Intralot, an international gaming solutions and operations leader, is taking advantage of the business opportunities presented in the sector in which it operates internationally and in particular in the US market following its improved financial profile. The company is expected to present at the end of September the comprehensive plan of its capital restructuring, including the upcoming increase of its share capital as well as its growth prospects.
Intralot’s revenues amounted to 175.3 million euros (-14.4% on an annual basis), EBITDA amounted to 62.8 million euros (+14.0% on an annual basis), while the EBITDA margin rose to 35.8% from 26.9%. EBT earnings amounted to 16.3 million euros compared to 8.0 million euros in the corresponding period last year. NIATMI (Net Profits/Loss after Taxes and Minority Rights) stood at 4.4 million euros in profits, compared to 0.5 million euros losses. Operating Cash Flows for the first half of 2023 amounted to 49.8 million euros (annual increase of 20.2%). Lottery Games were the biggest contributor to the company’s turnover, corresponding to 58.7% of its revenue, followed by Sports Betting with 17.6%. VLTs made up 12.7%, Technology Contracts contributed 10.9% and Horse Racing / Greyhound Racing 0.1% of total revenue. The Group’s Net Investments amounted to 14.1 million euros. Net Borrowing amounted to 480.5 million euros down by 10.0 million euros and 28.2 million euros compared to December 2022 and the first half of 2022 respectively.
“INTRALOT’s results for the first half of 2023 show continuing EBITDA growth of 14.0% and healthy cash flows as the company consistently focuses on higher profit margin activities and lower leverage ratios. These developments allow us greater confidence in refinancing our upcoming maturities with an improved credit profile and address significant opportunities in the US and around the globe,” INTRALOT Chairman & CEO Sokratis Kokkalis noted.
The company’s activities in the US recorded significant growth (annual increase in revenue and EBITDA by 7.4% and 14.7% respectively). INTRALOT’s subsidiary, Intralot Inc., extended its contract with the Wyoming Lottery for five additional years until August 25, 2034. In Taiwan, LotRich Information Co., Ltd. a Taiwan-based consortium whose major shareholder is INTRALOT has signed a ten-year contract to supply CTBC Bank Co.’s gaming system. On August 8, 2023, the Group announced the cancellation of bonds maturing in 2024, which it had in its possession, with a nominal value of 144,432,000 euros and following the General Meeting of the Company’s shareholders held on August 30, 2023, the Board of Directors was authorized to decide the terms for the company’s share capital increase up to an amount not exceeding 100% of the paid-up share capital.
