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Poker.co.uk - Poker News Archive
Thursday 11th June 2009 Intralot Earnings Fall 36 Percent
Intralot, the Athens-based developer and supplier of gaming and transaction processing systems, has revealed that its earnings fell over 36 percent year-on-year for the first three months of 2009.
The Greek firm stated that earnings before interest, tax, depreciation and amortisation for the first quarter of this year decreased by 36.4 percent to €46.1 million while consolidated revenues remained steady compared to the first three months of 2008 at €256 million.
In addition, earnings before tax dropped 35.2 percent year-on-year to €44.2 million while earnings after tax and minorities decreased by 38.5 percent to €22.1 million from €35.9 million for the first quarter of 2008.
Intralot revealed that overall company revenues for the period were €27.3 million, which was 2.5 percent lower than the first three months of 2008, while earnings before interest, tax, depreciation and amortisation stood at €5.1 million alongside earnings after tax of €2.9 million.
“Intralot in the first quarter of the year managed to deliver satisfactory results amidst a global economy recession and a negative influence by unfavourable foreign exchange movements in countries that the company operates,” said Constantinos Antonopoulos, Chief Executive Officer for Intralot.
“Specifically, operations in Turkey, Romania, Poland and South Africa were affected by percentage rates that ranged between high single-digit to the mid-twenties. Moreover, the group incurred start-up costs in several countries, including The Netherlands, some US states including Ohio, the Caribbean and Brazil.
“Intralot has won three new tenders in the US, Louisiana, Ohio and New Hampshire, where the company has established a strong presence with nine contracts.
“A very important strategic development is the launch of Intralot Interactive, which aims to exploit the great potential of the licensed interactive market focusing on both business-to-business and business-to-consumer opportunities. This move is ahead of the controlled market liberalisation wave that started in Italy and Spain and is expected to continue in France, Denmark, Switzerland and other countries. In this direction, Intralot signed a significant cooperation agreement regarding the Italian market with PartyGaming, the world’s leading online gaming company, for online poker tournaments. Also, Intralot entered the Croatian market with a contract for interactive gaming services.”
Source: OnlineCasinoNews
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