Australian slots manufacturer Ainsworth Gaming Technology (AGT) has released its full year results for the calendar year 2023 revealing a 10.4% increase in profits before tax.
In an ASX announcement, the company revealed that profit before tax for CY23 came to AU$41.5 million ($27 million/€24.9 million) , up by 10.4% compared to the previous year’s profit of AU$37.6 million.
AGT 2023 Highlights
- Revenue – AU$284.9 million ($185.2 million/€170.7 million)
- EBITDA – AU$18.9 million ($12.3 million/€11.3 million)
- Underlying EBITDA – AU$57.8 ($37.5 million/€34.6 million)
- Profit before tax (PBT) – AU$2.6 ($1.7 million/€1.5 million)
- Underlying PBT – AU$41.5 million ($27 million/€24.9 million)
- (Loss) / Profit after tax (PAT) – (AU$9.0)million ($5.8 million/€5.4 million)
- Underlying PAT – AU$23.8 million ($15.5 million/€14.2 million)
- Total Assets – AU$418.4 million ($271.9 million/€250.7 million)
- Net Assets – AU$313.1 million ($203.5 million/€187.6 million)
According to the company statement, international revenues continue to drive growth with non-Australian markets increasing by 24% and now accounting for 86% of all group revenues.
Of all segment, AGT’s North American business generated the most revenues with AU$140.4 million ($91.2 million/€84.1 million), up by 19% year-on-year. North American business generated 57% of all international revenues for the year.
AGT’s Chairman Mr Danny Gladstone, commented
“I am pleased and encouraged by the progress and the investments the Company has made in the current period. These investments have laid the foundations to develop and release new and innovative products to further improve the Group’s financial results in coming periods.”
He went on to add:
“Following the announcement made in November 2023 where the Company advised on the engagement of Macquarie Capital as the Company’s financial advisor, a strategic review of all potential opportunities has progressed in the period. This strategic review encompasses a number of potential alternatives to maximise shareholder value. While there is no assurance that any transaction will result from this strategic review, we will continue to keep the market updated.”
Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.