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IGT reports 4th quarter and full year 2019 results

Tuesday 03 de March 2020 / 14:31

⏱ 1 min read

(London).- International Game Technology PLC today reported financial results for the fourth quarter and full year ended December 31, 2019. Today, at 8:00 a.m. EST, management will host a conference call and webcast to present the results; access details are provided below.

IGT reports 4th quarter and full year 2019 results

- Achieved record global gaming product sales in 2019

- Full-year net loss of $19 million includes $99 million non-cash goodwill impairment charge

- 2019 Adjusted EBITDA of $1.71 billion, in top half of outlook

- Fourth quarter net loss of $168 million reflects non-cash FX losses and impairment charge; Adjusted EBITDA of $436 million driven by higher profits from North America Gaming and International segments

- $1.09 billion in operating cash flow for 2019; free cash flow of $651 million

"We achieved the high end of our profit and cash flow expectations for 2019, led by strong results for our North America Gaming and Italy segments," said Marco Sala, CEO of IGT. "In the full year, we grew global gaming product sales by more than 20% thanks to higher unit shipments and the success of our new games. Global lottery same-store revenue also rose. We are closely monitoring the impact of the Coronavirus outbreak. Apart from this, solid operational performance across products and regions should support continued momentum in 2020."

"2019 marked an important inflection in cash flows for IGT," said Timothy Rishton, Interim CFO of IGT. "Having generated $1.1 billion in cash from operations, we invested in the business, paid down debt, and returned capital to shareholders. We enter 2020 in strong financial condition."

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