{"id":11515,"date":"2025-11-19T11:53:46","date_gmt":"2025-11-19T11:53:46","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=11515"},"modified":"2025-11-19T11:53:50","modified_gmt":"2025-11-19T11:53:50","slug":"codere-online-shows-stable-q3-results-and-expands-share-buyback-program","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2025\/11\/19\/codere-online-shows-stable-q3-results-and-expands-share-buyback-program\/","title":{"rendered":"Codere Online Shows Stable Q3 Results and Expands Share Buyback Program"},"content":{"rendered":"\n<p><strong>Codere Online <\/strong>confirms its confidence in achieving its financial targets for 2025 and once again emphasizes its resilience as a global company listed on <strong>Nasdaq<\/strong>.<\/p>\n\n\n\n<p>The outlook was maintained despite third-quarter trading showing stagnant revenue of \u20ac52 million ($60.3 million), a result attributed to the significant weakening of the Mexican peso, which reduced revenues when converted into euros.<\/p>\n\n\n\n<p>For the third quarter, Codere Online reported total net gaming revenue (NGR) of \u20ac163.4 million ($189.4 million), up 3% year-on-year, along with a reduced net loss of \u20ac1.7 million ($1.97 million) compared to \u20ac3.0 million ($3.48 million) in the same period of 2024. A disciplined approach to operational efficiency and controlled investments continues to guide the company toward sustainable profitability.<\/p>\n\n\n\n<p>Although Codere Online did not disclose a specific Q3 EBITDA figure, management reaffirmed the full-year adjusted EBITDA range of \u20ac10\u201315 million ($11.6\u201317.4 million), indicating a more margin-friendly performance in the second half of the year.<\/p>\n\n\n\n<p>In its key markets, Spain remained a steady contributor, delivering 5% NGR growth year-on-year to \u20ac22 million ($25.5 million), confirming Codere Online\u2019s strong position in one of Europe\u2019s most regulated jurisdictions. Mexico continued to be the main growth driver, with active players up 39% year-on-year. Despite a 5% devaluation of the peso, high engagement levels offset the currency impact on euro-denominated revenues.<\/p>\n\n\n\n<p>Management remains confident in achieving the group\u2019s 2025 target of \u20ac220\u2013230 million ($255\u2013266.6 million) in net gaming revenue, supported by a cash balance of \u20ac48.3 million ($56 million) as of September 30, 2025. The company reiterated its focus on disciplined growth and profitability to deliver consistent financial results in line with long-term shareholder objectives.<\/p>\n\n\n\n<p>Reflecting that confidence, Codere Online expanded its share buyback program from $5 million to $7.5 million, with $1.7 million already repurchased by mid-November. The company plans to seek shareholder approval at its December extraordinary general meeting to extend the program through December 31, 2026.<\/p>\n\n\n\n<p>Corporate governance also evolved during the quarter, with <strong>Marcus Arildsson<\/strong> appointed as Chief Financial Officer effective November 13. A seasoned finance professional with over 25 years of experience in investment banking and corporate finance, Arildsson succeeds <strong>Oscar Iglesias<\/strong>, who, subject to shareholder approval, will take a seat on Codere Online\u2019s board.<\/p>\n\n\n\n<p>CEO <strong>Aviv Sher <\/strong>said: \u201cOur net gaming revenue remained strong even with a 5% drop in the Mexican peso and low margins on wagering in September. We are in a good position moving into the year ahead with a 39% increase in our active customers in Mexico. We remain confident in meeting our full-year financial goals.\u201d<\/p>\n\n\n\n<p>Don\u2019t forget to subscribe to our <a href=\"https:\/\/t.me\/sbceurasia\">Telegram channel!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Codere Online confirms its confidence in achieving its financial targets for 2025 and once again emphasizes its resilience as a global company listed on Nasdaq. The outlook was maintained despite third-quarter trading showing stagnant revenue of \u20ac52 million ($60.3 million), a result attributed to the significant weakening of the Mexican peso, which reduced revenues when [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":11516,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,1],"tags":[9242,90,2994,2818,2365,1149,1515,4499,2910,10349],"class_list":["post-11515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gambling","category-news","tag-codere-online","tag-europe","tag-financial-results","tag-gaming-industry","tag-investments","tag-mexico","tag-nasdaq","tag-profitability","tag-revenue","tag-third-quarter"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Codere Online Shows Stable Q3 Results and Expands Share Buyback Program - 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