SBC News Intralot posts 'steady' 2017 trading eyeing new contract growth

Intralot posts ‘steady’ 2017 trading eyeing new contract growth

Presenting its year-to-date trading statement (period ending 30 September), Athens-listed industry gaming and lottery systems supplier Intralot SA has reported a strong corporate momentum, as the company reports growth across its core metrics.

For its YTD performance, Intralot reports a consolidated group revenue increase of 13% to €1,085 billion.

The company reported a strong Q3 sales performance in the US, assisted by growth within its new markets of Jamaica, Poland Morocco and Azerbaijan.

Intralot reports a 10% increase in its YTD EBITDA of €137 million, despite the company recording a 12% decrease of its earnings % margin impacted by ‘lottery contract’ changes.

Closing its trading period, Intralot governance declares total consolidated YTD group profits of €190 million. The company updates that as of November 2017, its corporate debt stands at €497 million

Last May, Intralot governance detailed that its was reviewing its strategic options to accelerate its growth in the markets of the USA and Turkey

Updating investors INTRALOT Group CEO Antonios Kerastaris stated

“Financial Results for the 9M2017 demonstrate steady progress in all three strategic goals set by the company, namely gains in Operational Performance, the implementation of M&A strategies to improve the profitability of our offering mix while facilitating investments in new products and projects, and Financial Profile Restructuring to secure long-term visibility. INTRALOT’s market potential has been manifestly recognized by the success of a 3x-oversubscribed €500m bond offering with 7 year maturity period in September 2017. This issue allowed INTRALOT to fully repay its syndicated loans to the Greek banking sector while the diverse mix of investors includes the majority of the highest caliber international investment houses and generates additional confidence and credibility for INTRALOT’s prospects.”

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