Intralot narrows losses as first half revenue tops €204m
INTRALOT announces its financial results for the six-month period ended June 30th, 2022.
Group revenue at €204.8m in 1H22 (+1.1% y-o-y). EBITDA in 1H22 at €55.1m (+1.4% y-o-y), incorporating the positive impact from the cost containment actions at HQ level.
On a quarterly basis, 2Q22 vs. 2Q21, EBITDA contracted by 1.6%, while LTM EBITDA rose to €111.2m, up by 0.7% vs FY21 on a continuing basis. Net Income from continuing operations was €-6.1m, vs. €-17.6m a year ago.
Operating Cash Flow at €41.4m in 1H22 (-19.2% y-o-y). Group Net CAPEX in 1H22 was €10.5m, higher by 10.9% compared to a year ago. Group cash at the end of 1H22 at €116.4m. Net Debt at €508.7m at the end of 1H22.
INTRALOT Chairman & CEO Sokratis P. Kokkalis noted: “INTRALOT has recently completed a series of strategic transactions that included a Share Capital Increase of €129m with the participation of a new cornerstone investor, the gaining of control of 100% of Intralot Inc. in the US, and the refinancing of $254m of Notes issued by Intralot Inc. via a new Term Loan and RCF. These events in combination with continuing strong performance as reflected in the first half results put INTRALOT in a stable course to tap new strategic opportunities in developed markets.”