48 695 3 203 3 112
--------------------------------------------------------------------------------
Viitvõlad 54 377 54 774 3 475 3 501
--------------------------------------------------------------------------------
Lühiajalised 26 505 17 947 1 694 1 147
eraldised
--------------------------------------------------------------------------------
Lühiajalised 256 884 256 520 16 418 16 394
kohustused kokku
--------------------------------------------------------------------------------
Pikaajalised
kohustused
--------------------------------------------------------------------------------
Edasilükkunud 4 901 4 723 313 302
tulumaksukohustus
--------------------------------------------------------------------------------
Pikaajalised 97 491 221 032 6 231 14 127
võlakohustused
--------------------------------------------------------------------------------
Pikaajalised 102 392 225 755 6 544 14 429
kohustused kokku
--------------------------------------------------------------------------------
Kohustused kokku 359 276 482 275 22 962 30 823
--------------------------------------------------------------------------------
OMAKAPITAL
--------------------------------------------------------------------------------
Aktsiakapital 1 513 295 1 510 000 96 717 96 507
--------------------------------------------------------------------------------
Ülekurss 227 421 227 273 14 535 14 525
--------------------------------------------------------------------------------
Kohustuslik 37 759 37 759 2 413 2 413
reservkapital
--------------------------------------------------------------------------------
Realiseerimata 11 579 390 740 25
kursivahed
--------------------------------------------------------------------------------
Kogunenud kahjum -527 337 -545 450 -33 703 -34 861
--------------------------------------------------------------------------------
Emaettevõtte 1 262 717 1 229 972 80 702 78 609
omanikele kuuluv
omakapital kokku
--------------------------------------------------------------------------------
Vähemusosalus 63 086 63 768 4 032 4 076
--------------------------------------------------------------------------------
Omakapital kokku 1 325 803 1 293 740 84 734 82 685
--------------------------------------------------------------------------------
KOHUSTUSED JA 1 685 079 1 776 015 107 696 113 508
OMAKAPITAL KOKKU
--------------------------------------------------------------------------------
KONSOLIDEERITUD
KOONDKASUMIARUANNE
--------------------------------------------------------------------------------
(tuhandetes EEK) 4. kv 2010 4. kv 2009 2010 2009
--------------------------------------------------------------------------------
Jätkuvad tegevusvaldkonnad
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Hasartmängutulud 445 077 389 749 1 624 386 1 579 370
--------------------------------------------------------------------------------
Müügitulud 32 455 29 513 119 816 111 838
--------------------------------------------------------------------------------
Muud äritulud 7 344 4 212 16 412 11 276
--------------------------------------------------------------------------------
Äritulud kokku 484 876 423 474 1 760 614 1 702 484
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Kaubad, toore, materjal ja -16 819 -14 090 -42 172 -52 038
teenused
--------------------------------------------------------------------------------
Mitmesugused tegevuskulud -249 931 -251 736 -913 645 -992 256
--------------------------------------------------------------------------------
Tööjõu kulud -128 903 -115 032 -468 757 -529 925
--------------------------------------------------------------------------------
Põhivara kulum ja väärtuse -70 511 -102 646 -280 510 -377 756
langus
--------------------------------------------------------------------------------
Kinnisvarainvesteeringu väärtuse -558 -19 402 -558 -19 402
langus
--------------------------------------------------------------------------------
Muud ärikulud -1 960 -35 127 -5 908 -68 004
--------------------------------------------------------------------------------
Ärikulud kokku -468 682 -538 033 -1 711 550 -2 039 381
--------------------------------------------------------------------------------
Ärikasum (-kahjum) 16 194 -114 559 49 064 -336 897
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Intressitulud 1 656 2 096 4 718 9 006
--------------------------------------------------------------------------------
Intressikulud -2 191 -4 325 -10 864 -19 497
--------------------------------------------------------------------------------
Kasum valuutakursi muutustest 493 282 103 3 177
--------------------------------------------------------------------------------
Muud finantstulud ja -kulud -90 -66 -509 -258
--------------------------------------------------------------------------------
Finantstulud ja -kulud kokku -132 -2 013 -6 552 -7 572
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Kasum (kahjum) enne tulumaksu 16 062 -116 572 42 512 -344 469
--------------------------------------------------------------------------------
Tulumaksukulu(-tulu) -17 499 10 269 -25 309 11 978
--------------------------------------------------------------------------------
JÄTKUVATE TEGEVUSVALDKONDADE -1 437 -106 303 17 203 -332 491
PERIOODI PUHASKASUM (-KAHJUM)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
LÕPETATUD TEGEVUSVALDKONDADE 0 31 774 0 -182 744
PERIOODI PUHASKASUM (-KAHJUM)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
PERIOODI PUHASKASUM (-KAHJUM) -1 437 -74 529 17 203 -515 235
