Greek gaming company INTRALOT S.A. posted its financial results for the six months ended June 30, 2015. Consolidated revenue increased 5.9% year-on-year to €958.7 million. In comparison, the amount of €905.5 million was posted for the same period a year ago.
EBITDA dropped 2.6% to €87.2 million during the first half of the year. However, it increased 9.4% to €80.1 million on a like-for-like basis. EBITDA for the second quarter of 2015 rose 8.4% year-on-year to €41 million. On a continuing business basis, the amount of €38.7 million was posted, up 26.7% as compared to the three month period ended June 30, 2014.
The company pointed out that it kept on investing in R&D during the first half of the year in order to maintain a leading position in the technological developments area. INTRALOT focused its attention mainly on the enhancement of its product and service offering related to mobile content, CRM systems, the LOTOS10 system, etc. The Greek gaming company said that it spent a total of €9 million for research and development during this year’s first half. In comparison, the amount of €7.6 million was invested for the same period a year ago.
Revenue for INTRALOT’s parent company amounted to €39.3 million, down 17.8% year-on-year. EBITDA increased 114.1% to reach €34.3 million, compared to €16 million posted for the six-month period ended June 30, 2014.
Antonios Kerastaris, Chief Executive Officer of INTRALOT, commented that the company posted strong growth in revenue in all its geographical segments. In addition, EBITDA increased 9.4% on a like-for-like basis and this was attributed to the excellent results reported by the group’s subsidiaries as well as to the new contracts inked with the states of Ohio, Georgia, and Wyoming.
In addition, the executive reminded that INTRALOT renewed its contracts in Morocco, Azerbaijan, and the Netherlands during the first half of 2015. It also purchased a “strategic stake” in Bit8, thus enriching its product offering as a means to enhance customer experience.
Mr. Kerastaris said that INTRALOT will remain focused on implementing its growth strategy in order to maximize value for shareholders and provide customers with the best possible service.
