Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Digital lottery company Jumbo Interactive (JIN) releases its preliminary underlying financial results for FY22
  • Jumbo expects a 36 per cent increase in total transaction value to $660.1 million as well as a 27 per cent revenue increase to $103.8 million
  • Following suit, is a 14 per cent growth in EBITDA to $54 million and a 16 per cent increase in net profit after tax of $31.6 million
  • The company says FY22 was a “pivotal year” with an improved jackpot cycle and supportive domestic environment positioning it well to execute its growth plans
  • JIN shares are down 14.6 per cent to trade at $12.36 at 1:11 pm AEST

Jumbo Interactive (JIN) has announced its expectations for its preliminary underlying results for the 2022 financial year.

The digital lottery company expects total transaction value to increase 36 per cent from $487 million in FY21 to $660.1 million in FY22. It also expects a 27 per cent increase in revenue to $103.8 million.

Furthermore, Jumbo Interactive flagged a 14 per cent increase in underlying earnings before interest, tax, depreciation and amortisation to $54 million and an underlying net profit after tax (NPAT) of $31.6 million. The forecast NPAT result represents a 16 per cent year-on-year increase.

The company attributed the growth to an improved jackpot cycle in FY22. The domestic jackpot environment remains supportive with 43 Powerball/OzLotto jackpots larger than or equal to $15 million in FY22, compared to 38 in FY21.

The second half of the financial year reportedly benefitted from a $120 million Powerball jackpot in February which was the first jackpot over $100 million since September 2019.

“FY22 has been a pivotal year for Jumbo as we build the foundations to successfully execute on our global growth strategy,” CEO and Founder Mike Veverka said.

“Lottery Retailing is exceptionally well positioned to benefit from the ongoing shift to digital and the new OzLotto game launched in May 2022 while the integration of Stride and StarVale will help us build scale in our Managed Services and SaaS segments globally,” Mr Veverka added.

The company will announce its final results for FY22 at the end of August.

JIN shares were down 14.6 per cent to trade at $12.66 at 1:11 pm AEST.

JIN by the numbers
More From The Market Herald

" Galileo Mining (ASX:GAL) assesses extent of Callisto discovery with next round of diamond drilling

Galileo Mining (ASX:GAL) kicks off diamond drilling at its Callisto palladium discovery within its Norseman project…

" Hot Chili (ASX:HCH) lands approval to connect to Chile’s national power grid

Copper explorer Hot Chili (ASX:HCH) is set to connect its flagship Costa Fuego project to Chile's…
The Market Herald Video

" Caprice Resources (ASX:CRS) intersects shallow gold at Island Gold Project

Caprice Resources (ASX:CRS) intersects shallow gold mineralisation at its first reverse circulation drilling program at the…

" Orion Minerals (ASX:ORN) raises $1.35m in SPP

Orion Minerals (ASX:ORN) has raised $1.35 million in its share purchase plan (SPP) to advance its…