Intralot reports climbing revenue in third quarter results

Intralot reports climbing revenue in third quarter results

Publishing its results for the third quarter of 2016, international gaming solutions provider Intralot revealed a year-on-year increase in revenue of 16.2% to €320.6m

Gross profit for the period fell by 5.7%, however, decreasing to a total of €49.1m compared to €52.1m for the prior year quarter.

EBITDA was also down year-on-year, declining by 14.3% to €35m.

The revenue growth for Q3 has contributed to strong year-to-date performance, with group revenue for the first nine months of 2016 climbing to €957.5m, while gross profit also grew marginally, from €168.2m to €168.3m.

Antonios Kerastaris, Intralot Group CEO, said: “Intralot Q3 was marked by aggressive organic revenue growth, as a result of the company strategy for launching new products and services and reaping fruits of new projects.

“Recent milestone developments of a successful early refinancing of a €250m bond in September with significantly better terms that lead to cumulative savings of up to €65m savings in debt-servicing costs and extension of maturities to 2021 combined with the collection of USD 68.7m in cash from the disposal of 80% of our operation in Peru have drastically improved our financial position and capacity to meet our targets of significantly reduced net debt and improved cash position by the end of 2016.”

Source: Intralot reports climbing revenue in third quarter results