INTRALOT announces +34.4% Revenue Growth and +106.5% EBITDA increase in 1H2021 Results

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INTRALOT Chairman & CEO Sokratis P. Kokkalis noted: “INTRALOT’s strong performance continued into the second quarter of 2021, resulting in 106.5% growth of EBITDA in the first six months of 2021 and 34.4% growth in revenue. These financial results, in combination with the completion of INTRALOT’s debt restructuring in the beginning of August, set the Company in a stable course to fulfill its potential in its key markets, build new partnerships, and tap on new opportunities under its new, significantly deleveraged capital structure, with a leaner operating model."

“INTRALOT announces +34.4% Revenue Growth and +106.5% EBITDA increase in 1H2021 Results”

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September 10th, 2021 INTRALOT SA (RIC: INLr.AT, Bloomberg: INLOT GA), an international gaming solutions and operations leader, announces its financial results for the six-month period ended June 30 th, 2021, prepared in accordance with IFRS.

OVERVIEW PRESS RELEASE

Group Revenue at €202.6m in 1H21 (+34.4% y-o-y).

EBITDA in 1H21 at €54.3m (+106.5% y-o-y), while Adjusted EBITDA at €46.8m (+99.1% y-o-y). Q-o-Q growth of EBITDA at +18.1%, while LTM EBITDA rose to €93.8m, up by 42.5% vs. FY20, on a continuing basis.

NIATMI (Net Income After Tax and Minority Interest) from continuing operations at €-17.6m, improved by 57.8% compared to a year ago.

Our operations under US entity Intralot Inc., achieved very strong growth y-o-y (Revenue +28.6%, EBITDA +69.8%) in the first half of 2021. Greek entities OPEX better by 20.3% y-o-y, without taking into consideration the capital structure optimization expenses.

Operating Cash Flow at €51.3m in 1H21 (+183.4% y-o-y).

Group Net CAPEX in 1H21 was €9.5m, lower by 37.5% compared to a year ago.

Group Cash at the end of 1H21 at €83.2m. Net Debt at €646.1m at the end of 1H21.

The COVID-19 pandemic impact for 1H21 has been contained in the vicinity of c. €1.5m at Group’s EBITDA level.

On August 3rd, 2021, INTRALOT announced the completion of the two consensual exchange offers resulting in extension of its 2021 Notes maturities by at least three years and achieving a total deleverage of €163m.

On August 24th, 2021, Fitch upgraded INTRALOT’s IDR to CCC+ and on September 9 th, 2021, Moody’s upgraded INTRALOT’s CFR to Caa1, as a result of its new capital structure.