More specifically, the company is bidding for important projects in ongoing tenders until May 2024, with an emphasis on the gaming markets of the USA, Brazil and Australia and Canada.
Markets that have a strong size as well as a high difficulty and growth index.
Particularly in the USA, it participates in tenders in North Dakota, Minnesota, Wisconsin, Ohio. Primarily these are technology contracts in the gaming industry, a sector in which Intralot also recorded growth in 2023.
Most of the turnover in 2023 came from the US market (57.6%). Europe accounted for 17.3% and business activity in the rest of the world accounted for 25.1%.
Regarding the market in Argentina, the management of the listed company pointed out that the lower revenue in Argentina is a result of the recent economic reforms in the country and the decision of the new government to devalue the peso by more than 50% in the last month of the year.
In local currency, the results showed an increase of 194.8% year-on-year.
In Turkey, the surplus arising from the activities in the local market (+21.2 million or +71.5%) is due to the improved performance of Bilyoner, which was favored by the growth of the online market. The performance of the activity of the listed company in Morocco and Croatia is also noteworthy.
Special emphasis on EBITDA margin
Regarding the financial data of the listed company, particular emphasis was placed on the EBITDA margin on sales, which on an annual basis rose to 35.6% from 31.3%, marking an increase of 4.3 pps compared to the twelve months of 2022.
The Operating Cash Flows stood at 112.5 million in 2023, up 16.2 million compared to 96.3 million in the twelve months of 2022, as a result of the improvement in EBITDA, the positive change in working capital and lower tax payments.
It should be noted that the Intralot group is active in the field of development and provision of technology services for the digital and non-gaming market, with a main focus on lottery games as well as sports betting games.
It operates both as a supplier of hardware and software solutions, and as a gaming organizer in 39 countries and states of the world with a regulated market (developed and developing markets) through 50 active contracts with the renewal rate reaching 89% (from 2006 to 2023), while having approximately 300,000 terminals worldwide.
