Key points:
– Ainsworth expects $14m profit before tax for H1 2025, in line with prior-year figures
– Revenue forecast to rise 6% compared to H2 2024, driven by Australian market gains
– Independent Board committee continues to recommend Novomatic acquisition proposal
Ainsworth Game Technology has issued a trading update ahead of its financial results for the six months ending 30 June 2025, forecasting a profit before tax of approximately $14m – largely consistent with the $14.3m reported in the same period last year.
The supplier expects a 6% increase in total revenue relative to the six months ending 31 December 2024, supported by growth in Australia following the February release of the Raptor cabinet.
Segment margins in Australia also improved, helping offset a decline in the LatAm/Europe division, where revenues fell approximately 14% due to continued import restrictions in Mexico.
North American revenues are expected to remain flat on a constant currency basis, with segment margin performance broadly unchanged from H2 2024.
Underlying EBITDA (excluding currency impacts) is forecast to remain similar to the $26.8m reported in the prior corresponding period. Research and development investment accounted for around 17% of total revenue, slightly up from 16.6% in the previous half.
Chairman Danny Gladstone said: “The expected result outlined above is in line with our expectations... offset against ongoing challenging conditions in our international markets and an increased cost base and continued investment to support our revenue growth.”
Good to know: The announcement comes as shareholders prepare to vote on Novomatic AG's proposed acquisition of Ainsworth
Novomatic AG currently owns 52.9% of Ainsworth’s shares. The Independent Board Committee has reiterated its recommendation in favour of the scheme in the absence of a superior proposal and subject to independent expert confirmation.
Novomatic’s agreement to acquire the remaining Ainsworth shares, announced in April, is expected to close by the end of Q2 2025. The deal values Ainsworth stock at $1.00 per share.
Novomatic has been expanding its international footprint, securing a UAE licence and a 10-year extension of its Dutch gaming vendor licence. The group has also cited Ainsworth’s US and Asia-Pacific presence as strategic assets in its growth plans.
