NOVOMATIC: Rating upgrade ”BB+” by Standard & Poor's with stable outlook
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The international rating agency Standard & Poor's (S&P) evaluates the NOVOMATIC AG Group, which is listed on the Vienna Stock Exchange with bonds, with an upgrade of the rating to “BB+” with a stable outlook in the course of the annual audit of the fiscal year 2022.
Gumpoldskirchen, June 20th, 2023 – In the course of the current rating, Standard & Poor's analyzed the strengths and risks of NOVOMATIC AG in comparison to international competitors and currently rates the Group with a “BB+”. S&P justifies the upgrade of the rating from “BB” to “BB+” with NOVOMATIC's solid operating performance in fiscal year 2022 and the reduction of debt.
Against the backdrop of the recovery in the Gaming Technology and Gaming Operations segments due to the lifting of COVID restrictions in all markets, several acquisitions as part of the international expansion strategy contributed to profit growth in FY 2022. Foremost among these was the acquisition of a majority stake in the Italian HBG Group.
“The improvement in our rating once again confirms not only the success of our dual strategy as a producer and an operator, but also our growth and investment strategy in our core markets. This puts NOVOMATIC among the top credit ratings in Europe and puts it in an excellent 2nd place in global comparison, ahead of other gaming technology groups,” emphasizes NOVOMATIC AG Executive Board Member Johannes Gratzl.
Sustainability commitment awarded many times
NOVOMATIC also received important awards and top ratings in the context of non-financial reporting for its great commitment to sustainability, such as in the Sustainalytics ESG Risk Rating. Recently voted “Best Employer in Lower Austria” by the MARKET Institute, NOVOMATIC is aware of its responsibility towards its employees. With its own training programs, such as a “Corporate Coding Academy” for future developers or a program for the casino managers of tomorrow, the company, which was awarded the title of “Leitbetrieb”, has already received numerous other employer awards, such as the “berufundfamilie” seal of approval from the Ministry of Family Affairs for family-friendly employers or that for “Betriebliche Gesundheitsförderung”.
About NOVOMATIC
The NOVOMATIC AG Group is one of the biggest international producers and operators of gaming technologies and employs around 23,900 staff worldwide. Founded by entrepreneur Professor Johann F. Graf in 1980, the Group exports high-tech electronic gaming equipment and solutions to about 100 countries and has locations in about 50 countries. The Group operates around 214,000 gaming terminals and video lottery terminals (VLTs) in its about 2,100 plus gaming operations as well as via rental concepts.
Through its numerous international subsidiaries, the NOVOMATIC AG Group is fully active in all segments of the gaming industry and thus offers a diversified Omni-channel product portfolio to its partners and clients around the world. This product range includes land-based gaming products and services, management systems and cash management, Online gaming and social gaming solutions as well as sports betting as well as sports betting solutions together with a range of sophisticated ancillary products and services. Find out more at www.novomatic.com
