Intralot reports financial results

The company reported a year-on-year 13.4 percent increase in revenue and a 10.5 percent EBITDA growth for September.

Greece.- INTRALOT SA, the international gaming solutions and operations leader, announced its financial results for the nine month period ending September 30, 2017, prepared in accordance with IFRS.

The company revealed that revenue and EBITDA grew 17.5 and 17.3 percent year-on-year respectively  on a constant current basis. The Group revenues also increased by 13.4 percent during September 2017, when compared to the same period last year.

EBITDA grew by 10.5 percent in the nine month period, whilst margin contracted by at 0.4pps at 12.6 percent. EBT margin developed to 3.5 percent. NIATMI (Net Income After Tax and Minority Interest) from continuing operations improved by 39.6 percent when compared to last year, developed to €20.1 million from €33.3 million. Operating Cash-flow generation was in line with prior year at €120.5 million, approximately €10.1 million higher in organic growth.

In September 2017, INTRALOT has successfully priced an offering of €500 million, 7-year Senior Notes due 2024 with a coupon of 5.25 percent, concluding a debt reprofiling process in the last 3 years that resulted in INTRALOT’s funding cost reduction with a simultaneous extension of average debt life from 3.5 to 6 years. Moreover, in October 2017, INTRALOT de-invested from its Jamaican operations. The transaction totaled €40 million, approximately 12 times the annual net profit after tax attributable to INTRALOT’s equity holders.

INTRALOT Group CEO Antonios Kerastaris noted: “Financial Results for the 9M2017 demonstrate steady progress in all three strategic goals set by the company, namely gains in Operational Performance, the implementation of M&A strategies to improve the profitability of our offering mix while facilitating investments in new products and projects, and Financial Profile Restructuring to secure long-term visibility.”

INTRALOT’s market potential has been manifestly recognised by the success of a 3x-oversubscribed €500 million bond offering with 7 year maturity period in September 2017. This issue allowed INTRALOT to fully repay its syndicated loans to the Greek banking sector while the diverse mix of investors includes the majority of the highest caliber international investment houses and generates additional confidence and credibility for INTRALOT’s prospects,” he added.