Intralot has reported Q1 revenue of €89.5m ($95.8m) – an 8% year-on-year decrease.

However, EBITDA was up 29% to €33.7m, with NIATMI (net income after tax and minority interest) at €3.1m compared to -€5.7m a year ago, and net debt decreasing from €500.6m to  €471.6m, a fall of 6%. 

Despite group revenue being down, revenue at Intralot’s US operations was on the rise, with the report showing an increase of 13% and EBITDA also rising by 32%.

Operating cash flow has also risen by 115% to €37.2m.

Lottery games were the largest contributor to group turnover, with a share of 60.4%, followed by sports betting with a share of 17.5%, VLTs monitoring with a share of 12.5%, technology contracts with a share of 9.5% and racing with a share of 0.1%.

Intralot Chairman & CEO Sokratis P. Kokkalis commented: “We are extremely proud of first quarter robust organic EBITDA growth of 29% and a return to net earnings, along with healthy cash flows and significant reduction of group bet leverage ratio down to 3.6x, providing additional momentum to Intralot’s successful turnaround story as a result of our consistent efforts in the past few years. 

“With healthy financials and new technical capabilities offered through solutions for lottery digital transformation, in both the retail and online worlds, we look forward to timely addressing upcoming maturities, further improving our capital structure, and implementing an ambitious plan for strong and sustainable growth in the US and key markets around the world, creating value for all stakeholders.”