INTRALOT: RAPID EXPANSION OF INTERNATIONAL OPERATIONS – € 378.8 M TURNOVER IN 1H07
INTRALOT SA today announces its financial results for the six-month period ending June 30th, 2007, prepared in accordance with IFRS.
Consolidated Revenues for the period reached €378.8m, posting a 0.8% decrease compared to 1H06. EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) decreased by 1.7% to €120.6m, compared to the same period last year. Earnings Before Taxes (EBT) recorded a decrease of 9.1% y-o-y by reaching €103.7m compared to €114.1m in 1H06. Earnings After Taxes and after minorities (EAT-am) increased by 4.3% y-o-y to €57.6m from €55.2m in 1H06.
Total International Revenues for the INTRALOT Group amounted to €317.1m, or 83.7% of total Group sales, compared to 73% in 1H06.
The cash balance reached €345.8m in 1H07, while the net debt position is low and reaches €12.8m. The decrease of the company’s net cash position is a result of the financing required for all the major projects that the company has been undertaking recently.
Revenues for the parent company were €102.5m, compared to €106.7m in 1H06. Earnings Before Taxes (EBT) were €85.4m, compared to €62.6m, posting a 36.4% y-o-y increase. Earnings After Taxes (EAT) reached €74.9m in 1H07, posting a 65.3% y-o-y increase (1H06: €45.3m).
Commenting on 1H07 results INTRALOT’s CEO, Mr, Constantinos Antonopoulos, noted: “INTRALOT’s management is very pleased since the Group delivered robust financial results in 1H07. The semester’s net earnings have increased, despite the fact that this period’s betting operations globally had to be compared with the sound results of 2Q06 after the football World Cup, which took place in June 2006.
This semester, the Company has continued to expand its international operations significantly and to add major contracts in its portfolio. Specifically, in addition to the recent agreements in Taiwan and South Africa, INTRALOT succeeded to win contracts with the license holders of the All-Russian State Lottery and South Korea’s National Lottery. The above lotteries were the 4 largest projects that were tendered the past 2.5 years in the global gaming sector. The fact that INTRALOT has managed to win all of them is indicative of the Company’s competitiveness and strength in the industry. Moreover, the Company signed a 3-year agreement with OPAP for the provision of support services and infrastructure for the “Pame Stihima” betting game.
Finally, INTRALOT won its 4th contract in the US with the New Mexico Lottery, strengthening further its presence in this highly demanding and lucrative market.
The above developments together with other major projects under way, will fuel INTRALOT’s continuous global expansion and demonstrate the Company’s ability to take advantage of the significant upcoming opportunities in the gaming sector internationally.”
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. It’s 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 over than 40 countries, with more than 3,600 people and revenues of €791,4 m. for 2006, INTRALOT has established its presence in all 5 continents.