Full Year 2025 Lottomatica Group SpA Earnings Call Transcript
Key Points
- Lottomatica Group SpA (LOTMY) reported a 21% year-on-year growth in EBITDA and a 45% increase in adjusted net profit for 2025.
- The company successfully completed the PWO integration, achieving EUR90 million in synergies, 34% more than initially announced.
- Lottomatica Group SpA (LOTMY) optimized its cost of debt with a successful refinancing, resulting in EUR24 million annual savings in interest costs.
- The company has entered the FTSE MIB and now has liquidity above EUR50 million per day, significantly higher than the IPO level.
- Lottomatica Group SpA (LOTMY) plans to return capital to shareholders through dividends and a buyback program, with a proposed dividend of EUR0.44 per share and authorization for an additional 12.5% share buyback.
- The net leverage remains at 2.4x, which would have been lower without the buyback, indicating a potential constraint on financial flexibility.
- The gaming franchise segment showed minimal growth, with revenues up only 1% and EBITDA up 3%, indicating potential stagnation in this area.
- The upfront payment for the online concession CapEx increased significantly, impacting cash flow.
- The company faces ongoing pressure from smaller operators losing market share, which could impact competitive dynamics.
- The technical certification of new systems may require a slowdown in new product launches, potentially affecting growth momentum.
Good morning. This is the chorus call conference operator. Welcome, and thank you for joining the Lottomatica Group's full year 2025 results conference call. (Operator Instructions)
At this time, I would like to turn the conference over to Mr. Mirko Senesi, Head of Investor Relations of Lottomatica. Please go ahead, sir.
Thanks, operator, and good morning to everyone. Welcome to Lottomatica full year results presentation. I'm here today with our CEO, Guglielmo Angelozzi; and our CFO, Laurence Van Lancker.
Now, the floor directly to Guglielmo for the presentation. Guglielmo, please?
Thank you, Mirko. Good morning to everybody. We start from page 3 of the deck. Very happy to share with you that we had another very solid print for 2025. EBITDA growth 21% year on year and adjusted net profit 45%. We have returned a significant amount of capital to our
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