Intralot announces 2012 full year results

EAT-am (Earnings After Taxes and after minorities) were shaped at 6.1 million euros from 17.7 million euros in 2011. Adjusted EAT- am reached 16.5 million euros from 23.6 million euros in 2011. Cash Flow from Operations increased by 39% in the FY2012 period reaching 114 million euros.

In 4Q2012, Consolidated Revenues increased by 7.9% reaching 373.1 million euros compared to 4Q2011. EBITDA grew by 45.3% shaped at 60.5 million euros. EBT increased by 7.5% reaching 25.9 million euros.

Revenues for the parent company during FY2012 increased by 6%, to 139.6 million euros. EBITDA increased by 13% to 21.9 million euros and Earnings After Taxes (EAT) increased by 85.5%, to 3 million euros.

Commenting on FY2012 results, Intralot Group CEO, Constantinos Antonopoulos, noted: “In Fiscal Year 2012 Intralot managed to deliver a strong set of financial results across the board, with revenues and EBITDA growing by 15% compared to 2011, following a robust growth of EBITDA by 45% in the fourth quarter of 2012. Moreover, cash flow from operations increased by an impressive 39% to 114 million euros in 2012.”

“In 2012, we had some significant business developments: Starting with our operations in Europe, we managed to win again a 10-year concession, this time, for the operation of the national lottery of Malta, retaining our presence in one of our most important markets. Moreover, in cooperation with SGI we will enter the German sports betting market, one of the largest globally, he added.

In Greece, where significant reforms in the gaming market are taking place, the consortium in which Intralot is participating, was selected as the winning bidder for the acquisition of the exclusive 12-year concession to operate Hellenic Lotteries. Intralot is also participating in the process of the sale of a 33% stake in OPAP from the HRADF and will also participate in the privatization of the Hellenic Horse Racing Company license.

”Also, in the important gaming market of Italy we have recently obtained a 10-year concession to operate AWP and VLT machines. Recently the finalization of the agreement following an international tender regarding the provision of the IT infrastructure and related services for OPAP’s central IT system was announced, which is pending approval by the latter’s shareholders. Continuing on to the Americas, in the US, the company started the operation of the important VLT monitoring system in Ohio and obtained a 3-year extension of its contract in Idaho, until 2017. Moving on to the Caribbean and Latam region, our company in Jamaica accomplished a 77% growth in profits in 2012 and we managed to enter the interesting gaming market of Mexico. Our subsidiaries in Peru and Brazil continued growing their business and in Argentina we managed to extend 2 State lottery contracts. In the Australasian region, starting with Taiwan, the consortia which were supported by Intralot have won both the processes for the Lottery and the sports betting contracts. Moreover, we started operating the very significant VLT monitoring project in Victoria, Australia.  Last, but not least, we proceeded to the close down of our betting operations in Madrid, following our strategy to eliminate under-performing projects,” Antonopoulos assured.

“Concerning our financial capacity, in the middle of 2012, amid a very difficult economic environment, we managed to extend our Syndicated Loan for two additional years until December 2014 with competitive financial terms, thanks to financial soundness and international diversification. Currently we are working towards the refinancing of our convertible bond loan, which expires in December, 2013.

Intralot, having established a leading position in the gaming sector worldwide and with a highly diversified portfolio of projects has proven to have a flexible and resilient business model. We will continue to work hard in the next years to develop further the company based on this proven business model, as numerous opportunities but also challenges are expected to arise in the global gaming market,” he concluded.