Quarterly Report • Oct 5, 2015
Quarterly Report
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| 30/06/2006 | 31/12/2005 | 30/06/2006 | 31/12/2005 | 01/01-30/06/2006 | 01/01- 30/06/2005 |
|
|---|---|---|---|---|---|---|
| Inventories | 18.872 | 13.307 | 14.761 | 10.901 | ||
| LIABILITIES | ||||||
| Short-term Borrowing and Current Portion of L-T Debt | 18.463 | 21.097 | 6.960 | 10.000 | ||
| Total Equity (b) | 207.109 | 201.239 | 131.268 | 119.622 | ||
4. CONDENSED CASH FLOW STATEMENT COMPANY / GROUP
| COMPANY | BASE | PARTICIPATION | Subsidiary of the company: | ||
|---|---|---|---|---|---|
| PERCENTAGE | |||||
| Debit Interest and similar expenses | |||||
| INTRALOT SA | Maroussi | Parent | 1: Intralot Betting Operations (Cyprus) Ltd | Credit Interest | |
| Plus/ Less adjustments of working capital to net cash or related to operating activities: |
|||||
| BETTING COMPANY SA*** | N. Hiraklion | 100% | 2: Intralot Holdings International Ltd | ||
| INTRALOT DE CHILE SA* | Santiago, Chile | 99,99% | 3: Bilot EOOD | ||
| INTRALOT DE PERU SAC* | Lima, Peru | 99,98% | 4: Eurofootball Ltd | Increase/Decrease of Inventories | |
| INTRALOT INC.* | Atlanta, USA | 85% | 5: Intralot International Ltd | Increase/Decrease of Receivable Accounts | |
| INTRALOT BETTING OPERATIONS (CYPRUS) LTD* | Nicosia, Cyprus | 54,95% | 6: Pollot Sp.Zoo | Increase/Decrease of Payable Accounts (except Banks) | |
| 1. | ROYAL HIGHGATE LTD** POLLOT Sp.zoo |
Paralimni, Cyprus Warsow, Poland |
53,47%(& 3,24% 100% |
7: White Eagle Investments Ltd 8: Instant Lottery SA |
(Less): |
| ΜALTCO LOTTERIES LTD* | Valetta, Malta | 73% | 9: Atropos SA | Interest Paid and similar expenses paid | |
| ΙΝTRALOT HOLDINGS INTERNATIONAL LTD* | Nicosia, Cyprus | 100% | 10: AEDIL SA | Income Tax Paid | |
| 2. | LOTROM SA** | Bucharest,Romania | 60% | 11:Betarial Sp.Zoo | |
| 2. | YUGOLOT LTD** | Belgrade, Serbia& | 100% | ||
| Montenegro | 12: Uniclic Ltd | Net Cash from Operating Activities (a) | |||
| 2. | BILOT EOOD** | Sofia, Bulgaria | 100% | 13: Betting Company SA | Investing Activities |
| 3. | EUROFOOTBALL LTD** | Sofia, Bulgaria | 49% | ||
| 4. | EUROFOOTBALL PRINT LTD** | Sofia, Bulgaria | 100% | * Companies with direct participation | Purchases of subsidiaries, associates and other investments |
| 2. | INTRALOT INTERNATIONAL LTD** | Nicosia, Cyprus | 100% | ** Companies with indirect participation | Purchases of tangible and intangible assets |
| 5. | INTRALOT OPERATIONS LTD** | Nicosia, Cyprus | 100% | ***Companies with direct and indirect participation | Proceeds from sales of tangible and intangible assets |
| 2. | INTRALOT BUSINESS DEVELOPMENT LTD** | Nicosia, Cyprus | 100% | Interest received | |
| 2. | INTRALOT TECHNOLOGIES LTD** | Nicosia, Cyprus | 100% | Dividends received | |
| INTELTEK INTERNET AS* | Istanbul, Turkey | 45% | |||
| LOTERIA MOLDOVEI SA* | Chisinau, Moldova | 47,90% | |||
| 6,7,1 TOTOLOTEK SA** | Warsow, Poland | 54% | Net Cash from Investing Activities (b) | ||
| 2. | WHITE EAGLE INVESTMENTS LTD** | Hertfordshire, United Kingdom |
100% | Financing Activities | |
| 7. | BETA RIAL Sp.Zoo** | Warsow, Poland | 100% | Cash inflows from loans | |
| 12. | YUVENGA CJSC** | Moscow, Russia | 49% | Repayment of Loans | |
| 2. | UNICLIC LTD** | Nicosia, Cyprus | 50% | Dividends paid | |
| 12. | DOWA LTD** | Nicosia, Cyprus | 60% | ||
| INTRALOT NEW ZEALAND LTD* | Wellington, New Zealand | 100% | |||
