Costs associated with the takeover of Etonic led Lotto Sport Italia to post a net profit of only €0.8 million in 2006, down from €2.9 million in the previous year. Increased operating expenses did not prevent the company from raising its operating income before amortization and depreciation (EBITDA) slightly to €11.5 million from €11.4 million, but operating profit before interest declined to €6.8 million from €7.4 million, and interest charges increased sharply.
As previously reported, the aggregated turnover under the Lotto brand increased by 8 percent to €277 last year, but that was partly due to new licensing deals. Net revenues, excluding those under license, rose to €159.3 million from €144.4 million.
