Intralot Posts H1 2022 Report, Revenue Reaches $204.8 Million

Intralot has posted its H1 revenue report which states that the company’s revenue reached €204.8 million ($204.8 million), which is a 1.1% YoY increase. EBITDA also reached €55.1 million ($55.1 million), which is a 1.4% increase. 

Lottery Games Remain the Group’s Largest Revenue Generator 

According to the report, lottery games were responsible for 64.1% of the generated revenue, making them the highest contributor. Sports betting came in second with 15.7%, VLTs had an 11.2% share, technology contracts had 8.6% and racing’s share was 0.4%. 

Even though Malta’s operations resulted in a 6.7% lower YoY revenue, Croatia, Australia, and Argentina all recorded higher revenue. US operations also recorded lower revenue, but the merchandise sale in H1 of 2022 was higher. 

Total operating expenses in H1 of 2022 reached €49.4 million ($49.4 million), which is a €3.9 million ($3.9 million) increase compared to H1 of 2021. Moreover, the operating cash flow of the company was €41.4 million ($41.4 million) which is €9.9 million ($9.9 million) lower than the same period in 2021. 

As of June 30, 2022, the company’s net debt stood at €508.7 million ($508.7 million). Compared to the 2021 end-year, it increased by €11.5 million ($11.5 million). The report notes that the increase in debt is a result of the adverse FX impact on the company’s USD-denominated debt. 

Sokratis P. Kokkalis, the chairman and CEO of Intralot, shared a few thoughts on the report. He stated that the company’s strengthened financial profile can be seen in the report and added that Intralot will “pursue new opportunities” that will allow it to grow. 

Intralot Is Looking To Build Up on the Success in FY2021 

The 2021 fiscal year was quite successful for Intralot as the company reported a 20% YoY increase in revenue ($414 million). The operating cash flow of the company was $107.6 million which was a whopping 141.9% YoY increase.

Back then, Kokkalis noted that one of the key milestones for the company was the Capital Structure optimization in August. That provided Intralot with a lot of opportunities in the US and worldwide for the upcoming years, especially in the lottery, sports betting, and monitoring sectors. 

Most recently, Intralot announced amendments to the lock-up agreement that was reached in 2021. A new loan facility worth $175.6 million was agreed and it is set to optimize its balance sheet. 

The company’s expansion mission resulted in a partnership with NeoGames, thanks to which iLottery and sports betting offers in Brazil will be boosted. The CEO of NeoGames, Moti Malul, stated that the operator will provide Minas Gerais online sports betting and lottery players with “an exceptional online gaming experience.”