INTRALOT ANNOUNCES 9Μ2012 FINANCIAL RESULTS- CONTINUOUS GROWTH OF REVENUES & EBITDA
INTRALOT Group today announces its financial results for the nine-month period ending September 30th 2012, prepared in accordance with IFRS.
In 9M12 INTRALOT’s Consolidated Revenues reached €1 bil., posting a 16.9% increase compared to the same period last year. EBITDA reached €117.0m in 9M12 increased by 4.3% compared to 9M11. EBT was €32.6m, compared to €33.0m in 9M2011. EBT net of write-offs, provisions, etc. reached €35.5m.
Cash Flow from Operations increased by 39% in the 9M 2012 period. Net Debt reached €402.5m 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 €101.8m. EBITDA increased by 33.0% to €25.3m from €19.0m in 9M11. Earnings After Taxes (EAT) were €16.5m from €5.1m in 9M11.
Commenting on 9M12 results INTRALOT Group CEO, Mr. 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.”
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 more than 53 countries, with approximately 5.500 people and revenues of €1.2 billion for 2011, INTRALOT has established its presence on all 5 continents.