FDJ sees 2020 revenue fall 6% despite H2 recovery

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FDJ sees 2020 revenue fall 6% despite H2 recovery

Française des Jeux (FDJ) has reported a 6% year-on-year decline in revenue for full-year 2020 down to €1.92bn ($2.32bn) despite H2 showing signs of recovery after the significant impact caused by the coronavirus pandemic.

The French operator also saw total stakes placed for 2020 fall by 7% down to €15.96bn, while EBITDA totalled €427m, equating to a margin of 22% of revenue and a 1% rise from 2019.

Net profit for the year amounted to €213.7m compared to a net adjusted profit of €201.8m for 2019, representing a 6% rise.

The suspension of live sport from March until May caused sports betting stakes to decline by 10% for the year, down to €3.2bn. However, the online transformation seen in the gambling industry as a result of global lockdowns saw the operator’s online stakes increase by 40% for the year, with digital lottery up 60% to €1.1bn.

The return of a near full sporting calendar for H2 2020, which included a packed schedule during Q4, helped the operator’s sports betting vertical grow by 20% in terms of stakes, compared to the same period a year prior. That helped to offset a 39% decline recorded in the first-half of the year.

Total lottery stakes for the year were down 6% to €12.7bn, with retail venues closed for much of the year in response to the pandemic.

FDJ mentioned that an increase in total stakes for H2 by 3% helped offset the decline for the full-year, after stakes fell by 18% during the first six months of 2020.

FDJ CEO Stéphane Pallez said: “The health crisis had a particularly strong impact on our business in the first half. But the recovery in the second half, combined with the group’s responsiveness and relevant digital strategy, enabled us to preserve our performance and annual results.”

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