Intralot hails ‘robust’ start to 2014

Greek-owned gaming and lottery operator Intralot claims to have experienced a ‘robust’ start to the year after reporting year-on-year growth during the three months to March 31, 2014.

The firm recorded consolidated revenues of €445.7 million ($60.9 million) in the first quarter of 2014, an increase of 25.3% on the €355.8 million posted in the corresponding period last year.

Intralot also reported that earnings before interest and tax also increased by 8.2% in the period to a total of €31.1 million.

However, the firm did report that earnings before interest, tax, depreciation and amortisation dropped by 6.3% to €51.6 million while earnings before taxes fell by 21.5% to €16.6 million.

Constantinos Antonopoulos, chief executive officer of Intralot, said the first quarter represented a ‘good start’ for the company and is confident it is now in a position to chase further growth.

“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,” Antonopoulos said.

“During the first quarter of the year we started the implementation of the group reorganisation 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 capitalise on our presence in existing jurisdictions.

“Having successfully completed the new bond issue and extended the Group’s debt maturities significantly, we are well positioned to evaluate new opportunities worldwide.”

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