Improved profitability boosts Intralot Q1 results
Greek lottery and gaming operator saw EBITDA rise by a third compared to same period last year
Intralot posted another strong set of results with a 32.1% rise in EBITDA to 55.1m for the first quarter of 2013 despite turnover rising just 2.5% to 355.8m.
The Greek lottery and gaming operator said its focus on improving profitability and cash flow generation from its existing projects saw strong growth in its bottom line during the period. The company did not break out numbers for its interactive division, but did point to the successful launch of bingo and ‘virtual gaming’ in Italy during the period.
Intralot, which was one of the first operators to launch slots in Italy late last year, had a 0.8% market share in the Italian bingo market in the latest data released by Italian regulator AAMS.
Group CEO Constantinos Antonopoulos said he was pleased with the results and pointed to operating cash flow growth of 24% and a rise in net profit of 17% as two other highlights.
“[The rise in profits] reflects our strategy to improve the profitability of our existing projects and the contribution of new projects such as the VLT monitoring system in Victoria, Australia and sports betting in Azerbaijan,” he said.