Full strength FDJ outperforms normalised trading results

Groupe FDJ has cited ‘rapid acceleration towards growth’, as its commercial units outride France’s pandemic headwinds and begin to outperform 2019 results.

Publishing its 2021 interim accounts (period ending 30 June), FDJ records combined group stakes (lottery sales and sports betting wagers) of €9.1 billion up 32% on H1 2020’s €6.8 billion – and a significant 8% increase on H1 2019 results of €8.5 billion.

FDJ cites that its recovery has been led by a strong response to the ‘normalisation of French business environments’ from mid-May onwards, allowing France’s national lottery to fully reactivate its point-of-sale network from the beginning of June.

Strong trading saw FDJ’s flagship lottery division generate H1 sales of 6.8 billion, outperforming it’s 2019 ‘normal calendar performance’ of €6.6 billion.

June’s network reopening coincided with the UEFA Euro 2020 championships, which bolstered FDJ sports wagers (retail and online) to €2.2 billion (H1 2020: €1.1 bn & H1 2019: €1.8bn).

“Despite the absence of the France team from the final, the tournament generated 260 million euros in bets for FDJ, with average stakes per game of 5 million euros, comparable to those recorded during the 2018 World Cup, but a 20% lower number of matches between UEFA Euro 2020 and the previous World Cup.” FDJ commented on Euro 2020 trading.

Further metrics saw FDJ increase its group H1 turnover to €1.1 billion, up 9% on H1 2019 of €995 million. FDJ’s turnover results saw the company payout €6.9 billion in player earnings () and further contribute €1.8 billion in public levies.

Returning all units to business, FDJ recorded group period expenditure of €590 million (H1 2020: €480m), of which €200 million was attributed to marketing of its network reopening and Euro 2020 campaigns.  

The interim period’s final results would see FDJ declare an operating income of €195 million (H1 2019: €165m) combined with net profits of €146 million (H1 2020: €50 m / 2019: unreported).

Confident of its full business recovery, but ‘maintaining pandemic observations’, FDJ governance upholds its 2021 financial forecast of “generating a group stakes of €18 billion, turnover of + €2.2 billion with an EBITDA margin rate greater than or equal to 22%”

Stéphane Pallez, CEO of FDJ Group, declared: “The second quarter confirmed a recovery of our activities to levels higher than those recorded before the crisis. 

“Our bets are increasing, both on digital and in our network of points of sale. Over the half-year as a whole, we thus recorded a turnover up by almost 9% compared to 2019. 

“In the absence of new restrictive measures linked to the evolution of the health situation, the Group anticipates maintaining good momentum in the second half of the year and is confident in its business and results outlook while respecting its responsible gaming model. “