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Tuesday, June 5, 2012 at 04:47PM
INTRALOT S.A., the leading international gaming company, announces today its financial results for the three-month period ending March 31st 2012, prepared in accordance with IFRS.
Consolidated Revenues for the period increased by 15.4% compared to 1Q11, reaching €347.2m. Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) increased by 6.9% to €41.7m., while Earnings Before Taxes (EBT) reached €15.2m., posting a decrease of 6.1%. The quarter was cash-flow positive as Net Debt dropped by €9.6m in 1Q 2012.
Revenues for the parent company increased by 53.9%, to €40.8m. EBITDA increased to €8.5m from €2.4m in 1Q11. Earnings After Taxes (EAT) were €4.5m from €0.1m in 1Q11.
Commenting on 1Q12 results INTRALOT Group CEO, Mr. Constantinos Antonopoulos, stated: “We are pleased with our first quarter results, as the Group continued to grow both on a revenues and EBITDA basis despite the adverse sports betting results that impacted the industry in the period. This strong performance was achieved due to the strong diversification and internationalization of our business, as well as due to the continuous innovations that we have introduced, both at the technological and the operational levels.
The advantages of our selective investments in developed countries, which provide the needed stability to the business and occasionally significant growth opportunities, such as VLTs in Italy, and developing countries, which pose significant growth opportunities, such as sports betting in Azerbaijan, provided a good boost to our results among other well performing projects.
As mentioned a few days ago in our Annual Shareholders’ Meeting, the Group is implementing the “Blue Oceans Strategy”, meaning that we emphasize on innovation and differentiation, we create and set new trends, while expanding and reconstructing market boundaries.”
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