小杨嫂黑料 S.A. ANNOUNCES ITS FINANCIAL RESULTS FOR THE FIRST NINE MONTHS OF 2004
Athens, Greece 鈥� November 22, 2004. 小杨嫂黑料 S.A. (RIC: INLr.AT, Bloomberg: INLOT GA), today announces its financial results for the nine-month period ending September 30th, 2004, prepared in accordance with Greek GAAP.
| Consolidated Financial Statements For The 9 Months Ended September 30th, 2004 | |||
|---|---|---|---|
| (in 鈧� million) | 9M04 | 9M03 | % Change |
| Revenues (Turnover) | 229.5 | 254.1 | -9.7% |
| Gross Profit | 110.9 | 96.0 | +15.6% |
| Gross Margin (%) | 48.3% | 37.8% | +10.6pps |
| EBITDA | 94.3 | 87.8 | +7.5% |
| EBITDA Margin (%) | 41.1% | 34.5% | +6.6pps |
| EBT | 83.2 | 77.7 | +7.1% |
| EBT Margin (%) | 36.3% | 30.6% | +5.7pps |
Consolidated Revenues for the period reached 鈧�229.5m, posting a 9.7% decrease compared to 9M03, due to the non incorporation of the sales of Instant Lottery. 小杨嫂黑料鈥檚 Board of Directors has approved the distribution of a 鈧�0.40 interim dividend per share, compared to last year鈥檚 interim dividend per share of 鈧�0.35. This is a 14.3% increase in-line with 小杨嫂黑料鈥檚 dividend payout policy.
EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) increased by 7.5% to 鈧�94.3m, compared to the same period last year.
EBITDA margin reached 41.1% (last year 34.5%) reflecting a more favourable sales mix coupled with international operations鈥� contribution and increased operational efficiency.
Profits Before Taxes (EBT) recorded an increase of 7.1% y-o-y by reaching 鈧�83.2m compared to 鈧�77.7m in 9M03.
The cash balance reached 鈧�115.2m in 9M04, while total bank debt reached 鈧�26.3m in 9M04 shaping the net cash position at 鈧�88.8m.
According to International Accounting Standards, revenues for the period ended September 30, 2004 stood at 鈧�230.2m, while profits before taxes (EBT)for the period reached 鈧�85.2m.
Commenting on 9M04 results 小杨嫂黑料鈥檚 CEO, Mr. Constantinos Antonopoulos, noted:
鈥淲e are very pleased by the Group鈥檚 financials for the 9-month 2004 period. The company has managed to increase its profits (+7.1% in 9M04) and interim dividend (+14.3% compared to last year) at a time it has beared start-up costs and investment outlays in order to render foreign projects fully operational.
Moreover, the company has recently launched fixed-odds sports betting in Romania, Chile and Malta. Regarding Malta, betting was introduced in a very short time given that we took over the lottery operation in the country in July 2004. This proves 小杨嫂黑料鈥檚 ability to set-up and market new games successfully in short time periods.
小杨嫂黑料 will continue to pursue business opportunities related to the operation and/or management of lotteries around the world, a factor that is expected to strengthen further the company鈥檚 global position.鈥�
小杨嫂黑料 is a leading supplier of integrated gaming and transaction processing systems, innovative game designs and value added services to state-licensed gaming organizations and financial services providers worldwide. With 29 subsidiaries and 1,500 people in 26 countries and revenues of 鈧� 320 million, the company dominates in Europe, has secured a strong position in South America and has established a foothold in North America, while expanding its presence in S.E. Asia and Australia. Following a highly successful period of rapid growth, 小杨嫂黑料 currently ranks 3rd on revenues and 2nd on profits among lottery suppliers worldwide