FDJ Hits the Jackpot with Spectacular Q3 Growth!
Published on: October 17, 2024
Well, well, well! It looks like La Française des Jeux (FDJ) is strutting its stuff straight onto the gaming stage with a performance that has investors grinning like lottery winners. After a rather splendid third quarter, FDJ is raising its glass (and perhaps a few bets) to forecast a whopping 9% growth in turnover for 2024. Cheerio to the folks who predicted otherwise!
Riding the Revenue Rollercoaster!
In a twist that would make M. Night Shyamalan proud, FDJ has shifted its growth expectations and now predicts an EBITDA margin of around 25%. That’s up from the previous July expectations of 24.5%. It’s as if they found the £1 scratch card no one knew was hiding in the sofa cushions! ☑️
So, what’s the secret sauce behind this financial delight? Well, it seems the integration of Kindred, a savvy move made by FDJ that took effect on October 11, is set to crank those numbers up to an exciting 16% projected turnover growth! That’s right, the Swedish online betting wizardry of Kindred is now under FDJ’s banner, transforming them into the all-you-can-win buffet of the betting world.
Numbers You Can Bet On!
Now let’s talk turkey—specifically €669 million worth of it. That’s the turnover the FDJ racked up from July to September, boasting an impressive 14.2% rise compared to Q3 of 2023. Now I don’t know about you, but if my bank account was growing at that rate, I’d be wearing my best suit to the next family gathering! 🎩💰
The company has ridden the wave of luck with an increase in Euromillion draws and, oh, you guessed it, the boost from sports betting linked to the Paris Olympic Games. Because nothing screams “place your bets” quite like athletes flying through the air and running faster than my hopes of being rich.
Watch Out—FDJ is Coming Through!
With FDJ integrating Kindred into the fold, it’s clear they’re setting their sights on world domination—or at least a significant share of the online betting market. One can only hope that ambitions don’t cloud the judgment as they juggle more balls than a circus clown trying to impress a particularly picky audience.
So, if you fancy a flutter or just enjoy the rollercoaster ride of gaming profits, keep your eye on this French treasure. Because with FDJ, the chips are stacked in their favor! 🃏✨
PARIS (Agefi-Dow Jones)–Gaming operator La Française des Jeux (FDJ) has raised its outlook for 2024, after recording dynamic revenue growth in the third quarter.
This year, the company led by Stéphane Pallez now forecasts growth in its turnover close to 9% and a current gross operating surplus (Ebitda) margin of around 25%.
Last July, FDJ said it anticipated an increase of around 8% in its turnover and a current Ebitda margin of around 24.5%.
“By integrating Kindred from October 11 and based on the activities retained by FDJ, the growth in published 2024 turnover would be of the order of 16%, with a current Ebitda margin of the order of 25 %,” the group said in a press release. FDJ recently announced the success of its takeover bid (OPA) for the Swedish Kindred, owner of the online betting site Unibet.
For the period from July to September, FDJ achieved a turnover of 669 million euros, an increase of 14.2% in published data compared to the third quarter of 2023. On a comparable basis, revenues increased by 8 %.
The company notably benefited from more numerous Euromillion draws than in the third quarter of 2023 and from sports betting linked to the Paris Olympic Games.
-Vincent Alsuar, Agefi-Dow Jones; +33 (0)1 41 27 47 39; [email protected] ed: JEB
FINANCIAL RELEASES FROM THE FDJ:
https://www.groupefdj.com/presse/?type=communique
Agefi-Dow Jones The financial newswire
Dow Jones Newswires
October 17, 2024 12:39 ET (16:39 GMT)
