Ainsworth Game Technology Limited (ASX:AGI) Announces H1CY25 Trading Update
Financial Performance
Ainsworth Game Technology Limited expects a profit before tax of approximately $14.0 million for H1CY25, similar to the $14.3 million reported in the previous corresponding period.
Revenue Highlights
Total revenue for H1CY25 is projected to improve by around 6.0% to $142.7 million compared to H2CY24. This growth is mainly due to increased revenue from Australia following the February 2025 release of the RaptorTM cabinet. Revenue in North America is expected to remain consistent with H2CY24 on a constant currency basis. However, revenue in the Latam/Europe region is anticipated to decrease by approximately 14% compared to H2CY24, despite higher recurring revenue from gaming operations.
Operating Margins and Investments
Segment margins are expected to be consistent with H2CY24, with improved operating leverage in Australia offsetting lower margins in Latam/Europe. The North American segment margin will remain similar to the previous half. Investment in research and development is maintained at approximately 17.0% of total revenue, up from 16.6% in H2CY24. Underlying EBITDA for H1CY25 is anticipated to be comparable to the $26.8 million reported for the prior corresponding period.
Executive Comments
AGI Chair Mr Danny Gladstone stated, “The expected result outlined above is in line with our expectations and reflects previously initiated strategies undertaken, including the initial growth of Australian revenues following the launch of the RaptorTM cabinet, offset against ongoing challenging conditions in our international markets, and an increased cost base and continued investment to support our revenue growth.” Mr Gladstone added, “Consistent with AGI’s market announcement on 28 April 2025, the Independent Board committee (which was established to assess the Scheme Proposal by AGI’s majority shareholder Novomatic AG, to acquire all the shares in AGI that it does not currently own), recommends that shareholders vote in favour of the Scheme, in the absence of a superior proposal and the independent expert concluding that it is in the best interests of AGI shareholders.”
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