Lottomatica Group Spa (LTMGF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, this is the course call conference operator. Welcome, and thank you for joining the Lottomatica Group's H1-2026 results conference call. As a reminder, all participants are in listen-only mode. After the presentation, there will be an opportunity to ask questions. Should anyone need assistance during the conference call, they may signal an operator by pressing star and zero on their telephone. At this time, I would like to turn the conference over to Mr. Mirko Senezi, Head of IR of Lottomatica. Please go ahead, sir. Thanks, operator, and good morning to everyone. Welcome to Lottomatica Q2 2026 results presentation. I'm here today with our CEO, Guglielmo Angelozzi, and our CFO, Lorenzo Vallanca. Now the floor directly to Guglielmo for the presentation. Guglielmo, please. Thanks Mirko and good morning to everybody. Let's go up page two of the deck, another very good quarter and another very good semester. We increased EBITDA 14% reported, 17% on a normalized basis in the quarter, which means 10% for the semester on a reported basis recovering chunk of the payout issue that the market had in Q1, and 20% increase on a normalized basis for the entire semester. Even better for the online, of course, which is growing 21% in the semester at a reported level, and 24% for the quarter and 25% at a normalized level. So very strong results in terms of EBITDA. even more so in terms of margins, which increase two points in the semester at group level from 37% to 39%, and mainly driven by the consistent increase in the online profitability from 54% to 58%. Page number three of the presentation. What are the drivers of this growth? The same which we've had in the last 10 years, basically. Strong market growth, 12% in overall online. June peaks at 19%. Of course, very st...