Intralot chairman Sokratis P. Kokkalis said the company is on a “stable course,” with a a 0.9 per cent drop in revenue for the first half of the year a prelude to “a large number of promising commercial opportunities in North America and Australia.”
Revenue hit €1736.6m, including total negative impact of €-10.3m in Argentina due to the exchange rate movement in December 2023.
Company adjusted EBITDA was €59.5m in H1, down 5.3 per cent year-on-year, with the EBITDA margin reaching 34.3 per cent.
Intralot said operating cash flow was €45m for the period.
“Half-year results confirm the company’s stable course and maintenance of key financial indicators at desired levels, in spite of FX headwinds and seasonality effects,” said Kokkalis.
“Strengthened by the group’s improved financial position, the company continues to deploy and take live its new advanced lottery engine, Lotos X, and further developing the entire lottery technology ecosystem in developed markets such as Canada.
“At the same time, we are currently pursuing a large number of promising commercial opportunities in North America and Australia while renewing the trust and cooperation with existing important clients such as in the Netherlands and in Ireland.”
Intralot said lottery games remain its largest contributor to group turnover with a share of 56.6 per cent, followed by sports betting at 22.5 per cent.
Video lottery terminals account for 12.1 per cent of group turnover and technology contracts have a share of 8.8 per cent.