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Muu koondkasum (-kahjum)
--------------------------------------------------------------------------------
Realiseerimata kursivahed
--------------------------------------------------------------------------------
jätkuvad tegevusvaldkonnad 3 426 5 980 11 189 -14 401
--------------------------------------------------------------------------------
lõpetatud tegevusvaldkonnad 0 -29 217 0 -20 616
--------------------------------------------------------------------------------
Kokku muu koondkasum (-kahjum) 3 426 -23 237 11 189 -35 017
--------------------------------------------------------------------------------
Kokku perioodi koondkasum 1 989 -97 766 28 392 -550 252
(-kahjum)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Perioodi puhaskasum (-kahjum)
--------------------------------------------------------------------------------
Vähemusosalus -2 098 -1 510 -682 -2 166
--------------------------------------------------------------------------------
Emaettevõtte omanike osa
--------------------------------------------------------------------------------
jätkuvad tegevusvaldkonnad 661 -104 793 17 885 -330 325
--------------------------------------------------------------------------------
lõpetatud tegevusvaldkonnad 0 31 774 0 -182 744
--------------------------------------------------------------------------------
-1 437 -74 529 17 203 -515 235
--------------------------------------------------------------------------------
Kokku perioodi koondkasum
(-kahjum)
--------------------------------------------------------------------------------
Vähemusosalus -2 098 -1 510 -682 -2 166
--------------------------------------------------------------------------------
Emaettevõtte omanike osa
--------------------------------------------------------------------------------
jätkuvad tegevusvaldkonnad 4 087 -98 813 29 074 -344 726
--------------------------------------------------------------------------------
lõpetatud tegevusvaldkonnad 0 2 557 0 -203 360
--------------------------------------------------------------------------------
1 989 -97 766 28 392 -550 252
--------------------------------------------------------------------------------
Jätkuvad tegevusvaldkonnad
--------------------------------------------------------------------------------
Tava kasum (-kahjum) aktsia 0,004 -0,69 0,12 -2,19
kohta
--------------------------------------------------------------------------------
Lahustatud kasum (-kahjum) 0,004 -0,69 0,12 -2,19
aktsia kohta
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Lõpetatud tegevusvaldkonnad
--------------------------------------------------------------------------------
Tava kasum (-kahjum) aktsia 0,00 0,21 0,00 -1,21
kohta
--------------------------------------------------------------------------------
Lahustatud kasum (-kahjum) 0,00 0,21 0,00 -1,21
aktsia kohta
--------------------------------------------------------------------------------
KONSOLIDEERITUD KOONDKASUMIARUANNE
--------------------------------------------------------------------------------
(tuhandetes EUR) 4. kv 2010 4. kv 2009 2010 2009
--------------------------------------------------------------------------------
Jätkuvad tegevusvaldkonnad
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Hasartmängutulud 28 446 24 910 103 817 100 940
--------------------------------------------------------------------------------
Müügitulud 2 074 1 886 7 658 7 148
--------------------------------------------------------------------------------
Muud äritulud 469 269 1 049 720
--------------------------------------------------------------------------------
Äritulud kokku 30 989 27 065 112 524 108 808
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Kaubad, toore, materjal ja teenused -1 075 -901 -2 695 -3 326
--------------------------------------------------------------------------------
Mitmesugused tegevuskulud -15 973 -16 089 -58 392 -63 417
--------------------------------------------------------------------------------
Tööjõu kulud -8 238 -7 352 -29 959 -33 869
--------------------------------------------------------------------------------
Põhivara kulum ja väärtuse langus -4 507 -6 560 -17 928 -24 143
--------------------------------------------------------------------------------
Kinnisvarainvesteeringu väärtuse -36 -1 240 -36 -1 240
langus
--------------------------------------------------------------------------------
Muud ärikulud -125 -2 245 -378 -4 346
--------------------------------------------------------------------------------
Ärikulud kokku -29 954 -34 387 -109 388 -130 341
--------------------------------------------------------------------------------
Ärikasum (-kahjum) 1 035 -7 322 3 136 -21 533
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Intressitulud 106 134 302 575
--------------------------------------------------------------------------------
Intressikulud -140 -276 -694 -1 246
--------------------------------------------------------------------------------
Kasum (kahjum) valuutakursi 32 18 7 203
muutustest
--------------------------------------------------------------------------------
Muud finantstulud ja -kulud -6 -4 -34 -16
--------------------------------------------------------------------------------
Finantstulud ja -kulud kokku -8 -128 -419 -484
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Kasum (kahjum) enne tulumaksu 1 027 -7 450 2 717 -22 017
