Intralot hits financial targets in first third quarter

Antonios Kerastaris, chief executive of Intralot, has revealed that the gaming systems company was able to reach a number of financial expectations during the three months through to September 30.

Revenue in the third quarter hit €421.2 million ($446.1 million), relatively unchanged from the €424 million last year, while earnings before interest, tax, depreciation and amortisation (EBITDA) increased 5.9% year-on-year to €44.7 million.

However, the company was hit by a drop in earnings before interest and tax (EBIT) during the quarter, with this falling 27.6% to €14.8 million.

Intralot also noted that its performance in the third quarter was able to boost its results for the nine months through to September 30.

Consolidated revenue in the period amounted to €1.4 billion, up from the €1.3 billion posted in the corresponding period last year.

EBITDA was also up by 0.2% year-on-year to €131.9 million, although EBIT fell from €27.3 million last year to €18 million in the most recent period.

Antonios Kerastaris, chief executive of Intralot, said: “We are pleased with the Q3 results that are in line with our expectations for stable growth of our business.

“EBITDA grew by 6% compared to Q3 2014, despite the ailing performance of Italy due to extraordinarily high, country-specific payouts, which led the Italian business to contribute marginally to our EBITDA, the weak performance of Azerbaijan, the fall-off of the Romanian contract and the effect of the World Cup last year in both the second and third quarters.

“During the third quarter, we continued streamlining our global operations and unfold our selective expansion plans.

“We renewed our presence in New Mexico, US, for eight years, where we have had an excellent cooperation with the State Lottery since 2006 and signed a new 10-year contract in Nigeria, a very dynamic African market.

“Our focus on licensed operations remains strong, as we proceed with the integration of Bit8 CRM platform that will be a valuable asset on the B2C front of our business.”

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