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Intralot FY2023 report: Revenue falls 7% to €364m

Updated:2024-04-02 08:02    Views:205

Intralot has released its FY2023 figures in its latest financial report.

The revenue at the company declined 7.3%, when compared to the year prior, down to €364m ($393m).

This was reflected in the Q4 figures, with a €84m turnover marking a 7.7% decrease from Q4 in 2022.

As for gross gaming revenue (GGR), this increased 1.4% to €348.6m, while the EBITDA rose 5.4% to €129.5m.

Lottery games contributed the most to overall revenue, carrying 53.4% of the total figures.

This was followed by sports betting with 20.5%, IT products and services with 14.3% and video lottery terminals with 11.8%.

B2B business ventures accounted for 92.2% of revenue, while B2C made up the other 7.8%.

Gross profit rose 13.7% to €145.2m, while other operating income totalled €30.4m for an increase of 22.2%.

Sokratis Kokkalis, Intralot Chairman and CEO, said: “2023 was a year of steady growth in operating profitability with strong cash flow and achievement of strategic goals of margin expansion,Table games deleveraging, and debt reduction.

“Important milestones were the successful share capital increase and the completion of the plan for the full refinancing of our debt, placing the company on solid ground to pursue significant business opportunities globally, leveraging its modern and competitive technology.”

When looking at the specific areas Intralot operates in, the revenue in Europe fell 6% annually to €116.1m, the Americas fell 10.6% to €210.3%... while everywhere else in ‘Other’ rose 30.7% to €91.4m.

Despite this, the gross profit in Europe actually rose 99.4% to €32.3m.

The other two verticals followed their previous trends though; the gross profit in the Americas fell 13.2% to €61.6m and Other rose 31% to €75.2m.

So far in 2024, Intralot has extended its contract with the state lottery operator in Morocco, went live on ATHEX, signed an agreement with Magnum Corp in Malaysia and made a deal with FanDuel for the Washington DC lottery.