MILAN (Thomson Financial) - Lottomatica SpA said first quarter EBITDA fell
to 205 million euro from 212 million a year earlier as currency effects offset a
strong rise in Italy sales, coming in below expectations.
Net profit was 43 million euro, against 35 million in the first quarter
2007, EBIT down at 135 million from 140 million, and sales 449 million, against
435 million, the company said in a statement.
"The good performance of the group is attributable to the core lottery
business and the growth in new markets," said CFO Stefano Bortoli.
"In the United States, the results of (unit) GTECH have been influenced by
the euro/dollar exchange rate, though the activities continue to register a very
positive trend," he said in a statement.
"We are in line to reach the targets set in the 2008 to 2010 strategic
plan," he said.
On a constant currency basis, net profit was 42 million euro, EBIT 138
million, EBITDA 216 million and sales 472 million, the company said.
Analysts were expecting a net of 50 million to 52 million euro, EBIT of 141
million to 146 million, EBITDA of 206 million to 220 million, and sales of 460
million to 507 million.
nigel.tutt@thomsonreuters.com
nt/lam
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