Intralot reported a robust start in 2012

EBITDA increased by 6.9% to 41.7 million euros, while Earnings Before Taxes (EBT) reached 15.2 million euros, posting a decrease of 6.1%.

The quarter was cash-flow positive as Net Debt dropped by 9.6 million euros in first quarter 2012. Revenues for the parent company increased by 53.9%, to €40.8m. Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) increased to 8.5 million euros from 2.4 million euros in first quarter 2011. Earnings After Taxes (EAT) were 4.5 million euros from 0.1 million euros in first quarter 2011

Commenting on first quarter 2011 results, the group CEO, Constantinos Antonopoulos, stated: “We are pleased with our first quarter results, as the Group continued to grow both on a revenues and EBITDA basis despite the adverse sports betting results that impacted the industry in the period. This strong performance was achieved due to the strong diversification and internationalization of our business, as well as due to the continuous innovations that we have introduced, both at the technological and the operational levels.

The advantages of our selective investments in developed countries, which provide the needed stability to the business and occasionally significant growth opportunities, such as VLTs in Italy, and developing countries, which pose significant growth opportunities, such as sports betting in Azerbaijan, provided a good boost to our results among other well performing projects.

As mentioned a few days ago in our Annual Shareholders’ Meeting, the Group is implementing the “Blue Oceans Strategy”, meaning that we emphasize on innovation and differentiation, we create and set new trends, while expanding and reconstructing market boundaries.”