The leading international gaming solutions supplier and operator INTRALOT announced its report for the first fiscal quarter ending on March 31st 2017. The company’s financial report was prepared in accordance with IFRS and comes to show a steady increase in INTRALOT’s group revenues and EBITDA.
The Chief Executive Officer of INTRALOT Antonios Kerastaris commented on the company’s first-quarter results, saying that the massive revenue growth as well as the improved profits reported over the first three months of the year were pushed up by the company’s strategic goals. He reminded that INTRALOT’s major aims were to focus on key markets and also to invest in further diversification of its gaming products and services portfolio.
As mentioned above, the financial report provided by INTRALOT shows a stable increase of the company’s revenues which rose by 20.6% from €305 million a year ago to €367.9 million over the first quarter of 2017. The gaming solutions supplier and operator also saw its gross profit rise by 7.3% from €58.9 million to €63.2 million.
The main factors pointed by the company as the major drivers of the company’s strong revenue growth over the period were the increased sales in Europe, the successful performance of INTRALOT in North and South America, as well as the stability experienced by the company in other regions.
As revealed by INTRALOT, the stable growth registered in Europe as a whole was primarily due to the increased sales of he company in Bulgaria and Poland. On the other hand, the strong performance of the company on the territory of North and South America was driven by the new partnership agreement signed by INTRALOT in Chile. The results registered in order reasons were also strong, with INTRALOT’s performance in Azerbaijan standing out.
The European operations of the company increased by 23%, reaching €156.1 million. North and South America accounted for €152.0 million, as a result of a 12.1% increase. All other regions saw their performance boosted by 24.6% and accounted for revenue of €72.4 million.
As revealed by the operator itself, the Lottery Games turned out to be the largest contributors to the company’s revenues, accounting for 44.6% of INTRALOT’s turnover. Sports Betting operations accounted for a total of 40.5% to Group revenue.
The EBITDA (earnings before interest, tax, depreciation and amortisation) registered by INTRALOT rose by 4.3%, reaching €46.5 million over the first financial quarter of 2017. The company’s earnings before tax (EBT) experienced a steady increase of 72.4%, from €10.5 million to €18.1 million.
According to Mr. Kerastaris, the transformational initiatives which the international gaming solutions supplier had undertaken over the last few years had a positive impact on the company’s profit and cash flow. He also explained that the company had managed to significantly improve its financial structure and the performance of its operations, but it remained focused on enhancing its credit grade outlook.
- Author
Olivia Cole
