Italy's Lottomatica posts 47% jump in first-quarter adjusted core profit
07/05/2025 07:03
May 7 (Reuters) - Italian betting firm Lottomatica LTMC.MI on Wednesday posted a 47% jump in first-quarter adjusted core profit, boosted by a favourable payout ratio offsetting the consolidation of PWO (formerly SKS365) acquired in April 2024. The Rome-based gambling group's January-to-March adjusted core profit (EBITDA) stood at 220.5 million euros ($250.4 million), while its net profit came in at 51.5 million euros, from 29.9 million euros in the same period last year. "We are off to a great start of the year, registering our best Q1 results ever and paving the way for a successful 2025," Chief Executive Guglielmo Angelozzi said in a statement. The company, which returned to the Milan stock exchange in 2023, also said it will launch in June a share buyback program for up to 500 million euros. ($1 = 0.8807 euros) (Reporting by Romolo Tosiani in Gdansk; Editing by Mrigank Dhaniwala) ((Romolo.Tosiani@tr.com;))