Intralot hails regional growth as revenue climbs in Q1

Intralot has cited the performance of it regional divisions in areas around the world as the main reason behind a year-on-year increase in revenue during the three months to March 31, 2017.

Reported consolidated revenue for the first quarter came in at €367.9 million ($413.2 million), up 20.6% on the €305 million posted in the corresponding period last year.

Revenue in Europe was up €32.1 million, mainly due to increased sales in both Belgium and Poland, while Intralot’s operations in North and South America generated an additional €16.5 million in revenue.

Gross profit jumped 7.3% year-on-year to €63.2 million, while earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 4.2% to €46.5 million, with a slightly lower margin of 12.6%.

Elsewhere, earnings before tax hiked 72.4% to €18.1 million, with an improved margin of 4.9%, although net debt increased by €14 million to €580.9 million, due to higher investment outflow in the quarter.

Antonios Kerastaris, chief executive of Intralot, said: “Robust revenue growth and improved profits registered in Q1 are driven by our strategic decisions to focus on key markets as well as products and services portfolio diversification.

“All the transformational initiatives undertaken over the last two years are depicted both at profit and cash-flow levels, considerably improved from a year ago.

“With a significantly improved financial structure and operational performance, we are also reaping the fruits of lower debt servicing costs and enhancing our credit grade outlook by rating agencies that boost our confidence going forward.”

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