Lottomatica Reports Record Growth in H1 2024
Date: 2024-07-31 Author: Alex Crawford Categories: PAYMENT SOLUTIONS
The Lottomatica Group has published its financial results for the first half of 2024, demonstrating impressive growth and strengthening its market position. The company’s total betting volume reached €18.0 billion ($19.4 billion), representing an increase of 23% compared to the previous year. This growth demonstrates the growing interest in Lottomatica’s services and its successful expansion strategy.
Revenue and Online Segment
In the first half of 2024, Lottomatica’s revenue was €931.8 million, up 20% year-on-year on a normalized payout basis. The company’s online segment delivered particularly strong results, with revenues of €338.3 million, up 37% year-on-year. In Q2 2024, the online segment’s revenues were €187.9 million, up 53%.
In the sports franchises segment, Lottomatica recorded revenues of €213.7 million, up 4% year-on-year. The gaming franchises segment also showed growth, with revenues of €379.8 million, up 3%. These results confirm the success of the company’s business models across the various gambling segments.
Adjusted EBITDA and Profit
Adjusted EBITDA for the first half of 2024 was €317.3 million, up 21% on a normalized payout basis. At the same time, adjusted EBITDA for Q2 2024 was €167.8 million, up 17%. However, adjusted net profit was €105.3 million, slightly below last year’s figures due to the early amortization of concession fees.
Lottomatica achieved new highs in its market share in Q2 and June 2024. The online market share was 29.1%, the iSports market share was 29.7%, and the iGaming market share was 29.5%. These figures confirm the company’s leadership in key market segments.
As of June 30, 2024, Lottomatica’s net financial debt was €1.9 billion, and net leverage was 2.7 times the trailing twelve-month adjusted EBITDA.
Revised Full-Year Forecast
Due to the strong performance and successful realization of cost synergies, Lottomatica has revised its 2024 forecast upwards. Revenue is expected to be between €2.03 billion and €2.08 billion, with adjusted EBITDA forecast to be in the range of €700 million and €730 million.
In Q1 2024, Lottomatica already reported revenue growth of 4%, reaching €440.1 million, with significant growth recorded in the online segment. This growth was also supported by the completion of the acquisition of SKS365, which had a positive impact on the company's financial results for the first half of the year.
Lottomatica continues to demonstrate strong results and growth in the first half of 2024, strengthening its market position and successfully expanding its presence in key segments. The company is optimistic about the future, expecting further revenue and profitability growth in the remainder of the year.
