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As the Athens-based gambling technology company aims to expand its US market profile, Intralot SPA reports a considerable improvement in trading, with growth across all business segments.
Intralot reported group revenues of €202 million for the first half of 2021 (month ending 30 June), up 34percent over the same period in 2020 (€150 million).
Intralot’s resurgent Americas business division contributed to sales growth, with revenues up 33percent to €106 million (H12020: €80 million).
US technology contracts
Highlights from the year included a €15 million (+24 percent) increase in revenue from US technology contracts, as the Intralot INC subsidiary profited from clients promoting a ‘significant jackpot in January 2021 and higher merchandise sales.’
Intralot maintained static European market revenues of €77 million despite COVID19 winter headwinds. However, the group’s income results for its Malta-licensed activities (+€15 million) and the Turkish Bilyoner contract (+€6.5 million) also improved.
Intralot’s Brazil and Bulgaria businesses were totally decommissioned, allowing the company to achieve operating cash flow of €51 million.
Expansion of US activities
H1 EBITDA was €54 million, up 106 percent from the same period in 2020, when it was €26 million, thanks to the firm’s extremely robust expansion of US activities.
Group Chairman Sokratis P. Kokkalis said: “Intralot’s strong performance continued into the second quarter of 2021, resulting in 106.5% growth of EBITDA in the first six months of 2021 and 34.4% growth in revenue.
“These financial results, in combination with the completion of Intralot’s debt restructuring in the beginning of August, set the Company in a stable course to fulfill its potential in its key markets, build new partnerships, and tap on new opportunities under its new, significantly deleveraged capital structure, with a leaner operating model.”