INTRALOT Announces EBITDA Growth +14% y-o-y and Positive Earnings After Tax €4.4m in 1H23

September 1, 2023 | Financial

ATHENS, Greece (August 31, 2023) — INTRALOT SA (RIC: INLr.AT, Bloomberg: INLOT GA), an international gaming solutions and operations leader, announces its financial results for the six-month period ended June 30^th, 2023, prepared in accordance with IFRS.

OVERVIEW

Group Revenue at €175.3m in 1H23 (-14.4% y-o-y).
EBITDA at €62.8m (+14.0% y-o-y) in 1H23, with EBITDA margin reaching 35.8% from 26.9% in 1H22. On a quarterly basis, 2Q23 vs. 2Q22, EBITDA remained at the same levels.
LTM EBITDA rose to €130.6m, up by 6.3% vs FY22.
Substantial growth in our US operations (Revenues +7.4%, EBITDA +14.7% y-o-y). EBT in 1H23 shaped at €16.3m vs. €8.0m in 1H22.
NIATMI (Net Income After Tax and Minority Interest) at €4.4m, vs. €-0.5m a year ago.
Operating Cash Flow at €49.8m in 1H23 (+20.2% y-o-y). Group Net CAPEX in 1H23 was €14.1m.
Group Cash at the end of 1H23 at €101.5m.
Net Debt at €480.5m at the end of 1H23, lower by €10.0m vs. Dec-22 and €28.2m vs. 1H22. Net Debt/ LTM EBITDA at 3.7x in 1H23 vs. 4.0x in FY22.
U.S. subsidiary INTRALOT, Inc. has signed an extension of its contract with the Wyoming Lottery Corporation for an additional five-year term, until August 25, 2034.
In Taiwan, LotRich Information Co., Ltd. a Taiwanese joint venture in which INTRALOT is a major shareholder, has signed a 10-year contract as the lottery system technology provider of CTBC Bank Co.
On August 8, 2023, the Group announced the cancellation of Notes due 2024, that were in its possession, with nominal value €144.432.000.
Following the General meeting of the Company’s shareholders held on August 30, 2023, the Board of Directors was authorized to resolve the terms of the increase of the Company’s share capital up to an amount not exceeding 100% of the paid-up share capital.

Note:

Due to rounding, numbers presented throughout this, and other documents may not add up precisely to the totals.

INTRALOT Chairman & CEO Sokratis P. Kokkalis noted:

“INTRALOT’s results for the first half of 2023 show continuing EBITDA growth of 14.0% and healthy cash flows as the company consistently focuses on higher profit margin activities and lower leverage ratios. These developments allow us greater confidence in refinancing our upcoming maturities with an improved credit profile and address significant opportunities in the US and around the globe.”

See the complete report.

About INTRALOT

INTRALOT, a publicly listed company established in 1992, is a leading gaming solutions supplier and operator active in 39 regulated jurisdictions worldwide. With a global workforce of approximately 1,700 employees in June 2023, INTRALOT is committed to redefine innovation and quality of services in the lottery and gaming sector, while supporting operators in raising funds for good causes. Uniquely positioned to deliver state-of-the-art technology across geographies, the company has developed an advanced ecosystem that serves all verticals enabling the digital transformation of gaming operators and offering players an unparalleled gaming experience. INTRALOT has been awarded the prestigious Responsible Gaming Framework certification by the World Lottery Association and is certified under the WLA Security Control Standard. Visit us at www.intralot.com.