INTRALOT Group Chairman & CEO Sokratis P. Kokkalis noted: “The second quarter results, although still absorbing the business impact of last year’s negative developments, reflect improvement in operating cash flows and liquidity by successfully implementing our three-pillar strategy for operational improvements, new business, and non-core asset disposals. We successfully completed the delivery and transition to the Lotos X new central system for our historic client OPAP in July, and came to an agreement with OPAP for the disposal of our 16.5% participation in Hellenic Lotteries for a consideration of €20.0m. The renewal of our contract with the DC Lottery to include Sportsbetting and the award of a new Sportsbetting contract in Morocco demonstrate INTRALOT’s readiness to tap fresh opportunities with cutting-edge new technological solutions.” READ THE ENTIRE REPORT HERE
READ THE ENTIRE REPORT HERE
“INTRALOT announces steady y-o-y improvement in the Group’s operating cash flow, as the Company further absorbs business transition impact”
August 30 th, 2019 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 30th, 2019, prepared in accordance with IFRS.
OVERVIEW PRESS RELEASE Group Revenue at € 378.1m in 1Η19 (-7.6% y-o-y).
EBITDA in the six-month period at €58.7m (-15.9% y-o-y), with Adjusted EBITDA at €60.4m (- 1.8% y-o-y).
Revenue and EBITDA contraction of -0.7% and -4.4% year over year respectively on a constant currency basis.
EBITDA margins on sales/ GGR at 15.5% (-1.6pps) and 26.9% (-3.9pps), respectively. EBT at €2.0m, while EBT margin developed to 0.5%.
NIATMI (Net Income After Tax and Minority Interest) from continuing operations developing at €-27.3m.
Operating Cash Flow at €49.0m in 1H19, increased by €12.3m compared to last year.
Net Debt stood at €652.4m, up €37.1m compared to December 31st 2018, affected also by the application of the IFRS16 standard.
On June 13th, 2019, INTRALOT Group announced the signing of a new contract with La Marocaine Des Jeux et des Sports (MDJS), the state sports lottery Organization of Morocco. The contract is for an initial 8-year term that can be extended up to another 2 years.
In July 2019, INTRALOT successfully completed the delivery and transition to the Lotos X new central system for its historic client OPAP.
In July 2019, INTRALOT and OPAP signed a binding MOU for the transfer of the shares held by INTRALOT in Hellenic Lotteries to “OPAP Investment Limited”, for a price of €20.0m.
In late July 2019 INTRALOT Group announced the renewal of its existing contract with the Washington DC Lottery, for 5 years with a 5-year extension option, with the addition of sport betting wagering. In July 2019, Gamenet announced €78.8m EBITDA for 1H2019, an 80.5% increase compared to 1H2018.
In August 2019, INTRALOT Inc. has renewed its credit facility with Bank of America extending it to US$40.0m.