he Rome-based giant reported that its net income for the three-month period ending on March 31 grew by 69 % over the same period in 2008 to reach 71.9 million euros after minorities. In addition, earnings rose 17 % over the same period last year to 239.6 million euros while revenues increased over 20 % to 582.2 million euros.
“Overall, Gruppo Lottomatica had an excellent quarter, demonstrating the company's resiliency during extremely difficult economic conditions,” said Lorenzo Pellicioli, Chairman for Lottomatica.
“Driving these positive results were key investments and acquisitions made as part of a strategy to broaden our product portfolio and the geographies we serve. Gruppo Lottomatica has the capability, flexibility and insight necessary to prioritise opportunities throughout the world and deploy capital to ensure the highest return on our investments. We are encouraged that the actions we have taken and investments we have made are producing the results we had anticipated.”
Lottomatica revealed that its operating income for the quarter stood at 155.2 million euros, a 13 % increase over 2008’s 134.5 million euros, but its earnings percentage dropped 4.5 percent to 41.1 %.
“I am pleased to report that we experienced solid progress in all of our businesses,” said Stefano Bortoli, CFO for Lottomatica. “As a result, we are on track in terms of achieving our long-term goals for growth and have confidence in our outlook for the full year.”