Intralot, the Greek gaming sector giant, presented last Friday its 2019 results and strategic plans for 2020 at a General Assembly held in Athens where Christos Dimitriadis, Group CEO and Intralot Group President, Sokratis Kokkalis, spoke with optimism of the second part of the year. In addition, in the last hours of yesterday, Thursday, the company presented its Financial Results for the first quarter of the year.
Intralot has presented its financial results for the first quarter of 2020 (from January 1 to March 31). Among the most outstanding aspects at the economic level, the following variables stand out:
- Group Revenue at €102.0m in 1Q20.
- EBITDA in 1Q20 at €15.8m, while Adjusted
- EBITDA at €13.7m.EBITDA margins on sales/ GGR at 15.5% and 20.5%, respectively.
- EBT at €-14.8m (EBT margin: -14.5%).
- NIATMI (Net Income After Tax and Minority Interest) from continuing operations at €-17.6m.
- Operating Cash Flow at €9.5m in 1Q20.
- Net CAPEX in1Q20 was €5.6m compared to €17.4ma year ago.
- Group Cash at the end of 1Q20 at €142.0m; higher by €7.4m vs. 1Q19.
- Net Debt at €611.1m, lower by €36.4m y-o-y.
In relation to the impact of the pandemic and by evaluating the latest available May 2020 data and known lockdown conditions per jurisdiction and the slow restart of sporting events, the Company’s best estimate impact for 2020 remains in the vicinityof €25m at Group’s EBITDA level.
And as for the most important milestones in this 2020, the most recent Intralot movements known in recent days should be highlighted:
- On May 11th, 2020, INTRALOT Group announced the launch of eSports betting for its partner Intralot de Peru, supporting the leading lottery operator in Peru to enhance its sportsbook and offer an elevated player entertainmentthrough content within one of the fastest growing segment of the online game market.
- On May 13th, 2020, INTRALOTannounced the launch of “Sports Bet Montana” in Montana of USA. INTRALOT deployed in Montana its new INTRALOT Orion sports betting platform toenable the Montana Lottery’s sports wagering self-service terminals and mobile sports wagering offering.
- On June 1st, 2020, INTRALOT and its U.S. subsidiary INTRALOT Inc., announced the launch of its Digital Sports Betting solution in Washington, DC.INTRALOT, as part of its current contract with the DC Lottery, deployed its new INTRALOT Orion sports betting platform to enable the GambetDC mobile and desktop sports betting offering
Full Report HERE
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