Lottomatica Forecasts Strong 2026 Profit as Q1 Earnings Exceed Expectations
Lottomatica's Q1 2024 Financial Performance and Future Outlook
May 6 (Reuters) - Italian betting firm Lottomatica on Wednesday reported 7% growth in its first-quarter adjusted core profit (EBITDA) and forecast full-year earnings at the top end of its previously given outlook range of 940 million to 980 million euros ($1.10 billion to $1.15 billion).
Market Position and Strategic Advantages
The Rome-based company operates primarily in Italy, which is the largest regulated gambling market in Europe. It has benefited from a structural shift towards online channels, a trend that accelerated during the pandemic and has shown resilience since.
Key Financial Highlights
Q1 2024 Results
- Adjusted EBITDA was 235.5 million euros in Q1, beating a company-provided consensus of 231 million euros cited by Equita
- Revenue rose 3% to 602.3 million euros, in line with consensus
- Adjusted net profit grew 12% from a year ago to 106 million euros
Shareholder Returns
- Shareholders approved an additional buyback programme for 12.5% of the share capital, allowing up to 1 billion euros in returns over 2026-2027
Currency Exchange Rate
($1 = 0.8524 euros)
Reporting Credits
(Reporting by Romolo Tosiani; Editing by Milla Nissi-Prussak)
