INTRALOT ANNOUNCES ITS SIX MONTH PERIOD 2008 RESULTS
INTRALOT S.A., the leading international gaming company, today announces its financial results for the six month period ending June 30th 2008, prepared in accordance with IFRS.
Consolidated Revenues for the period reached €547.5m posting an impressive increase of 44.5% compared to the results of the same period last year. EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) reached €126.7m, increased by 5.1%. Earnings Before Taxes (EBT) recorded an increase of 8.4% y-o-y by reaching €112.4m compared to €103.7m in the first six month period of 2007, while Earnings After Taxes and after minorities (EAT-am) increased by 4.6% y-o-y to €60.3m from €57.6m.
Revenues for the parent company were €98.9m in 1H08, 3.5% lower than 1H07. Earnings Before Taxes (EBT) for the period stood at €43.7m, and Earnings After Taxes (EAT) reached €36.3m.
Commenting on 1H08 results INTRALOT’s CEO, Mr. Constantinos Antonopoulos, noted: “The first half of 2008 was very interesting for INTRALOT since it managed to prevail in a number of significant international tenders: it was awarded one of the three Sports Betting licenses in Madrid, it won a dual lottery contract in the Netherlands and it signed its sixth contract in the US with the Ohio State Lottery, one of the largest US State lotteries. Moreover, the Company won again the very important tender in Turkey regarding the risk management of the Turkish betting game Iddaa for a period of ten years. It also acquired two companies, a video-lottery operator in Slovakia and a company in Italy which owned 55 licenses for sports and horseracing points of sale, further strengthening its strong position in the country’s betting market.
At the same time, it achieved to increase its profits despite the strain that the Euro Championship that took place in June put on the profitability of numerous companies in the sector internationally, the increased contribution of IT sales in the 1H08 of 13.0% vs. 7.5% in the 1H07 and also the considerable start-up and business development costs during the period for setting up new projects in countries such as Italy, Spain (Madrid), the Netherlands, Australia (Victoria) and the US, where the Company is currently implementing 3 new State Lottery projects: New Mexico, South Carolina, Ohio.”
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. Its 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 45 countries, with approximately 4.400 people and revenues of €835,5 m. for 2007, INTRALOT has established its presence on all 5 continents.