Intralot sees its H1 revenue fall by 14% annually

Updated:2024-03-20 10:39    Views:68

Key stats:

- H1 revenue falls by 14%  

- However, EBITDA for H1 rises 14%

- Intralot’s market cap sits at €233.9m

Intralot’s revenue for Q2 2023 is down 20% on Q2 2022, with its Q2 2023 sum sitting at €85.8m ($93.4m). Furthermore, its gross gaming revenue (GGR) also fell in Q2, totalling €80.2m – representing a 10% annual loss.

Moving on to Intralot’s EBITDA, the company posted a figure of €29m – unmoved year-on-year, when it posted the same sum.

For the last 12 months, its EBITDA has reached €130.6m, while revenue sits at €363.2m and its GGR at €339m.

For H1, Intralot recorded €175.3m in revenue for 2023, a 14% drop on H1 2022’s €204.8m – with its GGR for H1 totalling €163.6, down 3% on H1 2022’s €168.5m.

Intralot’s H1 EBITDA, however,Casino games rose annually to €62.8m, representing a 14% increase from H1 2022’s €55.1m.

Meanwhile, net debt decreased from €508.7m in H1 2022, now totalling €480.5m for H1 2023.

Since the beginning of 2023, Intralot has seen its share price endure an unpredictable time, with its high coming on 16 February at €0.78 and its low on January 3, when it fell to €0.50. At the time of writing, the price sits at €0.62, with a market capitalisation of €233.9m.

Sokratis P. Kokkalis, Intralot’s Chairman and CEO, stated on the company’s figures: “Intralot’s results for the first half of 2023 show continuing EBITDA growth of 14% and healthy cash flows as the company consistently focuses on higher profit margin activities and lower leverage ratios.

“These developments allow us greater confidence in refinancing our upcoming maturities with an improved credit profile and address significant opportunities in the US and around the globe.“