Supplier News
Greece – Intralot sees first quarter boom by 12 per cent
By Phil - 1 June 2015
Greek operator saw growth of 12 per cent in the first quarter with markets in Peru, Argentina, and Jamaica performing particularly well.
First quarter revenue grew to €499.4m up from €445.7m in the corresponding period last year whilst earnings before tax increased by 12.5 per cent on a year-on-year basis to €18.7m.
Markets in Bulgaria and Turkey also performed well for the company although the Asia-Pacific region dropped off after the operator sold its lottery license in Victoria, Australia.
Intralot Group CEO, Antonios Kerastaris, said: “Revenues in the quarter grew by 12 per cent and EBITDA proved to be resilient despite the difficult comparison with 1Q 2014, due to the fall-off of the previous OPAP and Romanian contracts and strong headwinds from a higher than usual payout. A comparison of the business excluding these exceptional items shows a strong growth in Revenue across all of our geographical segments. On a like for like basis our EBITDA grew by 11 per cent in this quarter as the majority of our subsidiaries reported strong results, in-line with our broader expectations.
“During the first quarter we have renewed our contracts in the Netherlands, Morocco and Azerbaijan and continued the implementation of our strategic plan to streamline operations.,” he added. “We are expanding our product portfolio and improving the player experience by adopting a true “best-of-breed” model, with our products strategy focusing on mobility, gaming content, player engagement platform, CRM platform and L10 Central System. Our course is in line with our goals to generate top line growth from both existing projects and greenfield development. We are also focusing on improving our bottom-line and being positive in terms of cash flow.”
