Allwyn International reports revenue of €2,143 million in Q3
Lottery operator Allwyn International reported a total revenue of €2,143 million in Q3 2024, marking a year-on-year increase of 7 percent compared to €2,007.3 million for the same quarter last year. This increase was driven by organic growth in Greece, Cyprus, and Austria.
Performance across key markets
The from gaming activities grew by 7 percent to €2,056.6 million, as compared to previous year. Net revenue surged to €981.8 million by 11 percent, while adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) climbed to €410.8 million by 12 percent. Excluding contributions from UK and North American operations, adjusted EBITDA soared by 21 percent.
Allwyn Q3 key revenue figures.
Benefiting from favourable jackpot cycles and organic growth through the OPAP lottery, Greece and Cyprus led the charge. With numerical lotteries and strong growth in digital gross gaming revenue (GGR), Austria also played a pivotal role in driving results.
Allwyn reported an increase in online gaming revenue of its digital channels, with Greece and Austria seeing a rise of 46 percent and 21 percent, respectively.
Allwyn Q3 GGR by region.
Adjusted free cash flow saw an increase of one percent to €339 million, while capital expenditures jumped to €71.8 million.
Allwyn acquired Instant Win Gaming (IWG) during Q3, a supplier of online instant games for lotteries to expand its presence in North America. In February 2024, the company commenced its operation of UK National Lottery after acquiring Camelot UK.
CEO’s comment
Robert Chvatal, Allwyn CEO said, “I am pleased to report another quarter of good progress and financial performance, in which we delivered strong top line growth – with standout performance in Greece and Cyprus – and once again achieved solid profitability and cash flow generation.
“The quarter also benefited from favourable jackpot cycles in lottery, this contrasted with the third quarter last year,” Chvatal added.
“Total revenue increased 7 percent YoY, with the continuing growth of the digital channel, our ongoing efforts in product development, and our focus on bringing best-in-class content to customers being the key drivers,” he added.
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