INTRALOT ANNOUNCES 9Μ2014 FINANCIAL RESULTS STRONG INCREASE OF REVENUES STABLE OPERATIONAL PROFITS
INTRALOT Group today announces its financial results for the nine-month period ending September 30th 2014, prepared in accordance with IFRS.
In 9M14 INTRALOT’s Consolidated Revenues grew by 23.1%, to €1,329.5m, an increase of €249.5m. Net of a negative FX impact of €80.9m, revenues reached €1,410.4m, posting an increase of 30.6% y-o-y in 9M 2014.
EBITDA decreased by 8.2%, to €131.7m. Net of a negative FX impact of €11.6m, EBITDA reached €143.2m in 9M 2014, a marginal decrease of 0.2% y-o-y. EBIT decreased by 13.3%, to €66.2m and was affected by €9.8m of negative FX charges. EBIT net of FX charges reached €76.1m, posting a decrease of 0.5% y-o-y in 9M 2014. EBT decreased by 32.1%, to €27.3m. On an adjusted for FX-basis, EBT would have reached €38.0m, posting a decrease of 5.3% y-o-y in 9M 2014. Net profit for the period was shaped at a negative €32.1m.
Cash Flow from Operations reached €45.1m in the 9M 2014 period, remaining largely unchanged compared to the same period of 2013 (€45.5m). Net Debt in the 9M 2014 period was shaped at €401.3m, remaining at the levels of the 6M 2014 period (€401.1 m), while Capex for the 9M 2014 period reached €42.8m.
Concerning the parent company, Revenues for the period decreased by 37.3%, to €64.5m. EBITDA decreased by 64.8% to €15.0m from €42.7m in 9M 2013, while Earnings After Taxes (EAT) decreased to €-7.4m from €30.8m in 9M 2013.
Commenting on 9M14 results INTRALOT Group CEO, Mr. Constantinos Antonopoulos, noted: “In the first 9-months of 2014 major existing projects in the US, Australia and Asia were extended and new ones are being successfully implemented.
While the gaming industry undergoes consolidation, INTRALOT keeps focusing strongly on the lottery sector, its technological superiority and organic growth as we have done over the past years. The Group is making great technological leaps in order to offer innovative products and services to its customers, both on a B2B and a B2C basis. Moreover, we are in the process of taking actions in certain projects around the world in order to improve the Group’s financial performance in the near future.
From a financial stand point, the Group continued to grow its sales, maintained its EBITDA profit before any foreign exchange impact and stabilized its net debt position.”
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.