GTech reports mixed 2014 results

ider GTech has reported a 52.5% year-on-year net income loss for 2014 along with a number of increases.

Net income fell to €83.3m from the €175.4m posted for 2013.

Revenues, which jumped 4.7% to €809.5m for Q4 last year, went up 0.2% to €3.06bn for the full year compared to 2013’s figure.

Product sales were cited as the main reason for the revenue increase, which went up to €86m in Q4 from €51m in Q3.

EBITDA increased 4% to €1.07bn, while operating income improved 1.4% to €567m.

Diluted earnings per share, as with net income, went down 52.5%.

GTech is poised to complete its $6.4bn acquisition of fellow provider International Game Technology (IGT), which was first reported in July and was approved by shareholders in February.

GTech S.p.A. CEO Marco Sala analysed Q4 2014 as “robust”, and thinks its position will be consolidated, while also announcing that the IGT acquisition is being finalised.

Sala said: “We ended 2014 on another robust quarter, with strong product sales in the Americas and international and steady service revenues overall.

“We are finalising the acquisition of IGT, ready to initiate the integration of our two companies, and to consolidate our leadership of the global gaming industry.”