Intralot informed revenues increased

EBITDA decreased by 8.2%, to €131.7M. Net of a negative FX impact of €11.6 M EBITDA reached €143.2M in the first nine months of 2014, a marginal decrease of 0.2% year-on-year. EBIT decreased by 13.3%, to €66.2M and was affected by €9.8M of negative FX charges. EBIT net of FX charges reached €76.1M, posting a decrease of 0.5% year-on-year in 9M 2014. EBT decreased by 32.1%, to €27.3M. On an adjusted for FX-basis, EBT would have reached €38.0M, posting a decrease of 5.3% year-on-year through September 2014. Net profit for this period was shaped at a negative €32.1M. 

Cash Flow from Operations reached €45.1m in the 9M 2014 period, remaining largely unchanged compared to the same period in 2013 (€45.5M). Net debt in the first nine months of 2014 was shaped at €401.3M, remaining at the levels of the first six months of 2014 (€401.1M), while Capex for through September  2014 reached €42.8M.

Regarding the parent company, Revenues for the period decreased by 37.3%, to €64.M. EBITDA decreased by 64.8% to €15.0M from €42.7M in the first nine months of 2013, while Earnings After Taxes (EAT) decreased to €-7.4M from €30.8M in the first nine months of 2013. 

Commenting on results from the first nine months of 2014, Intralot Group CEO, Constantinos Antonopoulos, noted: “In the first 9 months of 2014, major existing projects in the US, Australia and Asia were extended and new ones are being successfully implemented. While the gaming industry undergoes consolidation, Intralot keeps focusing strongly on the lottery sector, its technological superiority and organic growth as we have done over the past few years." 

"The Group is making great technological leaps in order to offer innovative products and services to its customers, both on a B2B and a B2C basis. Moreover, we are in the process of taking actions in certain projects around the world in order to improve the Group’s financial performance in the near future. From a financial stand point, the Group continued to grow its sales, maintained its EBITDA profit before any foreign exchange impact and stabilized its net debt position.”