Codere loses 173 million in 2014, the same as a year earlier … – Yahoo Finance Spain

Codere loses 173 million in 2014, the same as a year earlier … – Yahoo Finance Spain

MADRID, 27 (EUROPA PRESS)

The multinational Codere game lost 173 million euros in 2014, virtually the same as a year earlier , affected by the restructuring process and the costs associated with it, as reported Friday the company to the Comisión Nacional del Mercado de Valores (CNMV).

The gross operating profit (EBITDA) adjusted Codere stood at 213.2 million euros last year, an increase of 1% compared to 2013, while operating income reached 20.8 million euros, compared with 17.2 million loss for the year This is thanks to lower provisions for impairment of assets.

The Ebitda reported, including costs associated with restructuring, decreased 17.6% from 198.4 million euros in 2013-163, 5 million euros in 2014.

In 2014, turnover fell 8.9% to 1,385.6 million euros, mainly due to the devaluation of the Argentine peso against the euro.

In the context of restructuring the company, registered at the close of 2014 investments amounted to 54.2 million euros, of which 36.4 million correspond to maintenance and 17.8 million with growth.

With regard to the process of financial restructuring of Codere, both the company and its creditors continue the work of implementing the ‘Lock up Agreement’ signed on September 23, and in particular, in developing of documents required to start the process of ‘Scheme of Arrangement’

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