Intralot announced financial results for the first nine months of the year

2012-11-29

Reading time 1:38 min

(Greece).- Intralot Group announced its financial results for the nine-month period ending last September 30th, prepared in accordance with IFRS. In the first nine months of the year, Consolidated Revenues reached 1 billion euros, posting a 16.9% increase compared to the same period last year. It also experimented a substantial increase of operationg cash flow.

EBITDA reached 117 million euros in 9M12 increased by 4.3% compared to the same period last year. EBT was 32.6 million euros, compared to 33 million euros last year. EBT net of write-offs, provisions, etc. reached 35.5 million euros.

Cash Flow from Operations increased by 39% in the 9M 2012 period. Net Debt reached 402.5 million euros in 9M 2012, mainly affected by capex related to the full payment for the renewal of the gaming license in Malta.

Concerning the parent company, revenues for the period increased by 6.8%, to 101.8 millione euros. EBITDA increased by 33% to 25.3 million euros from 19 million euros in 9M11. Earnings After Taxes (EAT) were 16.5 million euros from 5.1 million euros in 9M11.

Commenting on 9M12 results, Intralot Group CEO, Constantinos Antonopoulos, noted: “In the first nine-month period of 2012, INTRALOT reported continued growth of its revenues and EBITDA, despite unfavorable game results that took place in Q3 2012 in the sports betting sector and affected our global operations.

The Intralot Group is currently in the process of implementing three major new projects: two VLT monitoring projects; one in Victoria, Australia and another in Ohio, US, plus a sports betting project in Germany. These important projects will soon reach full deployment, thus enhancing the Company’s profitability.

Moreover, cash flow from operations grew by an impressive 40% in the 9M 2012 period, denoting our commitment to improving our cash flow 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, i.e. 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,” he concluded.