Having analysed data for March and early April, as well as lockdown forecasts for territories in which it operates, Intralot said that the pandemic will impact its earnings before interest, tax, depreciation and amortisation (EBITDA) by between €25.0m and €30.0m.
National lockdown measures, store closures and the lack of sports betting content – due to the cancelation and postponement of almost all major sporting events – have affected operations, it said. In particular this impact has been felt in Malta, Australia and Morocco, with a partial impact in the US, the Netherlands and Chile.
However, Intralot also said that as it expects some activity to rebound from June, this would mean that it would return to previously budgeted figures by November or December.
“The COVID-19 pandemic has affected economic and business activity around the world,” Intralot explained. “The extent of its impact will depend on its duration, government policy in key jurisdictions regarding restrictions implemented and the current and subsequent economic disruption that the pandemic will cause,” Intralot states.
To help mitigate the impact of the pandemic, Intralot has implemented out a number of mitigation measures. It has shifted 80% of its personnel to remote working, in line with authorities’ instructions to avoid social contact.
Intralot warned that this may lead to some delays in the roll-out of new product, and in the production of new hardware equipment in Asia, as well as other disruptions in the supply chain from third parties.
“The company is constantly reviewing the situation in order to protect the safety of its employees and the integrity of its operation and will offer updates when conditions change materially,” Intralot concluded.
Source: GMB