--------------------------------------------------------------------------------
Tulumaksukulu(-tulu) -1 118 656 -1 618 766
--------------------------------------------------------------------------------
JÄTKUVATE TEGEVUSVALDKONDADE -91 -6 794 1 099 -21 251
PERIOODI PUHASKASUM (-KAHJUM)
--------------------------------------------------------------------------------
-------------------------------------
LÕPETATUD TEGEVUSVALDKONDADE 0 2 031 0 -11 679
PERIOODI PUHASKASUM (-KAHJUM)
--------------------------------------------------------------------------------
-------------------------------------
PERIOODI PUHASKASUM (-KAHJUM) -91 -4 763 1 099 -32 930
--------------------------------------------------------------------------------
-------------------------------------
Muu koondkasum (-kahjum)
--------------------------------------------------------------------------------
Realiseerimata kursivahed
--------------------------------------------------------------------------------
jätkuvad tegevusvaldkonnad 219 382 715 -920
--------------------------------------------------------------------------------
lõpetatud tegevusvaldkonnad 0 -1 867 0 -1 318
--------------------------------------------------------------------------------
Kokku muu koondkasum (-kahjum) 219 -1 485 715 -2 238
--------------------------------------------------------------------------------
Kokku perioodi koondkasum (-kahjum) 128 -6 248 1 814 -35 168
--------------------------------------------------------------------------------
-------------------------------------
Perioodi puhaskasum (-kahjum)
--------------------------------------------------------------------------------
Vähemusosalus -134 -97 -44 -138
--------------------------------------------------------------------------------
Emaettevõtte omanike osa
--------------------------------------------------------------------------------
jätkuvad tegevusvaldkonnad 43 -6 697 1 143 -21 113
--------------------------------------------------------------------------------
lõpetatud tegevusvaldkonnad 0 2 031 0 -11 679
--------------------------------------------------------------------------------
-91 -4 763 1 099 -32 930
--------------------------------------------------------------------------------
Kokku perioodi koondkasum (-kahjum)
--------------------------------------------------------------------------------
Vähemusosalus -134 -97 -44 -138
--------------------------------------------------------------------------------
Emaettevõtte omanike osa
--------------------------------------------------------------------------------
jätkuvad tegevusvaldkonnad 262 -6 315 1 858 -22 033
--------------------------------------------------------------------------------
lõpetatud tegevusvaldkonnad 0 164 0 -12 997
--------------------------------------------------------------------------------
128 -6 248 1 814 -35 168
--------------------------------------------------------------------------------
Jätkuvad tegevusvaldkonnad
--------------------------------------------------------------------------------
Tava kasum (-kahjum) aktsia kohta 0,0003 -0,04 0,01 -0,14
--------------------------------------------------------------------------------
Lahustatud kasum (-kahjum) aktsia 0,0003 -0,04 0,01 -0,14
kohta
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Lõpetatud tegevusvaldkonnad
--------------------------------------------------------------------------------
Tava kasum (-kahjum) aktsia kohta 0,00 0,013 0,00 -0,08
--------------------------------------------------------------------------------
Lahustatud kasum (-kahjum) aktsia 0,00 0,013 0,00 -0,08
kohta
--------------------------------------------------------------------------------
Lisainfo:
Madis Jääger
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 Q4 and 2010
Message
Overview of substantial events and developments of Group in 2010:
-- Group has achieved net profit - consolidated net profit after corporate
income tax for the 2010 composed 17.2 million kroons (1.1 million euros).
During 2009 Group has earned net loss after corporate income tax in
continuing operations in amount of 332.5 million kroons (21.3 million
euros).
-- Efficiency of the Group operational activity has improved significantly. 1
760.6 million kroons (112.5 million euros) of revenue was earned in Group
continuing operations, 3.4% more compared to 2009 revenue. At the same
time, the number of operated casinos was decreased by 2 or 3% and operating
expenses have been decreased by 16.1% or 327.8 million kroons (21 million
euros).
-- In order to improve operational efficiency the Group has decided to close 3
casinos that resulted to the assets impairment in the amount of 15.3
million kroons (1.0 million euros).
-- The Group has grown its market share in accordance with projections. By the
end of 2010 the market share in Estonia was 53%, in Latvia 20% and in
Lithuania 68%. At the end of 2009 the market share in Estonia was 49%, in
Latvia 13% and in Lithuania 60%.
-- 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 year of 2010 the Group has earned 19.7
million kroons (1.3 million euros) of revenue from the online gaming
activity.
-- In June new 3rd casino project was started in Slovakia. Slovakian segment
revenue growth has been the fastest this year, the growth composed 26.5%
compared to last year. The 3rd Olympic Casino is located in the newest and
largest shopping mall Eurovea Galleria in the Bratislava city center. The
total investment in the new casino amounted to 6.3 million kroons (0.4
million euros).
