Codere Online sees FY25 net gaming revenue EUR 220M – EUR 230M

Adj. EBITDA outlook of EUR 10M- EUR 15M. Oscar Iglesias, CFO of Codere Online (CDRO), commented, “Our strong fourth-quarter performance brought our full-year net gaming revenue to nearly EUR 212 million, 10% above the midpoint of our initial EUR 185-200 million outlook from early 2024. More importantly, we delivered a fourth consecutive quarter of positive Adjusted EBITDA, allowing us to reach EUR 6.4 million for the full year, at the higher end of our outlook of EUR 2.5-7.5 million. We are very encouraged by our 2024 results and our ability to meet our commitment to investors despite the headwinds faced, mostly on the currency front. For 2025, we anticipate net gaming revenue of EUR 220-230 million and Adj. EBITDA of EUR 10-15 million. Also, we are pleased to announce an up to $5.0 million share buyback plan, subject to shareholder approval, which reflects our confidence in the business and future cash flow generation.”