SBC News Voice of the Sports Betting Industry
Publishing its full-year 2016 financial results, Athens-listed gambling and lottery systems provider Intralot Group has stated that its operations are beginning to ‘reap the rewards of its business transformation’.
Presenting its full-year 2016 breakdown, Intralot governance would report a 7% increase in group revenues to €1.32 billion (FY 2015: €1.25 billion).
The firm states that its revenue capabilities have been boosted by new gaming systems and product terminals installed within a number of international clients, enhancing the firm’s performance.
Further positive results would see Intralot declare sustained group profits of €233 million, which would see the company post a full-year EBITDA of €175 million, up 6.6% on FY 2015’s €165 million.
Detailing operational highlights, Intralot governance would point to the firms improved performance in the Eastern European markets of Bulgaria and Turkey which contributed €+155 million in lottery sales.
Eastern European growth would be supported by the €22 million sales in North America, with the market recording its biggest Powerball Jackpot in 2016.
Commenting on the FY 2016 Results INTRALOT Group CEO Antonios Kerastaris noted:
“The strongly positive results of 2016 in both growth and profitability reflect important transformations that have taken place over the past couple of years across operational capabilities, project management, cost structure, and Products and Services portfolio investments. A series of M&A transactions greatly enhanced our business development potential through strong local partnerships and diversified portfolio offering. The past year was also marked by tremendous improvements in INTRALOT’s financial structure in a way that secures future savings and a clear funding horizon until 2021 while affirming international investors’ confidence in future value creation.”
