Australian gaming machine manufacturer Ainsworth Game Technology has reported a strong turnaround in profit after tax for 2024, reversing a AU$6.5 million ($6.12 million) loss into a AU$30.3 million ($19.2 million) gain for the year.
According to the group’s most recent financials, this came despite a 6.1 percent yearly drop in revenue for the Asia Pacific segment, which totaled AU$42.7 million ($27.05 million) – the group’s third-highest performing segment.
This resulted in a segment profit of AU$2.7 million ($1.7 million), down slightly by 0.7 percent.
The group noted that during the period, the decrease in revenue was ‘mainly driven by the lower sales unit volume within Asia and New Zealand regions due to competitive market conditions’.
Results in North America continued to lead in regards to segment, with AU$147 million ($93.12 million) in revenue, up by 6.6 percent yearly, leading to a 3.2 percent increase in the segment’s profit – at AU$68.2 million ($43.2 million).
The group’s Latin America & Europe segment saw revenue fall by 13.3 percent yearly, to AU$66.8 million ($42.32 million), with profit down by 5.6 percent to AU$27.5 million ($17.42 million).
The group’s Online Gaming segment also saw a downturn, with revenue falling by 8 percent yearly to AU$7.6 million ($4.8 million) and profit down by 7.1 percent to AU$6.9 million ($4.37 million).
Overall revenue for the year was down by 20.8 percent, to AU$264.1 million ($167.3 million), while reported EBITDA actually rose by 38.8 percent, to AU$58.9 million ($37.3 million).
No dividends were declared and paid by the company for the year.
