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La Française des Jeux (FDJ) announces its results for the first half of 2020
The good momentum in stakes seen in the early part of the year (increase of 5% until mid-March) was halted by the consequences of the Covid-19 epidemic (decline of nearly 60% over the two months of lockdown). The gradual recovery since the lifting of lockdown in mid-May has accelerated with the gradual resumption of sporting competitions, including most of the national football championships in Europe, and the return of Amigo on 8 June. As such, the decline in stakes was limited to 18% over the half-year compared with the first half of 2019. They totalled €6.9 billion, breaking down as:
- Lottery stakes down 13% at €5.8 billion:
- Of which -15% for draw games to €2.2 billion and -11% for instant games to €3.6 billion;
- A 50% increase in online stakes to €0.5 billion.
- Sports betting stakes down 39% at €1.1 billion.
- Half-year revenue totalled €849 million, down 15% on an adjusted basis,1 and EBITDA amounted to €174 million, a margin of 20.5%.
- For EBITDA, the mechanical impact of the decline in activity was partially offset by the implementation of a large part of the savings plan of more than €80 million for 2020.
- From mid-June the Group has returned to an overall level of activity comparable with that of 2019. However, in view of the many uncertainties that remain, the Group does not communicate any business or earnings forecasts for the financial year 2020 as a whole. However, it should be borne in mind that the EBITDA margin for the second half of 2019 benefited from exceptional long lottery cycles, as well as unexpected sporting results, which reduced the player payout ratio in the sports betting segment.
Stéphane Pallez, Chairwoman and Chief Executive Officer of FDJ, said: “The Group’s strong mobilisation from the onset of the health crisis and a swiftly implemented cost-cutting plan have limited the impact on the first-half results. For several weeks, we have been recording stakes at a level comparable with that of 2019. Our strategic orientations and the strength of the FDJ model have been confirmed, and we continue to invest to support the development of all our activities.”
The 2019 data used for the following analyses have been adjusted to reflect the new tax regime that came into force on 1st January 2020 and to consolidate Sporting Group over a full year (but without adjustment for long lottery cycles)
Key figures (in millions of euros)
30 June |
30 June 2019 adjusted |
Chg. vs |
30 June 2019 |
Chg. vs |
|
Stakes |
6,898 |
8,454 |
(18%) |
8,420 |
(18%) |
Revenue* |
849 |
995 |
(15%) |
944 |
(10%) |
Recurring operating profit |
124 |
165 |
(25%) |
136 |
(9%) |
Net profit |
50 |
|
|
96 |
(48%) |
|
|
|
|
|
|
EBITDA** |
174 |
208 |
(16%) |
177 |
(2%) |
EBITDA/revenue |
20.5% |
20.9% |
|
18.8% |
|
* Revenue: net gaming revenue and revenue from other activities
** EBITDA: recurring operating profit adjusted for depreciation and amortisation
Activity and results for H1 2020
- Stakes of €6.9 billion, down 18.4%
- Lottery stakes of €5.8 billion (-12.6%)
Lottery staked amounted to €5.8 billion, with a drop of 11.3% to €3.6 billion for instant games and a drop of 14.6% to €2.2 billion for draw games:
- For instant games, the decline can be attributed in large part to the steep decline in footfall in points of sale during lockdown and the lack of activity in the product portfolio during the second quarter;
- For draw games, the decrease can be ascribed chiefly to the suspension of Amigo, an express draw game in points of sales from 19 March to 8 June. Adjusted for Amigo, draw games stakes were down only slightly (-1.7%);
- Online lottery stakes enjoyed good momentum, with an increase of 50% to €0.5 billion, and a marked acceleration in the second quarter, driven mainly by growth in the number of active players and the almost doubling of new registrations on fdj.fr.
- Sports betting stakes of €1.1 billion (-38.8%)
Sports betting stakes totalled €1.1 billion. After a performance in line with objectives at the start of the year, sports betting stakes were impacted by the gradual cancellation of virtually all sporting competitions from mid-March 2020. No major sporting competitions took place during lockdown, which considerably reduced the betting offer. Since mid-May, sporting competitions, particularly football, have gradually resumed, resulting in a very significant resumption in stakes.
- Revenue down 14.7% at €849 million
On half-yearly stakes of €6.9 billion (-18.4%), player winnings totalled €4.6 billion (-19.9%), representing a player payout (PPO) ratio of 67.3%, compared with 68.4% in the first half of 2019. The decline in the PPO reflects the change in the betting mix, with a higher share of lottery games. In addition, the sports betting PPO was reduced by unexpected results.
