Intralot announced pre-tax profits of 5.4 million euros for the first quarter of 2024, with net profits after taxes and minority interests amounting to 3.9 million euros.

The announcement in detail

INTRALOT AE, a leading company in the provision of solutions and in the organization of games of chance internationally, announces its quarterly financial results for the period ending March 31, 2024, in accordance with International Accounting Standards.

Specifically

During Q1 2024, the Group’s revenues were €85.1 million (-4.8% compared to last year, including the impact of €-6.7 million due to the exchange rate change in Argentina in December 2023).

During the same period, EBITDA profits amounted to €30.1 million (-10.7% compared to last year), while the EBITDA margin was maintained at 35.4%, i.e. at the same levels as 35.6% on 31.12.23.

EBT profit was €5.4m in Q1 2024 and NIATMI (Net Profit/Loss after Taxes and Minority Rights) was €3.9m profit.

Operating Cash Flows for Q1 2024 amounted to €27.1 million.

The Group’s Investments during the 1st quarter of 2024 amounted to €6.8 million.

The Group’s Cash and Equivalents at the end of the 1st quarter of 2024 amounted to €190.1 million, increased by €78.2 million compared to December 2023.

Adjusted Net Borrowing was €329.5m at the end of Q1 2024, down €3.7m compared to December 2023 and €142.1m compared to Q1 quarter of 2023.

The adjusted Net Leverage ratio at the end of Q1 2024 was 2.6x. In the corresponding period last year, the Net Leverage ratio stood at 3.6x. On April 9, 2024, INTRALOT CAPTAL LUXEMBOURG SA completed the early full capital repayment of a total amount of €99,568,000, plus interest, of the 5.250% bonds due September 2024.

On 26.05.2024 the British Columbia Lottery (BCLC) started operating in Canada with the new LOTOS X central system.

Following the revision of the stock market indices of the Athens Stock Exchange, INTRALOT’s share will be included in its General Price Index from 25.06.2024.

The President of INTRALOT Group, Mr. Socrates P. Kokkalis stated:

“During the first quarter of 2024, the Group completed the refinancing plan of the 2024 Bonds through the issuance of a Bond negotiable on the ASE and Collaborative lending with five Greek banks, on terms more favorable than international markets. At the same time, the results of the 1st quarter confirm the stable course of the company and the consolidation of the main financial indicators at the desired levels, while the company claims with claims a number of important projects in North America, Australia and Brazil”.