FDJ: earnings hit by IPO costs

(CercleFinance.com) - Française des Jeux (FDJ) has reported 2019 earnings that are down 21.
9% at 133 million euros, in particular after taking into account IPO costs. Note that EBITDA rose by 9% to 346 million euros, meaning a stable margin of 17.7%.

The group announced 8.5% growth in revenues, to 1,956 million euros, for bets that are up 9% to 17.2 billion euros (up 8% excluding the impact of the exceptional long Lotto and Euromillions cycles), growth that it said benefited from all activities.

FDJ now targets 5% growth in bets and 5% growth in revenues in 2020, and confirms that it expects an EBITDA margin in excess of 20%, strong cash flow generation and an 80% distribution of consolidated net income.


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