Core Insights - Codere Online reported a solid financial performance for Q4 2024, with net gaming revenue reaching €52.6 million, a 5% increase compared to Q4 2023 [2][4] - The company achieved a full-year net gaming revenue of nearly €212 million, exceeding its initial outlook of €185-200 million [4][10] - For 2025, Codere Online anticipates net gaming revenue of €220-230 million and Adjusted EBITDA of €10-15 million [4][10] Financial Performance - Q4 2024 net gaming revenue by region: - Spain: €22.8 million, up 10% from Q4 2023 - Mexico: €25.1 million, flat compared to Q4 2023 - Other regions: €4.6 million, up 10% from Q4 2023 - Total: €52.6 million, up 5% from Q4 2023 [2][4] - Full-year 2024 net gaming revenue by region: - Spain: €87.7 million, up 16% from 2023 - Mexico: €106.6 million, up 30% from 2023 - Other regions: €17.3 million, up 19% from 2023 - Total: €211.6 million, up 23% from 2023 [2][4] Operational Metrics - Average Monthly Active Players (000s) for Q4 2024: - Spain: 48.7, up 3% from Q4 2023 - Mexico: 68.9, up 17% from Q4 2023 - Other regions: 29.8, down 9% from Q4 2023 - Total: 147.5, up 6% from Q4 2023 [2][4] - Full-year 2024 average monthly active players: - Spain: 49.7, up 17% from 2023 - Mexico: 64.4, up 23% from 2023 - Other regions: 30.8, down 8% from 2023 - Total: 144.9, up 13% from 2023 [2][4] Future Outlook - The company plans to implement a share buyback program of up to $5.0 million, subject to shareholder approval, reflecting confidence in future cash flow generation [4][10] - Codere Online is assessing the impact of a new 19% value-added tax on online deposits in Colombia, effective February 21, 2025 [10]
Codere Online Reports Financial Results for the Fourth Quarter and Full Year 2024