FDJ records €0.5bn in Q3 revenue

French operator FDJ expects to hit annual revenue of €1.9bn following strong Q3 performance.

The group was buoyed by the return of sporting action over the summer, as events that were postponed during Q2 began to restart.

Total stakes rose by 6% quarter-to-quarter up to €4.4bn, with stakes in sports betting growing by 27% alone across online and retail, accounting for €1bn of total.

Lottery activity remained flat at 1% to €3.4bn, which saw the resumption of FDJ’s Amigo lottery draw and an uptake in interest in instant win games.

The group recorded Q3 revenue of €0.5bn, while revenue for year to date amounted to €1.35bn, marking an annual 9.7% decrease on 2019 (€1.42bn).

Looking to the future, FDJ expects to record annual stakes of €16bn, a decrease of 6% year-on-year.

The group also stated that due to its cost reduction plan, totalling more than €80m, it should generate annual revenue of €1.9bn, representing a 7% annual loss.

Stéphane Pallez, FDJ Group CEO and chair, said: “The third quarter confirmed the good momentum seen since mid-June and a recovery in our business at levels comparable to 2019. The group thus demonstrates its resilience and its reactivity.

“Over the entire year, without new measures of general restrictions linked to the evolution of the health environment, the impact of the crisis on our revenue should be contained, and our EBITDA margin should remain at a high level, thanks to the strong mobilisation of our employees and our distribution network, as well as the cost reduction measures that we implemented as early as March,” she added.