Allwyn trades in line with expectations

Finance News

Allwyn’s Revenue from gaming activities (GGR) increased significantly year-on-year in Q1 2024, with solid GGR momentum across most markets, reflecting continued focus on driving organic growth, in addition to a full quarter of contribution from the United Kingdom segment, revenue is in line with expectations of €2bn and €2.05bn during the first-quarter of 2024.

In Austria, GGR continued to progress year-on-year in the quarter, supported by a strong performance in iGaming. In the Czech Republic, GGR growth remained dynamic, up a double-digit percentage year on year on a constant FX basis, with growth across all major products; FX represented a headwind of 6pp, resulting in mid-single-digit percentage growth on a reported basis. In the United Kingdom, GGR was flat year-on-year on a constant FX and comparable presentation basis, with Numerical Lotteries outperforming.

Adjusted EBITDA growth was a mid-single-digit percentage year-on-year in Q1 2024, with low single digit percentage Adjusted EBITDA growth and a broadly stable Adjusted EBITDA margin excluding the United Kingdom segment and Allwyn LS Group. In the prior year, the previous operator of the UK National Lottery, Camelot UK, was consolidated from 5 February 2023 and Allwyn LS Group was consolidated from 3 March 2023.

Robert Chvatal, Allwyn CEO, commented: “2024 has started well, with trading broadly in line with our expectations at the start of the year, reflecting good operational and financial performance and our ongoing focus on the delivery of our growth strategies. Solid momentum in GGR growth continued in the first quarter, during which Allwyn successfully started the next 10-year licence period of the UK National Lottery, while we have delivered further progress in Adjusted EBITDA. Allwyn remains well positioned for 2024 and for the next chapters of its growth story.”