Business News

HIT Generates EUR 8.3M EBIT in 2011

Nova Gorica, 03 February (STA) - Gaming company HIT generated EUR 166.2m in gross revenues in 2011, which is 2% less than planned and 3% less than the year before. However, earnings before interest and taxes (EBIT) in 2011 stood at EUR 8.3m, which is 12.5m more than in 2010.

According to the results, which were confirmed on Friday by the company's supervisors along with the plans for this year, HIT paid EUR 43m in gaming taxes in 2011 and repaid EUR 12m of its debts.

HIT casinos welcomed almost 1.3 million visitors, and the company's hospitality branch recorded a 8.4% growth in overnight stays.

The company's management is happy with the results in the view of the economic situation in the eurozone, especially its main market, Italy.

With roughly the same number of visitors, HIT plans to make EUR 168.5m in revenues and a profit of some EUR 2.9m in 2012.

To counter the negative impact of the continuing crisis, the management will continue to cut on the costs, improve marketing activities, the quality of services and customer relations; however, the main goal will be a stabilisation of the company and a successful conclusion of the three-year restructuring.

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