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Highlights
- H1CY25 pre-tax profit forecast steady at $14 million
- Revenue grows 6% on strong Australian performance
- Continued investment in R&D at 17% of total revenue
Ainsworth Game Technology (ASX:AGI), a key player in gaming technology, has released its trading update for the first half of calendar year 2025 (H1CY25), forecasting a steady profit before tax of approximately $14.0 million—closely in line with the $14.3 million recorded in the prior corresponding period.
The company expects total revenue to reach around $142.7 million, marking a 6.0% improvement compared to the second half of 2024. This uplift is primarily attributed to growth in the Australian segment, boosted by the February launch of the Raptor™ cabinet, which has generated positive momentum in the domestic market.
In contrast, performance in international markets has been mixed. Revenue in North America is projected to remain steady on a constant currency basis, while the Latin America and Europe (Latam/Europe) segment is anticipated to decline by approximately 14% compared to H2CY24. Notably, this decrease comes despite an uptick in recurring revenue from gaming operations, pointing to broader macroeconomic or regulatory headwinds.
Operating margins are expected to remain consistent with the previous half. Australian operations are benefiting from stronger operating leverage, which helps balance lower margins from Latam/Europe. The North American business is forecast to maintain its margin performance, further stabilizing the group’s outlook.
Ainsworth continues to allocate approximately 17.0% of its revenue to research and development, an increase from 16.6% in H2CY24, highlighting its commitment to innovation in a competitive gaming technology landscape. Underlying EBITDA is forecast to be in line with the $26.8 million reported in the previous corresponding period.
Chairman Danny Gladstone emphasized that these results reflect the company’s strategic initiatives, including domestic growth, persistent global challenges, and ongoing investment to drive long-term expansion. He also reiterated the board’s recommendation for shareholders to vote in favor of the proposed scheme by Novomatic AG—AGI’s majority shareholder—to acquire the remaining shares, in the absence of a superior offer and subject to an independent expert’s conclusion.
As investors assess AGI's update, it adds another layer of context for those tracking companies within the broader ASX200 index and exploring ASX dividend stocks with stable cash flows and consistent performance.
