PAF closes a good financial 2019 year with relevant objectives met in the field of responsible gaming
In addition to a good year in financial matters, with increases in operating profit, income and activity, the advances that have been known after the publication of the PAF Group Annual Report indicate that 2019 was also a great year in terms of responsible gaming and CSR.
As always, PAF announces its financial results, sow good, with the positive actions it has been able to take thanks to this benefit. Undoubtedly, an example to follow when communicating the results of gaming companies in general where CSR and Responsible Gaming are the pillars on which it must be sustained.
In addition to having stood out for actions such as dedicating its 2019 dividend (40 million euros) to mitigate the effects of the Covid-19 crisis and for greatly reducing the role that its VIP players have in the company's income statement (reducing for the second consecutive year the volume of bets generated by its most loyal players), PAF has turned its 2019 year into a very remarkable period.
First of in the financial results field, the company based in the Äland Islands, continues to work to improve its results in the framework of sustainability and under the criterion of reinvesting its benefits in charitable and social actions. Thus, PAF increased the Group's turnover by 111.8 million euros. Higher average activity and customer turnover among the different products were also reported, something that is mainly due to a greater number of active customers despite the fact that the number of customers classified as VIP decreased dramatically as a result of gaming policies. responsible for reducing the participation of these players in the company's income.
Operating profit for the Paf Group increased from € 24.7 million to € 26.2 million. The result of the accounting period increased from 24.6 million to 25.6 million euros.
It is also noted that the company joined the Swiss online gaming market and a total of € 21 million was distributed for the benefit of society.
But if the 2019 PAF Annual Report stands out for something, it is due to factors that show the company's social commitment; with important advances in the fight against climate impact. And it is that we remember that Paf was founded by the Red Cross, Save the Children, Public Health in Åland and a children's foundation (then called Stiftelsen Dagens Barn) in 1966. Paf's profits have been distributed for the benefit of society throughout our long story. Last year, € 21 million in the form of Paf funds was distributed to a variety of recipients: "Without these Paf funds, we would not be able to carry out our important work as we do today," says Dag Lindholm, COO, in the annual report. of the Åland Maritime Rescue Society.
Regarding Paf's entry into Switzerland, it is highlighted that the local partner is the prestigious Swiss Grand Casino Luzern. "Paf has become our strategic know-how partner with the right technology. They have pioneered online gaming and we believe that Paf can provide us with the experience and innovation necessary to quickly establish a successful online casino in the Swiss market, "says Wolfgang Bliem, CEO of Grand Casino Lucerne.
Regarding the fight against climate change, it should be noted that "Paf's operations in 2019 resulted in a total of 1,455 tons of CO2e, which represents a decrease of 23.3% compared to 2018. The main reason for the reduction is a decrease in the number of air travel, from 3807 in 2018 to 3119 in 2019.
“For some years now, we have chosen to offset our climate impact in full. This year, we are doing this by supporting the Bhilwara solar energy project in India. This project is led by the Finnish energy company Fortum, "says Paf's director of sustainability and deputy chief executive, Daniela Johansson.
Source and Full-Report: PAF
