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Intralot reports climbing revenue in third quarter results

By Tom Lewis
Publishing its results for the third quarter of 2016, international gaming solutions provider Intralot revealed a year-on-year increase in revenue of 16.2% to €320.6m

Gross profit for the period fell by 5.7%, however, decreasing to a total of €49.1m compared to €52.1m for the prior year quarter.

EBITDA was also down year-on-year, declining by 14.3% to €35m.

The revenue growth for Q3 has contributed to strong year-to-date performance, with group revenue for the first nine months of 2016 climbing to €957.5m, while gross profit also grew marginally, from €168.2m to €168.3m.

Antonios Kerastaris, Intralot Group CEO, said: “Intralot Q3 was marked by aggressive organic revenue growth, as a result of the company strategy for launching new products and services and reaping fruits of new projects.

“Recent milestone developments of a successful early refinancing of a €250m bond in September with significantly better terms that lead to cumulative savings of up to €65m savings in debt-servicing costs and extension of maturities to 2021 combined with the collection of USD 68.7m in cash from the disposal of 80% of our operation in Peru have drastically improved our financial position and capacity to meet our targets of significantly reduced net debt and improved cash position by the end of 2016.”

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