Selected financial data, Q4 2010:
Continuing operations
Revenue: 484.9 million kroons (Q4 2009: 423.5)
-------------------------------------------------------------------------------
EBITDA: 87.3 million kroons (Q4 2009: 6.5)
-------------------------------------------------------------------------------
EBITDA margin: 18.2% (Q4 2009: 1.5%)
-------------------------------------------------------------------------------
EBIT: 16.2 million kroons (Q4 2009: -114.6)
-------------------------------------------------------------------------------
EBIT margin: 3.4% (Q4 2009:-27.1%)
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Net profit (loss) before income tax*: 16.1 million kroons (Q4 2009: -116.6)
-------------------------------------------------------------------------------
Selected financial data, 2010:
Continuing operations
Revenue: 1,760.6 million kroons (Q4 2009: 1,702.5)
--------------------------------------------------------------------------------
EBITDA: 330.1 million kroons (Q4 2009: 60.3)
--------------------------------------------------------------------------------
EBITDA margin: 18.8% (Q4 2009: 3.5%)
--------------------------------------------------------------------------------
EBIT: 49.1 million kroons (Q4 2009: -336.9)
--------------------------------------------------------------------------------
EBIT margin: 2.8% (Q4 2009: -19.8%)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Net profit (loss) before income 42.5 million kroons (Q3 2009: -344.5)
tax*:
--------------------------------------------------------------------------------
* Net profit (loss) before minority interest
1 EUR = 15.6466 EEK
External revenue by segments
(thousands EEK) 2010 Change% Proportion 2009 Proportion
----------------------------------------------------------------------
Estonia 433,402 10.6% 24.6% 391,705 23.0%
----------------------------------------------------------------------
Latvia 388,157 5.9% 22.0% 366,602 21.5%
----------------------------------------------------------------------
Lithuania 268,861 -7.3% 15.3% 290,054 17.0%
----------------------------------------------------------------------
Belarus 50,858 19.4% 2.9% 42,592 2.5%
----------------------------------------------------------------------
Poland 436,096 -1.7% 24.8% 443,473 26.1%
----------------------------------------------------------------------
Romania 41,756 -25.7% 2.4% 56,166 3.3%
----------------------------------------------------------------------
Slovakia 141,484 26.5% 8.0% 111,892 6.6%
----------------------------------------------------------------------
Total 1,760,614 3.4% 100.0% 1,702,484 100.0%
----------------------------------------------------------------------
1 EUR = 15.6466 EEK
In the 2010 the Group has earned 1,744.2 million kroons (111.5 million euros)
of consolidated sales revenue and 1,760.6 million kroons (112.5 million euros)
of total revenue, which is 3.4% more than 1,702.5 million kroons (108.8 million
euros) total revenue earned from continuing operations in 2009. Group´s EBITDA
has grown from 60.3 million kroons (3.9 million euros) earned from continuing
operations in the year of 2009 to 330.1 million kroons (21.1 million euros)
earned within the current year. Operating profit for the year of 2010
constituted 49.1 million kroons (3.1 million euros), while operating loss for
2009 constituted 336.9 million kroons (21.5 million euros).
In 2010 92% of consolidated revenue was formed by gaming operations and 8% of
other income, last year the corresponding proportion was 93% to 7%.
At the end of 2010, Group operated 66 casinos with a total area of 25,802 m².
At the end of 2009 Group had 68 casinos with a total area of 25,745 m².
Number of casinos by segments
-----------------------------------------------------------------
31 December 2010 31 December 2009
------------------------------------------------------
Estonia 17 19
------------------------------------------------------
Latvia 21 21
------------------------------------------------------
Lithuania 11 10
------------------------------------------------------
Belarus 5 5
------------------------------------------------------
Poland 7 9
------------------------------------------------------
Romania 2 2
------------------------------------------------------
Slovakia 3 2
------------------------------------------------------
Total 66 68
------------------------------------------------------
Group consolidated expenses before depreciation and impairment during the year
of 2010 have decreased by 12.9% or 211.7 million kroons (13.5 million euros)
compared to the expenses from continuing operations in the 2010. The strongest
decline compared to 2009 came from personnel expenses 11.5% or 61.2 million
kroons (3.9 million euros), rental expenses 25.8% or 58.6 million kroons (3.7
million euros) and gaming equipment maintenance expenses 55.7% or 27.4 million
kroons (1.8 million euros).
The largest Group expense article before depreciation and impairment is
personnel expenses including social security taxes of 468.8 million kroons (30
million euros), followed by gaming tax expenses of 398.5 million kroons (25.5
million euros), rental expenses of 168.6 million kroons (10.8 million euros)
and marketing expenses of 147.9 million kroons (9.5 million euros).
Group´s net profit after corporate income tax for the year of 2010 equalled
17.2 million kroons (1.1 million euros), in the year of 2009 net loss from
continuing operations totalled 332.5 million kroons (21.3 million euros).
Estonian segment
In the year of 2010 the segment external revenue amounted to 433.4 million
kroons (27.7 million euros), including landbase gaming revenue of 369.9 million
kroons (23.6 million euros), online gaming revenue of 19.7 million kroons (1.3
million euros) and other revenue of 43.8 million kroons (2.8 million euros).
Estonian segment external revenue has grown by 10.6% compared to last year.
Decline of the Estonian gaming market in the year of 2010 compared to last year
composed 1.6%. Olympic Casino Eesti AS market share on Estonian gaming market
at the end of December 2010 composed 53%, at the end of December 2009 Olympic
Casino Eesti AS market share amounted to 49%.
