Lottomatica Group Spa (LTMGF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. Welcome to L'Automatica Q1 2025 results presentation. I'm here today with our CEO, Guglielmo Angelozzi, and our CFO, Lorenzo Vallangher. Now the floor directly to Guglielmo for the presentation. Guglielmo, please. Thank you, Mirko. Good morning, everybody. Very happy To start with page two of the presentation, we're off with a very good start of the year. This is at market level. Online market continues to grow in a very healthy manner in the first quarter of 2025, with 18% up compared to last year. Payout for sports is very good, better than the normalized levels, both online and retail, and much better than the same period last year. And Lotomatica continues to outperform the market. This results into the best Q1 ever for us at $220 million. million euros of EBITDA, which is 47% up on our reported base compared to the same quarter of last year. Let's now go to page number three. It's important here to There's a bunch of things in this call, and we wanted to focus on the short-term good news, which are several, but also then have a deep dive on the structural advantages. In terms of short-term good news, We're happy to announce that we increased the target synergies for the PWO former SKS integration of 12.5 million euros, all cost synergies, which brings the target at 87 million euros by 2026. 61% of the synergies are already secured to date. And another very important element that I want to share is that the platform migration is underway and on track. This is usually the most complex part of an integration. All tech developments have been completed and we've pressed the button both for the retail and online. And the migration process will proceed and complete during the summer, most likely ahead of the original plans. The second very good ...