INTRALOT announces full year 2019 financial results
May 4, 2020 – INTRALOT SA (RIC: INLr.AT, Bloomberg: INLOT GA), an international gaming solutions and operations leader, announces its financial results for the twelve-month period ended December 31st, 2019, prepared in accordance with IFRS.
- Group Revenue at €720.6m in FY19 (-8.1% y-o-y).
- EBITDA in FY19 at €87.8m (-25.4% y-o-y), while Adjusted EBITDA at €68.7m (-21.0% y-o-y).
- Revenue and EBITDA contraction of -4.7% and -20.3% y-o-y respectively on a constant currency basis.
- EBITDA margins on sales/ GGR at 12.2% (-2.8pps) and 21.5% (-5.6pps), respectively.
- EBT at €-70.6m (EBT margin: -9.8%), impacted by increased D&A due to the increased CAPEX during the last two years for the launch of new projects mainly in the US
- NIATMI (Net Income After Tax and Minority Interest) from continuing operations at €-111.9m.
- Operating Cash Flow at €61.3m in FY19, lower by €27.3m y-o-y.
- Group Cash at the end of FY19 at €171.1m; higher by €8.6m vs. FY18.
- Net Debt at €594.1m, lower by €21.2m y-o-y.
- In early February, INTRALOT’s new terminal PhotonX has won the “Lottery Product of the Year” award at International Gaming Awards 2020
- On March 9th, 2020, the company announced its BoD decision that Mr. Sokratis Kokkalis, who remains Executive Chairman of the Board, stepped down as Group CEO and was succeeded by Mr. Christos Dimitriadis, effective 9 March 2020.
- INTRALOT successfully delivered its Sports Betting solution to the DC Lottery in late March, with official Go-Live postponed until the US leagues and events resume following the Covid-19 pandemic. INTRALOT’s Sports Betting solution in Montana has been launched in mid-March, just a few days before all US leagues and events were postponed due to the Covid-19 pandemic.
- By evaluating all available data in mid-April 2020, the Company’s best estimate on Covid-19 impact for 2020 is in the range of €25-30m at Group’s EBITDA level.
- On April 23rd, 2020, INTRALOT announced that it has retained Evercore Partners and Allen & Overy, as financial and legal advisors respectively, to review and implement strategic alternatives for the business
About INTRALOT (www.intralot.com)
INTRALOT, a public listed company established in 1992, is a leading gaming solutions supplier and operator active in 44 regulated jurisdictions around the globe. With €0.7 billion turnover and a global workforce of approximately 3,800 employees (2,200 of which in subsidiaries and 1,600 in associates) in 2019, INTRALOT is an innovation - driven corporation focusing its product development on the customer experience. The company is uniquely positioned to offer to lottery and gaming organizations across geographies market-tested solutions and retail operational expertise. The company has designed a new ecosystem of holistic omni-channel solutions across verticals (Lottery, Betting, Interactive, VLT) for Lotteries digital transformation. INTRALOT has been awarded the prestigious WLA Responsible Gaming Framework Certification by the World Lottery Association (WLA) and the WLA certificate for the Security Control standard.
Ms. Chryssa Amanatidou
Group Corporate Affairs Director
Telephone: +30-210 6156000
Fax: +30-210 6106800