Betclic drives third-quarter revenue for FL Entertainment
FL Entertainment’s third-quarter revenue was €2,713m, up +15.0% on a reported basis and +12.0% at constant exchange rates. Adjusted EBITDA €446m, up +17.5% versus 9M 2021, leading to 40bp margin increase to 16.5%. Adjusted net income: €210m up +15.4% versus €182m for the first 9M 2021.
François Riahi, CEO of FL Entertainment, said: “FL Entertainment delivered strong Group revenue growth for the first nine months of 2022, demonstrating continued high profitability and cash generation. In Content production & distribution, we saw a return to normalized seasonality in Q3 2022 with strong activity across existing and new unscripted formats, as well as attractive new scripted programming including Marie-Antoinette in France and SAS Rogue Heroes in the UK. Distribution revenues were also up across both broadcaster and streaming platforms. We also successfully executed 11 bolt-on
acquisitions this year so far, which will continue to drive performance and business development going forward.
Our Online sports betting & gaming business performed very well also, with an outstanding earnings growth, driven by its appealing digital platform and lean cost structure. With an 11% growth in unique active players year on year, Betclic is well placed to capitalize on opportunities from the football world cup, underpinned by its robust commitment to the highest standards of responsible gaming.
In an inflationary environment with several macroeconomic challenges, FL Entertainment is focused on driving productivity gains, particularly in content production, to protect margins and strong cash generation levels. The positive momentum seen in the year to date, combined with our leading positions in attractive and growing segments of the entertainment industry, puts us in a strong position to maintain continued sustainable growth in line with our 2022 guidance and mid-term outlook.”