INTRALOT announces Revenue on par (+0.5%), consolidated EBITDA contraction (-6.6% y-o-y) following FX turmoil in key markets, and stable organic EBITDA y-o-y for 9M18
INTRALOT SA (RIC: INLr.AT, Bloomberg: INLOT GA), an international gaming solutions and operations leader, announces its financial results for the nine-month period ended September 30th , 2018, prepared in accordance with IFRS.
OVERVIEW
- Revenue and EBITDA growth of +10.3% and +9.3% year over year respectively on a constant currency basis.
- Group Revenues at similar levels in 9M18, compared to 9M17 (+0.5%).
- EBITDA in the nine-month period lower by 6.6% year over year.
- EBITDA margins on sales and on GGR contracted by 1.1pps (at 14.4%) and 1.5pps (at 28.6%), respectively.
- EBT concluded to €46.3m higher by 85.2% vs. 9M17. EBT margin developed to 5.8% (+2.7pps vs. 9M17).
- NIATMI (Net Income After Tax and Minority Interest) from continuing operations improved by €11.7m vs. last year, developing to €-11.0m.
- Operating Cash Flow in 9M18 below last year by €-60.2m.
- Net Debt stood at €598.5m, up €87.8m compared to December 31st 2017.
- On September 5th, 2018, INTRALOT announced the signing of a 10-year contract with the German State Lottery “LOTTO Hamburg GmbH” for the provision of a new Lottery System Platform based on LotosX.
- On October 10th INTRALOT announced a 10-year contract with the Croatian State Lottery “Hrvatska Lutrija” for the implementation of the new integrated LotosX ecosystem and the provision of operational support.
- In late October 2018, INTRALOT signed a 2-year contract extension with the New Mexico Lottery along with the green light to be the provider of the New Mexico Sports Lottery Game available through the Lottery’s entire retail network.
- On November 21st, 2018, Inteltek, the business partnership of Turkcell and Intralot, capitalizing on 15 years of successful operation of the iddaa game, announced its plans for the creation of a global research and software development center in the area of mobile games in Turkey.
1Q18 INFOGRAPHIC
Group Headline Figures
| (in € million) | 9M18 | 9M17 | % Change |
3Q18 | 3Q17 | % Change |
LTM |
| Revenues (Turnover) | 798.6 | 794.7 | 0.5% | 251.0 | 260.0 | -3.5% | 1,108.1 |
| GGR | 401.3 | 409.3 | -2.0% | 125.7 | 135.5 | -7.2% | 571.1 |
| EBITDA | 114.9 | 123.0 | -6.6% | 34.8 | 40.9 | -14.9% | 163.4 |
| EBITDA Margin (% on Revenue) | 14.4% | 15.5% | -1.1pps | 13.9% | 15.7% | -1.8pps | 14.8% |
| EBITDA Margin (% on GGR) | 28.6% | 30.1% | -1.5pps | 27.7% | 30.2% | -2.5pps | 28.6% |
| Adjusted EBITDA1 | 89.7 | 93.7 | -4.3% | 26.1 | 31.2 | -16.6% | 127.1 |
| EBT | 46.3 | 25.0 | 85.2% | 13.8 | 7.5 | 85.3% | 31.6 |
| EBT Margin (%) | 5.8% | 3.1% | +2.7pps | 5.5% | 2.9% | +2.6pps | 2.9% |
| NIATMI from continuing operations | -11.0 | -22.7 | 51.5% | -7.9 | -7.1 | -11.3% | -46.9 |
| NIATMI from total operations | -11.0 | -32.0 | 65.6% | -7.9 | -6.2 | -27.4% | -32.4 |
| Total Assets | 929.3 | 1,333.1 | - | - | - | - | - |
| Gross Debt | 749.8 | 987.0 | - | - | - | - | - |
| Net Debt | 598.5 | 497.0 | - | - | - | - | - |
| Operating Cash Flow | 60.3 | 120.5 | -50.0% | 23.6 | 43.3 | -45.5% | 93.8 |
INTRALOT Group CEO Antonios Kerastaris noted:
“INTRALOT has successfully won new projects in the past two months such as Lotto Hamburg and the Croatian Lottery as well as extended its New Mexico contract in the US; in the latter case including approval for a new sports prognostics game, available through the entire retail footprint of the lottery. All these projects will apply new technological solutions developed by INTRALOT, reflecting the positive prospects created by our significant investments in the last two years. We are also looking forward to the commencement of our operations in Illinois, a project that has heavily impacted our financials in 9M18. Such developments confirm our positive outlook after the current transition year according to our business plan.”
You can find the full report here
About INTRALOT (www.intralot.com)
INTRALOT, a public listed company established in 1992, is a leading gaming solutions supplier and operator active in 51 regulated jurisdictions around the globe. With €1.1 billion turnover and a global workforce of approximately 5,100 employees (3,100 of which in subsidiaries and 2,000 in associates) in 2017, INTRALOT is an innovation – driven corporation focusing its product development on the customer experience. The company is uniquely positioned to offer to lottery and gaming organizations across geographies market-tested solutions and retail operational expertise. Through the use of a dynamic and omni-channel approach, INTRALOT offers an integrated portfolio of best-in-class gaming systems and product solutions & services addressing all gaming verticals (Lottery, Betting, Interactive, VLT). Players can enjoy a seamless and personalized experience through exciting games and premium content across multiple delivery channels, both retail and interactive. INTRALOT has been awarded with the prestigious WLA Responsible Gaming Framework Certification by the World Lottery Association (WLA) for its global lottery operations.
1 Calculated as Proportionate EBITDA of fully consolidated entities including EBITDA from equity investments in Italy, Peru, Greece, and Taiwan
Source: INTRALOT
Company Contacts
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Phone: +30-210 6156000
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