Financials Lottomatica Group S.p.A.

Equities

LTMC

IT0005541336

Casinos & Gaming

Real-time Borsa Italiana Other stock markets 03:42:25 2024-05-09 am EDT			5-day change	1st Jan Change
10.88 ^EUR	+0.55%		-0.91%	+11.13%

May. 02	Futures bullish; Mib restarts at 33,700 points	AN
Apr. 30	Mib in the red; Stellantis gives up double digits	AN

Valuation

Fiscal Period: December	2023	2024	2025	2026
Capitalization ¹	2,463	2,723	-	-
Enterprise Value (EV) ¹	3,712	4,623	4,090	3,877
P/E ratio	33.8 x	15.7 x	9.59 x	7.94 x
Yield	2.66%	2.8%	3.55%	4.12%
Capitalization / Revenue	1.49 x	1.35 x	1.29 x	1.2 x
EV / Revenue	2.25 x	2.3 x	1.94 x	1.71 x
EV / EBITDA	6.4 x	6.81 x	5.35 x	4.53 x
EV / FCF	13.1 x	24.1 x	12.1 x	9.44 x
FCF Yield	7.66%	4.15%	8.26%	10.6%
Price to Book	4.94 x	4.33 x	3.36 x	2.63 x
Nbr of stocks (in thousands)	251,630	251,630	-	-
Reference price ²	9.790	10.82	10.82	10.82
Announcement Date	2/29/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2022	2023	2024	2025	2026
Net sales ¹	1,408	1,651	2,014	2,105	2,274
EBITDA ¹	-	580.4	679.2	764.3	856.5
EBIT ¹	-	386.2	501	591.8	665.2
Operating Margin	-	23.39%	24.87%	28.12%	29.25%
Earnings before Tax (EBT) ¹	-	137.6	258.1	395.1	500.2
Net income ¹	73.04	68.3	166.3	275.4	339.6
Net margin	5.19%	4.14%	8.26%	13.09%	14.93%
EPS ²	-	0.2900	0.6884	1.129	1.362
Free Cash Flow ¹	-	284.3	192	338	410.8
FCF margin	-	17.22%	9.53%	16.06%	18.06%
FCF Conversion (EBITDA)	-	48.99%	28.27%	44.23%	47.96%
FCF Conversion (Net income)	-	416.23%	115.45%	122.74%	120.96%
Dividend per Share ²	-	0.2600	0.3035	0.3843	0.4460
Announcement Date	3/14/23	2/29/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q2	2023 S1	2023 Q3	2023 Q4	2023 S2	2024 Q1	2024 S1	2024 S2	2025 S1	2025 S2
Net sales ¹	397.8	820.1	374.9	-	830.9	444	-	-	960.3	975
EBITDA ¹	143	-	127.6	154	-	149.5	-	-	-	-
EBIT ¹	104.1	221.8	77.63	-	164.4	97.6	255.8	262.3	290.4	290.8
Operating Margin	26.16%	27.04%	20.71%	-	19.78%	21.98%	-	-	30.25%	29.83%
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-
Net income	-1.749	-	26.4	-	-	28.61	-	-	-	-
Net margin	-0.44%	-	7.04%	-	-	6.44%	-	-	-	-
EPS	-	-	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-
Announcement Date	7/28/23	7/28/23	10/31/23	2/29/24	2/29/24	4/30/24	-	-	-	-

¹EUR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2022	2023	2024	2025	2026
Net Debt ¹	-	1,249	1,900	1,368	1,155
Net Cash position ¹	-	-	-	-	-
Leverage (Debt/EBITDA)	-	2.152 x	2.797 x	1.789 x	1.348 x
Free Cash Flow ¹	-	284	192	338	411
ROE (net income / shareholders' equity)	-	78.5%	40.6%	43.7%	41%
ROA (Net income/ Total Assets)	-	7.15%	7.23%	9.17%	10.5%
Assets ¹	-	955.2	2,301	3,004	3,250
Book Value Per Share ²	-	1.980	2.500	3.220	4.110
Cash Flow per Share ²	-	1.730	1.520	1.910	2.280
Capex ¹	-	123	195	164	159
Capex / Sales	-	7.46%	9.66%	7.78%	6.98%
Announcement Date	3/14/23	2/29/24	-	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Lottomatica Group S.p.A.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

10.82 EUR

Average target price

14.46 EUR

Spread / Average Target

+33.60%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Other Casinos & Gaming

	1st Jan change	Capi.
LOTTOMATICA GROUP S.P.A.	+11.13%	2.93B
FLUTTER ENTERTAINMENT PLC	+15.10%	35.62B
EVOLUTION AB	+2.73%	23.9B
GALAXY ENTERTAINMENT GROUP LIMITED	-15.20%	20.6B
SANDS CHINA LTD	-11.82%	20.5B
DRAFTKINGS INC.	+21.45%	20.39B
ARISTOCRAT LEISURE LIMITED	-4.07%	16.52B
CHURCHILL DOWNS INCORPORATED	+3.09%	10.22B
CAESARS ENTERTAINMENT, INC.	-22.74%	7.84B
THE LOTTERY CORPORATION LIMITED	+3.93%	7.34B

Other Casinos & Gaming