2024 Annual Revenue of Intralot Soars to $406.9 Million, Boosted by Q4 Profit Surge
In 2024, Intralot recorded a total revenue of $406.9 million, marking a 3.4% increase compared to the previous year. The impressive Q4, with revenue soaring 34.3% to $122.8 million, was a key driver behind the company's growth. Gross gaming revenue (GGR) also rose by 2% to $385.5 million.
Lottery games remained the company's primary source of income, accounting for 54.8% of total earnings. Sports betting followed closely with a 23.1% share, while technology contracts and video lottery terminals accounted for 11.3% and 10.7% respectively.
Significant market growth was observed in the United States, Turkey, and Argentina, contributing positively to Intralot's performance. However, this was partially offset by lower contract values in Morocco and implementation fees in Taiwan.
Despite the revenue growth, Intralot faced financial challenges. Operational expenses rose 3% to $128.4 million, resulting in a drop in gross profit by 2.7% to $154.4 million. Adjusted EBITDA increased marginally by 1%, while EBITDA decreased by 3.7%. EBIT fell 16.6%, pre-tax profit dropped 46.2%, and net income after tax and minority interest (NIATMI) declined 16.5%.
However, Q4 showed some positive signs with operating costs dropping by 7.3%, and EBITDA rising 16.7% to $36.2 million. Adjusted EBITDA increased 38% to $42.9 million, and EBIT surged 56% to $15.5 million. Pre-tax profit jumped 419% to $8.2 million, though NIATMI in Q4 still decreased 49.4% to $1.8 million.
Intralot's CEO, Sokratis Kokkalis, emphasized the company's focus on high-margin activities, stating, "Our performance for 2024 has been positively impacted by very strong performance in the last quarter driven by strong revenue growth from North America, enabling the company to maintain its key metrics in profitability and leverage ratio."
Looking ahead to 2025, Intralot plans to expand its digital gaming footprint, strengthen strategic partnerships, and invest in technological innovation. As part of these plans, the company has extended its contract for the supply of the Enterprise Management System in New Zealand until May 2026. Moreover, Intralot will also be deploying its LotosX Omni gaming platform in the US as part of its partnership with the New Hampshire Lottery Commission, marking its first implementation in the US. The company is also investing in future-proofing the industry through innovations like interoperability, AI, and new game formats such as Fast Play and Fast Play jackpots.
In summary, despite facing financial challenges in 2024, Intralot's focus on high-margin activities and strategic partnerships, coupled with its investment in technological innovation, positions the company well for growth in the evolving gaming industry.
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[1] New Zealand contract extension[2] New Hampshire Lottery contract extension[3] LotosX Omni Gaming Platform[4] Investment in Future Technologies[5] First implementation of LotosX Omni in the US
- Intralot's revenue for Q4 of 2024 increased somewhat significantly, with a 34.3% soar, demonstrating a key contributor to the company's growth in finance.
- Argentina was one of the significant markets that contributed positively to Intralot's performance in 2024, a factor that aligns with the company's expanding business in various countries.
- Intralot, despite the financial challenges faced, plans to invest in technological innovation, focusing on aspects like interoperability, AI, and new game formats like Fast Play and Fast Play jackpots, as part of its strategy for the evolving gaming industry.
- In Q4 of 2024, Intralot's CEO, Sokratis Kokkalis, highlighted the company's success in high-margin activities, emphasizing the strong growth from North America, which helped the company maintain its profitability and leverage ratio.
