Codere Online Luxembourg SA
F:J9T

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Codere Online Luxembourg SA Logo
Codere Online Luxembourg SA
F:J9T
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Price: 6.35 EUR -2.31% Market Closed
Market Cap: 287.6m EUR

Codere Online Luxembourg SA
Investor Relations

Codere Online Luxembourg SA provides online sports betting and online casino services. The firm offers Online Sports Betting and Online Casino through its state-of-the art website and Mobile Application. The company operates in markets of Spain, Italy, Mexico, Colombia, Panama and the City of Buenos Aires (Argentina). The firm offers online Channels include Omnichannel and Pure Online. Its products include Sports Betting and Casino. The firm is also the official betting partner of Real Madrid in Latin America, River Plate in Argentina and Monterrey Rayados in Mexico.

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Last Earnings Call
Fiscal Period
Q2 2025
Call Date
Jul 31, 2025
AI Summary
Q2 2025

Net Gaming Revenue: Codere Online reported EUR 55 million in net gaming revenue for Q2 2025, essentially flat year-over-year due to Mexican peso devaluation, but up 12% in constant currency.

Mexico Growth: Strong performance in Mexico with net gaming revenue up 3% to EUR 29 million and active customers up 36%, though average spend per customer fell due to currency effects.

Profitability: Adjusted EBITDA was positive at EUR 2.3 million, EUR 1 million higher than last year, with management expecting improved profitability in the second half as marketing spend moderates.

Guidance Maintained: Management reaffirmed full-year 2025 guidance for net gaming revenue of EUR 220–230 million and adjusted EBITDA of EUR 10–15 million.

Colombia Headwinds: Colombia saw a significant revenue decline (down about 40%) from a new VAT on player deposits, but the impact was partially offset by growth in Panama.

Share Buyback: The company repurchased 106,000 shares for approximately EUR 700,000 as part of its buyback program.

NASDAQ Compliance: Codere Online has regained full compliance with NASDAQ listing requirements.

Key Financials
Net Gaming Revenue
EUR 55 million
Net Gaming Revenue (Mexico)
EUR 29 million
Net Gaming Revenue (Spain)
EUR 22 million
Adjusted EBITDA
EUR 2.3 million
Adjusted EBITDA (Spain)
EUR 6.3 million
Total Cash
EUR 45 million
Available Cash
EUR 41 million
Net Working Capital
negative EUR 24 million
Cash Flow Generation (H1 2025)
over EUR 5 million
First-Time Depositors (FTDs)
78,000
Average CPA (Cost Per Acquisition)
EUR 218
Shares Repurchased
106,000
Share Buyback Investment
EUR 700,000
Earnings Call Recording
Other Earnings Calls

Management

Mr. Aviv Sher
Chief Executive Officer
No Bio Available
Mr. Moshe Edree
Executive Vice Chairman of the Board
No Bio Available
Mr. Oscar Iglesias
Chief Financial Officer
No Bio Available
Ms. Deborah Guivisdalsky
Chief Operating Officer
No Bio Available
Mr. Gonzalo de Osma
Chief Accounting Officer
No Bio Available
Mr. Guillermo Lancha
Director of Investor Relations
No Bio Available
Ms. Yaiza Rodriguez
General Counsel & Secretary of the Board
No Bio Available
Mr. Alberto Telias
Chief Marketing Officer
No Bio Available
Mr. Matan Shemesh
Chief of Growth & Strategy
No Bio Available

Contacts

Address
MEXICO, D.F.
Luxembourg
7, rue Robert Stumper
Contacts
+525543401269
codereonline.com