INTRALOT ANNOUNCES 2013 FULL YEAR RESULTS: REVENUES EXCEEDED 1.5 BILLION _ EBITDA INCREASE OF 9.7%
INTRALOT, the leading international gaming company, announces today its financial results for the twelve-month period ending December 31st, 2013, prepared in accordance with IFRS.
INTRALOT Group’s Consolidated Revenues for FY2013 increased by 12% compared to FY2012, reaching €1,539.4 billion. Net of a negative FX impact of €80.1m, revenues reached €1,619.5m, posting an increase of 17.9% y-o-y in FY 2013.EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) posted an increase of 9.7% reaching €194.8m. Νet of a negative FX impact of €8.9m, EBITDA reached €203.7m, an increase of 14.7% y-o-y in FY 2013.EBT was shaped at €53,6m. EAT-am(Earnings After Taxes and after minorities) were shaped at €-4.6m and was strongly affected by €10.8m of negative FX differences on an after tax and after minority level plus write-offs and provisions of €13.7m. Excluding such costs the Net Profit would have reached €19.9m in the FY 2013 period.
Cash Flow from Operations reached €81.3m in the 12M, 2013 period. Net Debt in the same period decreased by €30.7m to €397.2m compared to 9M 2013, mainly due to improved operating cash-flow generation and capex easing in the last quarter of 2013. FX impact on cash for FY 2013 was 22.6m.
Revenues for the parent company during FY2013 increased by 8.1%, to €150.9m.EBITDA increased by 5.8% to €23.1m. Earnings After Taxes (EAT) were shaped at €-0.1m.
Commenting on FY2013 results, INTRALOT Group CEO, Mr. Constantinos Antonopoulos, noted: “2013 was an important year for the Group, since we won several new contracts in Europe, Asia and Australia, and we renewed major contracts in the US, Europe and Asia. Moreover, we launched innovative products in the interactive and retail fields, such as the Mobile Lottery, Virtual Games, the Multi-channel Lottery, DreamTouch, iGEM and DeepStack Casino.
In 2013 INTRALOT managed to deliver a strong set of financial results across the board and we are very proud of this. As the CEO of the Group I would like to comment on the future for which we have redefined our key priorities and I would like to focus on our recent internal corporate reorganization, which was performed with the assistance of The Boston Consulting Group.
After many years of enduring success and strong global growth, we have decided to consolidate the company's global operations, products and services and technology, in order to create a more flexible and effective structure.
INTRALOT Group is now organized in four distinct divisions: Global Operations & Sales, Products & Services, Technology and Finance. The new organizational structure focuses on operational excellence, creating synergies between the Headquarters and the Group subsidiaries, while promoting innovation across the company, integrating technology and products and services. Our aim is to meet the needs of our customers, increase shareholder value, create robust financial results, and economies of scale, as we will become more innovative and also capitalize on our existing Global infrastructure and presence.
INTRALOT, being present in 57 jurisdictions and with 84 contracts in its portfolio, is very well placed to capitalize on its existing projects, both in terms of introducing new technologies and new games as well as in terms of obtaining additional contracts. Operating in an industry that constantly evolves, with many opportunities and challenges arising from the business, technological and regulatory changes, we are best positioned to benefit and extract maximum value for our stakeholders. I am confident that the new participatory management structure will bring INTRALOT Group to a new path of growth and success.“
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 5.700 people and revenues of €1,54 billion for 2013, INTRALOT has established its presence on all 5 continents.
For more info:
Ms Persa Kartsoli, Head of Corporate and Public Relations, Phone: +30-210 6156000, Fax: +30-210 6106800, email: email@example.com - www.intralot.com