Greek provider of gaming options INTRALOT Group announced today its financial results for the nine months ended September 30, 2015. Consolidated revenue for the period amounted to €1.4 billion, up 3.8% year-on-year from the €1.3 billion posted for the same nine months a year ago.
Revenue for the third quarter of 2015 totaled €421.2 million, remaining relatively flat compared to the amount of €424 million reported for the three months ended September 30, 2014.
Group EBITDA increased 0.2% during the first nine months of the year to reach €131.9 million. EBITDA for the third quarter of 2015 totaled €44.7 million, up 5.9% year-on-year compared to the figures posted for the same three-month period of 2014.
EBT or earnings before tax amounted to €18 million in the nine months ended September 30, down from the €27.3 million posted for the first nine months of 2014. NIATMI or net income after tax and minorities interest was shaped at -€50.4 million. In comparison a negative of €32.1 million was posted for the same nine months a year ago.
Operating cash flow totaled €64.8 million for the period in review, down from the €94.1 million reported for the first nine months of 2014. The company attributed the drop to “one-off working capital requirements.”
Commenting on INTRALOT’s financial performance, Group CEO Antonios Kerastaris said that they are particularly pleased with the posted results as they represented their business’ stable growth. Mr. Kerastaris noted that EBITDA increased, despite the relatively poor performance of the company’s Italian and Azerbaijan divisions, the effect of the FIFA World Cup last year, and the the fall-off of its contract with Romania.
The executive also pointed out that most of INTRALOT’s subsidiaries performed well in the first nine months of the year. What is more, the company’s new agreements with the states of Georgia, Ohio, and Wyoming additionally contributed to a 15.8% increase in EBITDA generated in the USA in the nine months ended September 30.
Commenting on the company’s performance during the third quarter of the year, Mr. Kerastaris said that INTRALOT kept on streamlining its global operations and expanding its presence in a number of markets. For instance, it extended its existing contract with the state of New Mexico by 8 years and penned a new agreement with Nigeria.
The executive also noted that INTRALOT is to proceed with the integration of the CRM platform by Bit8, an asset that Mr. Kerastaris said would most definitely prove to be a valuable one on the company’s B2C front.
