EarningsQ2 2026 Earnings Report
DE:GF8A Q2 2026 EPS Results
Actual EPS€0.03
Consensus EPS―
Beat/Miss―
One Year Ago EPS€0.16
DE:GF8A Q2 2026 Revenue Results
Actual Revenue€1.08B
Expected Revenue―
Beat/Miss―
YoY Revenue Growth+248.36%
Earnings Announcement Details
QuarterQ2 2026
Date08/27/2026
TimeBefore Open
Conference CallThursday, August 27, 2026
DE:GF8A Upcoming Earnings
Greek Organization of Football Prognostics SA's next earnings date is estimated for November 24, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:GF8A Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive overall. Management reported 27% net revenue growth, 29% adjusted EBITDA growth, 43% adjusted EBITDA minus CapEx growth, continued Betano and digital momentum, strong PrizePicks engagement, lower CapEx, shareholder distributions, and reaffirmed 2026 guidance. The main challenges were weaker U.K. GGR and expected U.K. revenue below the initial range, lower North America EBITDA due to World Cup marketing and variable costs, elevated EBITDA adjustments, leverage at the high end of its historic range, and regulatory and competitive uncertainty in the U.S.Company Guidance
Strong Group Revenue and EBITDA Growth
Q2 net revenue increased 27% year-on-year, adjusted EBITDA increased 29%, and adjusted EBITDA minus CapEx grew 43%, reflecting continued momentum in Continental Europe, the consolidation of PrizePicks, and higher contribution and cash flow from the U.K. following the completion of retail and digital transitions.
Strong Organic EBITDA Performance
Excluding PrizePicks and the Austria tax impact, net revenue growth was 5% year-on-year. Adjusted EBITDA increased 9% year-on-year on a like-for-like basis, despite a demanding comparative period and headwinds of EUR 13 million from Austria and EUR 9 million from Italy.
Shareholder Distributions and Share Buyback
The board confirmed a EUR 0.20 per share interim distribution, taking dividends paid during the year to EUR 1 per share. Allwyn had completed approximately 60% of its EUR 150 million share buyback program, with EUR 89 million completed by the end of the prior week.
Continental Europe Digital Growth and Brand Expansion
Digital growth across Continental Europe increased 21% year-on-year. Allwyn launched its consumer-facing brand in Austria and continued rebranding in the Czech Republic and Greece; brand awareness climbed over 70% in eight months.
Expansion Through Next Lotto and Illinois Extension
Allwyn agreed to increase its stake in Next Lotto to a controlling position. In Illinois, legislation was enacted enabling a three-year extension of the private management agreement, and discussions on commercial terms for the next three years were initiated.
Lottery Product Innovation and License Wins
Allwyn introduced enhanced Lotto formats in Austria and the U.K., launched new Lotto in the U.K. with two draws and two chances to win, introduced Eurojackpot online in Greece, launched the 20 Mega daily lottery in the Czech Republic, and brought Powerball to the U.K. as its first market outside the U.S. Allwyn also secured an exclusive scratch card license in Greece for the next 12 years.
PrizePicks Engagement and Player Growth
PrizePicks remained the clear leader in daily fantasy sport in the U.S. Combined DFS entry fees and prediction market volumes increased 35% year-on-year, average DFS entry fees per player showed strong double-digit growth, and the active player base increased approximately 18% year-on-year despite the seasonally quiet summer period.
PrizePicks Marketing Generated Strong Acquisition and Engagement
PrizePicks increased marketing spend around the U.S. World Cup to acquire and engage customers. Results included 26 million associated lineups in June and July, record player acquisition, elevated retention, increased engagement, and a significantly larger active player base entering the NFL season.
Prediction Market Product Development
PrizePicks expanded into Team Picks and Culture Picks, introduced blended lineups in May 2026, and planned to launch fully blended lineups before the NFL season. The fully blended product is intended to let customers combine Player Picks, Team Picks, and Culture Picks within a single lineup.
Responsible Gaming and Strategic Execution
Management reaffirmed its commitment to responsible gaming and CSR, stating that being at the forefront of a safe place to play is key to the long-term strength of the business. Management also said the group continued executing its strategic priorities, including new products, the One Brand initiative, and its own technology stack.
Board Governance Enhancement
Petra Ehrmann was nominated for election as an independent director. If appointed, independent representation would reach 50%, consistent with the commitment made during the business combination with OPAP.
Adjusted EBITDA Margin and Product Growth
Adjusted EBITDA was 37% of net revenue, slightly higher year-on-year despite a lower share of profit from equity-method investees. Sports betting MGR increased 12% and iGaming MGR increased 24%.
Continental Europe Revenue Momentum
Continental Europe net revenue increased 4% year-on-year, or 6% excluding the Austria tax impact, following underlying growth of 7% in Q1 on the same basis. Performance was led by iGaming, sports betting, and continued digital lottery growth.
North America Revenue Growth Excluding PrizePicks
North America delivered 6% constant-currency net revenue growth on a pro forma basis. The remainder of the North America business, excluding PrizePicks, delivered 21% constant-currency revenue growth.
U.K. Profitability and Cash Flow Improvement
U.K. net revenue increased 3% year-on-year in constant currency. EBITDA increased by EUR 18 million year-on-year to EUR 23 million as cost recovery began under the National Lottery economic model, while CapEx fell to a more normalized level and EBITDA adjustments fell away entirely.
Betano Continued Strong Growth
Betano total revenue increased 26% year-on-year on both a constant-currency and reported basis, following 27% growth in the prior quarter. EBITDA increased 24% year-on-year, and dividends for the first half of the year increased almost 60% year-on-year.
Lower Capital Expenditure
Total CapEx decreased 39% year-on-year to EUR 38 million, equivalent to 3% of net revenue in the quarter, as the elevated U.K. technology investment was completed.
Diversified Business Model
Management emphasized that Allwyn is diversified across geographies, products, channels, licenses, and fiscal and regulatory regimes. This diversification was stated to help smooth volatility between quarters and provide strategic optionality.
Conservative Leverage and Capital Allocation Framework
Management reaffirmed its commitment to disciplined balance-sheet management, value-accretive investment, capital returns, and a conservative, efficient balance sheet. The company stated that it had maintained low leverage while making significant growth investments and shareholder distributions.
2026 Guidance Reaffirmed
Allwyn reaffirmed its 2026 group outlook, including consolidated net revenue growth in the mid to high twenties before one-off impacts and an adjusted EBITDA margin of 37% of net revenue.
Long-Term Growth Track Record
Since 2019, Allwyn has delivered a compound annual growth rate of around 20% in net revenue, adjusted EBITDA, and adjusted EBITDA minus CapEx, more than tripling the size of the business across those metrics without raising equity while making large shareholder distributions and maintaining conservative leverage.
Additional Cash Flow Inflows
Q2 cash flow benefited from higher dividends from equity-method investees, primarily Lottoitalia, lower CapEx, and the receipt of EUR 70 million from Novibet as repayment of a loan made ahead of the expected closing of that transaction.
DE:GF8A Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed