Intralot chief hails ‘portfolio reorganisation’ as finances rise

Antonios Kerastaris, the chief executive of Intralot, has cited the company’s focus on reorganising its portfolio as the main reason behind a year-on-year increase in key finances during the six months through to June 30.

Revenue in the first half totalled €636.9 million ($711.7 million), up 2.9% from €618.9 million in the corresponding period last year.

Gross profit climbed 2.7% year-on-year to €119.2 million, with earnings before interest, tax, depreciation and amortisation (EBITDA) up 10.9% to €88.9 million, with an improved margin of 14%.

In particular, Kerastaris paid tribute to Intralot’s performance in the second quarter, during which revenue climbed 13.3% to €331.9 million, with gross profit also up 10.4% to €60.3 million.

Intralot also noted that EBITDA during the three months to June 30 amounted to €44.4 million, up 17.1% on the previous year, at an improved margin of 12.9%.

“Intralot’s second-quarter results reflect the impact of successful efforts in portfolio reorganisation through a dynamic roadmap of new products and services and the geographical rebalancing of our presence, assisted by completed organisational changes and cost containment,” Kerastaris said.

“We are particularly encouraged by high growth rates in mature markets such as the US as a clear sign of competitiveness gains and we are committed to further business development in North America and other promising regional markets such as Africa and East Asia.”

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