Svenska Spel

Group financial results and position

Revenues

Net gaming revenues amounted to SEK 9,815 million (9,687), up SEK 128 million compared with the preceding year. Higher net gaming revenue was largely attributable to SEK 167 million in increased sales of Lotto and Triss, as well as strong growth of SEK 112 million for Oddset and Tipsen in the Sports Games & Lotteries result area.

Net gaming revenues for the Vegas result area totalled SEK 2,014 million (2,083). Net gaming revenue for the Casino Cosmopol result area totalled SEK 1,186 million (1,203), the decline in which was due to lower revenues for slot machines, despite the number of visitors being on par with the preceding year. An increased interest in online casino games is probably impacting revenues for both the Vegas and Casino Cosmopol result areas.

Net revenues from gaming operations etc., rose SEK 149 million to SEK 8,022 million (7,872), which is related to the increased net gaming revenues.

Operating profit and operating margin

Operating profit for 2012 amounted to SEK 5,083 million (4,940), an increase of SEK 143 million on the preceding year. Operating costs rose by SEK 8 million to SEK 2,968 million (2,960), despite a number of major new investment areas. Costs for consultants declined by SEK 35 million to SEK 119 million (154) and depreciation/amortisation decreased by SEK 16 million to SEK 270 million (286). The operating margin rose to 22.0% (21.9).

Net financial items and earnings

Net financial items totalled SEK 55 million (66). The return on financial investments and cash and cash equivalents amounted to SEK 64 million (57). Of the net financial items, an expense of SEK 6 million (income: 3) pertains to a net value change in Triss Månadsklöver. The Group’s comprehensive income for 2012 was SEK 5,138 million (5,007), which is an increase of SEK 132 million.

Cash flow

Cash flow from operating activities was SEK 5,626 million (5,600). Cash flow from investing activities totalled a negative SEK 1,192 million (neg: 842), of which SEK 124 million (162) pertained to investments in tangible assets. Investments in financial assets amounted to SEK 6,318 million (2,097), and divestments to SEK 5,282 million (1,584). The increase was the result of a more proactive management of the Group’s surplus liquidity. The changes in investments in Triss Månadsklöver amounted to SEK 1 million (neg: 135). Investments in intangible assets totalled SEK 36 million (35). Divestments of tangible assets generated SEK 3 million (4). Cash flow from financing activities amounted to a negative SEK 5,007 million (neg: 4,766) and were attributable to the final adjustment of earnings in 2011 in accordance with a resolution by the AGM. Cash and cash equivalents amounted to SEK 1,693 million (2,264).

Investments

Investments in tangible assets amounted to SEK 124 million (162) and investments in intangible assets totalled SEK 36 million (35). Investments in financial assets amounted to SEK 6,468 million (2,097) and divestments to SEK 5,282 million (1,584). The increase was the result of a more proactive management of the Group’s surplus liquidity.

Financial position

At the end of the period, consolidated equity amounted to SEK 5,138 million (5,007), which, except for share capital and ­statutory reserve, corresponds to earnings for the period. Previous surpluses have been paid in their entirety to the owner, the Swedish State. The equity/assets ratio was 60.0% (61.8).

Parent Company

The Parent Company includes all gaming activities except the Casino Cosmopol result area. Net gaming revenue totalled SEK 8,629 million (8,484). The Parent Company’s share of the total net gaming revenue in the Group was 87.6% (87.6). Net revenues from gaming operations, etc., amounted to SEK 6,760 million (6,589). Operating profit was SEK 4,541 million (4,384).

Investments in tangible and intangible fixed assets totalled SEK 117 million (160). Investments in financial assets amounted to SEK 6,069 million (2,097) and divestments to SEK 5,132 million (1,584).

Employees

The average number of employees was 1,738 (1,774), of whom 57% (57) are men. The average number of employees in the ­Parent Company was 727 (755), of whom 64% (63) are men.

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