FDJ recorded gross gaming revenue (GGR: stakes less prizes won) down 15.1% at €2.3 billion. Net gaming revenue (NGR: GGR less contribution to the public finances) amounted to €829 million, i.e. 12.0% of stakes, with stability in the rate of public levies on games compared with that of the first half of 2019 at 63.5% of GGR, or €1.4 billion.
The FDJ Group’s revenue amounted to €849 million (-14.7%), compared with €995 million in the six months to end-June 2019.
- EBITDA of €174 million, representing a margin of 20.5% on revenue (vs 20.9% in H1 2019)
- Contribution margin by activity:
- Lottery: contribution margin steady at 32.2%
The contribution margin of the Lottery BU was €219 million, i.e. a decline of €37 million (‑14.4%), for a margin on revenue of 32.2%, vs 33.2% in H1 2019 on the basis of revenue down 12.2% at €679 million.
Cost of sales, mainly the remuneration of distributors, was down 13.6% due to the drop in stakes in points of sale, while the slight increase of 6.6% in marketing and communication expenses to €65 million reflects the continued development of the product offering, partly offset by the reduction in advertising and promotional expenses.
- Sports betting: contribution margin of 31.3%, an increase of 7 points due to the low PPO ratio
The Sports Betting BU’s contribution margin was €45 million in H1 2020, almost stable compared with the same period in 2019 (€48 million), i.e. a margin on revenue of 31.3%, up more than 7 points compared with the first half of 2019 (24.3%). Based on a drop of 38.8% in stakes, the lower half-yearly PPO ratio than in the first half of 2019 (73.1% vs 77.7%) helped limit to €50 million the decline in revenue (-25.7%) to €145 million.
The 39.3% reduction in cost of sales reflects trends in stakes, while the 15.8% decline in marketing and communication expenses to €34 million is related to the reduction in advertising and promotional initiatives against the backdrop of a reduced product offering.
- Adjacent activities and holding company
Adjacent activities (International, Payments & Services and Entertainment) and the holding company recorded revenue of €24 million, with a contribution margin close to breakeven. Holding company costs amounted to €89 million, down €9 million compared with H1 2019.
- EBITDA margin of 20.5%, virtually stable thanks in large part to the implementation of a savings plan of more than €80 million
From the onset of the health crisis and its first effects, the Group implemented a savings plan of more than €80 million for 2020. Two-thirds of the plan, more than half of which covered A&P expenditure, was implemented in H1, helping offset more than half of the decline in activity and thereby helping keep FDJ’s EBITDA margin above 20%.
The Group’s operating expenses were down 12.5% at €725 million, of which:
– Cost of sales of €482 million, down 17.6%, which notably includes the remuneration of €336 million for distributors, down €88 million (-21%), in line with the decline in stakes in the point-of-sale network;
– Marketing and communication expenses of €147 million, down nearly 2%;
– General and administrative expenses of €87 million, down 7%.
Depreciation and amortisation amounted to €50 million, compared with €43 million in H1 2019. Their growth was driven mainly by the amortisation of exclusive operating rights over a full half-year in 2020, compared with a single month in H1 2019.
On those bases, the FDJ Group recorded a recurring operating profit of €124 million (-24.9%) and EBITDA of €174 million (-16.4%), i.e. a margin on revenue of 20.5%, compared with 20.9% in June 2019.
- Net income of €50 million including non-recurring items
In the first half of 2020, FDJ recorded other non-recurring operating expenses of €30 million, compared with €7 million in the first half of 2019. They related to Sporting Group, on which FDJ recorded impairment due to its sports betting activity in the United Kingdom.
The financial result for the first half of 2020 (expense of €5 million) reflects the change in the value of part of FDJ’s financial assets in a context of bearish financial markets.
After taking into account a net tax expense of €39 million, down €5 million, the Group’s net profit for the first half of 2020 was €50 million.
- Available cash exceeding €800 million and net cash surplus of €298 million at end-June 2020
At the end of June 2020, the Group had more than €800 million in available cash.
The net cash surplus is one of the indicators of the level of net cash generated by the Group. It corresponds mainly to financial investments and gross cash (€1,154 million), less borrowings (€733 million).
As of 30 June 2020, it amounted to €298 million, an increase of €218 million compared with 31 December 2019. The change was mainly attributable to:
– The EBITDA generated over the half-year, plus a dual positive effect on working capital surplus linked on the one hand to the change in the payment schedule for public levies (monthly in 2020 but weekly in 2019) and on the other hand to unclaimed prizes only returned to the State at the end of the year;
– Against which are charged dividends in respect of 2019 and investments for the first half of the year.