Estonian segment 2010 EBITDA equalled 84.4 million kroons (5.4 million euros)
and operating profit amounted to 14.8 million kroons (0.9 million euros). In
the year of 2009 Estonian segment has earned an EBIDTA of -8.4 million kroons
(-0.5 million euros) and operating loss of 126.8 million kroons (8.1 million
euros).
At the end of December 2010, there were 17 Olympic Casinos in Estonia with a
total of 698 slot machines and 19 game tables.
Latvian segment
In the year of 2010 Latvian segment external revenue amounted to 388.2 million
kroons (24.8 million euros), including gaming revenue of 353.3 million kroons
(22.6 million euros) and other revenue of 34.9 million kroons (2.2 million
euros). Latvian segment external revenue has increased by 5.9% compared to the
same period last year. The decline of the gaming market in Latvia in the year
of 2010 composed 20% compared to the same period last year. At the end of
December 2010 Olympic Casino Latvia SIA market share on the Latvian gaming
market composed 20%, at the end of the December 2009 Olympic Casino Latvia SIA
market share was 13%.
Latvian segment EBITDA for the 2010 equalled 140.7 million kroons (9 million
euros) and operating profit amounted to 76 million kroons (4.9 million euros).
In the year of 2009 Latvian segment has earned an EBITDA of 57.8 million kroons
(3.7 million euros) and operating loss of 39.5 million kroons (2.5 million
euros).
At the end of December 2010 there were 21 Olympic casinos in Latvia with a
total of 653 slot machines and 23 game tables.
Lithuanian segment
Lithuanian segment has finished 2010 with an external revenue of 268.9 million
kroons (17.2 million euros), including gaming revenue of 252.4 million kroons
(16.1 million euros) and other revenue of 16.5 million kroons (1.1 million
euros). Lithuanian segment external revenue has decreased by 7.3% compared to
the same period last year. Decline of the gaming market in Lithuania in the
2010 totalled 8.9% in comparison with the 2009. At the end of December 2010
Olympic Casino Group Baltija UAB market share on Lithuanian gaming market was
68%, at the end of December 2009 Olympic Casino Group Baltija UAB market share
was 60%.
Lithuanian segment EBITDA in the 2010 amounted to 50.5 million kroons (3.2
million euros) and operating profit equalled 14 million kroons (0.9 million
euros). In the 2009 Lithuanian segment has earned an EBITDA of 31.1 million
kroons (2 million euros) and operating loss of 38.8 million kroons (2.5 million
euros).
At the end of December 2010 there were 11 Olympic casinos in Lithuania with a
total of 376 slot machines and 52 game tables.
Belarus segment
Belarus segment external revenue for the 2010 amounted to 50.9 million kroons
(3.3 million euros), including gaming revenue of 46.7 million kroons (3 million
euros) and other revenue of 4.2 million kroons (0.3 million euros). Belarus
segment external revenue has grown 19.4% compared to the same period a year
ago.
Belarus segment EBITDA for the year of 2010 totalled 14.2 million kroons (0.9
million euros) and operating profit equalled 0.3 million kroons (0.02 million
euros). In the year of 2009 Belarus segment has earned an EBITDA of 5.3 million
kroons (0.3 million euros) and operating loss of 8.9 million kroons (0.6
million euros).
At the end of December 2010, 5 Olympic Casinos were operating in Belarus with a
total of 240 slot machines.
Polish segment
Polish segment has finished the year of 2010 with an external revenue of 436.1
million kroons (27.9 million euros), including gaming revenue of 427.6 million
kroons (27.3 million euros) and other revenue of 8.5 million kroons (0.5
million euros). External revenue of the Polish segment has decreased by 1.7%
compared to last year.
Polish segment 2010 EBIDTA totalled 41.8 million kroons (2.7 million euros) and
operating loss was 27.5 million kroons (1.8 million euros). Operating loss
includes 15.3 million kroons (1.0 million euros) of assets impairment expenses
connected with closure of casinos and 8.0 million kroons (0.5 million euros)
provision of onerous rent contract. In the year of 2009 Polish segment has
earned an EBITDA of 24.5 million kroons (1.6 million euros) and operating loss
of 27.9 million kroons (1.8 million euros).
During the year of 2010 1 casino was reopened and 2 casinos were closed in
Poland. At the end of December 2010 there were 7 Olympic casinos in Poland with
a total of 329 slot machines and 45 game tables.
Romanian segment
In the year of 2010 Romanian segment external revenue equalled 41.8 million
kroons (2.7 million euros), including gaming revenue of 28.3 million kroons
(1.8 million euros) and other revenue of 13.5 million kroons (0.9 million
euros). Romanian segment external revenue has declined by 25.7% compared to the
year of 2009.
