Intralot just released their results for the first quarter of 2014 and shows a robust start of the year, with a 25.3% increase in consolidated revenues, from €355.8 million in Q1 2013 to €445.7 million this year. Earnings before interest, tax, depreciation and amortization (EBITDA) had a slight decrease of 6.3% to €51.6 million.
Net of a negative FX impact of €4.7 million, EBITDA reached €56.3 million, which is a 2.2% increase year-on-year. Earnings before interest and Tax (EBIT) increased by 8.2% to €31.1 million but with Net of a negative FX impact of €3.8 million, EBIT reached €34.9 million, which is an increase of 21.3% compared to Q1 2013.
Earnings before tax (EBT) decreased by 21.5% to €16.6 million net of a negative FX impact of €4 million, EBT reached €20.6 million, a decrease of 2.9% compared to the same period last year.
“The year 2014 has set out to a good start for INTRALOT as we had a strong growth in the top-line and operating profits despite the continuing FX headwinds. During the first quarter of the year we started the implementation of the Group reorganization and we added to our portfolio some new projects in Europe and the US, in-line with our strategy to selectively expand our business and capitalize on our presence in existing jurisdictions.” CEO of Intralot Group, Mr. Constantinos Antonopoulos stated in a press release.
“Having successfully completed the new bond issue and extended the Group’s debt maturities significantly, we are well positioned to evaluate new opportunities worldwide.” he added.