Results for 2016 (06.03.2017)
SIA “Alfor” turnover from the organization of gambling has increased by 7.8% compared to the previous reporting year and has reached 65 million EUR. In 2016 the Company has improved its performance and closed the reporting year with a 14.54 million EUR profit.
It was possible to improve the annual revenue by developing the services and improving customer service. In 2016 SIA “Alfor” continued upgrading and improving the existing gambling halls and several gambling halls in Riga, Iecava and Sigulda were completely reconstructed.
In 2016 the number of employees of SIA “Alfor” increased - at the end of 2015 the company employed 896 people, but as at 31 December 2016 the number of employees reached 911.
In 2016 SIA “Alfor” invested a lot of effort in upgrading and optimization of the operation of slot machines, offering more secure services and a wider range of games to the customers of “Fenikss Laimētava” gambling halls.
Improving and updating the range of services, SIA “Alfor” offers more new Novomatic online games on the interactive online gaming site www.feniksscasino.lv. In 2016 the company extended the range of payment options for greater customer convenience.
Taking care of the enjoyment and comfort of the customers, in 2016 SIA “Alfor” brought special attention to improving customer care, building relationships with customers and providing modern services.
At the end of 2016, gambling services are provided in 93 gambling halls with 2 746 slot machines. In the middle of December the fully renovated gambling hall in Iecava, Rīgas iela 20, was put into operation.
In 2015 SIA “Alfor” improved and updated the range of services by launching the interactive gambling site www.feniksscasino.lv, thus, SIA “Alfor” is the only company in Latvia providing the opportunity to officially play the popular Novomatic games online.
At the same time, the company continued to extend the range of slot machines with the most modern gambling equipment and improve the customer service standards, as well as renovated several gambling halls. As at 31 December 2015, gambling services are provided in 93 gambling halls with 2 675 slot machines.
Compared to the previous reporting period of 2015, SIA “Alfor” turnover from the organization of gambling has increased by 13% and reached 60.44 million EUR. In 2015 the Company has improved its performance and closed the reporting year with a 13.19 million EUR profit.
On 13 March 2015 the company completed the reorganization commenced in the previous year by merging SIA “Spēļu nams” and SIA “Alfor”. After the completion of the reorganization an extensive reconstruction was carried out and the gambling hall in Brīvības iela 48/50, Riga was renovated and updated with modern equipment.
In 2014 SIA “Alfor” successfully implemented the necessary measures for transition to new national currency, updated the range of slot machines with the latest gambling technologies, continued to develop and improve customer service standards and renovated several gambling halls. As at 31 December 2014, gambling services are provided in 93 gambling halls with 2 542 slot machines.
The company’s turnover in 2014 increased by 3.4% compared to the previous reporting year reaching 53.49 million EUR. SIA “Alfor” has improved its performance in 2014 and closed the reporting year with a 11.3 million EUR profit.
Improving and updating the range of services, on 28 November 2014 SIA “Alfor” obtained the license for organization of interactive gambling for the site www.feniksscasino.lv which allows organizing gambling on the specific web site.
In 2013 the company carried out the necessary arrangements for the transition of the national currency to euro, updated the range of slot machines with advanced gambling equipment and renovated several gambling halls. As at 31 December 2013, gambling services are provided in 93 gambling halls with 2 484 slot machines. SIA “Alfor” turnover from organization of gambling in 2013 reached 36 344 654 LVL which is at the same level as in the previous reporting year. In 2013 the Company has improved its performance and closed the reporting year with a 6.3 million LVL profit. During the reporting year SIA “Alfor” has made investments in business development in the amount of 5.5 million LVL.
2013 1st half (03.08.2013)
During the first half of 2013 there was a significant drop in the revenue from gambling compared to the second half of the previous year, as well as the corresponding period of the previous year. In the first half of this year the net turnover from gambling decreased by 1.1% compared to the first half of 2012, which is 16.9 LVL according to the operational financial information.
Even though the economic situation and the level of employment in the state has significantly improved since the lowest point of the crisis, the gambling market indicators for the first half of the year and the state macro-economic forecast indicate that there is no reason to expect a rapid increase in consumption. During the second half of 2013 the company will suffer additional costs, to implement the necessary measures and ensure continuous operation of SIA “Alfor” due to the introduction of euro.