Romanian segment EBITDA for 2010 composed -27.2 million kroons (-1.7 million
euros) and operating loss was 40.7 million kroons (2.6 million euros). During
the year of 2009 Romanian segment has earned an EBITDA of -67.1 million kroons
(-4.3 million euros) and operating loss of 99.3 million kroons (6.3 million
euros).
At the end of December 2010, there were 2 Olympic casinos operating in Romania
with a total of 79 slot machines and 13 game tables.
Slovakian segment
In the year of 2010 Slovakian segment has earned 141.5 million kroons (9
million euros) of external revenue, including gaming revenue of 126.5 million
kroons (8.1 million euros) and other revenue of 15 million kroons (0.9 million
euros). Slovakian segment external revenue has grown by 26.5% compared to 2009.
Slovakian segment EBITDA for the 2010 amounted to 25.7 million kroons (1.6
million euros) and operating profit was 12.2 million kroons (0.8 million
euros). In 2009 Slovakian segment has earned an EBITDA of 17 million kroons
(1.1 million euros) and operating profit of 4.2 million kroons (0.3 million
euros).
At the end of December 2010, there were 3 Olympic casinos operating in Slovakia
with a total of 144 slot machines and 30 game tables.
Financial position
At December 30th 2010, the consolidated balance sheet of Group totaled 1,685.1
million kroons (107.7 million euros). At December 31st 2009, the consolidated
balance sheet of Group amounted to 1,776.0 million kroons (113.5 million
euros). Balance sheet volume has decreased by 5.1% within the year, which is
mostly connected with loan repayments.
Current assets accounted for 643.2 million kroons (41.1 million euros) or 38.2%
of total assets and non-current assets for 1,041.8 million kroons (66.6 million
euros) or 61.8% of total assets. Intangible assets accounted for 454.7 million
kroons (29.1 million euros) or 43.6% of non-current assets.
At December 30th 2010 Group´s liabilities amounted to 359.3 million kroons
(23.0 million euros) and consolidated equity totalled 1,325.8 million kroons
(84.7 million euros). The largest part of Group´s liabilities were loans in
amount of 145.9 million kroons (9.3 million euros), tax commitments of 63.1
million kroons (4 million euros) and payables to employees of 45.5 million
kroons (2.9 million euros).
Investments
In the year of 2010 Group´s investments into tangible assets amounted to 68.4
million kroons (4.4 million euros), including 41.4 million kroons (2.6 million
euros) invested into new gaming equipment. Investment into intangible assets
within the 2010 equalled 10.5 million kroons (0.7 million euros).
In the year of 2009 a total of 66.3 million kroons (4.2 million euros) was
invested into tangible and intangible fixed assets. The major part of
investments was connected with the flagship casino opened in Romanian capital
Bucharest and the opening of the second casino in Slovakia.
Cash flows
Group´s operating cash flows during the 2010 were 315.6 million kroons (20.2
million euros). Cash outflows from investing activities were 4.7 million kroons
(0.3 million euros) and cash outflows from financing activities were 145.3
million kroons (9.3 million euros). Net cash flows amounted to 165.5 million
kroons (10.6 million euros).
Group´s operating cash flows in the 2009 were 104.6 million kroons (6.7 million
euros). Cash outflows from investing activities composed 81.0 million kroons
(5.2 million euros) and cash flows from financing activities were 31.4 million
kroons (2 million euros). Net cash flows was 55.0 million kroons (3.5 million
euros).
People
As of 31 December 2010, the Group employed 2,115 people (31 December 2009:
2,348): 437 in Estonia, 435 in Latvia, 512 in Lithuania, 95 in Belarus, 322 in
Poland, 151 in Romania and 163 in Slovakia.
Employee remuneration expenses including social charges in the 2010 amounted to
468.8 million kroons (30 million euros); last year the relevant figure was
529.9 million kroons (33.9 million euros).
