INTRALOT S.A.
Increased earnings - Impressive international expansion .
INTRALOT SA today announces its financial results for the nine-month period ending September 30th 2007, prepared in accordance with IFRS.
Consolidated Revenues for the period reached Euro 568.7m (9M06: Euro 572.8m). EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) reached Euro 179.9 m (Euro 185.6m in 9M06). Earnings Before Taxes (EBT) Euro 152.5m, compared (Euro 172.5m in 9M06). Earnings after Taxes and after minorities (EAT-am) increased by 4.2% y-o-y to Euro 85.5m, from Euro 82.0m in 9M06.
International Revenues for the INTRALOT Group amounted to Euro 492m, or 86.5% of total Group turnover compared to 73.4% in 9M06.
Concerning the parent company, revenues reached to Euro 135.9m in 9M07, (9M06: Euro 169.2m). EBITDA were Euro 55.6m from Euro 89.1m in 9M06. Earnings Before Taxes (EBT) reached Euro 96.9m in 9M07, posting a 8.7% y-o-y increase (9M06: Euro 89.1m), while Earnings After Taxes (EAT) reached Euro 82.6m in 9M07 posting a 35% y-o-y increase (Euro 61.2m in 9M06).
Commenting on the above results INTRALOT's CEO, Mr. Constantinos Antonopoulos, stated: "The results for the nine month period of 2007 were very successful for INTRALOT since the Company managed to grow net profits during this period, although it had a hard comparison due to the Football Word Cup that took place in Q2 and Q3 last year and despite the fact that the Company has encountered increased set up costs by major contracts that are in the implementation or start-up phase.
Since our last conference call, INTRALOT further expanded its presence in the Australian market by winning a 10-year license in Victoria to operate lottery and instant games, opening a market after a 54-year monopoly. The company also strengthened its position in the US market by signing its fourth contract with the New Mexico Lottery. Moreover, INTRALOT commenced operations in South Africa, successfully overcoming a legal dispute caused by a competitor.
The Company, taking steps towards a more efficient capital structure, launched with major financial institutions a Euro 300 million syndicated revolving credit facility (RCF) for the refinancing of existing indebtedness, potential acquisitions and investments in different projects. The RCF is expected to be completed within the next few weeks.
Moreover, the Company will distribute an interim dividend of Euro 0.15 per share (Euro 0.30 before the stock split), despite high start-up costs weighing on results this year and increased capex needs for numerous projects. Finally, the Company recently proceeded to a stock split, which is indicative of management's expectations regarding the future of the Company and the significant opportunities that lie ahead in the sector."
Consolidated Revenues for the period reached Euro 568.7m (9M06: Euro 572.8m). EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) reached Euro 179.9 m (Euro 185.6m in 9M06). Earnings Before Taxes (EBT) Euro 152.5m, compared (Euro 172.5m in 9M06). Earnings after Taxes and after minorities (EAT-am) increased by 4.2% y-o-y to Euro 85.5m, from Euro 82.0m in 9M06.
International Revenues for the INTRALOT Group amounted to Euro 492m, or 86.5% of total Group turnover compared to 73.4% in 9M06.
Concerning the parent company, revenues reached to Euro 135.9m in 9M07, (9M06: Euro 169.2m). EBITDA were Euro 55.6m from Euro 89.1m in 9M06. Earnings Before Taxes (EBT) reached Euro 96.9m in 9M07, posting a 8.7% y-o-y increase (9M06: Euro 89.1m), while Earnings After Taxes (EAT) reached Euro 82.6m in 9M07 posting a 35% y-o-y increase (Euro 61.2m in 9M06).
Commenting on the above results INTRALOT's CEO, Mr. Constantinos Antonopoulos, stated: "The results for the nine month period of 2007 were very successful for INTRALOT since the Company managed to grow net profits during this period, although it had a hard comparison due to the Football Word Cup that took place in Q2 and Q3 last year and despite the fact that the Company has encountered increased set up costs by major contracts that are in the implementation or start-up phase.
Since our last conference call, INTRALOT further expanded its presence in the Australian market by winning a 10-year license in Victoria to operate lottery and instant games, opening a market after a 54-year monopoly. The company also strengthened its position in the US market by signing its fourth contract with the New Mexico Lottery. Moreover, INTRALOT commenced operations in South Africa, successfully overcoming a legal dispute caused by a competitor.
The Company, taking steps towards a more efficient capital structure, launched with major financial institutions a Euro 300 million syndicated revolving credit facility (RCF) for the refinancing of existing indebtedness, potential acquisitions and investments in different projects. The RCF is expected to be completed within the next few weeks.
Moreover, the Company will distribute an interim dividend of Euro 0.15 per share (Euro 0.30 before the stock split), despite high start-up costs weighing on results this year and increased capex needs for numerous projects. Finally, the Company recently proceeded to a stock split, which is indicative of management's expectations regarding the future of the Company and the significant opportunities that lie ahead in the sector."