Ainsworth Game Technology Announces 40% Revenue Increase for the First Half of FY22

Ainsworth Game Technology Limited (AGT) reported revenue of A$100.7 million (US$72.3 million) for the first half of FY22, an increase of 40% over the period of the previous year.

Underlying EBITDA was A$20.7 million for the period, compared to A$1.1 million, while underlying profit before tax was A$10 million, compared to an underlying loss. pre-tax equity of A$18.7 million over the same period a year earlier.

The company reported an after-tax profit of A$9.1 million for the period, compared to an after-tax loss of A$50.1 million for the “previous corresponding period significantly impacted by the pandemic”.

A statement from AGT read: “The improved results were primarily due to increased revenue resulting from recurring revenue on Historic Horse Racing (HHR) facilities and outright sales, including the conversion to sale of 400 HHR units previously placed on the North America stake, an improvement in Latin America thanks to site takeovers and reopenings, and a higher contribution from the online division.

“Reflecting improved offshore trading conditions, international revenues increased by 59% compared to the previous corresponding period (PCP), and now represent 83% of the group’s total revenues. Recurring revenues, another priority of the group’s strategy for sustained performance, increased by 28%”.

Revenue in Australia was down 13% from the prior year period, with North American revenue increasing 33% to A$54.6 million.

“We are delighted to deliver an improved result for the half, thanks to reopenings and recovery in several of our key international markets,” said AGT CEO Harald Neumann. “While we can expect continued recovery, particularly in Australia and Latin America, we are also actively pursuing a series of initiatives to fundamentally improve AGT’s game design and technology capabilities.

“The ability to quickly deliver new products to market that can deliver lasting performance to our customers is critical to our long-term success. I look forward to updating you as we progress.

Source link

Comments are closed.