Posting its full-year 2015 corporate performance, Athens listed gambling and lottery technology provider Intralot SA declared a net earnings declined to €25.7 million, down 30% on FY 2014’s €36.5 million.
Despite the decrease in group earnings, Intralot governance remained pleased with 2015 performance citing that the company had gained new contracts (US, Netherlands, Brazil and Morocco) in challenging market conditions.
Highlighting positive indicators, Intralot would record a like-for-like revenue increase of 3.3% to €1.91 billion (FY 2014: €1.85 billion). The company would maintain its EBITDA performance, posting €177.2 million (FY 2014: €175 million).
Nevertheless, Intralot net earnings would be impacted by a 1% decline in its profit margins to 13.7% (2014: 14.6%), which had been affected by increased payouts and profits loss from discontinued business.
The firm’s total operating expenses rose by 3.4% to €207.5m as a result of the expansion of our business in US and the increased investment in selling and marketing to further grow revenues primarily in Turkey.
Antonios Kerastaris Group CEO of Intralot SA commented on FY 2015 Performance
“New contracts and renewals in the US, the Netherlands, Morocco, Nigeria, and Kenya underscore our ability to sustain and grow our business through select markets across the globe. Going forward we expect accelerating revenue and EBITDA growth, propelled by a healthy pipeline of new contracts (starting with the Chile National Lottery and Brazil Minas Gerais district lottery operations) coupled with an operating model that focuses on cashflow generation through a rationalization of our cost base and balance sheet structure.”
“Overall, we remain committed to transforming INTRALOT from a project-based company to a products and services gaming specialist. Implementing this strategy we first sharpen and diversify our offering through a combination of “gaming competence centers” and targeted investments in companies such as Bit8 and its acclaimed CRM platform. Secondly, we expand our global partnership network in licensed operations and managed services: our recent alliance with Gamenet in Italy is the first in a series of potential transactions that seek to rebalance our footprint, release growth capital and unleash INTRALOT’s full potential as a unique player in the global gaming scene.”