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) AGT Reports 10.4% Increase in Profits Driven by North American Market
- 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) AGT Reports 10.4% Increase in Profits Driven by North American Market
- Total Assets – AU$418.4 million ($271.9 million/€250.7 million) AGT Reports 10.4% Increase in Profits Driven by North American Market
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
AGT Reports 10.4% Increase in Profits Driven by North American MarketHe 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.”