For information, the net cash surplus at the end of June cannot be extrapolated to the end of December because there are significant calendar effects on the payments of public levies, including an advance on public levies in December.
A financial presentation is available on the FDJ group’s website
https://www.groupefdj.com/en/investors/financial-publications.html.
FDJ’s Board of Directors met on 29 July 2020 and reviewed the interim consolidated financial statements at 30 June 2020, which were prepared under its responsibility. The limited review procedures on the interim consolidated financial statements have been carried out. The review report of the statutory auditors is being issued.
The Group’s next financial communication
Given the changing nature of the situation, the estimates and forward-looking statement presented by FDJ cannot constitute either a forecast or a target. The Group will announce its stakes and revenue for the September quarter after trading on 14 October and will issue its new 2020 outlook as soon as possible.
About La Française des Jeux (FDJ Group):
France’s national lottery and leading gaming operator, the #2 lottery in Europe and #4 worldwide, FDJ offers secure, enjoyable and responsible gaming to the general public in the form of lottery games (draws and instant games) and sports betting (ParionsSport), available from physical outlets and online. FDJ’s performance is driven by a portfolio of iconic and recent brands, the #1 local sales network in France, a growing market, recurring investment and a strategy of innovation to make its offering and distribution more attractive with an enhanced gaming experience.
FDJ Group is listed on the Euronext Paris regulated market (Compartment A – FDJ.PA) and is included in the SBF 120, Euronext Vigeo France 20, STOXX Europe 600, MSCI Europe and FTSE Euro indices.
For further information, www.groupefdj.com
Appendices
Adjusted 2019 data, with the full-year application of the new tax regime that came into force on 1 January 2020 and the consolidation of Sporting Group over 12 months.
In € million |
30 June 2020 |
30 June 2019 |
Chg. 30 June 2020 vs |
30 June 2019 |
Chg. 30 June 2020 vs |
Stakes* |
6,898 |
8,420 |
(18.1%) |
8,454 |
(18.4%) |
Attributable to Lottery |
5,777 |
6,609 |
(12.6%) |
6,609 |
(12.6%) |
Instant lottery games** |
3,558 |
4,012 |
(11.3%) |
4,012 |
(11.3%) |
Draw games |
2,219 |
2,598 |
(14.6%) |
2,598 |
(14.6%) |
Attributable to Sports betting |
1,108 |
1,810 |
(38.8%) |
1,810 |
(38.8%) |
|
|
|
|
|
|
Digitalised stakes*** |
1,391 |
1,652 |
(15.8%) |
1,652 |
(15.8%) |
Offline stakes |
6,269 |
7,917 |
(20.8%) |
7,917 |
(20.8%) |
* Stakes reflect wagers by players, and do not constitute the revenue of the FDJ Group
** Mainly scratch games (point of sale and online)
*** Digitalised stakes include online and digitalised stakes at the point of sale, i.e. using a digital service/application for their preparation, prior to registration by the distributor
In € million |
30 June 2020 |
30 June 2019 |
Chg. 30 June 2020 vs |
30 June 2019 |
Chg. 30 June 2020 vs |
Stakes |
6,898 |
8,420 |
(18.1%) |
8,454 |
(18.4%) |
Player winnings |
4,646 |
5,757 |
(19.3%) |
5,799 |
(19.9%) |
Player payout ratio |
67.3% |
68.4% |
|
68.6% |
|
Gross gaming revenue (GGR) |
2,253 |
2,663 |
(15.4%) |
2,654 |
(15.0%) |
GGR as a % of stakes |
32.7% |
31.6% |
3.3% |
31.4% |
4.0% |
Net gaming revenue (NGR) |
829 |
933 |
(11.2%) |
976 |
(15.0%) |
NGR as a % of stakes |
12.0% |
11.1% |
8.5% |
11.5% |
4.1% |
Revenue |
849 |
944 |
(10.1%) |
995 |
(14.7%) |
Segment reporting
30 June 2020 | |||||||
In € millions | Lottery BU | Sport Betting BU |
Other segments |
Holding company |
Total before depreciation and amortisation |
