Novomatic AG

EANS-News: NOVOMATIC results for the first half of 2011: strong revenue growth, acquisitions strengthen position on core markets

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6-month report

Gumpoldskirchen (euro adhoc) - NOVOMATIC results for the first half of 2011:
strong revenue growth, acquisitions strengthen position on core markets

- Revenues substantially increased by 17% to EUR 655m, EBITDA by 4.7% to EUR 
  226m, EBIT of EUR 109m at previous year´s level

- Solid cash flow from operating activities of EUR 134m, Free cash flow of
  EUR 26m

- Acquisitions in Germany, Italy, Austria and the UK strengthen position on
  these markets

- Outlook: substantial revenue growth for full-year 2011 expected

NOVOMATIC in the first half year 2011

The NOVOMATIC Group was able to stay on the path of growth in the first half of
2011. Compared to the first half year of 2010, consolidated revenues increased
by 17% to EUR 654.7m. The increase in revenues stemmed primarily from rises in
the proceeds from proprietary gaming operations, from the other activities
segment (online gaming) and from rentals. It was primarily our core market of
Italy, which is increasingly gaining in importance that accounted for the
increase registered by the rentals segment. Earnings before depreciation
(EBITDA) reached EUR 225.7m. Operating results (EBIT) amounted to EUR 108.6m -
similar to the previous year. The EBIT margin reached 16.6%. Earnings for the
period amounted to EUR 52.8m, a decrease of 7.8% over the same period in the
previous year. This drop was mainly due to the increase in financial expenses
associated with the complete takeover of online subsidiary Greentube. By
excluding this one-time effect, earnings come to EUR 67.8m, 18.3% above the
results of the previous year. The average number of employees rose by 13.4% to
11,493, of which more than 2,500 are based in Austria.

in EUR m               H1 2011       H1 2010     change  
Revenues               654.7         559.6       +17.0%         
EBITDA                 225.7         215.6       +4.7%          
EBITDA margin          34.5%         38.5%        -              
EBIT                   108.6         108.9       -0.3%          
EBIT margin            16.6%         19.5%        -              
Earnings for period    52.8          57.3        -7.8%          

"We have managed to substantially increase our group revenues. Our EBIT margin
of 16.6% shows the remarkable profitability of our operations. The acquisitions
realized this year have, in addition, further strengthened our position on our
core markets of Germany, Italy and Austria. This is why I look ahead with
optimism," comments NOVOMATIC CEO Dr. Franz Wohlfahrt on the results for the
first half-year 2011.


Spielbank Berlin, Germany:

The acquisition of 92.04% in Spielbank Berlin in January 2011 strengthened
NOVOMATIC´s position on the German market. Spielbank Berlin has one of the
largest revenues among German operators of live game casinos.

G.Matica, Italy:
In July 2011 NOVOMATIC increased its stake in G.Matica, one of the ten
concessionaires for Video Lottery Terminals in Italy. The NOVOMATIC Group now
owns a majority stake of 80.94%. G.Matica holds concessions for 2,236 Video
Lottery Terminals (VLTs).

NOVOMATIC is the largest supplier of Video Lottery Terminals in Italy. By the
end of this year, about 10,000 of these terminals will be installed for the
various concessionaires in the country. The further rollout is planned to serve
as a basis for sustainable growth on this market in the next years.

Greentube, Austria:
In August 2011 NOVOMATIC acquired the remaining 30% of Greentube Internet
Entertainment Solutions GmbH and is now 100% owned by NOVOMATIC. Greentube is a
company based in Vienna. It provides content to licensed B2B customers.

Empire Games Ltd, United Kingdom:
In January 2011, NOVOMATIC took over 70% of the shares of Empire Games, a
developer and manufacturer of gaming devices in the United Kingdom.


The NOVOMATIC Group assumes that the positive development of its business in
Germany and in Italy will continue. In order to exploit further market
opportunities, the company is planning to take part in a partial tender for a
total of 15 casino concessions ("casino licenses") for Austria and in one for
automat licenses in the country´s states.

The revenue growth achieved in 2011 is largely based on increases in the gaming
operations, other activities (online gaming) as well as rental segments. We
expect to achieve substantial revenue growth in 2011 as a whole.

The ongoing rollout of the Video Lottery Terminals and of the related networks
in Italy has become a priority for NOVOMATIC. A goodly portion of the
investments is foreseen for Italy. NOVOMATIC expects its Italian subsidiaries
to achieve further growth in revenues and earnings.


The NOVOMATIC Group is one of the largest producers and operators of gaming
technologies and facilities, and is thus one of the world´s largest integrated
gaming groups. The Group has more than 11,000 employees worldwide. Of these,
more than 2,500 are based in Austria. Founded in 1980 by Johann F. Graf, an
industrialist, the group has facilities in 31 countries, and produces high-tech
gaming automats and multiplayer devices. These are exported to 73 countries. The
Group´s 200 betting outlets in Austria give it one of the country´s largest
networks of parlors for the betting on sporting events. NOVOMATIC operates in
some 1,000 proprietary electronic automat and live game casinos and rents (via
leasing models) a total of more than 160,000 gaming automats.

Further inquiry note:
Dr. Hannes Reichmann
Head of Corporate Communications
Telephone: +43 (0) 2252 606-680

Investor Relations:
Stefan Marin
Head of Investor Relations
Telephone: +43 (0) 2252 606-781

end of announcement                               euro adhoc 

company:     Novomatic AG
             Wiener Straße  158
             A-2352 Gumpoldskirchen
phone:       +43 (0)2252 606
FAX:         +43 (0)2252 62208
sector:      Semiconductors & active components
ISIN:        AT0000492962, AT0000A0G3Z9 // AT0000A0KSM6
stockmarkets: Regulated free trade: Wien 
language:   English

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