Strong Revenue and Margin
Net revenues of EUR 513 million (down 1.5% year‑on‑year, practically flat quarter‑on‑quarter) and EBITDA of EUR 335.3 million with a high EBITDA margin of 65.4%.
Robust Cash Generation and Balance Sheet
Operating cash flow after investments of EUR 311 million for the quarter, last‑12‑month cash conversion ~81%, total cash including bond portfolio of EUR 1.2 billion and total equity of EUR 4.3 billion.
RNG (Slots) Momentum
RNG advanced with year‑on‑year growth of 8.1%, with traction from RNG brands (Nolimit City, NetEnt) cited as improving performance relative to prior quarters.
North America Growth and Milestones
North America reported an all‑time high revenue for the quarter; year‑on‑year growth roughly 21% in USD (higher than ~19% in Q4). Launched Monopoly Live in Connecticut and completed construction of second Michigan studio (Grand Rapids) pending approvals.
Latin America Strong Momentum and Market Expansion
LatAm reported an all‑time high revenue and strong momentum; completed acquisition of a live studio in Argentina (studio asset) to support local expansion; localized game launches (e.g., Crazy Time in Brazil) to leverage market growth.
Studio Network Expansion
Continued expansion with new studios added in Latvia (second Riga studio), U.S. (Michigan), and Argentina; Riga studio to host Always 6 Blackjack and later Game Night and Monopoly Filthy Rich.
Active Product Roadmap and New Releases
Initial 2026 releases include Always 6 Blackjack and Dragon Dragon; upcoming Monopoly titles (Monopoly Roulette, Monopoly Roll 'Em) and new feature SciPlay (integrated slots within live interface) to boost engagement and One‑Stop‑Shop value.
Controlled Investment and CapEx Discipline
CapEx of EUR 34.6 million for the quarter, stable as a share of net revenues; personnel and operating expense growth noted but rolling‑12‑month personnel growth is decelerating.