| 13. | BETTING CYPRUS LTD** | Nicosia, Cyprus | 100% | Net Cash from Financing Activities © | |
| 2. | INTRALOT EGYPT LTD** | Nicosia, Cyprus | 88,24% | Net increase / (decrease) in cash and cash equivalents for the | |
| 2. | YUGOBET LTD** | Belgrade, Serbia& Montenegro |
100% | Cash and cash equivalents at the beginning of the year | |
| II. Equity Method | Exchange rate differences from the conversion of Cash Equivalents |
||||
| Cash and cash equivalents at the end of the year | |||||
| INSTANT LOTTERY SA* | Maroussi | 48,17% | |||
| 8. | ATROPOS SA*** | Maroussi | 100% | ||
| 8,9. AEDIL SA** | Maroussi | 100% | |||
| 9,10. BEST NET Co** | Maroussi | 100% | |||
| BILYONER INTERAKTIF HIZMELTER AS* | Istanbul, Turkey | 25% |
| GROUP | COMPANY | GROUP | GROUP | COMPANY | COMPANY | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 01/01-30/06/2006 | 01/01- | 01/04- | 01/04- | 01/01- | 01/01- | 01/04- | 01/04- | ||||||
| 30/06/2006 | 31/12/2005 | 30/06/2006 | 31/12/2005 | 30/06/2005 | 30/06/2006 | 30/06/2005 | 30/06/2006 | 30/06/2005 | 30/06/2006 | 30/06/2005 | |||
| ASSETS | Sale Proceeds | 381.967 | 211.233 | 202.170 | 108.551 | 106.712 | 49.685 | 65.401 | 23.801 | ||||
| Less: Cost of Sales | -223.819 | -110.258 | -125.636 | -54.796 | -35.911 | -18.215 | -18.966 | -7.450 | |||||
| Tangible Assets | 219.437 | 156.562 | 163.004 | 90.259 | Gross Profit | 158.148 | 100.975 | 76.534 | 53.755 | 70.801 | 31.470 | 46.435 | 16.351 |
| Inventories | 18.872 | 13.307 | 14.761 | 10.901 | |||||||||
| Accounts Receivable | 109.807 | 98.088 | 118.202 | 90.266 | Other Income | 1.116 | 1.888 | -4.290 | 1.714 | 48 | 1.055 | 6 | 1.006 |
| Other assets | 189.824 | 157.326 | 27.831 | 21.398 | Selling Expenses | -20.598 | -15.046 | -12.915 | -9.014 | -4.041 | -1.831 | -2.193 | -912 |
| TOTAL ASSETS | 537.940 | 425.283 | 323.798 | 212.824 | Adimninstrative Costs | -20.785 | -13.759 | -11.427 | -7.104 | -6.682 | -3.110 | -3.756 | -1.555 |
| Research and Development Costs | -4.575 | -1.796 | -2.554 | -911 | -4.575 | -1.847 | -2.554 | -911 | |||||
| Other Operating Expenses | -531 | -561 | 387 | -282 | 0 | 0 | 0 | 0 | |||||
| EBIT | 112.775 | 71.701 | 45.735 | 38.158 | 55.551 | 25.737 | 37.938 | 13.979 | |||||
| LIABILITIES | |||||||||||||
| Long-term Debt | 153.377 | 47.962 | 99.145 | 5.575 | EBITDA | 122.716 | 78.978 | 50.928 | 42.908 | 59.087 | 27.248 | 39.739 | 14.723 |
| Short-term Borrowing and Current Portion of L-T Debt | 18.463 | 21.097 | 6.960 | 10.000 | |||||||||
| Other Short-term Liabilities | 158.991 | 154.985 | 86.425 | 77.627 | Interest and similar charges | -6.854 | -2.089 | -1.879 | -1.147 | -2.436 | -647 | -930 | -381 |
| Total Liabilities (a) | 330.831 | 224.044 | 192.530 | 93.202 | Interest and related income | 8.703 | 3.829 | 4.894 | 2.206 | 10.638 | 13.263 | 10.440 | 13.098 |
| Shareholders´ Equity | 143.917 | 154.366 | 131.268 | 119.622 | Exchange differences | -551 | 6.112 | -309 | 2.087 | -1.182 | 2.273 | -914 | 1.348 |
| Minority Interest | 63.192 | 46.873 | 0 | 0 | Operating Profit before Tax | 114.073 | 79.553 | 48.441 | 41.303 | 62.571 | 40.626 | 46.534 | 28.044 |
| Total Equity (b) | 207.109 | 201.239 | 131.268 | 119.622 | |||||||||
| TOTAL EQUITY AND LIABILITIES (A) + (B) | 537.940 | 425.283 | 323.798 | 212.824 | Less Taxes: | -29.327 | -22.100 | -7.141 | -15.514 | -17.267 | -12.253 | -11.061 | -6.532 |
| Net Profit | 84.746 | 57.453 | 41.300 | 25.789 | 45.304 | 28.373 | 35.473 | 21.512 | |||||
