FDJ sees increase in revenue to €662m for Q1
French gaming operator La Française des Jeux (FDJ) has reported its first quarter results for period ending March 2023. The company announced a 5% growth, including the acquisitions of Aleda and L’Addition over the full year.
Revenue for Q1 reached €662m ($726m), rising from €613m year-over-year. On a pro forma basis, due to acquisitions, FDJ also saw a 7% rise in point-of-sale stakes to €4.8bn and a 21.3% rise in online stakes to nearly $700m.
The report comments that the online stakes were buoyed by both FDJ’s lottery and sports betting offerings. Lottery revenue also increased 6% to €497m, which the company said is due to both instant games and draw games. Loto and Euromillions’ performances have been attributed to stakes related to high jackpots.
FDJ cited the World Cup as a positive influence on its sports betting in 2022, with 2023’s Q1 results experiencing “stability” in revenue, bringing in €129m.
Stéphane Pallez, Chairwoman and CEO of the FDJ Group, said: “The first quarter of 2023 was marked by the continued good financial and extra-financial performance of the FDJ Group. Our revenue is up more than 5%, driven by both our network of 30,000 points of sale and a good dynamic in our digital business.
“We are also very proud to have maintained an excellent sustainability rating by Moody’s ESG Solutions, which places us, for the fifth year in a row, as number one in our industry. Finally, the decision of the French Council of State validates the privatisation procedure and strengthens FDJ’s monopoly, in compliance with European law.”
The company also confirmed its 2023 targets, posting that it aims for revenue growth of between 4-5%, online stakes growth of 20% and recurring EBITDA margin of around 24%.
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