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INTRALOT Announces Full Year 2023 Financial Results


INTRALOT announces 5.4% EBITDA increase to €129.5m with net profit of €5.8m in FY23. Operating cash flow increased by 16.9% to €112.5m



(March 29, 2024) – INTRALOT SA (RIC: INLr.AT, Bloomberg: INLOT GA), an international gaming solutions and operations leader, announces its financial results for the twelve-month period ended December 31 st , 2023, prepared in accordance with IFRS.


Overview

  • Group Revenue at €364.0m in FY23 (-7.3% y-o-y).

  • EBITDA at €129.5m (+5.4% y-o-y) in FY23, with EBITDA margin rising to 35.6% from 31.3% in FY22.

  • EBT in FY23 shaped at €33.6m vs. €29.8m in FY22.

  • NIATMI (Net Income After Tax and Minority Interest) at €5.8m.

  • Operating Cash Flow at €112.5m in FY23 (+16.9% y-o-y).

  • Group CAPEX in FY23 was €29.7m.

  • Group Cash at the end of FY23 at €111.9m, €9.5m higher vs. Dec-22.

  • Net Debt at €333.2m at the end of FY23, lower by €157.2m vs. Dec-22.

  • Net Leverage ratio at 2.6x in FY23 vs. 4.0x in FY22.

  • On February 27, 2024 INTRALOT announced the results of the public offering of the bonds, with the total valid demand rising to €201.87 mil. The broad demand from investors resulted in an oversubscription of the Public Offering by 1.55 times, while the total number of participant investors was 5,467. On the same date, INTRALOT notified that the proceeds raised from the Issue amount to €130 mil., and the net proceeds to approximately €124.5 mil., while the day of the trading of the 130,000 bonds was set as the 28th of February 2024.

  • On March 1, 2024 INTRALOT announced the signing of a new agreement with Magnum Corporation Sdn Bhd, a leading gaming company in Malaysia following an international call for tenders issued by Magnum Corporation in 2022. The term of the new agreement is for seven (7) years, with an option for two extensions of five (5) years each.

  • On March 19, 2024 INTRALOT announced that the maturity date of the credit agreement signed on July 28, 2022 by and between its US subsidiary Intralot, Inc. with KeyBank National Association Inc. as Administrative Agent and a syndicate of US financial institutions is extended for one additional year. The maturity date of this credit agreement is now July 27, 2026, while its remaining terms remain unchanged.

  • INTRALOT S.A., following its announcement dated December 22, 2023, signed on March 27, 2024, the agreement for the issuance of a Bond Loan of up to €100 million with maturity date 30.06.2025, with Arrangers PIRAEUS BANK and the NATIONAL BANK OF GREECE. Initial bondholders are PIRAEUS BANK, THE NATIONAL BANK OF GREECE, OPTIMA BANK, ATTICA BANK and PANCRETA BANK with PIRAEUS BANK as bondholders’ representative.

  • On March 28, 2024, the total amount of the Bond Loan (€100,000,000) was paid and INTRALOT S.A. issued Bonds of an equal value according to the Agreement. The proceeds of the Bond Loan will be used to fully redeem the outstanding capital of the Senior Notes due September 2024, issued by subsidiary Intralot Capital Luxembourg SA. Note: Due to rounding, numbers presented throughout this, and other documents may not add up precisely to the totals


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