| 3. CONDENSED STATEMENT OF CHANGES IN EQUITY GROUP / COMPANY | |||||||||||||
| GROUP | COMPANY | Attributable to: | |||||||||||
| 30/06/2006 | 30/06/2005 | 30/06/2006 | 30/06/2005 | Equity holders of the parent | 55.238 | 36.557 | 31.273 | 18.299 | 45.304 | 28.373 | 35.473 | 21.512 | |
| Net equity of period Opening Balance (1.01.2006 and | 201.239 | 132.280 | 119.622 | 111.639 | |||||||||
| 1.01.2005 respectively) | Minority Interest | 29.508 | 20.896 | 10.027 | 7.490 | 0 | 0 | 0 | 0 | ||||
| Adjustments in Equity as at 01.01.2005 | 0 | -1.581 | 0 | -7.138 | |||||||||
| Dividends Distributed | -40.927 | -36.204 | -35.386 | -30.345 | Earnings after taxes per share | ||||||||
| Net Amounts Effected Directly Equity | -37.949 | 7.694 | 1.728 | -357 | basic (€) | 0,71 | 0,47 | 0,40 | 0,23 | 0,58 | 0,37 | 0,45 | 0,28 |
| Profit for the year after taxes | 84.746 | 57.453 | 45.304 | 28.373 | diluted (in €) | 0,71 | 0,47 | 0,40 | 0,23 | 0,58 | 0,37 | 0,45 | 0,28 |
Audit Company : SOL S.A Type of Auditor's Report: Unqualified - Emphasis of matters Condensed Financial Statements, as they are prepared according to IFRS, are posted, accompanied with the Auditors Opinion, where it is necessary. The following Condensed Financial Statements have been approved by the Company's Board of Directors at August 28, 2006. All following data and information aim to provide a general briefing for the financial position and the results of INTRALOT Group. Therefore, it is recommended to any reader who is willing to procced to any kind of investment decision or transaction, to visit INTRALOT web site (www.intralot.com) where the Interim
(Former LIBERO INTERAKTIF AS)
| 3. CONDENSED STATEMENT OF CHANGES IN EQUITY GROUP / COMPANY | |||||
|---|---|---|---|---|---|
| GROUP | COMPANY | Attributable to: | |||
| Net equity of period Opening Balance (1.01.2006 and | 201.239 | 132.280 | 119.622 | 111.639 | |
| 1.01.2005 respectively) | |||||
| Adjustments in Equity as at 01.01.2005 | 0 | -1.581 | 0 | -7.138 | |
| Dividends Distributed | -40.927 | -36.204 | -35.386 | -30.345 | Earnings after taxes per share |
| Net Equity of period Closing Balance (30/06/2006 and 30/06/2005 respectively) |
207.109 | 159.642 | 131.268 | 102.172 |
THE CHAIRMAN OF THE BOARD OF DIRECTORS THE VICE-CHAIRMAN OF THE BOARD OF DIRECTORS THE GENERAL DIRECTOR OF FINANCE THE ACCOUNTING DIRECTOR AND CEO AND BUSINESS DEVELOPMENT E.N. LANARA S.P. KOKKALIS C.G. ANTONOPOULOS I. O. PANTOLEON ID.No. Λ 682542 ID. No. Π 695792 ID. No. M 102737 ID. No. Σ 637090 H.E.C. License No. 133/A' Class
| 30/06/2005 respectively) | GROUP | COMPANY | ||||||
|---|---|---|---|---|---|---|---|---|
| 1/1-30/06/2006 | 1/1-30/06/2005 | 1/1-30/06/2006 | 1/1-30/06/2005 | |||||
| Operating Activities | ||||||||
| Sypplementary information | Net Profit before Taxation | 114.073 | 79.553 | 62.571 | 40.626 | |||
| Plus /Less adjustments for: | ||||||||
| 1. The companies included in the consolidation, with the relevant addresses and the relevant participation percentages are the following: | Depreciation and Amortization | 9.941 | 7.277 | 3.535 | 1.511 | |||
| Provisions | 15.899 | -104 | 70 | -18 | ||||
| Profit from sales of tangible and intangible assets | 0 | -21 | 0 | -40 | ||||
| I. Full Consolidation | Results from Investing Activities | 4.410 | 0 | 938 | 0 | |||
| 144.323 | 86.705 | 67.114 | 42.079 | |||||
| COMPANY | BASE | PARTICIPATION PERCENTAGE |
Subsidiary of the company: | |||||
