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Jackpotjoy PLC Results for the Three Months ended 31 March 2017

/ -- LONDON, UNITED KINGDOM--(Marketwired - May 16, 2017) - Jackpotjoy plc (LSE: JPJ)


Jackpotjoy plc
Results for the Three Months ended 31 March 2017

Gaming revenue up 11% year-on-year
Full year 2017 outlook confirmed

LONDON, 16 May 2017 - Jackpotjoy plc (LSE: JPJ), the largest online bingo-led operator in the world, today announces the results of the Jackpotjoy group (the "Group") for the three months ended 31 March 2017.

Financial summary

    Three months ended
31 March 2017
  Three months ended
31 March 2016
Gaming revenue   71.4   64.2   11
Net (loss)/income (as reported under IFRS)   (15.3)   5.1   -
Adjusted EBITDA1   29.2   28.0   4
Adjusted net income1   20.8   23.4   (11)

Group financial highlights

  • Solid financial performance:
    • Gaming revenue growth of 11% driven by 14% growth in the Jackpotjoy segment (71% of revenue)
    • Adjusted EBITDA1 increased 4%, or 9% excluding income of £1.2m earned from the revenue guarantee in the prior year 
    • Adjusted net income1 down 11% due to higher interest expense from additional debt facility obtained in Q4 2016, and the impact of income earned from the revenue guarantee in the prior year
  • Strong ongoing cash generation:
    • 31.3p of operating cash flow per share2. Excluding one-time/exceptional items3, this metric would increase to 40.3p per share2
    • 80% conversion rate from Adjusted EBITDA1 to operating cash flow. Excluding one-time/exceptional items3 this metric would increase to 103%
    • Gross cash of £112.3m at 31 March 2017
    • Adjusted net debt4 of £407.3m at 31 March 2017 (£408.1m at 31 December 2016)
  • No change to full year 2017 outlook - management expects revenue growth in line with market growth rates
Jackpotjoy plc    
Jason Holden   +44 (0) 207 016 9866
Director of Investor Relations   +44 (0) 7812 142118    
Jackpotjoy Group    
Amanda Brewer   +1 416 720 8150
Vice President of Corporate Communications    
Media Enquires    
Finsbury   +44 (0) 207 251 3801
James Leviton    
Andy Parnis    

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