Groupe Partouche losses increase as turnover falls in H1

The company also experienced a substantial drop in turnover for the half, with €47.2m recorded down from €183.6m in 2020 – a 74.3% decrease.

Costs generally decreased when compared to last year’s results. Purchases and external charges fell 10.9% to €60.6m, staff costs were 57.2% less (€31.5m), whilst dues and taxes amounted to €5.6m.

Other current operating income and expenses generated €5.9m, thanks in part to a €10.0m fixed cost aid from the government in the wake of the novel coronavirus (Covid-19) pandemic.

Operating income was an €81.8m loss overall – €73.2m of which came from current operating income and €8.6m coming from non-current operating income. Taxes (income and business) were a €4.0m expense.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) dropped to a €42.0m loss from €29.8m in earnings in H1 2020.

Most of Partouche’s activities were halted by coronavirus restrictions during the first half of the year. The only exceptions were Tunisia’s Casino of Djerba (open with curfews in place), Meryin Casino and Crans-Montana in Switzerland which re-opened on 19 April, online gaming and sports betting in Belgium and online gaming in Switzerland.