Groupe FDJ navigates another year of operational hurdles, to achieve its core objective of outperforming 2019 metric results – deemed necessary following its disrupted 2020 IPO on the Paris Euronext Exchange.
Publishing its 2021 consolidated results, FDJ full-year corporate revenues stood at €2.3 billion, up 18% and 10% on respective FY2021 and FY2020 results of €1.9 and 2.05 billion.
Group stakes (lottery sales and sportsbook wagers) hit the €19 billion mark, as FDJ ‘returned to a normal trading environment‘ from June onwards, being allowed to operate all 30,000 points-of-sale (POS) across France’s 22 regional provinces.
Operating its POS network to full capacity, FDJ’s FY2021 lottery sales (draw games and instants) accounted for €14.7 billion, up 15% and 8% on respective FY2021/FY2020 results of €12.7 and €13.5 billion.
Of significance, FDJ underlined the continued growth momentum of its digital channel that registered total lottery sales of €1.6 billion – “representing more than 11% of total stakes, a very substantial increase from 6% in 2019.”
Lottery growth was supported by FDJ’s Parions Sports unit recording a +33 increase in wagering (POS + online) to €4.2 billion (FY2021: €3.1bn).
Year trading saw FDJ account for a total group payout of €12.97 billion (player prizes and winnings) – that saw FY2021 gross revenues (GGR) stand at €6 billion.
Stéphane Pallez, Chairwoman and CEO of FDJ, said: “The year 2021 marks FDJ’s return to its pre-crisis growth trajectory for all its activities. The Group’s 2021 results are significantly higher than those recorded in 2019, thanks to the acceleration online and the growth within our network of points of sale.”
Undertaking its civic duties, total levies paid back to the French government were registered at €3.8 billion, meanwhile full-year cost of sales amounted to €1.2 billion – that were primarily attributed to €900 million POS commissions.
Further corporate expenses saw FDJ account for full-year marketing costs of €415 million (+25%) and group administrative costs of €200 million (15%).
Closing its 2021 consolidated accounts, FDJ corporate EBITDA stood at €522 million, up 22% and 23% on respective FY2021/FY2020 results of €427 and €422 million.
Improved earnings results saw FDJ declare FY2021 net profits of €294 up 38% on 2021 results of €214 million.
Providing a 2022 forecast, FDJ governance announced its headline targets of “revenue growth of nearly 5%. Growth in online stakes is expected to exceed 20%”
FDJ has further revised its 2025 post-Paris IPO targets, in which the company anticipates delivering investors an average yearly growth rate of 3-to-4%.
“This performance demonstrates the relevance of our strategy and leads us to revise upwards the 2025 objectives communicated at the time of the Group’s IPO, both in terms of growth and EBITDA margin. “ Pallez concluded.
“At the same time, we are continuing our societal commitments, which have already been significantly strengthened since the start of the health crisis. FDJ will carry on combining financial performance with extra-financial commitments for the benefit of all of its stakeholders.”