Ainsworth Game Technology, also known as AGT, witnessed a substantial revenue surge in the initial six months of the 2022 fiscal year. Their earnings reached A$100.7 million, marking a 40% increase compared to the corresponding period the previous year. This equates to approximately US$72.3 million.
The organization’s earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to around A$20.7 million, a significant difference from the A$1.1 million recorded in the prior year. Their pre-tax profit also experienced a positive shift, reaching A$10 million compared to an A$18.7 million loss the year before.
AGT declared an after-tax profit of A$9.1 million, a considerable enhancement from the A$50.1 million loss during the same timeframe last year, which was significantly affected by the global health crisis.
The firm attributed this favorable outcome to various elements. Heightened recurring income from their Historical Horse Racing (HHR) devices, notably the distribution of 400 units within North America, played a crucial part. The resurgence of the Latin American market, as leisure facilities resumed operations and economies stabilized, further fueled the expansion. Moreover, their digital segment exhibited robust results.
Overseas revenue played a pivotal role, showcasing the company’s international presence. This sector soared by 59% year-over-year, currently constituting 83% of the group’s overall revenue. This upswing can be linked to improving worldwide trade circumstances. AGT emphasized the significance of recurring income within their growth plan, which witnessed a steady 28% rise.
Although Australian revenue encountered a 13% decrease, North America flourished with a 33% surge, attaining A$54.6 million.
The initial six months have shown encouraging progress, with markets bouncing back and regaining strength, notably in crucial areas like global and North American sectors,” stated Harald Neumann, AGT’s Chief Executive Officer. “We foresee this upward trend persisting, especially in locations such as Australia and Latin America. Simultaneously, we remain proactive. We’re dedicating resources to enhancing our games and advancing novel technologies. Our priority is swift deployment of these captivating new offerings, guaranteeing they deliver exceptional results for our clientele. This strategy underpins our sustained triumph, and we’re enthusiastic about sharing our advancements with you throughout this journey.”