- 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.