Published
Land-BasedCasinoFinancialIndustry

Ainsworth Game Technology profits down 32%

Aust

ainsworthrevenue
ralian slot machine manufacturer Ainsworth Game Technology Limited has announced a 32% year-on-year drop in its profits for the financial year ending 30th June 2017.

In its full financial report for the year, the company reported profits after tax of A$37.9m dropping from the previous year’s fiscal year total of A$55.7m. As a result of these losses, company revenue in the period dropped by 1%.

Earnings before interest, tax, depreciation and amortisation (EBITDA) decreased by 27% from A$95.8m in the fiscal year ending 30th June 2016 to A$70.3m in the following financial year. The company’s earnings before interest and tax dropped by 72% from A$72.8m to A$44.5m.

Despite the poor financial figures, Ainsworth said a weak first-half performance had been followed by significant improvement in the second half of the fiscal year, where pre-tax profit had exceeded market estimates, at A$42.2 million, rising 178 percent on the A$15.2 million reported in the first six months of the financial year.

In a statement released with the results, Ainsworth CEO Danny Gladstone said: “It was pleasing to report such a strong 2HFY17 profit performance, exceeding guidance for the year. 2H profits, excluding currency, were up by 178% on 1H. We enter FY18 with good momentum. Our profile in the Americas continues to increase. Our sales pipeline is strong with large, confirmed orders and new market opportunities.

Our new licensed Pac Man product is increasing the strategically important number of units under operation generating high quality recurring revenues. Positively, we are starting to see the early outcomes from our investments in R&D and strengthened technology leadership. “

“With a broadened product offering and the new, recently launched EVO cabinet in Australia we expect to increase market share both internationally and in domestic markets.”

Premium+ Connections
Premium

RISK

 
Premium

Digitain

 
Premium

Galaxsys

 
Premium

GammaStack

 
Premium

PIN-UP Partners

 
Premium

Revsharks

 
Premium

1xBet Partners

 
Premium

Lynon

 
Premium

Imagine Live

 
 
Premium

Sport Generate

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...