FDJ turnover falls 7% as Covid-19 closures bite

Finance News

French operator La Française des Jeux (FDJ) has posted a 7% drop in revenue to €16bn and net revenue down 6% to €1.9bn.

EBITDA totalled €427m, online stakes continued their strong momentum, with a further annual growth of nearly 40%, driven by digital lottery, up more than 60% at over €1.1 billion.

The decline in sports betting was limited to 10% to €3.2 billion over the year, thanks to growth of 20% in the second half, compared to the second half of 2019, following a decline of early 40% in the first half.

Stéphane Pallez, Chairwoman and Chief Executive Officer of FDJ group, said: “2020 was an unprecedented and contrasted year during which FDJ demonstrated resilience and solidarity. 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.

I would like to thank our employees for their commitment, and to renew our support for our network of retailers, some of which have been severely impacted. As 2021 gets started, while uncertainties persist, the Group remains confident in its prospects for sustainable growth, consistent with its raison d’être.”