Codere, S.A. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported operating revenue of EUR 422.7 million against EUR 395.7 million for the same period a year ago. Operating profit was EUR 25.9 million against EUR 70.3 million for the same period a year ago. Earnings before corporate income taxes were EUR 8.6 million against loss before corporate income taxes of EUR 0.1 million for the same period a year ago. Net loss was EUR 5.5 million against net income of EUR 8.0 million for the same period a year ago. EBIT was EUR 25.9 million against EUR 70.3 million for the same period a year ago. EBITDA was EUR 63.3 million against EUR 45.8 million for the same period a year ago. Adjusted EBITDA was EUR 73.6 million against EUR 65.9 million for the same period a year ago. Adjusted EBITDAR was EUR 104.6 million against EUR 95.8 million for the same period a year ago. Capital expenditures were EUR 43.5 million against EUR 57.2 million for the same period a year ago. For the year, the company reported operating revenue of EUR 1,638.2 million against EUR 1,545.8 million for the same period a year ago. Operating profit was EUR 131.1 million against EUR 108.2 million for the same period a year ago. Earnings before corporate income taxes were EUR 84.0 million against loss before corporate income taxes of EUR 1,116.2 million for the same period a year ago. Net profit was EUR 2.8 million against net loss of EUR 1,121.7 million for the same period a year ago. EBIT was EUR 131.1 million against EUR 108.2 million for the same period a year ago. EBITDA was EUR 246.8 million against EUR 195.9 million for the same period a year ago. Adjusted EBITDA was EUR 273.6 million against EUR 267.7 million for the same period a year ago. Adjusted EBITDAR was EUR 398.7 million against EUR 386.5 million for the same period a year ago. Capital expenditures were EUR 151.3 million against EUR 127.4 million for the same period a year ago. Cash flow from operations in 2017 was EUR 167.5 million, a 6.0% decrease versus EUR 178.2 million in 2016. This decrease is primarily attributable to an increase in the change in working capital and a higher corporate tax paid, partially offset by the increase of EUR 50.9 million in reported EBITDA.