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Intralot releases nine-month results

Greek firm has posted year-on-year increases in consolidated revenues and earnings with operating cashflow rising by 39 percent.

Thursday 29th November 2012

Gaming and transaction processing systems developer and supplier Intralot SA has released its financial results for the first nine months of 2012 showing a 16.9 percent year-on-year increase in consolidated revenues to €1 billion. Athens-based Intralot revealed that nine-month earnings before interest, tax, depreciation and amortisation hit €117 million, which was a 4.3 percent improvement on the same period last year, although earnings before tax dropped 1.2 percent year-on-year to €32.6 million with net of write-offs and provisions of €35.5 million. The Greek firm stated that its net debt has now reached €402.5 million due to capital expenditure related to ‘the full payment for the renewal of the gaming license in Malta’ while operations cashflow over the nine months rose 39 percent. “In the first nine-month period of 2012, Intralot reported continued growth of its revenues and earnings before interest, tax, depreciation and amortisation despite unfavourable game results that took place in the third quarter of 2012 in the sportsbetting sector and affected our global operations,” said Constantinos Antonopoulos, Chief Executive Officer for Intralot. “Intralot is currently in the process of implementing three major new projects; two video lottery terminal monitoring projects, one in Victoria, Australia, and another in Ohio, United States, plus a sportsbetting project in Germany. These important projects will soon reach full deployment thus enhancing the company’s profitability. “Moreover, cashflow from operations grew by an impressive 39 percent in the first nine months of 2012 denoting our commitment to improving our cashflow generation. “Regarding the expansion of the group’s financial capacity, it is worth mentioning that the payment for the renewal of our operating license in Malta was fully funded by the local subsidiary’s resources; ie through its available cash and local financing that it managed to raise. “Intralot is participating in or monitoring a number of interesting gaming opportunities in the Greek, European and other global markets so as to selectively participate in the most promising ones. At the same time it continues the enrichment of its portfolio with new products and services in various markets where it currently operates such as the introduction of social gaming.”

Source: OnlineCasinoNews

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