Intralot announced financial results for the first nine months of 2011

EBITDA reached 112.1 million euros in the first nine months of the year, increased by 2.1% compared to the same period last year. EAT (after minorities prior FX gains/losses, prior write downs) was shaped at 20.9 million euros compared to 21.9 million euros in 2010. EAT (after minorities) was decreased to 10.9 million euros from 37 million euros in the first nine months of 2010. Intralot Group had a positive cash flow at approximately 7 million euros.

Concerning the parent company, revenues in 9M11 were 95.3 million euros from 118.1 million euros in 9M10. EBITDA were shaped at 19 million euros from 32.5 million euros in 9M10 and Earnings After Taxes (EAT) were 5.1 million euros from 27.1 million euros in the same period last year.

Commenting on 9M11 results, Intralot Group CEO, Constantinos Antonopoulos, noted: “In our 9M11 financial results we have managed to further improve our financials and especially our positive cash flow, as promised in the beginning of the year, and at the same time enter into new contracts”.

“Concerning new developments, we have been awarded two significant VLT Electronic Monitoring System contracts, one in Victoria, Australia for the connection of up to 27,500 EGMs  and another in Ohio (with the Ohio Lottery) for up to 17,500 VLTs spread out in 7 racetracks. Both contracts will leverage on our existing operations in the particular regions. Moreover, our online contract with the Idaho State Lottery was extended for at least 3 additional years, while in late October we proceeded with the sale of our minority stake in CyberArts as a result of our decision to focus and invest in our own resources in the interactive industry,” he concluded.