Intralot hails M&A strategy as finances rise in 2016

Intralot has cited its ongoing merger and acquisition strategy as one of the main reasons behind year-on-year growth across key financials in the 12 months to December 31, 2016.

Revenue came in at €1.32 billion ($1.42 billion), which represents an increase of 71% on the €1.24 billion achieved in the previous year.

Numerical games served as the largest contributor to group turnover with a share of 42%, while sports betting was responsible for 41.6%.

Intralot was able to record a year-on-year rise in earnings before interest, tax, depreciation and amortisation (EBITDA), which increased 6.6% to €175.8 million, with a level margin of 13.3%.

However, Intralot did note that gross profit fell slightly to €233.1 million, while earnings before tax amounted to €4.8 million, down 90% on the previous year.

Antonios Kerastaris, chief executive of Intralot, said: “The strongly positive results of 2016 in both growth and profitability reflect important transformations that have taken place over the past couple of years across operational capabilities, project management, cost structure, and Products and Services portfolio investments.

“A series of M&A transactions greatly enhanced our business development potential through strong local partnerships and diversified portfolio offering.

“The past year was also marked by tremendous improvements in Intralot’s financial structure in a way that secures future savings and a clear funding horizon until 2021 while affirming international investors’ confidence in future value creation.”

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