Digital lottery dealer Jumbo Interactive achieved a 39% profit growth in the fiscal year 2024, exceeding analysts' expectations.
Data: Jumbo reported an NPATA of $46.4 million, a year-over-year increase of 39%, higher than the market expectation of $44.7 million. Revenue grew 34% to $159.3 million, while basic EBITDA increased 33% to $79.3 million, both slightly above average forecasts.
The company announced an annual dividend of 54.5 cents per share, a growth of 26.7% from last year, but 4% lower than market expectations.
Jumbo's outlook for fiscal year 2025 is milder than expected, with an EBITDA profit margin projected at 46% to 48%, compared to 48.1% in fiscal year 2024, with analysts expecting 48.9%.
Background: Jarden analysts described it as "strong operational results," with lottery retail EBITDA better than expected, despite increased marketing costs, driving earnings.
What they say: Jumbo's Managing Director, CEO, and founder Mike Veverka stated, "For the first time ever, our number of active players in the lottery retail sector has exceeded 1 million, highlighting our ability to engage with existing players and attract new ones during large jackpot periods.
"Our significantly larger active player base, focus on player experience, innovation, and stable service fees to The Lottery Corporation, means we are in a very favorable position in fiscal year 2025," he said.
