INTRALOT: 1H14 FINANCIAL - RESULTS STRONG SALES GROWTH & RESILIENT EBITDA ROBUST CASH FLOW
INTRALOT S.A., the leading international gaming company, today announces its financial results for the six month period ending June 30th 2014, prepared in accordance with IFRS.
Consolidated Revenues posted an increase of 26.3% reaching €905.5m in 1H14 compared to €717.2m in 1H13. On a constant currency basis, net of a negative FX impact of €63.8m, revenues reached €969.3m, posting an increase of 35.1% y-o-y in 1H14. EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) in the first 6 months where shaped at €89.5m, compared to €97.7m in the same period in 2013. Net of a negative FX impact of €8.6m, EBITDA reached €98.1m in 1H14, an increase of 0.4% compared to the same period of 2013. EBT reached 20.2m from €25.7m in 1H13. On a constant currency basis, net of a negative FX impact of €8.0m, EBT reached €28.2m, posting an increase of 9.9% y-o-y in 1H14. EAT (after minorities) in 1H14 were shaped at -€24.1m.
Cash Flow from Operations reached €32.5m in the 6M 2014 period, posting an increase of 16.0% compared to the same period of 2013 due to operational efficiencies that are being deployed.
Revenues for the Parent Company in 1H14 were €47.9m, EBITDA reached €16m and Earnings After Taxes (EAT) where shaped at a negative €3.3m.
Commenting on the 1H14 Results INTRALOT Group CEO, Mr. Constantinos Antonopoulos, noted: “As we have completed the first half of the FY 2014 period, we are very satisfied to have extended the duration of five of our existing contracts in North America, Australia and Asia and added a new major contract in the US. As we have mentioned in the recent past, these developments follow on the steps of our strategy to capitalize on our presence in existing jurisdictions. From a financial stand point, the Group posted in the second quarter a significant growth in operating cash-flow generation and a decrease of its net debt. Furthermore, the refinancing of our syndicated loan extended the Group’s debt maturities as we have no refinancing issues for at least the next three years, confirming the banking sector’s trust and support towards our strategy and business outlook.”
INTRALOT, a public listed company, is the leading supplier of integrated gaming and transaction processing systems, innovative game content, sports betting management and interactive gaming services to state-licensed gaming organizations worldwide. Its broad portfolio of products & services, its know-how of Lottery, Betting, Racing & Video Lottery operations and its leading-edge technology, give INTRALOT a competitive advantage, which contributes directly to customers’ efficiency, profitability and growth. With presence in 57 jurisdictions, more than 5.500 people and revenues of €1,54 billion for 2013, INTRALOT has established its presence on all 5 continents.