Italy · Delayed Price · Currency is EUR Lottomatica Group Earnings Call Transcripts
Fiscal Year 2026
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A transformative all-share merger creates a global gaming leader with €2 billion EBITDA, strong market positions in Italy and Spain, and significant cost synergies. The deal accelerates online growth, maintains robust capital returns, and is expected to close by Q2 2027.
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EBITDA and margins rose strongly in H1 2026, led by online growth and operational efficiencies. Market share gains continued across segments, with capital returns prioritized and AI projects supporting future revenue optimization.
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Normalized EBITDA grew 22% and revenues 10% year-over-year, with strong online and sports performance and market share gains. Cost of debt was reduced via refinancing, and guidance was raised to the top end, supported by robust market trends and cost efficiencies.
Fiscal Year 2025
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EBITDA rose 21% and adjusted net profit 45% year-over-year, driven by strong online growth and successful integration of acquisitions. Market share increased, with robust cash flow supporting EUR 375 million in shareholder returns and a new buyback program. Guidance for 2026 anticipates continued double-digit online growth.
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Q3 delivered strong growth with EBITDA up 18% and market share at a record high, driven by online and product innovation. PWO integration completed ahead of plan, synergies realized early, and disciplined capital allocation continues, with further market share gains expected in 2026.
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Q2 and H1 2025 saw double-digit revenue and EBITDA growth, driven by strong online and sports franchise performance, successful PWO integration, and market share gains. Guidance for 2025 is confirmed, with further synergies and bolt-on opportunities expected.
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Q1 2025 delivered record EBITDA and strong revenue growth, driven by online and sports segments. Platform integration, cost synergies, and refinancing enhanced margins and reduced leverage, while a €500 million share buyback and disciplined M&A remain priorities.
Fiscal Year 2024
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2024 saw record revenues and EBITDA, driven by strong online growth and successful PWO integration. Guidance for 2025 anticipates continued double-digit growth, with capital returns via dividends and potential share buybacks, while maintaining disciplined leverage and pursuing selective M&A.
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Q3 EBITDA rose 30% year-over-year to €166 million, with strong online growth and market share gains. 2024 guidance is reaffirmed, and additional synergies and bolt-ons are expected to further boost results. Net leverage stands at 2.6x, with continued focus on omnichannel and M&A.
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Q2 2024 saw record online market share, 17% EBITDA growth, and upgraded full-year guidance. SKS integration and bolt-on acquisitions are ahead of plan, with strong cash flow and margin improvement. Market and regulatory conditions remain favorable.