INTRALOT 1H13 FINANCIAL RESULTS: 20% EBITDA INCREASE
INTRALOT S.A., the leading international gaming company, today announces its financial results for the six month period ending June 30th 2013, prepared in accordance with IFRS.
Consolidated Revenues posted an increase of 4.3% reaching €717.2m in 1H13 compared to €687.3m in 1H12. EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) in 1H13 increased by 19.9% to €97.6m, compared to €81.4m in the same period in 2012. EBT were shaped at 25.7m from €29.5m in 1H2012 due to negative FX charges of €7.6m in 1H2013 compared to positive of €3.0m in 1H2012. EAT (after minorities) in 1H13 were shaped at €2.6m from €5.5m in 1H2012.
Revenues for the Parent Company in 1H13 decreased by 25.0%, to €55.6m, EBITDA decreased by 7.7% to €18.9m and Earnings After Taxes (EAT) decreased by 39.5%, to €11.3m.
Commenting on the 1H13 Results INTRALOT Group CEO, Mr. Constantinos Antonopoulos, noted: “We are very pleased with INTRALOT’s results in the first half of the year during which the Company achieved an approximate 4% increase of revenues and continued to post significant growth of EBITDA, which increased by 20%, despite a tough comparison with 1H2012 during which the European National Team Championship took place. The continued improvement of our EBITDA margins reflects our strategy to strengthen the profitability of our existing projects and the contribution of new projects such as the VLT monitoring system in Victoria and sports betting in Azerbaijan.
In early August, the Company successfully completed the process of issuing a 5-year bond of 325 million euro, which strongly improves the debt expiration profile of the Group. We decided to upsize the amount of the transaction from 300 million due to the strong demand by investors, which led to an oversubscription of four times.
Regarding recent developments related to our project portfolio, starting with Taiwan, the JV in which we are the largest shareholder was selected as the lottery IT system provider by ChinaTrust Bank, the operator of the Public Welfare Lottery in the country, for another 10 years. In addition, in Taiwan our JV was recently selected to provide Sports betting technology and related services. In South Korea, the NANUM LOTTO consortium, in which the Company participates, was selected as the preferred bidder to operate the National Lottery. In Ohio, the State Lottery extended for additional 2 years our contracts to provide gaming system services and instant ticket cooperative services. Also, the State Lottery announced an additional 2 year extension option until 2021 to our current contracts. In Tasmania, Australia we renewed for another 5 years our license to operate games in the State, and in Poland, INTRALOT received a 6-year Internet betting license from the Polish Ministry of Finance. Recently, the Company agreed to acquire a stake in Bilyoner that would lead it to take over the majority of the company. Finally, in Greece, we signed with OPAP S.A. contracts for the provision of a new central system and maintenance and support services to the organization and its POS network. Moreover, Hellenic Lotteries S.A., a company in which INTRALOT participates with OPAP S.A. and Scientific Games, signed a 12-year exclusive license for the operation of Instant and Passive Tickets. INTRALOT has also signed supply contracts with Hellenic Lotteries.
As a closing remark, I would like to repeat our continuous target to improve the profitability and cash flow generation of our existing projects, a process that will be also enhanced through our commitment to continuous innovation as depicted in the two latest innovations we introduced: TAPP IT!, a series of new interactive games offered at POSs that enhances further players’ experience, and Dreamtouch, the ultimate player self service station for selling a variety of gaming products that thanks to its large integrated display touch screen it can also serve as a communication medium and a great product display.”
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 56 jurisdictions, more than 5.500 people and revenues of €1.4 billion for 2012, INTRALOT has established its presence on all 5 continents.