FL Entertainment has reported a revenue rise of +1.1%1 to €900m in Q1. Online sports betting & gaming was up +14.5% revenue.

Adjusted EBITDA2 stable at €145m in Q1 2023, resulting in an EBITDA margin of 16.1% Adjusted net income was up +5.3% to €70m versus Q1 2022, net income at €8.4m (Q1 2022: €42.0m)mainly driven by non-cash expenses related to changes in financial instruments.

François Riahi, CEO of FL Entertainment, said:“FL Entertainment enjoyed a positive start to 2023, with solid financial results and strong business momentum. Our Online sports betting & gaming business continued to perform well, carried by the increase in Unique Active Players secured during the 2022 FIFA World Cup, which resulted in double-digit revenue growth across all activities.

On the Content production & distribution side, we registered a strong Distribution performance while content production activity normalized compared to the elevated post- covid catch-up effect seen in Q1 2022. We continued to nurture our future growth by strengthening our partnerships with major streaming platforms as they recognize our unrivalled multi-format, geographic and language capabilities, notably when it comes to non-scripted formats well suited to the current macroeconomic climate.

We are well positioned to build on our leadership positions, continue to seize M&A opportunities in structurally growing markets and deliver continued profitable growth in 2023 and beyond.”