Depreciation and amortisation |
Total Group |
Stakes |
5,777 |
1,108 |
14 |
– |
6,898 |
6,898 |
|
Gross gaming revenue |
1,954 |
298 |
1 |
– |
2,253 |
2,253 |
|
Net gaming revenue |
677 |
145 |
6 |
– |
829 |
829 |
|
Revenue |
679 |
145 |
24 |
1 |
849 |
849 |
|
Cost of sales |
(395) |
(65) |
(3) |
– |
(464) |
(18) |
(482) |
Marketing and communication expenses |
(65) |
(34) |
(21) |
(12) |
(133) |
(14) |
(147) |
Contribution margin |
219 |
45 |
(1) |
(12) |
251 |
(32) |
219 |
General and administration expenses |
(78) |
(78) |
(18) |
(95) |
|||
EBITDA |
174 |
||||||
Depreciation and amortisation |
(50) |
||||||
Recurring operating profit |
124 |
BU Loterie | BU Paris sportifs |
ABU | Holding | Total avant amort. |
Amort. | Total Groupe | |
Mises |
6,610 |
1,810 |
34 |
0 |
8,454 |
8,454 |
|
Produit Brut des Jeux (PBJ) |
2,251 |
403 |
0 |
0 |
2,654 |
2,654 |
|
Produit Net des Jeux (PNJ) |
771 |
195 |
9 |
0 |
976 |
976 |
|
Chiffre d’affaires |
773 |
195 |
27 |
0 |
995 |
995 |
|
Coût des ventes |
-456 |
-107 |
-3 |
0 |
-566 |
-19 |
-585 |
Coûts marketing et communication |
-61 |
-41 |
-22 |
-14 |
-138 |
-12 |
-150 |
Marge contributive |
256 |
48 |
2 |
-14 |
291 |
-31 |
260 |
Coûts administratifs et généraux |
-83 |
-83 |
-12 |
-95 |
|||
EBITDA |
208 |
||||||
Dotations aux amortissements |
-43 |
||||||
Résultat Opérationnel Courant |
165 |
30 June 2019 published | |||||||
In € millions | Lottery BU |
Sport Betting BU |
Other segments |
Holding company |
Total before depreciation and amortisation |
Depreciation and amortisation |
Total Group |
Stakes |
6,610 |
1,810 |
– |
– |
8,420 |
8,420 |
|
Gross gaming revenue |
2,257 |
406 |
– |
– |
2,663 |
2,663 |
|
Net gaming revenue |
759 |
173 |
2 |
– |
933 |
933 |
|
Revenue |
761 |
173 |
11 |
– |
944 |
944 |
|
Cost of sales |
(456) |
(107) |
(1) |
– |
(564) |
(19) |
(583) |
Marketing and communication expenses |
(62) |
(40) |
(11) |
(14) |
(127) |
(11) |
(138) |
Contribution margin |
243 |
26 |
(2) |
(14) |
253 |
(30) |
223 |
General and administration expenses |
(76) |
(76) |
(11) |
(87) |
|||
EBITDA |
177 |
||||||
Depreciation and amortisation |
(41) |
||||||
Recurring operating profit |
136 |
Consolidated income statement
In € millions | 30 June 2020 | 30 June 2019 published |
Stakes |
6,898.4 |
8,420.0 |
Player payout |
(4,645.5) |
(5,756.9) |
Gross gaming revenue |
2,252.8 |
2,663.0 |
Public levies |
(1,429.8) |
(1,692.4) |
Structural allocations to counterparty funds |
0.0 |
(39.1) |
Other revenue from sports betting |
6.0 |
1.9 |
Net gaming revenue |
829.0 |
933.4 |
Revenue from other activities |
19.7 |
10.5 |
Revenue |
848.6 |
944.0 |
Cost of sales |
(481.9) |
(582.9) |
Marketing and communication expenses |
(147.5) |
(138.1) |
General and administrative expenses |
(87.0) |
(85.6) |
Other recurring operating income |
0.5 |
0.4 |
Other recurring operating expenses |
(9.0) |
(1.8) |
Recurring operating profit |
123.8 |
135.9 |
Other non recurring operating income |
0.2 |
0.1 |
Other non recurring operating expenses |
(30.3) |
(7.3) |
Operating profit |
93.7 |
128.7 |
Cost of debt |
(2.1) |
(0.8) |
Other financial income |
5.7 |
12.2 |
Other financial expenses |
(8.9) |
(0.5) |
Net financial income/(expense) |
(5.2) |
10.9 |
Share of net income for joint ventures |
0.5 |
0.6 |
Profit before tax |
89.0 |
140.2 |
Income tax expense |
(38.8) |
(44.4) |
Net profit for the period |
50.2 |
95.9 |
Attributable to : | ||
Owners of the parent |
50.2 |
95.9 |
Non -controlling interests |
0.0 |
0.0 |
Basic earnings per share (in €) |
0.26 |
0.50 |
Diluted earnings per share (in €) |
0.26 |
0.50 |
In € millions |
30 June 2020 |
30 June 2019 |
June 2020 vs |
30 June 2019 |
June 2020 vs |
Recurring operating profit |
124 |
136 |
(8.8%) |
165 |
(24.8%) |
