Intralot; 4% EBITDA growth

Thursday, May 25th, 2017
Last Update: 10:14
Intralot has posted a satisfactory start to the year delivering 10.8% growth in GGR and 4% growth in consolidated EBITDA.The latter shaped at €46.5m, slightly ahead of our €45.4m estimate on the back of a better top line performance which more than offset the increased tax and agent commission costs.

Net losses narrowed yoy coming in at €5.5m vs. €9.9m in the same period last year on the back of the operational improvement and the lower financing costs/FX differences.

On the cash flow front, net debt shaped a bit higher than we had anticipated at €509m vs. our €502m estimate, with the c€14m increase relative to the Dec’16 position being driven mainly by c€24.6m capex (incl. €11.7m related to the AMELCO partnership).

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