INTRALOT: INCREASED EARNINGS - IMPRESSIVE INTERNATIONAL EXPANSION
INTRALOT SA today announces its financial results for the nine-month period ending September 30th 2007, prepared in accordance with IFRS.
Consolidated Revenues for the period reached €568.7m (9M06:€572.8m). EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) reached €179.9 m (€185.6m in 9M06). Earnings Before Taxes (EBT) €152.5m, compared (€172.5m in 9M06). Earnings after Taxes and after minorities (EAT-am) increased by 4.2% y-o-y to €85.5m, from €82.0m in 9M06.
International Revenues for the INTRALOT Group amounted to €492m, or 86.5% of total Group turnover compared to 73.4% in 9M06.
Concerning the parent company, revenues reached to €135.9m in 9M07, (9M06: €169.2m). EBITDA were €55.6m from €89.1m in 9M06. Earnings Before Taxes (EBT) reached €96.9m in 9M07, posting a 8.7% y-o-y increase (9M06: 89.1m), while Earnings After Taxes (EAT) reached €82.6m in 9M07 posting a 35% y-o-y increase (€61.2m in 9M06).
Commenting on the above results INTRALOT’s CEO, Mr. Constantinos Antonopoulos, stated: «The results for the nine month period of 2007 were very successful for INTRALOT since the Company managed to grow net profits during this period, although it had a hard comparison due to the Football Word Cup that took place in Q2 and Q3 last year and despite the fact that the Company has encountered increased set up costs by major contracts that are in the implementation or start-up phase.
Since our last conference call, INTRALOT further expanded its presence in the Australian market by winning a 10-year license in Victoria to operate lottery and instant games, opening a market after a 54-year monopoly. The company also strengthened its position in the US market by signing its fourth contract with the New Mexico Lottery. Moreover, INTRALOT commenced operations in South Africa, successfully overcoming a legal dispute caused by a competitor.
The Company, taking steps towards a more efficient capital structure, launched with major financial institutions a €300 million syndicated revolving credit facility (RCF) for the refinancing of existing indebtedness, potential acquisitions and investments in different projects. The RCF is expected to be completed within the next few weeks.
Moreover, the Company will distribute an interim dividend of €0.15 per share (€0.30 before the stock split), despite high start-up costs weighing on results this year and increased capex needs for numerous projects.
Finally, the Company recently proceeded to a stock split, which is indicative of management’s expectations regarding the future of the Company and the significant opportunities that lie ahead in the sector.”
INTRALOT, a public listed company, is the leading supplier of integrated gaming and transaction processing systems, innovative game content and sports betting management, to state-licensed gaming organizations worldwide. It’s broad portfolio of products & services, its know-how of Lottery, Betting & 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 over than 40 countries, with more than 3,800 people and revenues of €791,4 m. for 2006, INTRALOT has established its presence in all 5 continents.