Lottomatica Group S.p.A. has released its Condensed Consolidated Interim Financial Statements for the first half of 2024, highlighting a significant increase in Adjusted EBITDA, which rose by 17% compared to the previous year. The company also achieved an all-time high market share in the online sector. Based on this strong performance, the guidance for 2024 has been upgraded to an Adjusted EBITDA range of €700 to €730 million.
The Board of Directors of Lottomatica Group S.p.A. has approved the Condensed Consolidated Interim Financial Statements for the six months ended June 30, 2024.
In the first half of 2024, the company reported bets totaling €18.0 billion, a 23% increase compared to the same period in 2023. The online segment demonstrated exceptional growth, with a 41% increase year-over-year. Revenues reached €931.8 million, up 14% from the first half of 2023, with the online segment contributing €338.3 million, a 37% increase.
Adjusted EBITDA amounted to €317.3 million, reflecting a 6% increase compared to the first half of 2023 and a 17% rise from the second quarter of the previous year. The company also reported operating cash flow of €228.0 million.
Net financial debt stood at €1,913.1 million, equivalent to 2.7 times the LTM Adjusted EBITDA.
Following the strong organic growth in Q2, accelerated cost synergies realization, and anticipated bolt-on acquisitions, Lottomatica has revised its guidance for FY 2024, projecting revenues between €2,030 and €2,080 million and Adjusted EBITDA between €700 and €730 million.
Guglielmo Angelozzi, CEO of Lottomatica Group, commented: “In the second quarter of 2024, we continued our path of organic growth, supported by solid market share gains in Online leading to sustained double-digit growth in Revenues and EBITDA. We have successfully completed the acquisition of SKS and are progressing with the integration at a fast pace, having secured to date about 40% of the announced synergies.”
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