Operator News
Greece – Fourth quarter of EBIDTA growth at Intralot
By Phil - 28 November 2013
The nine-months ending September 30 2013 have seen revenues grow at Greek gaming company Intralot by 7.9 per cent, to €1,080.0m.
Intralot Group CEO, Constantinos Antonopoulos, said: “As we are approaching the end of the full year 2013, the financial performance of Intralot during the nine month 2013 period is a well-balanced result of growth and financial strength: on a Group level our revenues increased by almost eight and EBITDA posted an impressive growth rate of more than 22 period in the respective period. EBITDA margin increased to 13.3 per cent in the 9M 2013 period, compared to 11.7 per cent in the same period last year. This is the fourth consecutive quarter that there has been an improvement in the Ebitda margin, which is in-line with our strategy to continuously improve our existing operations and to selectively participate in projects that are very promising. Moreover, the improvement of Ebitda margins and financial results, despite the FX impact (€53m) we have witnessed in the last couple of quarters, is also indicative of the strength of the real, underlying business. In our view, FX impact is a short-term and temporary situation that we expect to improve in the next few quarters.”
“Regarding recent developments, we signed our third contract in Taiwan, to offer sports betting services to the license holder in the country for a period of 10 years,” Mr. Antonopoulos continued. “This project marks Intralot’s third cooperation in Taiwan, having previously been selected as the technology supplier for the ChinaTrust Commercial Bank, and also the technology provider for Sports Betting.”
In Greece, Hellenic Lotteries, in which Intralot participates, acquired a 12-year license to offer instant and passive tickets in the country, an operation that is expected to start in Q1 2014.
“We are very excited about the fact that we will be participating in the instant ticket business in Greece after the success it met under our operation in the decade 1993 to 2003,” Mr. Antonopoulos added. “Finally, in Turkey, the process to acquire an additional stake of more than 25 per cent in our subsidiary company Bilyoner finalized in Q4, a move that will increase our presence in the growing sports betting market of Turkey.”
