Renowned French gaming company La Française des Jeux (FDJ) recently unveiled its preliminary earnings report for both the fourth quarter and the entire fiscal year of 2023. The fourth quarter showed a remarkable revenue surge of 13.8%, reaching €747 million. This significant growth is attributed to a noticeable rise in sports betting, online gaming activities, and lottery sales.
In detail, FDJ’s lottery segment amassed €531 million in Q4, marking a 7.8% increase. Meanwhile, sports betting and online gaming sectors contributed an impressive €158 million, showcasing a robust 14.9% growth in these areas.
This financial update closely follows FDJ’s announcement from the previous day about their bid to acquire the Kindred Group for €2.6 billion. Under this proposal, Kindred will have from mid-February to mid-November 2024 to respond. The offer places Kindred’s stock at a 24% premium, valued at SEK 130 ($12.43) per share, based on the closing price on 19 January 2024.
Simultaneously, Kindred Group also disclosed its Q4 performance, reporting total revenues of £312.9 million ($397.7 million). A standout figure from Kindred’s report is the substantial 45.3% increase in their underlying EBITDA compared to Q4 2022, with the full year’s EBITDA reaching £204.5 million, a 58.3% hike from the previous year.
Additionally, Kindred’s report included a statement from its Board, emphasizing the commitment to protect its workforce and management team, recognizing their crucial role in the company’s operations.
Over the entire year, FDJ’s revenue climbed by 6.5% to €2.62 billion. A key driver of this growth was the company’s flourishing online business, which saw an 18.8% increase, contributing 13% to FDJ’s annual revenue.
The company’s recurring EBITDA stood at €675 million, yielding an EBITDA margin of 25.1%. A comprehensive breakdown of FDJ’s 2023 financial results will be available after the completion of the audit, scheduled to be published on Thursday, 15 February.
