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Intralot 2023 Results: Economic Stability and Growth in the Gaming Industry Despite Challenges

 
Intralot 2023 Results: Economic Stability and Growth in the Gaming Industry Despite Challenges
INTRALOT has released its financial results for FY23, showcasing an increase in operating expenses and EBITDA, alongside a series of significant developments within the company. Despite challenges in the economic and geopolitical landscape, revenues and margins demonstrate positive growth.
INFOPLAY/ COMUNICADO |
Operating Expenses and EBITDA:

Total Operating Expenses rose by €14.3 million (+14.3%) in FY23 compared to FY22, primarily due to increased Opex in Turkey and rising expenses in the USA. Quarterly Operating Expenses increased by €8.1 million (+27.2%) in 4Q23 compared to 4Q22.

Other Operating Income increased to €30.4 million, a 22.2% y-o-y increase. Quarterly Other Operating Income increased by 25.6%.

EBITDA reached €129.5 million in FY23, a 5.4% increase compared to FY22. Despite challenges such as Argentinian Peso devaluation and FX impacts in the USA, improved results in Turkey, Croatia, and Taiwan contributed to this growth. EBITDA margin on sales increased by 4.3pps compared to 2022.

Quarterly EBITDA decreased by €6.4 million (-18.3%), with EBITDA margin on sales declining by 4.4pps.

EBT / NIATMI:

EBT for FY23 amounted to €33.6 million, compared to €29.8 million in FY22. NIATMI concluded at €5.8 million in FY23 compared to €11.9 million in FY22.

Cash Flow:

Operating Cash-flow significantly increased to €112.5 million in FY23, driven by enhanced EBITDA, favorable working movement, and lower taxes paid.

CAPEX in FY23 was €29.7 million, with US projects consuming the majority of CAPEX needs.

Net Debt decreased to €333.2 million as of December 31st, 2023, resulting in a net debt/EBITDA ratio of 2.6x at YE23. Recent deleveraging actions and strong cash flow generation strengthened the company's capital structure. INFORM
18+ | Juegoseguro.es – Jugarbien.es
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