Intralot SA has praised its operational performance as the group’s trading benefited from a reorganised structure, resulting in an EBITDA increase of 82.5%.
Publishing its nine-month 2021 trading report, Intralot has registered group year-to-date revenues of €302.8m, up 24.4% on the previous year’s total of €243.4m.
For the nine-month period ending September 30th, the Athens-listed technology group state that top-line growth was driven by a €26m Q3 revenue uplift of its Licensed B2C Operations. Unit performance was boosted by the return of favourable post-pandemic market conditions in Malta, up 30% on last year and Argentina, up 60% on last year.
Lottery operations accounted for 60.7% of the firm’s revenue, whilst video lottery terminals accounted for 9.1%. Sports Betting contributed 17.5% to total turnover for the nine-month period whilst technology contracts accounted for 12.2% in the first nine months of the year.
Intralot capitalised from the continued growth of B2B Technology and Support Services within North America; the Intralot INC unit recorded a €21.5m increase in revenues as US contracts reported higher sales as customers chased significant jackpots.
To date, Intralot’s nine-month EBITDA stands at €82.6m, reflecting an 82.5% increase on 2020 comparatives of €45.3m.
Underscoring its continued recovery, the firm highlighted how operating cash flow from operations had increased to €84.2m from last year’s tally of €28.4m, helping Intralot declare year to date earnings of €56.8m, reversing comparative 2020 losses of €53.8m.
“The nine-month results reflect the continuing strong operational performance combined with the positive impact of the capital structure optimisation agreement achieved in the beginning of August,” noted Chairman & CEO Sokratis P Kokkalis.
“The robust improvement in the cash flow generation and high EBITDA margins enhanced by reduced future debt servicing costs, highlight Intralot’s strengthened overall financial profile and prospects to pursue new opportunities for growth through strategic partnerships.”