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Intralot says revenues up 15.1 pct in H1 2017

31 August 17 - RE+D Magazine
Intralot says revenues up 15.1 pct in H1 2017

COMPANIES

NAI Hellas

Consultant - GREECE

Zeus

Fund - GREECE

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Consultant - GREECE

ΕΡΡΙΚΟΣ ΑΡΩΝΕΣ

Investment - GREECE

ETAD.A.E.

Public entity - GREECE

PEOPLE

Intralot announced on Thursday that its revenues increased by 15.1 pct in the first half of 2017 compared to the same period last year.

 

EBITDA in the six month period grew by 3.6 pct year on year to 92.2 million euros. Net Debt stood at 16.8 million euros, up 21.9 million euros compared to December 31st 2016 as a result of the decision to invest in software (AMELCO) and Eurobet acquisition.

INTRALOT Group CEO Antonios Kerastaris noted: “Results for the first half of 2017, announced today, make it clear that this year represents a turning point for INTRALOT’s financial performance. Continued double digit revenue growth and profitability improvements are directly linked to reforms implemented in the previous year and more specifically to our M&A and partnership strategy.

Strong local partnerships offer portfolio diversification, local market knowledge, and an asset light structure in addition to economies of scale and new strong revenue streams. Significant progress and strong trust from our clients have registered in mature and very competitive markets such as the United States.

Recent renewals of flagship contracts in Ohio, Arkansas and Vermont secure our operational profitability and income visibility for the next 10 years, developing the US market into our biggest EBITDA contributor. The company’s ability to renew in a competitive market such as the US, on top of its historical renewal track record, creates fresh confidence for the extension of all contracts maturing in the next year. A recent filing for eligibility to float our shares in the Italian Stock Exchange by our local joint venture, Gamenet, also creates the prospects to capture and monetize the value of a key company asset.”

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