Depreciation and amortisation |
(50) |
(41) |
22.0% |
(43) |
16.3% |
EBITDA |
174 |
177 |
(1.8%) |
208 |
(16.4%) |
Consolidated statement of comprehensive income
In € millions | 30 June 2020 | 30 June 2019 published |
Net profit for the period |
50.2 |
95.9 |
Cash flow hedging, before tax |
0.1 |
0.2 |
Net investment hedge on foreign activities, before tax |
6.6 |
0.6 |
Net currency translation difference, before tax |
(2.4) |
0.3 |
Tax related to items that may subsequently be recycled |
(2.1) |
(0.2) |
Items recycled or that may subsequently be recycled to profit |
2.2 |
0.9 |
Actuarial gains and losses |
0.3 |
(3.3) |
Others |
(0.0) |
(0.0) |
Tax related to actuarial gains and losses through equity |
(0.1) |
1.0 |
Items that may not subsequently be recycled to profit |
0.2 |
(2.3) |
Other comprehensive income/(expense) |
2.4 |
(1.4) |
Total comprehensive income for the period |
52.7 |
94.5 |
Attributable to : | ||
Owners of the parent |
52.7 |
94.5 |
Non-controlling interests |
0.0 |
0.0 |
Consolidated statement of financial position
In € millions | ||
ASSETS | 30 June 2020 | 31 December 2019 published |
Goodwill |
28.1 |
56.4 |
Exclusive operating rights |
363.1 |
370.7 |
Intangible assets |
162.2 |
148.3 |
Property, plant and equipment |
385.7 |
394.0 |
Non-current financial assets |
378.1 |
584.3 |
Investments in associates |
14.9 |
14.5 |
Non-current assets |
1,332.1 |
1,568.2 |
Inventories |
16.3 |
10.5 |
Trade and distribution network receivables |
385.8 |
469.8 |
Other current assets |
302.0 |
314.8 |
Tax payable assets |
6.0 |
18.9 |
Current financial assets |
354.9 |
272.2 |
Cash and cash equivalents |
475.6 |
201.5 |
Current assets |
1,540.6 |
1,287.8 |
TOTAL ASSETS |
2,872.7 |
2,856.0 |
In € millions | ||
EQUITY AND LIABILITIES | 30 June 2020 | 31 December 2019 published |
Share capital |
76.4 |
76.4 |
Statutory reserves |
91.7 |
87.5 |
Retained earnings (incl. Net profit for the period) |
366.2 |
406.7 |
Reserves for other comprehensive income/(expense) |
1.2 |
(1.3) |
Equity attributable to owners of the parent |
535.4 |
569.2 |
Non-controlling interests |
0.0 |
0.0 |
Equity |
535.4 |
569.2 |
Provisions for pensions and other employee benefits |
56.3 |
56.9 |
Non-current provisions |
48.1 |
49.3 |
Deferred tax liabilities |
26.1 |
24.9 |
Non-current player funds |
0.0 |
0.0 |
Non-current financial liabilities |
568.6 |
229.7 |
Non-current liabilities |
699.1 |
360.9 |
Current provisions |
15.9 |
16.7 |
trade and distribution network payables |
314.1 |
411.6 |
Tax payable liabilities |
1.0 |
0.7 |
Current player funds |
176.4 |
156.6 |
Public levies |
540.6 |
414.8 |
Winnings payable and distributable |
244.4 |
189.3 |
Other current liabilities |
180.6 |
169.6 |
Payable to the French State with respect to the exclusive operating rights |
0.0 |
380.0 |
Current financial liabilities |
165.1 |
186.5 |
Current liabilities |
1,638.2 |
1,925.9 |
TOTAL EQUITY AND LIABILITIES |
2,872.7 |
2,856.0 |
Consolidated statement of cash flows
In € millions | 30 June 2020 | 30 June 2019 published |
OPERATING ACTIVITIES | ||
Net consolidated profit for the period |
50.2 |
95.9 |
Change in depreciation, amortisation and impairment of non-current assets |
75.9 |
43.1 |
Change in provisions |
4.1 |
6.1 |
Disposal gains or losses |
0.2 |
0.1 |
Income tax expense |
38.8 |
44.4 |
Other non-cash items from P&L |
(0.2) |
0.0 |
Net financial (income)/expense |
5.2 |
(10.9) |
Share of net income from joint ventures |
(0.5) |
(0.6) |
Non-cash items |
123.5 |
82.2 |
Use of provisions – payments |
(6.5) |
(4.5) |
Interest received |
2.5 |
2.3 |
Income taxes paid |
(25.2) |
(31.9) |
Change in trade receivables and other current assets |
(19.6) |
124.2 |
Change in inventories |
(5.7) |
(1.9) |