The Group's key financials
Continued operations
2010 2009 Change
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Revenue (million kroons) 1,760.6 1,702.5 3.4%
---------------------------------------------------------------------------
EBITDA (million kroons) 330.1 60.3 447.8%
---------------------------------------------------------------------------
Operating profit (loss) (million kroons) 49.1 -336.9
---------------------------------------------------------------------------
Net profit (loss) (million kroons) 17.2 -332.5
---------------------------------------------------------------------------
EBITDA margin 18.8% 3.5% 429.7%
---------------------------------------------------------------------------
Operating margin 2.8% -19.8%
---------------------------------------------------------------------------
Net margin 1% -19.5%
---------------------------------------------------------------------------
Equity ratio 78.7% 72.8%
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Number of casinos at the end of the period 66 68 -2
---------------------------------------------------------------------------
Total area of casinos m2 at the end of the period 25,802 25,745 57
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Number of slots at the end of the period 2,519 2,388 131
---------------------------------------------------------------------------
Number of game tables at the end of the period 182 186 -4
---------------------------------------------------------------------------
Underlying formulas
o EBITDA = earnings before financial expenses, taxes, depreciation,
amortisation 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 = 15.6466 kroons
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
ASSETS (In thousands of (In thousands of euro)
Estonian kroons)
--------------------------------------------------------------------------------
31.12.2010 31.12.2009 31.12.2010 31.12.2009
--------------------------------------------------------------------------------
Current assets
--------------------------------------------------------------------------------
Cash and cash equivalents 453,130 286,067 28,960 18,283
--------------------------------------------------------------------------------
Financial investments 61,607 48,184 3,937 3,080
--------------------------------------------------------------------------------
Trade receivables 5,412 5,473 347 350
--------------------------------------------------------------------------------
Other receivables and 72,168 73,977 4,612 4,728
prepayments
--------------------------------------------------------------------------------
Prepaid income tax 11,477 23,437 734 1,498
--------------------------------------------------------------------------------
Inventories 22,154 14,068 1,416 899
--------------------------------------------------------------------------------
Non-current assets held for 17,297 17,833 1,105 1,140
sale
--------------------------------------------------------------------------------
Total current assets 643,245 469,039 41,111 29,978
--------------------------------------------------------------------------------
Non-current assets
--------------------------------------------------------------------------------
Deferred tax assets 17,179 21,395 1,098 1,367
--------------------------------------------------------------------------------
Financial investments 14,510 61,405 927 3,924
--------------------------------------------------------------------------------
Other long-term receivables 14,844 15,983 949 1,021
--------------------------------------------------------------------------------
Investment property 22,130 23,658 1,414 1,512
--------------------------------------------------------------------------------
Property, plant and equipment 518,447 733,757 33,135 46,896
--------------------------------------------------------------------------------
Intangible assets 454,724 450,778 29,062 28,810
--------------------------------------------------------------------------------
Total non-current assets 1,041,834 1,306,976 66,585 83,530
--------------------------------------------------------------------------------
TOTAL ASSETS 1,685,079 1,776,015 107,696 113,508
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
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LIABILITIES AND EQUITY (In thousands of (In thousands of euro)
Estonian kroons)
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31.12.2010 31.12.2009 31.12.2010 31.12.2009
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LIABILITIES
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Current liabilities
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Borrowings 48,641 88,145 3,109 5,633
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Customer advances 20,288 16,252 1,297 1,039
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Trade payables 41,264 27,513 2,637 1,758
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Other payables 2,655 2,896 170 185
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Income tax payable 13,035 298 833 19
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Other tax liabilities 50,119 48,695 3,203 3,112
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Other accrued payables 54,377 54,774 3,475 3,501
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Provisions 26,505 17,947 1,694 1,147
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Total current liabilities 256,884 256,520 16,418 16,394
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Non-current liabilities
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Deferred tax liability 4,901 4,723 313 302
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Borrowings 97,491 221,032 6,231 14,127
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Total non-current liabilities 102,392 225,755 6,544 14,429
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Total liabilities 359,276 482,275 22,962 30,823
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EQUITY
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Share capital 1,513,295 1,510,000 96,717 96,507
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Share premium 227,421 227,273 14,535 14,525
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Statutory reserve capital 37,759 37,759 2,413 2,413
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Translation reserves 11,579 390 740 25
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Accumulated losses -527,337 -545,450 -33,703 -34,861
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Total equity attributable to 1,262,717 1,229,972 80,702 78,609
equity holders of the parent
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Minority interest 63,086 63,768 4,032 4,076
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Total equity 1,325,803 1,293,740 84,734 82,685
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TOTAL LIABILITIES AND EQUITY 1,685,079 1,776,015 107,696 113,508
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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(In thousands of Estonian kroons) Q4 2010 Q4 2009 2010 2009
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Continuing operations
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Revenue and income
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Income from gaming transactions 445,077 389,749 1,624,386 1,579,370
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Revenue 32,455 29,513 119,816 111,838
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Other income 7,344 4,212 16,412 11,276
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Total revenue and income 484,876 423,474 1,760,614 1,702,484
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Expenses
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Cost of materials, goods and -16,819 -14,090 -42,172 -52,038
services
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Other operating expenses -249,931 -251,736 -913,645 -992,256
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Personnel expenses -128,903 -115,032 -468,757 -529,925
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Depreciation, amortisation and -70,511 -102,646 -280,510 -377,756
impairment losses
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Change in the fair value of -558 -19,402 -558 -19,402
investment property
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Other expenses -1,960 -35,127 -5,908 -68,004
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Total expenses -468,682 -538,033 -1,711,550 -2,039,381
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Operating profit (loss) 16,194 -114,559 49,064 -336,897
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Financial income and expenses
