Home Supporting structure Intralot US contracts are the biggest contributors to EBITDA in latest trading report

Intralot US contracts are the biggest contributors to EBITDA in latest trading report

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Intralot SA is confident in achieving its 2021 financial targets, as the group announced the commercial benefits of a reorganized structure supporting a resumption of activity for all units in its 2021 nine-month financial report.

For the nine months ended September 30, 2021, Intralot recorded cumulative revenue of $ 342.6 million, up 24% from fiscal 2020 of $ 274.8 million.

The Athens-listed tech group noted that its revenue growth was driven by a $ 29.4 million third-quarter revenue increase from its licensed B2C operations. Unit performance was supported by the return of favorable post-pandemic market conditions in Argentina (+ 64%) and Malta (+ 30%).

Intralot has also benefited from the continued growth of B2B technology and support services in North America as the Intralot Inc The unit saw a $ 24.3 million (+ 23%) increase in revenue, with US contracts reporting increased sales, with customers looking to win big jackpots.

The firm highlighted the refined performance of its bilyoner managed contract, as the Turkish sports betting contract saw a revenue increase of $ 7.7 million in the third quarter, despite a significant drop in the Turkish lira (-28%) against the euro.

Intralot explained that group-wide operating costs remained at $ 76.9 million, more than expected by its cost reduction initiative due to the expenses of the ‘new contract’ in Belarus and Croatia. .

To date, Intralot’s nine-month EBITDA stands at $ 93.9 million, an 82% improvement from 2020’s 50.8 million, with US operations driving the EBITDA contribution the highest of the period.

Highlighting its continued recovery, the company noted that operating cash flow from operations reached $ 94.9 million (YTD2020: $ 27.1 million), helping it report a cumulative profit of 64, $ 2 million, offsetting losses of $ 59.9 million in 2020.

Chairman and CEO Sokratis P Kokkalis commented: “The nine-month results reflect the continued strong operational performance combined with the positive impact of the capital structure optimization agreement concluded in early August.

“The solid improvement in cash flow generation and high EBITDA margins, bolstered by the reduction in future debt servicing costs, highlight Intralot’s strengthened overall financial profile and its prospects for further growth opportunities through strategic partnerships. “