GTECH ‘met or exceeded’ key targets in 2013 despite losses

17 March 2014

Interactive gaming software and services provider GTECH said that despite suffering year-on-year falls in revenue, EBITDA and operating income during the 12 months to December 31, 2013, it still “met or exceeded” key performance objectives during the year.

The company posted full-year revenue of €3.06 billion ($4.26 billion) in 2013, a drop of 0.4% on the €3.08 billion achieved in the previous year.

GTECH also suffered a 0.5% drop in EBITDA while operating income dropped 4.1% from €583.1 million in 2012 to €559.1 million in the last 12 months.

The full-year results were not helped by a disappointing fourth quarter in which GTECH suffered a year-on-year revenue fall of 4.8%.

In addition, EBITDA fell 0.5% in the same period while operating income dropped 17.7% from €126.1 million in Q4 of 2012 to €103.8 million in the same quarter of 2013.

Marco Sala, chief executive officer of GTECH, said that despite the negative full-year and fourth-quarter results, the firm had still experienced a year of “significant gains”.

“During 2013, GTECH met or exceeded its key performance objectives and made significant gains in strategic growth segments while successfully executing a major reorganization,” Sala added.

“For the coming year, we expect to sustain our momentum as we build on these achievements.

“We continue to advance our interactive capabilities, notably in the mobile gaming space, to address some of the fastest growing areas of the market. We are also well positioned to secure new international operator opportunities.”

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