INTRALOT ANNOUNCES ITS 1ST QUARTER 2006
INTRALOT SA today announces its financial results for the three-month period, ending March 31st, 2006, prepared in accordance with IFRS. INTRALOT achieved to sustain a high growth rate both in its revenues and profits, as follows:
Consolidated Revenues for the period reached €179.8m, posting a 75.1% increase compared to 1Q05. EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) increased by 99.0% to €71.8m, compared to the same period last year. Earnings Before Taxes (EBT) recorded an increase of 71.6% y-o-y by reaching €65.6m compared to €38.3m in 1Q05. Earnings After Taxes and after minorities (EAT-am) increased by 31.3% y-o-y to €24.0m from €18.3m in 1Q05. Total International Revenues for the INTRALOT Group amounted to €137.0m, or 76.2% of total Group sales, compared with €73.9m, or 72% of total Group sales in 1Q05. International operations contributed a total of €47.6m or 72.5% to group EBT.
Revenues for the parent company increased to €41.3m in 1Q06, 59.6% higher y-o-y (1Q05: €25.9m). Earnings Before Taxes (EBT) reached €16.0m in 1Q06, posting a 27.5% y-o-y increase, while Earnings After Taxes (EAT) reached €9.8m in 1Q06, posting a 43.3% y-o-y increase.
Commenting on 1Q06 results INTRALOT’s CEO, Mr, Constantinos Antonopoulos, noted: “It is our strong belief that 2006 will be a very important year for INTRALOT in terms of continuing growth and expansion - which is already evident in our 1Q06 results which prove that the course of our company within the international market makes INTRALOT a leader.
Our company’s establishment on a global basis and the fact that we are a one-stop-shop for the needs of State Lotteries around the world are expected to continue driving our growth in the future in order to deliver value to all our clients, shareholders, collaborators and employees who trust us. Our commitment is to use this trust as the fuel in our effort for accomplishing new and more demanding business and social ventures”.
One of the year’s highlights is that international operations have started to absorb the initial start-up costs and are delivering improved results (72,5% to group EBT for 1Q06), which is apparent in the rising profitability margins of 1Q06 and the company’s full-year guidance for 2006. This fact is very important given that “Pame Stihima” in Greece has exhibited a very strong rebound as sales increased by 60,8%, after the successful changes implemented in cooperation with OPAP. Similar sports betting games have experienced strong growth in a number of countries where INTRALOT operates and are expected to gain even more ground due to the World Cup championship in Germany.
Moreover, INTRALOT is expanding its presence in the significant Australasian region, which is considered to be key to the company’s future growth. Due to the increased importance and the prospects of this region, INTRALOT has recently established 2 HUBs of operations in Australia and Hong Kong, and has recruited highly experienced executives from the industry to run our business in the region.
INTRALOT, a public company listed on the ASE, is a leading supplier of integrated gaming and transaction processing systems, innovative game content and value added services to state-licensed gaming organizations worldwide. It’s broad portfolio of products & services, its know-how of Lottery, Betting & Video Lottery operations, its experience in sports games and its leading-edge technology, give INTRALOT a competitive advantage, which contributes directly to customers’ efficiency, profitability and growth. With 37 subsidiaries, 8 business offices, 3,000 people and revenues of € 523 million for 2005 and €700(?) for 2006, INTRALOT’s footprint straddles five continents.