Australian slot machine supplier Ainsworth Game Technology Limited (AGT) returned to profit in the financial year ended 30 June 2022, aided by improved performance in Latin America and the global-wide recovery from the COVID-19 pandemic.
Profit After Tax reached AU$11.8 million (US$8.2 million), reversing an AU$53.4 million (US$37.1 million) loss in FY21 on the back of a 38% year-on-year increase in revenue to AU$220.2 million (US$152.9 million). This included revenue of AU$100.7 million (US$69.9 million) in the first six months of the financial year and AU$119.5 million (US$83.0 million) in the second half.
EBITDA of AU$37.1 million (US$25.8 million) also reversed a FY21 EBITDA loss of AU$26.6 million (US$18.5 million).
AGT said international revenues climbed by 50% in FY22 and now comprise 82% of the company’s business, while recurring revenues increased by 28%.
The improved results were primarily driven by strong product performance in North America, where revenue grew by 30%, while revenue in Latin America climbed by 185% thanks to venue re-openings and a significant increase in unit sales.
In Australia, revenue was largely flat year-on-year, impacted by the COVID-19 lockdowns in NSW from July to October 2021, however Queensland saw revenues increase 36% year-on-year including a 26% improvement in the second half of the year compared to the first.
“I am pleased to report much improved earnings from Ainsworth this year,” said AGT’s CEO, Harald Neumann.
“AGT’s performance continued to improve through the year driven by re-openings and recovery in many of our major international markets. While our domestic performance does not yet reflect our potential, I am encouraged with the investments we have made to fundamentally upgrade and further improve game performance which we expect to deliver further improvement in our results.
“This is key to our long-term sustained success and I look forward to updating you as we make continued progress.”
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