Wednesday, September 28, 2022

Jumbo Interactive expecting 27 revenue increase for FY22

Australia’s Jumbo Interactive says it expects to report a 27% revenue increase to AU$103.8m (US$70.9m) for FY22.

The lottery business will release its FY22 preliminary results to the market on 26 August 2022, noting that the figures “reflect strong double-digit growth across all key performance metrics.” The company also expects underlying EBITDA to increase by 14% to AU$54m, and underlying NPAT to increase by 16% to AU$31.6m.

“We are very pleased with the strong growth that we have achieved in FY22 off the back of an improved jackpot cycle,” said Jumbo Interactive CEO and Founder Mike Veverka. “FY22 has been a pivotal year for Jumbo as we build the foundations to successfully execute our global growth strategy.

“Lottery Retailing is exceptionally well positioned to benefit from the ongoing shift to digital and the new OzLotto game launched in May 2022, while the integration of Stride and StarVale will help us build scale in our Managed Services and SaaS segments globally.”

The group also provided an outlook for FY23, noting that the underlying EBITDA margin is anticipated to be within a range of 48-50%, compared to 52% in FY22, while underlying operating cost growth excluding Lottery Retailing marketing costs is anticipated to moderate, with Jumbo targeting an increase of 20-22%.

The company added: “Jackpots remain a significant driver of Lottery Retailing ticket sales (and revenue) and in any given year there is uncertainty as to the exact number and aggregate value of large jackpots.”

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