Change in trade receivables and other current liabilities |
222.9 |
(56.5) |
Change in other components of working capital |
(1.6) |
(1.5) |
Change in operating working capital |
196.0 |
64.3 |
Net cash flow from/(used in) operating activities |
340.6 |
208.3 |
INVESTING ACTIVITIES | ||
Acquisitions of property, plant and equipment and intangible assets |
(423.2) |
(32.4) |
Acquisitions of investments |
0.0 |
(111.8) |
Disposals of property, plant and equipment and intangible assets |
0.1 |
0.0 |
Change in current and non-current financial assets |
145.3 |
(50.1) |
Disposals of other financial assets |
0.0 |
0.0 |
Change in loan and advances granted |
(26.9) |
2.8 |
Dividends received from associates and non-consolidated share |
0.0 |
0.4 |
Other |
0.5 |
0.0 |
Net cash flow from/(used in) investing activities |
(304.3) |
(191.0) |
FINANCING ACTIVITIES | ||
Issue of long-term debt |
380.0 |
113.3 |
Repayment of the current portion of long-term debt |
(8.8) |
(4.0) |
Repayment of lease liabilities |
(4.0) |
(2.9) |
Dividends paid to ordinary shareholder of the parent company |
(83.4) |
(118.3) |
Interest paid |
(4.8) |
(0.8) |
Other |
(0.6) |
0.0 |
Net cash flow from/(used in) financing activities |
278.5 |
(12.7) |
Impact of exchange rates change |
(0.4) |
0.9 |
Net increase/(decrease) in net cash |
314.3 |
5.5 |
Cash and cash equivalent as at 1 January |
201.5 |
167.2 |
Cash and cash equivalent as at 31 December |
475.6 |
179.0 |
Current bank overdrafts as at 1 January |
(40.2) |
(7.2) |
Current bank overdrafts as at 31 December |
0.0 |
(13.6) |
Consolidated statement of changes in equity
In € millions |
Share capital |
Statutory reserves |
Retained earnings (incl. Net profit for the period) |
Cash flow hedging |
Net investment hedge on foreign activities |
Net currency translation difference |
Actuarial gains and losses |
Reserves for other comprehensive income/ |
Equity attributable to owners of the parent |
Non-controlling interests |
Total equity |
|
|||||||||||
Equity as at 31 December 2018 |
76.4 |
85.3 |
401.1 |
0.2 |
0.0 |
2.1 |
(1.2) |
1.1 |
563.9 |
0.0 |
563.9 |
Net profit for the period |
95.9 |
95.9 |
0.0 |
95.9 |
|||||||
Other comprehensive income/(expense) |
0.2 |
0.4 |
0.3 |
(2.3) |
(1.4) |
(1.4) |
(1.4) |
||||
Total comprehensive income/(expense) for the period |
0.0 |
0.0 |
95.9 |
0.2 |
0.4 |
0.3 |
(2.3) |
(1.4) |
94.5 |
(0.0) |
94.5 |
Appropriation of 2018 profit/(loss) |
2.0 |
(2.0) |
|||||||||
2018 dividends paid |
(122.0) |
(122.0) |
(122.0) |
||||||||
Equity as at 30 June 2019 |
76.4 |
87.4 |
372.8 |
0.4 |
0.4 |
2.4 |
(3.5) |
(0.3) |
536.2 |
(0.0) |
536.2 |
|
|||||||||||
Equity as at 31 December 2019 |
76.4 |
87.5 |
406.7 |
(0.1) |
(1.4) |
4.1 |
(3.9) |
(1.3) |
569.2 |
0.0 |
569.2 |
Net profit for the period |
50.2 |
50.2 |
50.2 |
||||||||
Other comprehensive income/(expense) |
0.1 |
4.5 |
(2.4) |
0.2 |
2.5 |
2.5 |
2.5 |
||||
Total comprehensive income/(expense) for the period |
0.0 |
0.0 |
50.2 |
0.1 |
4.5 |
(2.4) |
0.2 |
2.5 |
52.7 |
0.0 |
52.7 |
Appropriation of 2019 profit/(loss) |
4.2 |
(4.2) |
|||||||||
2019 dividends paid |
(86.0) |
(86.0) |
(86.0) |
||||||||
Other |
(0.6) |
(0.6) |
(0.6) |
||||||||
Equity as at 30 June 2020 |
76.4 |
91.7 |
366.1 |
0.0 |
3.1 |
1.7 |
(3.7) |
1.2 |
535.4 |
0.0 |
535.4 |
Net cash surplus
In € millions | 30 June 2020 | 31 December 2019 published |
Non-current financial assets at amortised cost |
160.0 |
440.0 |
Non-current assets fair value through profit or loss |
131.3 |
90.4 |
Other non-current financial assets excluding deposits |
32.4 |
29.3 |
Total non-current investments (a) |
323.7 |
559.8 |
Current financial assets at amortised cost |
349.0 |
253.0 |
Current financial assets at fair value through profit or loss |
5.0 |
16.1 |
