To consolidate global operations
Greek-owned gaming firm INTRALOT's revenues for the full year 2013 period have exceeded Euro 1.5 Billion, a key milestone for the company.
Key performance highlights for the year ending December 31, 2013 include:
– INTRALOT Group Consolidated Revenues increased by 12 percent to Euro 1,539.4 billion compared to 2012.
– Net of a negative FX impact of Euro 80.1 million, revenues reached Euro 1,619.5 million, an increase of 17.9 percent y-o-y.
– EBITDA increased by 9.7 percent reaching Euro 194.8 million.
– Net of a negative FX impact of Euro 8.9 million, EBITDA reached Euro 203.7 million, an increase of 14.7 percent y-o-y.
– EBT was shaped at Euro 53,6 million.
– EAT-am (Earnings After Taxes and after minorities) were shaped at Euro -4.6 million and was strongly affected by Euro 10.8 million of negative FX differences on an after tax and after minority level plus write-offs and provisions of Euro 13.7 million. Excluding such costs the Net Profit would have reached Euro 19.9 million in the FY 2013 period.
– Cash Flow from Operations reached Euro 81.3 million in the 12M, 2013 period.
– Net Debt in the same period decreased by Euro 30.7 million to Euro 397.2 million compared to 9M/2013, mainly due to improved operating cash-flow generation and capex easing in the last quarter of 2013.
– FX impact on cash for FY 2013 was Euro 22.6 million.
– Revenues for the parent company during FY2013 increased by 8.1 percent, to Euro 150.9 million.
– EBITDA increased by 5.8 percent to Euro 23.1 million.
– Earnings After Taxes (EAT) were shaped at Euro -0.1million.
INTRALOT Group chief executive officer Constantinos Antonopoulos, noted: "2013 was an important year for the Group, since we won several new contracts in Europe, Asia and Australia, and we renewed major contracts in the US, Europe and Asia. Moreover, we launched innovative products in the interactive and retail fields, such as the Mobile Lottery, Virtual Games, the Multi-channel Lottery, DreamTouch, iGEM and DeepStack Casino.
"In 2013 INTRALOT managed to deliver a strong set of financial results across the board and we are very proud of this. As the CEO of the Group I would like to comment on the future for which we have redefined our key priorities and I would like to focus on our recent internal corporate reorganization, which was performed with the assistance of The Boston Consulting Group.
"After many years of enduring success and strong global growth, we have decided to consolidate the company's global operations, products and services and technology, in order to create a more flexible and effective structure.
"Our aim is to meet the needs of our customers, increase shareholder value, create robust financial results, and economies of scale, as we will become more innovative and also capitalize on our existing Global infrastructure and presence."
The company has been streamlined into four distinct divisions: Global Operations & Sales, Products & Services, Technology and Finance to create synergies between the Headquarters and the Group subsidiaries.
Online Casino News Courtesy of Infopowa