Publishing full year 2016 financial results, gambling and lottery systems provider, Intralot Group, has announced that its operations are starting to ‘reap the rewards of its business transformation’.
The group has notably posted a seven percent increase in revenues from E1.25bn up to E1.32bn. The company has stated that such progress had been boosted by new gaming systems and product terminals being rolled out through a range of international clients, leading to ‘visibility gains alongside financial ones’. Equally positive is the posting of E233m in group profits resulting in a full-year EBITDA of E175m, a 6.6 percent increase on 2015’s E165m.
European markets were a particular driver most notably performances in Turkey and Bulgaria, which between them contributed upwards of E155m in lottery sales. North America also showed encouraging signs for the Athens-listed firm, where E22m sales were recorded.
Intralot CEO Antonios Kerasstaris 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.”