Welcome full-year recovery for Ainsworth Game Technology Limited

In Australia and gaming machines giant Ainsworth Game Technology Limited has released its financial results for the twelve months to the end of June showing that its net revenues increased by 38% year-on-year to top $152.9 million.

The Sydney-listed firm used an official filing (pdf) to detail that this figure encompassed first-half take-home receipts of about $69.9 million and was aided by its improved performance across Latin American markets as well as the continuing recovery of the worldwide sector following the considerable disruption of the coronavirus pandemic. The company also explained that this all helped to push its annual earnings before interest, tax, depreciation and amortization up to approximately $25.8 million, which was a welcome reversal on the about $18.5 million loss it experienced for the preceding twelve-month period.

Returns restoration:

To further highlight its ongoing revival and Ainsworth Game Technology Limited disclosed that its profit after tax for the year to the end of June had surpassed $8.2 million, which represented a boost of 122% when compared to the around $37.1 million deficit it chalked up for the previous twelve months. The prominent developer moreover noted that this had despite just a 0.1% comparable improvement in its earnings before interest, tax, depreciation and amortization margin to 16.8%.

Global growth:

Harald Neumann serves as the Chief Executive Officer for Sydney-headquartered Ainsworth Game Technology Limited and he used the filing to assert that his firm’s international revenues for the twelve months to the end of June had climbed by 50% year-on-year to now comprise 82% of its aggregated receipts. The experienced figure furthermore pronounced that the company’s recurring annual returns had improved by 28% while its business in Latin America experienced a 185% swell thanks to venue re-openings and an associated lift in unit sales

American achievement:

Ainsworth Game Technology Limited went on to divulge that its annual revenues from North America, where the company is responsible for a Las Vegas-headquartered manufacturing facility, had grown by 30% year-on-year although its receipts from Australia remained relatively flat owing to the impacts of the four-month coronavirus-related lockdown in the state of New South Wales. Nevertheless, the firm additionally pointed to a 36% advance in its income from Queensland, which had encompassed a healthy sequential upgrade for the second-half of the twelve-month period of 26%.

Read a statement from Neumann…

“Ainsworth Game Technology Limited’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.”