In 2012 SIA “Alfor” opened three gambling halls and renovated several existing gambling halls. With an improved public assessment of the economic situation in the state and its development with an increasing employment level, the people have started to devote more funds to entertainment and leisure, which is reflected also in the company’s revenues. SIA “Alfor” turnover from the organization of gambling in 2012 is 36 375 837 LVL which is an 11% increase compared to the previous year.
In 2012 the Company has improved its performance and closed the reporting year with a 6.2 million LVL profit. The company’s 2012 EBITDA is 12 534 987 EUR, which is a 17% increase compared to the previous year. The increased profits allowed the company to fully settle its obligations regarding slot machines and spare parts purchased in the pre-crisis and crisis period.
2012 1st half (25.07.2012)
The net turnover for the first 6 months of 2012 is 17 134 039 LVL which is an 18% increase compared to the corresponding period of the previous year. It should be noted that the revenue from the first half of 2012 did not reach the level of second half of 2011.
In 2012 it is planned to maintain a high quality of customer service, actively work on increasing the company’s revenue by introducing new games and using new and advanced technologies. A significant work will be invested to preserve and improve the position of SIA “Alfor” as a market leader.
During the first half of 2011 there was a significant drop in the revenue from gambling compared to the second half of the previous reporting year. With an improved consumer mood and stabilization of the national economy, in the second half of 2011 the revenue of SIA Alfor increased, reaching the total annual turnover of 32.87 million LVL. Despite the rising prices of utilities and fuel, as well as increased gambling tax rate, SIA Alfor gave more attention to the cost control and in 2011 it managed to improve its results and closed the 2011 with a profit of 3.85 million LVL.
In 2011 the company made investments in business development in the amount of 2.98 million LVL, offering its customers the latest generation of slot machines and improving and renovating the gambling halls.
SIA Alfor market share in 2011 was 35%. As at 31 December 2011, gambling services are provided in 90 gambling halls with 2427 slot machines.
The results of the first half of 2011 show that the company has retained the position of a market leader reaching a 14.47 million LVL turnover which is a 8.8% increase compared to the corresponding period of the previous year. However, comparing the revenue of the first half of this year to the second half of 2010, the turnover has dropped by 10%, thus, it is still too early to talk about any stability or recovery from the crisis.
In the first half of this year the company unfortunately failed to work with profit, despite the continuous cost optimization measures, SIA Alfor suffered losses in the amount of 120 thousand LVL. The results of the first half of 2011 were mainly affected by the tax and price increase, as well as the 14% increase of tax on gambling and lotteries.
In 2010 SIA Alfor worked with a turnover of 29.38 million LVL which is a 0.5% increase compared to the previous reporting year. During the reporting year the company continued to decrease the operating costs and improving efficiency in order to improve the company’s performance, therefore SIA Alfor closed the 2010 with a profit of 1.04 million LVL.
In 2010 the company made investments in business development in the amount of 1.24 million LVL improving and renovating gaming halls and bar equipment.
The company’s performance and financial results in 2011 will depend on the overall economic development and the impact of state budgetary consolidation on the purchasing power of the population. The view of the government on the gambling industry tax policy will be essential, therefore, currently an average of 5% increase of revenue is forecast for 2011 with a 1.1 million LVL profit.
The results of the first half of the year indicate a deepening of crisis, as the turnover continues to fall. The net turnover for the first 6 months of 2010 is 13.3 million LVL which is an 11% drop compared to the corresponding period of the previous year.
While the financial results for the period show a 1.34 million LVL loss, it is important to note that SIA Alfor has managed to maintain a positive cash flow, closing the period with a positive EBITDA in the amount of 3.94 million LVL.
The operation of SIA Alfor in 2009 was significantly affected by the national economic situation, the population’s lack of knowledge about the future and inability to foresee the possible changes of the state taxation policy resulting in a 44% drop of the company’s net turnover in 2009 reaching an annual turnover of 29.24 million LVL. The company closed the 2009 with a 4.2 million LVL loss. The loss for the reporting year resulted from the drastic reduction of revenue, as well as the investment in fixed assets in the previous years, thus, a significant amount of costs was due to asset depreciation. It is important to note that the company closed the 2009 with a positive EBITDA, which amounted to 4.28 million LVL.
In 2010 SIA Alfor plans to continue improving the efficiency, reducing costs, improving the internal processes and functions of the company and improving the quality of the services. The expected revenue in 2010 is approx. 27.9 million LVL and careful work will be carried out to conclude the 2010 without loss.