GGRAsia – Intralot’s revenue up in 3Q, but losses widen

Intralot’s revenue up in 3Q, but losses widen

Nov 11, 2014 Newsdesk Industry Talk, Latest News, World

Athens-based gaming and lottery supplier Intralot Group reported a net loss attributable to owners of EUR8 million (US$9.9 million) for the third quarter of 2014, up from EUR2 million a year earlier.

The firm on Monday posted consolidated revenue of EUR424 million for the three months ended September 30, an increase of 16.9 percent from a year ago.

Earnings before interest, taxation, depreciation and amortisation (EBITDA) for the period went down 7.9 percent year-on-year to EUR42.2 million.

The Greek lottery provider posted consolidated revenue of EUR1.3 billion in the first nine months of 2014, an increase of 23.1 percent on the same period last year.

However, despite the strong revenue growth, Intralot’s EBITDA dropped 8.2 percent year-on-year to EUR131.7 million in the nine months to September 30. Net of a negative foreign exchange impact of EUR11.6 million, EBITDA reached EUR143.2 million in the period, “a marginal decrease of 0.2 percent year-on-year,” the firm said on Monday.

“From a financial stand point, the group continued to grow its sales, maintained its EBITDA profit before any foreign exchange impact and stabilised its net debt position,” Intralot’s chief executive Constantinos Antonopoulos said in a statement accompanying the results.

“In the first nine months of 2014 major existing projects in the U.S., Australia and Asia were extended and new ones are being successfully implemented,” he said, adding that Intralot will keep focused on developing the lottery sector.