Intralot sees climbing revenue in Q3

Following is the overview of the Report released by the company this week:

Group Revenues increased by 7.0% in 9M16 (+19.5% in constant currency) attributed to the combined outcome of increased competition in the sports betting market in Bulgaria and Eurobet’s first time consolidation, which resulted in boosting revenue growth by 16.2% in 3Q16 (+28.9% in constant currency). On a LTM basis revenue grew by 3.6%.

EBITDA in the 9M16 period grew moderately by 2.4% (+16.6% in constant currency), with a margin contraction of just 58bps, absorbing a 374bps increase in the payout ratio. In 3Q16 EBITDA decreased by 14.3% (-1.8% in constant currency), as a result of approx. €7m shortfall in the Parent company, driven by increased efforts related to new projects and product development, M&A transaction costs and timing effects of 3Q15 compared to 3Q16.

Intralot issued in September a 5-year, €250m, 6.75% coupon bond to refinance its 2018, 325m, 9.750% coupon bond, reducing significantly debt servicing costs.

In November, 80% of our operations in Peru were transferred to NG Entertainment Peru S.A.C. and the Group received a cash consideration of 68.7m USD.

Net debt in the 3rd quarter increased by €23.0m to €533.8m, due to third party dividends distribution of €9.5m to joint venture partners, M&A activities of €10.0m and negative FX of €1.8m.

New products and services that have been recently developed and installed to various clients include:

• Self Service Terminals (SST) for autonomous play with advanced payments methods
• Canvas CMS solution with additional verticals (Casino and e-Instants) supporting social marketing integration
• Native Mobile Betting applications (iOS, Android) with real money gaming
• Remote Gaming Server new release with significant architectural enhancements for better performance and support of Slot Games