FDJ sees Covid-19 crisis knock $112.5mln off earnings

Business News

French lottery operator Française des Jeux took a 200 million-euro ($225 million) loss in sales because of the COVID-19-related crisis that triggered a two-month national lockdown, its chief executive officer, Stephane Pallez, told Les Echos.

This revenue shortfall translated into a 100 million-euro loss in earnings before interest, taxes, depreciation and amortisation (EBITDA).

FDJ said in April it had started looking at cost-cutting plans aimed at saving more than 80 million euros. The company, which was listed on the stock market by the government last year, will report first-half results on July 29.