Intralot - Continuing improvement in Q324
Intralot’s (INLOT’s) Q324 results demonstrated good underlying revenue growth, which was offset by one-offs and negative foreign exchange differences, and a typical seasonal and sequential (ie quarter-on-quarter) increase in EBITDA. Since the start of Q324, INLOT has announced a contract extension (at least two years beyond 2026) in Australia; a new iLottery contract win in British Columbia, extending the existing relationship with the province; and the loss of an important lottery contract, with current EBITDA of US$20m, in Ohio, US, from July 2027. We have reduced our FY24 EBITDA estimate by c 5%.Intralot is a supplier of integrated gaming and transaction processing systems. Co.'s operating geographical segments are as follow: European Union, which comprises Greece, Italy, Malta, Cyprus, Poland, Luxembourg, Spain, the U.K., Nederland, Romania, Bulgaria, France, Germany, Czech Republic and Slovakia and Republic of Ireland; Other Europe, which comprises Russia, and Moldova; America, which comprises the U.S., Peru, Brazil, Argentina, Mexico, Jamaica, Chile, Colombia, Guatemala, Dominican Republic, Suriname, Uruguay and St. Lucia; as well as Other Countries, which comprises Australia, New Zealand, China, South Africa, Turkey, South Korea, Lebanon, Egypt, Azerbaijan, Taiwan and Morocco.
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