FDJ: Solid results in the first half of 2024, driven by digital and sports betting
•
7 Aug 2024 •
Reading time: 3 minutes The Française des Jeux (FDJ) has revealed solid results for the first half of 2024, confirming its growth momentum. Driven by the success of its digital activities and sports betting, the company recorded a significant increase in its turnover. The recent acquisitions of PLI and ZEturf also helped to strengthen its market position.
Key figures on the rise
The group’s turnover reached €1,428 million, up 10.8% compared to the first half of 2023. Competing sports betting and online gaming experienced sustained growth, driven by the attractiveness of poker and favorable sports results. This growth is therefore the result of a solid performance of all its activities:
- Lottery: Lottery games generated a turnover of 1,005 million euros, up 5.0%. Instant games, such as Ticket d’Or and Maxi Black Jack, performed particularly well.
- Sports betting and online gaming: This segment grew by 14.5%, to 294 million euros. Sports betting, particularly thanks to the Euro football championship, and poker were the main drivers of this growth.
- Digital: Digital continues to play a key role in FDJ’s strategy. Digital turnover jumped by 39.8% over one year, now representing 14.8% of total turnover. This growth is driven by online lottery, online sports betting and the exclusive online offer.
- Other activities: Other activities, which include international and payments, generated revenues of €129 million, up sharply thanks to the integration of PLI.
Recurring EBITDA reached €370 million, up 23%, reflecting the company’s good financial health. Adjusted net income, which excludes certain non-recurring items, also increased by 28%.
Highlights of the half-year
Stéphane Pallez re-elected as Chairwoman and CEO
The Board of Directors has renewed the mandate of Stéphane Pallez, in her role as Chairwoman and CEO, for a four-year term. Shareholders voted yes by 94.2%, a sign of the confidence placed in her management.
“The second quarter confirmed the good trend of the beginning of the year, with an increase in our activity supported by our network of points of sale and by a very strong dynamic of digital games, which now represent 15% of the Group’s turnover. This solid performance reinforces our annual objectives.”
Stéphane Pallez, Chairman and CEO of the FDJ group
Public purchase offer for Kindred
The public purchase offer for Kindred is progressing, opening up new prospects for development internationally and in the online sports betting market. Today, the authorization decision of the French Competition Authority (ADLC) is the last regulatory condition necessary for the finalization of this offer.
Launch of new product
Nirio Premio, the payment solution of FDJ Services, was launched at the end of April. This offer combines a bank account with a payment card and budget management services.
Since the end of June, Nirio has also made it possible to pay your motorway toll in free flow in the approved bar-tabac-press network. For the moment, only users of the A14 and A79 can benefit from this service.
Societal commitment
FDJ has strengthened its actions in favor of responsible gaming, inclusion and the environment, in particular by supporting projects related to biodiversity.
Prospects for the future
With these solid results, the FDJ group confirms its objectives for 2024, with a growth in turnover of around 8% and a current EBITDA margin of around 24.5%. The acquisition of Kindred, if successful, should accelerate FDJ’s international development and strengthen its position in the online sports betting market.
FDJ is continuing its digital transformation and is asserting itself as a major player in the gaming market in France. The results for the first half of 2024 demonstrate the relevance of its strategy and its ability to adapt to a constantly changing environment.