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Interest income 1,656 2,096 4,718 9,006
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Interest expense -2,191 -4,325 -10,864 -19,497
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Foreign exchange loss 493 282 103 3,177
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Other financial income and expenses -90 -66 -509 -258
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Total financial income and expenses -132 -2,013 -6,552 -7,572
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Profit (loss) before tax 16,062 -116,572 42,512 -344,469
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Income tax expense -17,499 10,269 -25,309 11,978
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NET PROFIT (LOSS) FROM CONTINUING -1,437 -106,303 17,203 -332,491
OPERATIONS FOR THE PERIOD
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NET PROFIT (LOSS) FROM DISCONTINUED 0 31,774 0 -182,744
OPERATIONS FOR THE PERIOD
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NET PROFIT (LOSS) FOR THE PERIOD -1,437 -74,529 17,203 -515,235
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Other comprehensive profit (loss)
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Currency translation differences
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continuing operations 3,426 5,980 11,189 -14,401
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discontinued operations 0 -29,217 0 -20,616
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Total other comprehensive profit 3,426 -23,237 11,189 -35,017
(loss)
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Total comprehensive profit (loss) 1,989 -97,766 28,392 -550,252
for the period
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Net profit (loss) for the period
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Minority interest -2,098 -1,510 -682 -2,166
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Attributable to equity owners of the
parent
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continuing operations 661 -104,793 17,885 -330,325
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discontinued operations 0 31,774 0 -182,744
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-1,437 -74,529 17,203 -515,235
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Total comprehensive profit (loss)
for the period
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Minority interest -2,098 -1,510 -682 -2,166
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Attributable to equity owners of the
parent
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continuing operations 4,087 -98,813 29,074 -344,726
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discontinued operations 0 2,557 0 -203,360
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1,989 -97,766 28,392 -550,252
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Continuing operations
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Basic earnings (loss) per share 0.004 -0.69 0.12 -2.19
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Diluted earnings (loss) per share 0.004 -0.69 0.12 -2.19
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Discontinued operations
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Basic earnings (loss) per share 0.00 0.21 0.00 -1.21
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Diluted earnings (loss) per share 0.00 0.21 0.00 -1.21
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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(In thousands of euro) Q4 2010 Q4 2009 2010 2009
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Continuing operations
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Revenue and income
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Income from gaming transactions 28,446 24,910 103,817 100,940
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Revenue 2,074 1,886 7,658 7,148
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Other income 469 269 1,049 720
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Total revenue and income 30,989 27,065 112,524 108,808
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Expenses
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Cost of materials, goods and services -1,075 -901 -2,695 -3,326
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Other operating expenses -15,973 -16,089 -58,392 -63,417
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Personnel expenses -8,238 -7,352 -29,959 -33,869
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Depreciation, amortisation and impairment -4,507 -6,560 -17,928 -24,143
losses
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Change in the fair value of investment -36 -1,240 -36 -1,240
property
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Other expenses -125 -2,245 -378 -4,346
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Total expenses -29,954 -34,387 -109,388 -130,341
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Operating profit (loss) 1,035 -7,322 3,136 -21,533
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Financial income and expenses
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Interest income 106 134 302 575
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Interest expense -140 -276 -694 -1,246
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Foreign exchange loss 32 18 7 203
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Other financial income and expenses -6 -4 -34 -16
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Total financial income and expenses -8 -128 -419 -484
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Profit (loss) before tax 1,027 -7,450 2,717 -22,017
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Income tax expense -1,118 656 -1,618 766
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NET PROFIT (LOSS) FROM CONTINUING -91 -6,794 1,099 -21,251
OPERATIONS FOR THE PERIOD
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NET PROFIT (LOSS) FROM DISCONTINUED 0 2,031 0 -11,679
OPERATIONS FOR THE PERIOD
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NET PROFIT (LOSS) FOR THE PERIOD -91 -4,763 1,099 -32,930
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Other comprehensive profit (loss)
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Currency translation differences
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continuing operations 219 382 715 -920
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discontinued operations 0 -1,867 0 -1,318
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Total other comprehensive profit (loss) 219 -1,485 715 -2,238
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Total comprehensive profit (loss) for the 128 -6,248 1,814 -35,168
period
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Net profit (loss) for the period
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Minority interest -134 -97 -44 -138
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Attributable to equity owners of the
parent
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continuing operations 43 -6,697 1,143 -21,113
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discontinued operations 0 2,031 0 -11,679
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-91 -4,763 1,099 -32,930
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Total comprehensive profit (loss) for the
period
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Minority interest -134 -97 -44 -138
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Attributable to equity owners of the
parent
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continuing operations 262 -6,315 1,858 -22,033
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discontinued operations 0 164 0 -12,997
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128 -6,248 1,814 -35,168
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Continuing operations
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Basic earnings (loss) per share 0.0003 -0.04 0.01 -0.14
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Diluted earnings (loss) per share 0.0003 -0.04 0.01 -0.14
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Discontinued operations
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Basic earnings (loss) per share 0.00 0.013 0.00 -0.08
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Diluted earnings (loss) per share 0.00 0.013 0.00 -0.08
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Further information:
Madis Jääger
CFO
Olympic Entertainment Group AS
Tel + 372 667 1250
E-post: [email protected]
http://www.olympic-casino.com