Underlying EBITDA was AU$20.7m for the period, compared to AU$1.1m, while underlying profit before tax was AU$10m, compared to an underlying loss before tax of AU$18.7m in the prior-year period.
The company reported profit after tax of AU$9.1m for the period, compared to a loss after tax of AU$50.1m for the “heavily pandemic impacted prior corresponding period.”
A statement from AGT read: “The improved results were primarily driven by increased revenue resulting from recurring revenues on Historical Horse Racing (HHR) installations and outright sales, including the conversion to sale of 400 HHR units previously placed on participation in North America, an improvement in Latin America driven by recovery and venue re-openings, and a higher contribution achieved from the online division.
“Reflecting the improvement in trading conditions offshore, international revenues increased by 59% versus the prior corresponding period (PCP), and now account for 83% of the group’s total revenue. Recurring revenues, another priority in the group’s strategy to achieve sustained performance, increased by 28%.”
Revenue in Australia declined by 13% compared to the prior-year period, with North American revenue climbing 33% to AU$54.6m.
“We are pleased to deliver an improved result for the half year, driven by re-openings and recovery in many of our major international markets,” said AGT CEO Harald Neumann. “While we can look forward to further recovery, especially in Australia and Latin America, we are also actively pursuing a range of initiatives to fundamentally upgrade AGT’s game design and technology capabilities.
“The ability to quickly deliver new products to market that can provide sustained performance for our customers is critical to our long-term success. I look forward to updating you as we progress.”
