Intralot reported its financial results for the nine months ending September 30, 2024. The company faced challenges due to currency fluctuations and seasonal factors. Despite these issues, Intralot continued to secure contract extensions and new projects.
  • Revenue: Intralot’s revenue for the nine-month period was €263.5 million, a 5.9% decrease from the same period last year. This decline includes a €12.6 million negative impact from currency exchange rates in Argentina. The absence of large jackpots in the U.S. also affected revenue.
  • EBITDA: EBITDA stood at €91.5 million, down 9.4% year-on-year. However, third-quarter EBITDA improved to €32.0 million from €29.4 million in the second quarter, an 8.84% increase. The EBITDA margin was 34.7%.
  • Net Income: Earnings Before Tax (EBT) were €10.6 million, while Net Income After Tax and Minority Interest (NIATMI) was €6.5 million. These figures reflect the challenges faced during the period. Operating cash flow was €81.6 million.
  • Debt and Cash: Adjusted Net Debt decreased by €7.1 million since December 2023, reaching €326.2 million. The Adjusted Net Leverage ratio improved to 2.7x from 3.4x in the same period last year. Group cash, including restricted cash, totaled €107.4 million.
  • Contract Extensions: In September 2024, Intralot’s Australian subsidiary extended its contract with Lotterywest, Western Australia’s state lottery, for an additional two years, with an option for one more year. In November 2024, the U.S. subsidiary began a new project with the British Columbia Lottery Corporation in Canada to provide an online lottery platform and digitize the existing land-based network.

Intralot’s Chairman, Sokratis P. Kokkalis, noted that the company’s performance was impacted by seasonal effects in the U.S. and currency movements. Despite these challenges, Intralot maintained its profitability and leverage ratios within targeted ranges and continued to extend existing contracts and pursue new projects worldwide.