INTRALOT Group today announces its financial results for the nine-month period ending September 30th 2015, prepared in accordance with IFRS.

In 9M15 INTRALOT’s Consolidated Revenues grew by 3.8%, to €1,379.8m from €1,329.5m in the same period of 2014, representing an increase of €50.3m. On a continuing business basis Revenues (mainly adjusted for Opap, Romania and Victoria contracts) in the first 9 months of 2015 were shaped at €1,368.4m, +7.2% compared to the same period last year. Net of a positive FX impact of €47.0m, revenues reached €1,332.8m, posting an increase of 0.2% versus 9M14. Revenues for the 3Q15 period remained relatively unchanged compared to 3Q14 at €421.2m vs. €424.0m in 3Q14.

EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) in 9M15 was shaped at €131.9m from €131.6m in 9M14 (+0.2%). On a continuing business basis EBITDA in 9M15 was shaped at €128.0m, +20.4% compared to 9M14. Net of a positive FX impact of €5.4m, EBITDA reached €126.5m, posting a decrease of 3.9% compared with the same period of 2014. In 3Q15 EBITDA developed to €44.7m, an increase of 5.9% compared to 3Q14.

EBT (Earnings Before Tax) in the first 9 months of 2015 decreased to €18.0m from €27.3m in 9M14. On a continuing business basis EBT in 9M15 was shaped at €14.3m from €3.0m in the same period of 2014. Net of a positive FX impact of €3.2m, EBT reached €14.8m from €20.4m, posting a decrease of 27.6% y-o-y.

NIATMI (Net Income after Tax & Minorities Interest) in 9M15 was shaped at a negative €50.4m compared to €-32.1m in 9M14. On a continuing business basis NIATMI in 9M15 was shaped at €-52.4m vs. €-49.3m in 9M14. Net of a positive FX impact of €2.0m, NIATMI reached €-52.4m from €-38.9m in 9M14.

Operating Cash-flow in the 9M15 period totaled €64.8m from €94.1m in 9M14. This decrease is caused by mostly one-off working capital requirements in 1H15. Net Capex in 9M15 accumulated to €53.7m, compared to €42.6m in 9Μ14. Net Debt as at 30 September 2015 developed at €484.1m, increased by €102.7m compared to 31 December 2014 (€381.4m).

Concerning the parent company, Revenues for the period decreased by 18.1%, to €52.8m. EBITDA increased by 147.1% to €37.2m from €15.0m in 9M14. Earnings After Taxes (EAT) decreased to €-8.2m from €-7.4m in 9M14.

Commenting on 9M15 results INTRALOT Group CEO, Mr. Antonios Kerastaris, noted: “We are pleased with the 3Q results that are in line with our expectations for stable growth of our business. EBITDA grew by 6% compared to 3Q14, despite the ailing performance of Italy due to extraordinarily high, country specific, payouts, which led the Italian business to contribute marginally to our EBITDA, the weak performance of Azerbaijan, the fall-off of the Romanian contract and the effect of the World Cup last year in both the second and third quarters.

I would like to point out that the majority of our subsidiaries reported strong results coupled with our new contracts in Wyoming, Ohio and Georgia, in the US, thus leading to an increase of our EBITDA on a like for like basis by 15.8% in the nine months of 2015.

During the third Quarter, we continued streamlining our global operations and unfold our selective expansion plans. We renewed our presence in New Mexico, US, for 8 years, where we have an excellent cooperation with the State Lottery since 2006 and signed a new 10 year contract in Nigeria, a very dynamic African market. Our focus on licensed operations remains strong, as we proceed with the integration of Bit8 CRM platform that will be a valuable asset on the B2C front of our business.

Finally, it is important to note that we ratified our commitment to sustainable growth, as we have recently been awarded with the WLA Responsible Gaming certification as a gaming vendor.”

About INTRALOT
INTRALOT, a public listed company, is the leading supplier of integrated gaming and transaction processing systems, innovative game content, sports betting management and interactive gaming services to state-licensed gaming organizations worldwide. Its broad portfolio of products & services, its know-how of Lottery, Betting, Racing & Video Lottery operations and its leading-edge technology, give INTRALOT a competitive advantage, which contributes directly to customers’ efficiency, profitability and growth. With presence in 57 jurisdictions, about 5.400 people and revenues of €1,85 billion for 2014, INTRALOT has established its presence on all 5 continents.

For more info: Ms. Persa Kartsoli, Group Director of Corporate Communications, Phone: +30-210 6156000, Fax: +30-210 6106800, email: kartsoli@intralot.com - www.intralot.com