Quarterly income of Intralot increases, EBITDA remains constant
Let's Crack the Code on Intralot's Q1 2025 Performance
In Q1 2025, Intralot uncorked a massive 10.9% revenue hike, propelled by a storm of activity in Argentina and Turkey. The Athens-based gaming technology firm reported earnings of €94.4 million, a marked improvement from €85.1 million in Q1 2024.
Lottery games dominated the scene, raking in a whopping 55.2% of the total revenue, followed closely by sports betting at 25%. Video lottery terminals chipped in 11.6%, and IT services accounted for the remaining 8.2%.
Insider Info: while Argentina's segment soaked in a revenue boost of 64.8% and Turkey's sports betting market skyrocketed by 61% amid currency fluctuations.
The Technology segment, Intralot's cash cow, wasn't left out of the action. It managed to pull in €61.4 million but shed a percentage point to account for 65% of the total revenue. The dip was due to a slowdown in the U.S. market, thanks to fewer multi-state jackpots.
Meanwhile, Argentina and Oceania shone bright, driving growth, as did Croatia. In sharp contrast, the Turkish lira's tumble didn't dampen earnings, thanks to online sports betting activity's 61% surge in Turkey.
The revenue growth, though significant, didn't translate into higher profits. EBITDA remained more or less stagnant, yielding €30.2 million—a mere 0.3% increase. This was due to an uptick in operating expenses by 3.7%, necessary to keep that revenue train rolling.
However, operating cash flow picked up notably, surging to €48.9 million from €27.1 million in the previous year. The main factor was the collection of outstanding receivables.
Game, Set, Match:After the quarter closed, Intralot bagged a double-win in contract renewals. They extended their deal with New Hampshire Lottery Commission for another seven years and scored a six-year deal with New Zealand's Department of Internal Affairs for electronic gaming machine monitoring.
Chairman Sokratis P. Kokkalis applauded Intralot's resilience and characterized the quarter as "a strong start to 2025... with stable profitability, revenue growth, and continued debt reduction."
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In the technology sector of Intralot, the primary business focus, profits increased to €61.4 million, representing a 65% share of the overall revenue.
The Q1 2025 performance demonstrated a profound impact on the finance landscape, with significant revenue growth in both Argentina and the Technology segment.
