Lottomatica Group's consolidated revenue for the first quarter of 2025 was EUR 585.7 million (USD 665.8 million), a 33% increase year-over-year.
The online sector led the growth, with revenues reaching EUR 239.8 million, up 59% year-over-year. The increase in online betting volume by 46%, reaching EUR 7.36 billion, drove this growth.
Adjusted EBITDA rose to EUR 220.5 million, a 47% increase, with the EBITDA margin expanding to 37.6%, compared to 34.0% in the first quarter of 2024. Net profit climbed from EUR 29.9 million to EUR 51.5 million, a 72% increase.
The company's sports franchising division also saw strong growth, with revenue increasing by 59% to EUR 150.4 million. Meanwhile, the gaming franchising division's performance was stable at EUR 195.5 million, a 0.1% increase from the previous year.
Operating cash flow surged by 67%, reaching EUR 184.4 million. Net financial debt decreased to EUR 1.8 billion, with a leverage ratio of 2.1 times based on long-term rate-adjusted EBITDA. The group's recent EUR 1.1 billion refinancing transaction is expected to save EUR 24 million in interest annually starting from 2026.
To return capital to shareholders, Lottomatica will initiate a EUR 500 million share buyback program over 18 months starting in June 2025.
The company also raised its synergy target from the acquisition of PWO from the initial EUR 75 million to EUR 87 million by 2026.
Lottomatica reiterated its full-year 2025 forecast, expecting revenues of EUR 2.32 billion to EUR 2.37 billion and adjusted EBITDA of EUR 840 million to EUR 870 million, noting that its digital and franchising businesses continue to perform strongly.
The first quarter results continued the robust performance of the 2024 fiscal year, with a 23% increase in revenue to EUR 2 billion, including a 50% increase in online gaming revenue.