| Debit Interest and similar expenses | 6.854 | 2.089 | 2.436 | 647 | ||||
| INTRALOT SA | Maroussi | Parent | 1: Intralot Betting Operations (Cyprus) Ltd | Credit Interest | -8.703 | -3.829 | -10.638 | -13.263 |
| Plus/ Less adjustments of working capital to net cash or related | ||||||||
| BETTING COMPANY SA*** | N. Hiraklion | 100% | 2: Intralot Holdings International Ltd | to operating activities: | ||||
| INTRALOT DE CHILE SA* | Santiago, Chile | 99,99% | 3: Bilot EOOD | |||||
| INTRALOT DE PERU SAC* | Lima, Peru | 99,98% | 4: Eurofootball Ltd | Increase/Decrease of Inventories | -5.565 | -17.530 | -3.859 | -6.010 |
| INTRALOT INC.* | Atlanta, USA | 85% | 5: Intralot International Ltd | Increase/Decrease of Receivable Accounts | -11.786 | -41.167 | -27.179 | -2.697 |
| INTRALOT BETTING OPERATIONS (CYPRUS) LTD* | Nicosia, Cyprus | 54,95% | 6: Pollot Sp.Zoo | Increase/Decrease of Payable Accounts (except Banks) | -17.955 | -9.203 | -2.819 | -12.897 |
| ROYAL HIGHGATE LTD*** | Paralimni, Cyprus | 53,47%(& 3,24% | 7: White Eagle Investments Ltd | |||||
| POLLOT Sp.zoo* | Warsow, Poland | 100% | 8: Instant Lottery SA | (Less): | ||||
| ΜALTCO LOTTERIES LTD* | Valetta, Malta | 73% | 9: Atropos SA | Interest Paid and similar expenses paid | 6.855 | 2.246 | 2.436 | 647 |
| ΙΝTRALOT HOLDINGS INTERNATIONAL LTD* | Nicosia, Cyprus | 100% | 10: AEDIL SA | Income Tax Paid | 29.301 | 8.884 | 5.887 | 6.240 |
| LOTROM SA** | Bucharest,Romania | 60% | 11:Betarial Sp.Zoo | |||||
| YUGOLOT LTD** | Belgrade, Serbia& | 100% | 12: Uniclic Ltd | Net Cash from Operating Activities (a) | ||||
| Montenegro | Investing Activities | 71.012 | 5.935 | 16.732 | 972 | |||
| BILOT EOOD** | Sofia, Bulgaria | 100% | 13: Betting Company SA | |||||
| EUROFOOTBALL LTD EUROFOOTBALL PRINT LTD |
Sofia, Bulgaria Sofia, Bulgaria |
49% 100% |
* Companies with direct participation | Purchases of subsidiaries, associates and other investments | -72.586 | -3.686 | -73.248 | -168 |
| INTRALOT INTERNATIONAL LTD** | Nicosia, Cyprus | 100% | ** Companies with indirect participation | Purchases of tangible and intangible assets | -24.360 | -8.520 | -2.763 | -3.953 |
| INTRALOT OPERATIONS LTD** | Nicosia, Cyprus | 100% | ***Companies with direct and indirect participation | Proceeds from sales of tangible and intangible assets | 49 | 84 | 0 | 69 |
| INTRALOT BUSINESS DEVELOPMENT LTD** | Nicosia, Cyprus | 100% | Interest received | 8.877 | 3.825 | 10.638 | 438 | |
| INTRALOT TECHNOLOGIES LTD** | Nicosia, Cyprus | 100% | Dividends received | 0 | 0 | 0 | 12.825 | |
| INTELTEK INTERNET AS* | Istanbul, Turkey | 45% | ||||||
| LOTERIA MOLDOVEI SA* | Chisinau, Moldova | 47,90% | ||||||
| 6,7,1 TOTOLOTEK SA** | Warsow, Poland | 54% | Net Cash from Investing Activities (b) | -88.020 | -8.297 | -65.373 | 9.211 | |
| WHITE EAGLE INVESTMENTS LTD** | Hertfordshire, United Kingdom |
100% | Financing Activities | |||||
| BETA RIAL Sp.Zoo** | Warsow, Poland | 100% | Cash inflows from loans | 107.819 | 10.355 | 90.459 | 5.000 | |
| YUVENGA CJSC** | Moscow, Russia | 49% | Repayment of Loans | -3.897 | -3.988 | 0 | 0 | |
| UNICLIC LTD** | Nicosia, Cyprus | 50% | Dividends paid | -40.927 | -36.204 | -35.385 | -30.345 | |
| DOWA LTD** | Nicosia, Cyprus | 60% | ||||||
| INTRALOT NEW ZEALAND LTD* | Wellington, New Zealand | 100% | ||||||
| BETTING CYPRUS LTD** | Nicosia, Cyprus | 100% | Net Cash from Financing Activities © | 62.995 | -29.837 | 55.074 | -25.345 | |
