Revenue for the Greek lottery and gaming solutions provider significantly fell down to €168.2m ($199m) for the six months up to 30 June, while gross gaming revenue (GGR) decreased by 39%, to €133.5m.
EBITDA also saw a stark drop, falling 55% down to €26.7m, while net income after tax and minority interest (NIATMI) from continuing operations, widened 39% to -€42.9m. However, net debt did improve from €652.4m in 2019, to €623.1m for H1 2020.
In terms of Q2, revenue decreased by 64% to €66.3m with GGR down 48% to €56.6m, and EBITDA falling by 61% to €10.6m. NIATMI for the quarter dropped by 44%, to -€25.4m.
Lottery games contributed to 65% of the group’s total revenue for H1, with sports betting accounting for 12%.
The supplier attributed the several factors for the revenue fall, including a 75% decrease in B2C activities from its licensed operators, and major falls in its Bulgaria and Turkey revenue.
This was due to the discontinued contracts of Eurobet in Bulgaria from February, which saw revenue from the division cut by €140.3m
Intralot Group CEO Christos K. Dimitriadis said: “During the first half of 2020 we have navigated through the COVID-19 pandemic as well as the effect of discontinued operations in Bulgaria and Turkey.
“Most importantly we are continuously being prepared for the future and the new realities that are being established worldwide.”
