Lottomatica surpasses expectations in ‘outstanding’ 2024

Lottomatica has reported impressive growth, eclipsing both revenue and adjusted EBITDA expectations in what Chief Executive Guglielmo Angelozzi labeled an “outstanding” year for the company in 2024.

For the fiscal year ending December 31, 2024, Lottomatica achieved a substantial revenue of €2 billion (£1.65 billion/$2.1 billion), reflecting a remarkable 23% increase from the €1.63 billion recorded in the prior financial year.

In a detailed results announcement on March 4, Lottomatica indicated that this revenue surpassed the initial forecast range of €1.8 billion to €1.85 billion provided at the same time last year. Furthermore, the figures align with the revised guidance published in July 2024.

The primary driver behind this noteworthy growth was a staggering 50% surge in online revenue, which reached €780.2 million. This expansion was significantly bolstered by the acquisition of SKS365, finalized in April 2024, thereby enhancing Lottomatica’s online offerings and market position.

Additionally, total online bets rose sharply, up 51% year-on-year, reaching 24.49 billion. Major sporting events, including football’s Euro 2024 held in June and July, further stimulated this growth.

Net Profit Increases Despite Escalating Costs

While expenses increased across nearly all categories, with significant costs attributed to service operations (€1.21 billion), personnel expenses (€135.5 million), and depreciation, amortization, and impairment (€244.4 million), the impact of revenue growth ultimately outweighed these rising costs. Consequently, Lottomatica recorded a pre-tax profit of €180.9 million, representing a robust 32% increase from the previous year.

The company paid €77.1 million in taxes and accounted for €5.2 million of profit attributable to non-controlling interests. Accordingly, Lottomatica closed 2024 with a net profit of €98.6 million, marking a remarkable 45% increase over the prior year.

Moreover, adjusted EBITDA rose by 22% to €706.9 million for the year, exceeding the initial guidance of €625 million to €645 million and aligning with July’s revised forecast of €700 million to €730 million.

“2024 has been an outstanding year for our group, solidifying our leadership position across all segments and brands,” Angelozzi asserted. “We have exceeded expectations set at the beginning of the year and subsequent upward revisions.”

“Our growth strategy remains robust, focusing on both organic expansion and strategic acquisitions, including the recent acquisition of PWO, and continuing to implement our bolt-on strategy.”

Optimistic Projections for 2025

Looking forward to the coming year, Lottomatica has outlined ambitious projections. For revenue, the forecast ranges between €2.32 billion and €2.37 billion, indicating a midpoint increase of 17% compared to 2024.

In terms of adjusted EBITDA, expectations are set between €840 million and €870 million, with the midpoint suggesting a year-on-year growth of 21%.

“Our objectives for 2025 are centered around reinforcing our leadership across all segments by fostering product and technology innovation, developing our omnichannel offerings, and effectively managing the ongoing transition from retail to online platforms,” Angelozzi concluded.

Lottomatica’s strategic vision and robust performance underscore its commitment to navigating the dynamic gambling landscape successfully, retaining a competitive edge in an increasingly digital marketplace.