Intralot Delivers Stable Profits in 2020 Despite Systemic Shocks

Intralot SA registered in Athens , released financial results for its 2020 financial year, prepared in accordance with IFRS, accounting for almost 19% decline in revenue after COVID significantly impacted the lottery and sports betting industry - 20 pandemic.

For the 14 month period ended December 34, 2020, within the party declared the group income of 364.8 million, a 16. A decrease of 6% in the fiscal year 19 s € 437.3 months.

Lottery Games contributed the most, including 60.6% of total revenue, followed by technology contracts contributing 16. 3%. Sports betting counts 16. 8%, VLT accounted for 7.6% while Racing accounted for 0.7% of total revenue.

The group reported gross gaming revenue. (GGR) of ongoing operations for FY 21 € 340.9 months, Decrease by 14% compared to fiscal year 19 s € 340.5 min.

Intralot maintained FY20 EBITDA, however a record of € 66. An increase of 2.5% over the prior year 66.6 million, while Adjusted EBITDA was € 60.8 min, an improvement of 5.9% over 2019 's € 52.7m. The estimate of its impact on the pandemic for 2020 is about € 31 m of EBITDA.

Chairman and CEO Sokratis P. Kokkalis commented, “During fiscal year 2020, we faced the adverse impact and disruption of the COVID - 20 pandemic, which had a significant impact on lotteries and sports betting. industry. This impact was only partially offset by mitigation measures, operational improvements and cost containment efforts.

“We continue to focus on Developed markets have seen significant growth in US lottery operations and we have launched two new sports betting operations in Montana and Washington DC, as well as significant contract extensions in Georgia, the US, and New Zealand, Australia and the Netherlands.

“The management of the company has also made significant efforts in negotiations with bondholders to optimize the capital structure through the transaction that is expected. to be completed during the first half of 2021. "

The reported internal party net income after tax and minority interests (NIATMI) from continuing operations of € - 104.1 million, an increase of 1.2% over the fiscal year 20 € - 105.4m.

The group's North American operations under Intralot Inc showed significant growth over the prior year, increasing revenue by 25.3% and EBITDA increasing 62.1%.

Group operating expenses within the bank in FY20 fared better thanks to 21.5% YoY, with Greek companies' OPEX lower by 7% YoY, excluding capital structure optimization costs. The group's net capital expenditures were € 42m, up 36.5% compared to last year, while the group received cash of € 100m and a net debt of 651.1 million.

Notably, early in 2021 Intralot completed the sale of its entire stake in 21% in Intralot de Peru SA, with a net cash refund after taxes and operating expenses of $ 17.2m. He also signed a three-year extension of his current contract with Intralot de Peru SA through 2024 to continue providing his gaming technology and support services.

In the fourth quarter of 2020, the total revenue of Intralot was € 107.4 months, which is 3.8% more compared to the same period of the previous year (2019: € 103.5m), GGR € 86m, up 11.5% (2019 : € 77.1 month), EBITDA of € 21 7 months. (2019: 4.7 million euros) and NIATMI in the amount of € - 42.9 months. (2019: € - 53.1 month).

The group noted that the increase in revenue for the quarter was primarily attributable to better US lottery results, coupled with slow growth in new US sports betting contracts, equipment sales in BCLC / Canada, Illi nois and the Netherlands, and improved performance Bilyoner fueled by strong growth in the online marketplace.

However, this improvement was partially offset by the persistent COVID - 20, as well as the renegotiation of commercial terms in Morocco and the Netherlands.

Related Articles