Intralot, the Greece-based international online and land-based bookmaker and casino provider, announced their first nine months results of 2014, which shows a strong increase in revenues and stable operational profits. The period is from January 1st to September 30th 2014 and will be compared to the 2013 results.
Consolidated revenues grew with 23.1% to €1,329.5 million, which is an increase of €249.5 million year-on-year. Net before a negative Forex impact of €80.9, revenues had reached €1,410.4 million, which was an increase of 30.6% year-on-year.
The EBITDA showed a decrease of 8.2% totalling at €131.7 million, which was originally €143.2 million before Forex charges, which had an increase of 0.2%. EBIT decreased by 13.3% to €66.2 million and EBT decreased by 32.1% to €27.3 million. Net Profit for the period was a negative €32.1 million.
Cash flow from operations reached €45.1 million, which is basically unchanged year-on-year. Intralot's net debt is at €401.3 million, which is the same levels as in 2013. 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.
“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.” INTRALOT Group CEO, Mr. Constantinos Antonopoulos said in a press release.
“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.” Antonopoulos added.
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.” Antonopoulos finalized.