North America operations, helped drive Intralot to growth in its first quarter with group revenue in 9.3 per cent year-on-year hitting €102m.
EBITDA was up 55.4 per cent to €24.4m with North America seeing revenues up 21.8 per cent and EBITDA up 81.8 per cent.
Intralot Chairman & CEO Sokratis P. Kokkalis said: “First quarter results show strong Revenue and EBITDA growth, driven by robust operational performance and successful implementation of cost containment measures, while maintaining a strong cash position. At the same time, we continue to sharpen our focus on strategic markets with higher margins, launch new operations, such as Croatia, and roll out our new product portfolio, overall pointing to a very healthy operational performance for 2021.
Lottery Games was the largest contributor to Intralot’s top line, comprising 63 per cent of the revenue, followed by Sports Betting contributing 19.1 per cent to Group turnover. VLTs represented 8.7 per cent and Technology contracts accounted as well for 8.7 per cent of group turnover, while racing constituted the 0.5 per cent of total revenue of 1Q21.
The group added: “The economic fallout from COVID-19 continued to affect business activities in the beginning of 2021, and restrictions in most of the regions across the world were still enforced to cope with the spread of the pandemic. However, as vaccinations are progressing, governments have loosened COVID-19 measures after months of lockdowns, and gradually re-opened economic activities.
“The gaming market in most of the regions where we operate has started to improve, while US Lottery market shows high degree of resilience. Based on the current performance of our operations in the first months of 2021 and the actions undertaken by most of our subsidiaries, no significant EBITDA impact is expected post 1Q21 from the pandemic. In any case, the scale and magnitude of COVID-19 impact for 2021 is continuously assessed and all containment measures assumed in 2020 remain intact and have been enhanced in order to absorb the potential impact in the financial results of 2021. The extent to which the COVID-19 pandemic may impact the financial performance in 2021 will depend on future development of the pandemic and the efficiency of the actions taken by the governments. This uncertainty will require us to continually adapt our strategy and initiatives and continuously assess the situation.”