Intralot increased its revenue by 13.4% in  the 9 months of 2017 compared to the corresponding period of 2016.

According to the announcement, net profit after taxes and minority interests (NIAMM) from continuing operations improved by 39.6% compared to the previous year (€ -20.1 million in the first nine months of 2017 from € -33.3 million) the first nine months of 2016).

EBITDA earnings increased by 10.5% on an annual basis over the same period. o The EBITDA margin decreased by 0.4pps (to 12.6%). o The EBT margin stood at 3.5% (+ 1.5pps as compared to the first nine months of 2016).

Commenting on the results, INTRALOT Group CEO Antonios Kerastaris said:

“The results for the first nine months of 2017 show steady progress in all three strategic objectives set by the company: In particular, we see progress in the company’s operating performance, the performance of M & A agreements to improve the Group’s profitability and to promote new investments products and projects, and refinancing – restructuring of the Group’s debt obligations in order to safeguard the company’s positive prospects.

The dynamics of the INTRALOT Group were recognized by the markets ptemvrio 2017 after the significant success of the issue seven-year bonds and € 500 million., with their demand be reflected in all tenders which covered the issue by 3 times. The proceeds from the Bond Offer allowed INTRALOT to repay the existing Syndicated Loan to Greek banks. The fact that the mix of investors includes the majority of the largest international investment houses creates additional confidence and credibility for INTRALOT’s prospects. ”

In other key figures, the company experienced the following changes in nine months:

Cash Flows from Operating Activities moved to similar levels to the same period last year, to € 120.5 million (€ +10.1 million organic growth)

Net Borrowing stood at € 497.0 million, an increase of € 2.1 million compared to Net Debt as at 31 December 2016.

It is noted that in September 2017, INTRALOT proceeded to the successful pricing of the EUR 500 million Senior Notes ( 5,25% ) bond with a yield of 5,25% ending in 2024, completing a process of the last three years, through which INTRALOT’s borrowing costs were reduced, while extending the average borrowing time from 3.5 to 6 years.

In October 2017, INTRALOT withdrew from its operations in Jamaica. The amount of the transaction amounted to $ 40 million , which corresponds to almost 12 times the annual earnings after taxes attributable to INTRALOT’s shareholders.

Finally, in October 2017, INTRALOT agreed to acquire Bit8, a gaming company based in Malta, to which INTRALOT invested for the first time in 2015.