Overview
Codere Online Q2 revenue misses analyst expectations, net gaming revenue up 1%
Net loss of EUR2.4 mln in Q2, impacted by unfavorable exchange rates
Co repurchased $0.7 mln of shares under $5 mln buyback plan
Outlook
Codere Online reiterates 2025 net gaming revenue outlook of EUR220-230 mln
Company expects 2025 adjusted EBITDA of EUR10-15 mln
Codere Online sees strong trends in Mexico despite currency devaluation
Company anticipates meeting revenue targets despite ongoing challenges
Result Drivers
MEXICO PERFORMANCE - Net gaming revenue in Mexico grew by 23% in local currency despite a 19% devaluation of the peso
ACTIVE CUSTOMERS - Mexico saw a 36% increase in active customers compared to Q2 2024
EXCHANGE RATE IMPACT - Net loss widened due to unfavorable exchange rates, contrasting with a gain in H1 2024
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Miss | EUR 51.40 mln | EUR 54.20 mln (4 Analysts) |
Q2 Net Income | Miss | -EUR 2.40 mln | -EUR 25,000 (2 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the casinos & gaming peer group is "buy"
Wall Street's median 12-month price target for Codere Online Luxembourg SA is $10.00, about 15.7% above its July 30 closing price of $8.43
The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 24 three months ago
Press Release: ID:nGNE1SjyKh
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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