| INTRALOT EGYPT LTD** | Nicosia, Cyprus | 88,24% | Net increase / (decrease) in cash and cash equivalents for the | 45.987 | -32.199 | 6.433 | -15.163 | |
| YUGOBET LTD** | Belgrade, Serbia& | 100% | Cash and cash equivalents at the beginning of the year | 157.326 | 134.977 | 21.398 | 26.586 | |
| II. Equity Method | Montenegro | Exchange rate differences from the conversion of Cash Equivalents |
-13.489 | 4.210 | 0 | 0 | ||
| Cash and cash equivalents at the end of the year | 189.824 | 106.988 | 27.831 | 11.423 |
9.There are no legal issues with material effect on the financial position of the Group.
The company has not undergone tax authorities fiscal control for the last one to two years, while the rest companies that are included in the consolidation have not undergone tax authorities fiscal control for the last one to five fiscal years.
There are no real liens.
The Liabilities account "Other Short-term Liabilities" by Euro 29,5 approximately millions represents provision for contingent cost excess concerning betting games at pre-determined yield.
Maroussi, August 28, 2006.
Following the share option, during 2005, the share capital was increased by € 26.125,7 with the issue of 70.610 shares with a nominal value of € 0.37 each. Payment of this amount was confirmed by the Board of Directors on 19.12.05 while the share capital increase and confirmation of this amount were approved by decisions K2-16475/2-1-2006 and K2- 16476/2-1-2006 of the Ministry of Development.
The group acknowledges as income annualized during contract duration, the income that results from the equipment handed over to customers in those cases where these are part of the income resulting from games operation contracts.The effect of the adjustment between the comparatives of the previous period in relation with the relevant amounts that were published at 30/06/2005 comes up, for the consolidated revenues and the equity, to the amounts of 5.3 and 6.9 mil € respectively, while the respective amounts which concern the parent company come up to the amounts of 3.2 and 10.3 mil € respectively.
The personnel employed of the Company and the Group as at the end of the current period is 369 and 2.902 respectively.
The company holds dominant influence in Loteria Moldovei Sa, and for that purpose Loteria Moldovei Sa is consolidated with the Full Consolidation Method. Also, Inteltek Internet AS is included in the consolidation with the Full Consolidation Method, since the Group holds dominant influence in the company's financing and operating activities, as well as in the determination of its internal procedures. Furhermore the Group has access in the company's accounting books and other information.
The amounts of Sales and Purchases, of goods and services, accumulated from the opening balance of the period, as well as the receivables and payables balances for the period ended June 30, 2006 to and from the related parties according to IAS 24, come up for the Group to the amounts of € 2.538 thousands, € 11.968 thousands, € 31.788 thousands and € 33.646 thousands respectively and for the company to the amounts of € 94.297 thousands., € 16.925 thousands., € 109.874 thousands and € 39.808 thousands, respectively.
amounts reported in thousands of€ Public Companies (S.A.) Reg. No. 27074/06/B/92/9
INTEGRATED LOTTERY SYSTEMS AND SERVICES Notes and information of Group and Company for the period from 1 January 2006 until 30 June 2006
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