Codere, S.A. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides CapEx Guidance for the year 2018
For the six months, the company reported operating revenue of EUR 759.3 million as compared to EUR 814.5 million for the same period last year. Operating Profit was EUR 51.9 million as compared to EUR 64.5 million for the same period last year. Loss before Corporate Income Taxes was EUR 3.5 million as compared to earnings of EUR 50.2 million for the same period last year. Net loss was EUR 34.1 million as compared to EUR 0.5 million for the same period last year. EBITDA was EUR 109.0 million as compared to EUR 121.0 million for the same period last year. Adjusted EBITDA was EUR 132.9 million as compared to EUR 131.5 million for the same period last year. Adjusted EBITDAR was EUR 191.0 million as compared to EUR 194.1 million for the same period last year. Cash Flow from Operations was EUR 82.4 million as compared to EUR 85.6 million for the same period last year. Capital Expenditures were EUR 57.1 million as compared to EUR 71.7 million for the same period last year.
The company expects maintenance CapEx of EUR 75 million to EUR 80 million for the year 2018.