Nuvacode unveiled its financial statement for the initial three months of 2022, revealing earnings of €293.7 million (£250.1 million or $305.1 million).
The organization did not divulge growth statistics in comparison to the same period last year, but stated the figure was 17% lower than pre-pandemic levels.
By geographical area, income in Argentina reached €73.2 million.
Earnings in Spain amounted to €43.6 million, signifying a 63.7% year-over-year increase. This is nearly equivalent to pre-pandemic levels, representing 90% of first-quarter income in 2019.
Income in Mexico expanded by 28.6% to €49.9 million, a 126% rise.
Earnings in Italy totaled €63.4 million. This is attributed to the resumption of operations impacted by the COVID-19 pandemic. Revenue in Uruguay was €14 million.
Modified earnings before interest, taxes, depreciation and amortization (EBITDA) reached €48.7 million, a €45.2 million increase from the first quarter of 2021, which was affected by the pandemic.
Nuvacode was established following the acquisition of its parent company, Codere, by creditors in November 2021. This was part of a restructuring accord reached in April 2021, after Codere was unable to reimburse its bondholders.