ATHENS, Greece, March 30, 2017 /PRNewswire/ --
Results for the Twelve Months Ended December 31st, 2016
INTRALOT SA (RIC: INLr.AT, Bloomberg: INLOT GA), an international gaming solutions and operations leader, announces its financial results for the twelve-month period ending December 31st, 2016, prepared in accordance with IFRS.
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OVERVIEW
Consolidated Financial Statements for the 12 Months
Ended December 31st, 2016
(in EUR million) FY16 FY15 % 4Q16 4Q15 %
Change Change
Revenues (Turnover) 1,323.6 1,235.5 7.1% 366.1 340.5 7.5%
Gross Profit 233.1 233.7 -0.3% 64.8 65.5 -1.1%
EBITDA 175.8 164.9 6.6% 51.6 43.5 18.6%
EBITDA Margin (%) 13.3% 13.3% 0.0pps 14.1% 12.8% +1.3pps
EBT 4.8 47.9 -90.1% -14.2 16.1 -
EBT Margin (%) 0.4% 3.9% -3.5pps -3.9% 4.7% -8.6pps
NIATMI 0.9 -65.1 - -0.9 -14.7 -
Commenting on the FY 2016 Results INTRALOT Group CEO Antonios Kerastaris noted:
"The strongly positive results of 2016 in both growth and profitability reflect important transformations that have taken place over the past couple of years across operational capabilities, project management, cost structure, and Products and Services portfolio investments. A series of M&A transactions greatly enhanced our business development potential through strong local partnerships and diversified portfolio offering. The past year was also marked by tremendous improvements in INTRALOT's financial structure in a way that secures future savings and a clear funding horizon until 2021 while affirming international investors' confidence in future value creation."
OVERVIEW OF RESULTS
REVENUES
YoY variance per Main Product
% chg
Numerical Games -1.4%
Sports Betting +19.3%
During the twelve-month period ending December 31st, 2016, INTRALOT systems handled €23.4b of worldwide wagers (from continuing operations), a 1.0% y-o-y increase. Africa's wagers increased by 23.6%, North America's wagers increased by 8.4%, East Europe's by 1.7%, and West Europe's by 0.4% while South American wagers decreased by 7.2%, and Asia's wagers decreased by 4.1%.
PAYOUT/ GROSS MARGIN / OPERATING INCOME / OPEX
EBITDA
EBT / NIATMI
CASH-FLOW
RECENT/ SIGNIFICANT COMPANY DEVELOPMENTS
APPENDIX
Analysis per Business Segments
Revenues
Business Segments (in EUR million)
FY16 FY15
FY16 FY15 % % %
change
Operation contracts 994.6 940.3 75.1% 76.1% 5.8%
Management contracts 115.7 98.9 8.8% 8.0% 17.1%
HW sales &
facilities
management contracts 213.3 196.3 16.1% 15.9% 8.7%
Total 1,323.6 1,235.5 100.0% 100.0% 7.1%
Geographical Sales Breakdown
(in EUR million) FY16 FY15 % chg
Europe 597.7 456.1 31.0%
Americas 541.2 556.2 -2.7%
Other 251.9 292.2 -13.8%
Eliminations -67.2 -69.0 -
Total Consolidated Sales 1,323.6 1,235.5 7.1%
Geographical Gross Profit Breakdown
(in EUR million) FY16 FY15 % chg
Europe 67.7 77.3 -12.5%
Americas 52.9 51.0 3.7%
Other 115.0 110.6 4.0%
Eliminations -2.5 -5.2 -
Total Consolidated Gross Profit 233.1 233.7 -0.3%
Geographical Gross Profit Margin Analysis
FY16 FY15 % chg
Europe 11.3% 17.0% -5.6pps
Americas 9.8% 9.2% +0.6pps
Other 45.7% 37.9% +7.8pps
Total Consolidated Gross Margin 17.6% 18.9% -1.3pps
INTRALOT Parent company results
Revenues for the period decreased by 14.4% to €65.5m. The sales contraction is primarily driven by the lower revenues in Malaysia (due to one-off IT sales in the first half of 2015) and the lower revenues from the Hellenic Lotteries (due to one-off sales of equipment in the first half of 2015).
EBITDA decreased to €-0.5m from €45.7m in FY15. The considerable EBITDA variance is mainly driven by the less Intragroup provisions reversals in 2016 vs. 2015 (€23.0m) and higher Intragroup provisions in 2016 (€12.0m) followed by the aforementioned revenue decline.
Earnings After Taxes (EAT) shaped at €-0.4m from €-3.6m in FY15.
INTRALOT Parent Company
Headline P&L Figures for The 12 Months
Ended December 31st, 2016
(EUR million) FY16 FY15 %
Change
Revenues (Sales) 65.5 76.6 -14.4%
EBITDA -0.5 45.7 -
EAT -0.4 -3.6 -
About INTRALOT
INTRALOT, a public listed company established in 1992, is a leading gaming solutions supplier and operator active in 55 regulated jurisdictions around the globe. With €1.32 billion turnover and a global workforce of approximately 5,300 employees (3,450 of which in subsidiaries and 1,850 in associates) in 2016, INTRALOT is an innovation - driven corporation focusing its product development on the customer experience. The company is uniquely positioned to offer to lottery and gaming organizations across geographies market-tested solutions and retail operational expertise. Through the use of a dynamic and omni-channel approach, INTRALOT offers an integrated portfolio of best-in-class gaming systems and product solutions & services addressing all gaming verticals (Lottery, Betting, Interactive, VLT). Players can enjoy a seamless and personalized experience through exciting games and premium content across multiple delivery channels, both retail and interactive. INTRALOT has been awarded with the prestigious WLA Responsible Gaming Framework Certification by the World Lottery Association (WLA) for its global lottery operations.
For more info:
Ms. Dimitra Tzimou
tzimou@intralot.com
Corporate Relations Manager, or
Investors Relation Dept.
ir@intralot.com
Phone: +30-210-6156000
Fax: +30-210-6106800
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