Intralot announced the results of its first half financial report. The gaming company reported a 3% increase in revenue in the first half of 2022.
The survey shows that Intralot achieved total gross revenue of €168.5 million (US$168.8 million) in the first half of this year, an increase of €4.6 million compared to the same period in 2021. EBITDA also rose 1% to €55.1 million in 2022.
Breaking it down further, Intralot’s second quarter 2022 showed annual revenue growth of 4%, totaling €88.7 million compared to €85.1 million a year earlier.
So far in 2022, the main source of revenue has been driven by the lottery games and sports betting divisions, which accounted for 64.1% and 15.7% of total revenue for the first six months of this year.
However, despite the positive aspects, Intralot continues to have a net debt of 508.7 million euros. Furthermore, the report showed a revenue drop in the US market of €5.9 million, a decrease of 7% compared to last year, something Intralot says was caused by a large jackpot in Q1 2021. – as well as higher merchandise sales.
Overall, the report is flat for the Greek gaming company, which has shown steady growth over the past year in its Q1 and Q2 results – despite losses in the North American market.
Intralot CEO evaluates financial report
Intralot President and CEO Sokratis P. Kokkalis said: “Intralot has recently completed a series of strategic transactions that included a €129 million capital increase with the participation of a key new investor, the acquisition of 100% control from Intralot Inc. in the US and the refinancing of $254 million of notes issued by Intralot”.
“These events, combined with continued strong performance, reflected in the first half results, put Intralot on a steady course to seize new strategic opportunities in developed markets,” concluded Kokkalis.