Results at Intralot were mixed for the first six months of 2023, with EBITDA and cash flow up while revenue and turnover slipped.
Earnings before interest, tax, depreciation and amortisation (EBITDA) at Intralot grew 14.0% to €62.8m (£53.8m/$68.3m) during the first six months of the year.
However, revenue fell 2.9% year-on-year to €163.6m, while turnover for the period totalled at €175.3m, down 14.4%.
The turnover consists of the B2B revenue made from Intralot’s supplier business, along with stakes wagered by players through its B2C operator business.
After considering the €163.6m in revenue, Intralot then added €123.5m in technology and support services, €29.8m in management contracts and €22.0m in licensed operations to make up the turnover.
Cash flow for the six months improved by 20.2%, reaching €49.8m, which Intralot attributed to the improved EBITDA performance.
Looking at “significant opportunities” worldwide
Sokratis P Kokkalis, chairman and CEO of Intralot, said that the EBITDA and cash flow would aid Intralot in its expansion efforts in the US and beyond.
“Intralot’s results for the first half of 2023 show continuing EBITDA growth of 14.0% and healthy cash flows as the company consistently focuses on higher profit margin activities and lower leverage ratios,” remarked Kokkalis.
“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.”
During the half-year, Intralot signed a number of significant deals. These included a deal to provide the British Columbia Lottery Corporation (BCLC) with its Intralot Orion sports betting platform, as well as a long-term lottery deal with the Taiwan Public Welfare Lottery.