Current derivatives |
0.8 |
0.9 |
Total current investments (b) |
354.8 |
270.0 |
Total current and non-current investments |
678.5 |
829.8 |
Investments, cash equivalents |
185.0 |
121.2 |
Cash at bank and in hand |
290.7 |
80.3 |
Total cash and cash equivalents |
475.7 |
201.5 |
Total gross investments and cash |
1,154.2 |
1,031.3 |
Long-term financial debt |
546.1 |
205.0 |
Non-current lease liabilities |
22.0 |
24.4 |
Total non-current financial debt (c) |
568.1 |
229.4 |
Short-term financial debt |
27.2 |
8.2 |
Current lease liabilities |
7.2 |
7.0 |
Current derivatives |
0.2 |
0.7 |
Other |
130.5 |
170.5 |
Total current financial debt excluding deposits (d) |
165.1 |
186.4 |
Total financial debt |
733.2 |
415.8 |
INVESTMENTS AND NET CASH |
421.0 |
615.5 |
Payable to the French State with respect to the exclusive operating rights |
0.0 |
(380.0) |
Reclassification of online players wallets not yet covered by trust |
0.0 |
(26.9) |
Restricted cash |
(4.5) |
(5.3) |
Sums allocated exclusively to Euromillions winners |
(72.6) |
(77.2) |
Net liability associated with the permanent fund surplus |
(46.1) |
(46.1) |
NET CASH SURPLUS |
297.8 |
79.9 |
(a) Non-current investments correspond to non-current financial assets (as set out in the notes to the consolidated financial statements – statement of financial position), excluding Euromillions deposits and guarantee deposits
(b) Current investments correspond to current financial assets (as set out in the notes to the consolidated financial statements – statement of financial position), excluding given deposits and guarantees
(c) Long-term financial debt corresponds to non-current financial liabilities (as set out in the notes to the consolidated financial statements – statement of financial position), excluding received deposits and guarantees
(d) Short-term financial debt corresponds to non-current financial liabilities (as set out in the notes consolidated financial statements – statement of financial position)
———————————————
1 Restated to reflect the new tax regime that came into force on 1 January 2020 and consolidating Sporting Group on a full-year basis. Based on 2019 reported figures, half-year revenue would have been down 10%.
Canada
Scientific Games Partnership Wins 2024 Gutenberg Award for Sustainability
Scientific Games, in partnership with Loto-Québec, Sustana Papers and Recyc-Québec, won the 2024 Gutenberg Award for sustainability at the 42nd Gala Gutenberg. The Gutenberg Awards are the Québec printing industry’s premier event, highlighting the talent, creativity and expertise of printing artisans.
The partnership’s winning entry was the Le Billet Vert (The Green Ticket) lottery instant scratch game launched by Loto-Québec in April 2024. The game was printed on 100% recycled board provided by Sustana Papers, with 100% water-based inks. Scientific Games enhanced the sustainability of the production process by packing completed games in boxes containing 60% recycled fiber and delivering them on reused European Pallet Association pallets.
The game promotes the recycling of lottery tickets, inviting players to download Recyc-Québec’s Ça va où? (Where Does It Go?) mobile app. The app teaches users to correctly sort recyclables and shows them drop-off locations for various types of household waste.
Isabelle Jean, Executive Vice-President and Chief Operating Officer of Lottery Games for Loto-Québec, said, “Since our first scratch game printed on 100% recycled paper stock debuted in 2021, our sustainability efforts have only increased. Congratulations to our team members from Loto-Québec, Scientific Games, Sustana Papers and Recyc-Québec for their vision. Together, we are reducing the environmental footprint of our games.”
