LONDON, UNITED KINGDOM–(Marketwired – May 16, 2017) – Jackpotjoy plc (LSE: JPJ)
LSE: JPJ
Jackpotjoy plc
Results for the Three Months ended 31 March 2017
Gaming revenue up 11% year-on-year
Full year 2017 outlook confirmed
LONDON, 16 May 2017 – Jackpotjoy plc (LSE: JPJ), the largest online bingo-led operator in the world, today announces the results of the Jackpotjoy group (the “Group”) for the three months ended 31 March 2017.
Financial summary
| Three months ended 31 March 2017 £m) |
Three months ended 31 March 2016 £m) |
Reported Change % |
||||
| Gaming revenue | 71.4 | 64.2 | 11 | |||
| Net (loss)/income (as reported under IFRS) | (15.3) | 5.1 | – | |||
| Adjusted EBITDA1 | 29.2 | 28.0 | 4 | |||
| Adjusted net income1 | 20.8 | 23.4 | (11) |
Group financial highlights
- Solid financial performance:
- Gaming revenue growth of 11% driven by 14% growth in the Jackpotjoy segment (71% of revenue)
- Adjusted EBITDA1 increased 4%, or 9% excluding income of £1.2m earned from the revenue guarantee in the prior year
- Adjusted net income1 down 11% due to higher interest expense from additional debt facility obtained in Q4 2016, and the impact of income earned from the revenue guarantee in the prior year
- Strong ongoing cash generation:
- 31.3p of operating cash flow per share2. Excluding one-time/exceptional items3, this metric would increase to 40.3p per share2
- 80% conversion rate from Adjusted EBITDA1 to operating cash flow. Excluding one-time/exceptional items3 this metric would increase to 103%
- Gross cash of £112.3m at 31 March 2017
- Adjusted net debt4 of £407.3m at 31 March 2017 (£408.1m at 31 December 2016)
- No change to full year 2017 outlook – management expects revenue growth in line with market growth rates
| Enquiries | ||
| Jackpotjoy plc | ||
| Jason Holden | +44 (0) 207 016 9866 | |
| Director of Investor Relations | +44 (0) 7812 142118 | |
| jholden@jackpotjoyplc.com | ||
| Jackpotjoy Group | ||
| Amanda Brewer | +1 416 720 8150 | |
| Vice President of Corporate Communications | ||
| amanda.brewer@jackpotjoygroup.com | ||
| Media Enquires | ||
| Finsbury | +44 (0) 207 251 3801 | |
| James Leviton | ||
| Andy Parnis | ||
| jackpotjoy@finsbury.com |
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