Intralot released its first half financial results

EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) in the first semester were 72.6 million euros, compared to 70.8 million euros in the same period in 2010. EAT (after minorities, prior FX gains/losses, prior write-downs) in first half were increased by 183.0% reaching 18.5 million euros. EAT (after minorities, prior write downs) reached 13.3 million euros, while EAT (after minorities & write-downs) were shaped at 7.5 million euros. In first half 2011, the firm posted a positive cash flow: net debt dropped by 4.5 million euros compared to the year before.

Revenues for the Parent Company in first half this year decreased by 15.5%, to 63.4 million euros. EBITDA decreased by 15.6% to 12.8 million euros from 15.2 million euros in the first six months of 2010 and Earnings After Taxes (EAT) were 3.7 million euros from 20.2 million euros in the same period last year.

Commenting on the results Intralot Group CEO, Constantinos Antonopoulos, noted: “In first half 2011 we have managed to grow the company’s revenues and EBITDA despite difficult comparisons with the six months 2010 results, as the investments the firm has undertaken in the past years have started to pay off.

Intralot is following closely the developments that are taking place in a number of countries and states in Europe (Greece, Germany, Spain, etc.) regarding the liberalization of their gaming markets.

Antonopoulos added that the firm is focusing in certain opportunities in the North American market in the area of VLTs, whereas in Latin America, after the optimization of its portfolio, it continues the good progress in all its projects.

“Finally, in Asia we enhance our efforts to increase our presence in China and utilize our dominant position in the other countries,” Intralot CEO concluded.