The sustainable materials and game production techniques used for Le Billet Vert saved 110 mature trees, the equivalent of 326 10-minute showers, and the electrical power of 882,587 60-watt lightbulbs in one hour (Sustana Solutions eco calculator).
Marc-Andre Doyon, Vice President Canada for Scientific Games, said, “Through this collaboration, Scientific Games and our partners lead the global lottery industry in instant game sustainability. It’s truly an honor to win the Gutenberg Award for our efforts.”
Le Billet Vert is the thirteenth 100% recyclable game created for Loto-Québec since 2021 when Scientific Games and the Lottery began collaborating on a project to bring sustainable instant games to the lottery industry. Another game from this collection, Folie des plantes (Plant Madness), won the Gutenberg Award for sustainability in 2022. Other 100% recyclable Loto-Québec games produced by Scientific Games include Evasion (Escape), Code secret (Secret Code), SLINGO 10X and C’est quoi ton signe? (What’s Your Sign?).
Scientific Games is Loto-Québec’s primary instant game partner, producing the Lottery’s first instant game more than 50 years ago. The company has employed generations of Québécois professionals from their Montréal production facility, which produces instant games for Canadian and European lotteries.
With products that generate more than 70% of global instant game retail sales, Scientific Games is the world’s largest instant games creator, producer and services provider, and the primary provider to nine of the Top 10 performing instant game lotteries in the world (La Fleur’s 2024 World Lottery Almanac).
Industry Awards
Soft2Bet’s Betinia shortlisted in five categories of the EGR Marketing and Innovation Awards
Nominations in five categories of the EGR Marketing and Innovation Awards is further recognition of Soft2Bet’s cutting-edge gamification solutions and innovative approach.
Soft2Bet, a leading provider of iGaming turnkey solutions, is delighted to announce that Betinia, its renowned brand in Denmark and Sweden, has been shortlisted in five categories of the EGR Marketing and Innovation Awards 2024.
The nominations are recognition of the incredible work that has been achieved by the Betinia team in two of Europe’s most competitive and regulated markets.
Betinia’s shortlisting in the following categories:
- Best Native App,
- CRM Campaign,
- Innovation in Sports Betting,
- Innovation of The Year,
- Responsible Gambling Marketing Campaign of the Year, demonstrates how it has grown into being one of the most innovative and progressive operators in the industry.
Soft2Bet was recognised in February when its Motivational Engineering Gaming Application (MEGA) gamification solution won the Innovation of the Year at the EGR Nordics Awards and it is delighted to see its achievements gain further recognition with these shortlist nominations.
Oksana Tsyhankova, CMO of Soft2Bet, commented: “Being shortlisted in five categories is a great achievement and huge credit goes to our technical, product and marketing teams. Betinia’s success in two of Europe’s most competitive and regulated markets is also highly satisfying because it showcases our B2C expertise in driving engagement, retention and revenues.”
The post Soft2Bet’s Betinia shortlisted in five categories of the EGR Marketing and Innovation Awards appeared first on European Gaming Industry News.
Betmotion
Betmotion leads campaign to aid victims of the Rio Grande do Sul floods
In response to the recent and devastating floods in Rio Grande do Sul, which have displaced over 100,000 people and severely affected 70% of the state’s municipalities, Betmotion, through its Corporate Social Responsibility project, BetSocial, is mobilising efforts to assist the victims of this catastrophe.
BetSocial has launched an initiative to support the actions of the NGOs Ação da Cidadania and CUFA, which are leading the charge in providing immediate aid to the impacted communities. At this critical moment, BetSocial is reinforcing the call for everyone to unite in solidarity and make donations that will be crucial for reconstructing affected lives.
“The tragedy that has struck Rio Grande do Sul requires a swift and coordinated response. At Betmotion, we believe in the power of solidarity and in our community’s ability to make a difference in times of need,” states Bianca Passos, founding member of BetSocial. “Every contribution, no matter how small, has a significant impact on the lives of those facing such difficult days.”
To facilitate donations, BetSocial has provided information on how to make contributions via PIX to the two partner organisations:
-
Ação da Cidadania: [email protected]
-
CUFA: [email protected]
Betmotion and BetSocial thank you in advance for your support and solidarity. They reiterate their commitment to work to alleviate the hardships faced by this catastrophe’s victims and continue promoting significant social impact actions.
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