JPJ Group PLC Announces 1st Quarter Results

JPJ Group plc


JPJ Group PLC Announces 1st Quarter Results

Wednesday, May 15, 2019 2:00 AM
JPJ Group plc Results for the Three Months Ended 31 March 2019

Gaming revenue up 13% year-on-year, with adjusted EBITDA up 16%
Trading in line with expectations

LONDON, UK / ACCESSWIRE / May 15, 2019 / JPJ Group plc (LSE: JPJ) (the 'Group'), a leading global online bingo-led operator, today announces the results for the three months ended 31 March 2019.

Financial summary1

Three months ended

31 March 2019

(£m)

Three months ended

31 March 2018

(£m)

Change

(%)

Gaming revenue

83.3

74.0

13

Net income/(loss) from continuing operations (as reported under IFRS)

7.9

(8.0)

-

Adjusted EBITDA2

29.0

24.9

16

Adjusted net income2

22.6

19.1

18

Operating cash flows

20.6

24.4

(16)

Diluted net income/(loss) per share from continuing operations3

0.11

(0.11)

-

Diluted adjusted net income per share from continuing operations2,3

0.30

0.26

15

Financial highlights for first quarter

• Good financial performance

o Gaming revenue rose 13% year-on-year, driven by strong organic growth4 at Vera&John

o Adjusted EBITDA2 increased 16% year-on-year highlighting operating leverage at Vera&John

o Adjusted net income2 increased by 18% year-on-year

• Strong ongoing cash generation and reduction in net debt

o Completed the sale of the Mandalay business for £18.0 million on 12 March 2019 - a £12.0 million cash consideration was received upfront with the outstanding £6.0 million to be paid in September 2019

o Free cash flow5 of £18.8 million and adjusted net debt6 of £274.8 million (compared to £302.1 million at 31 December 2018)

o Adjusted net leverage ratio7 of 2.44x reduced from 2.68x at 31 December 2018

• Following the positive start to 2019, the Group continues to trade in line with management's expectations

Operational highlights

• Continued improvement in core KPIs8,9 year-on-year:

o Average Active Customers per Month8,9 grew to 242,938 in the twelve months to 31 March 2019, an increase of 8% year-on-year

o Average Real Money Gaming Revenue per Month8,9 grew to £25.7 million, an increase of 12% year-on-year

o Monthly Real Money Gaming Revenue per Average Active Customer8,9 of £106, an increase of 4% year-on-year

Click on, or paste the following link into your web browser, to view the full announcement

http://www.rns-pdf.londonstockexchange.com/rns/0366Z_1-2019-5-14.pdf

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SOURCE: RNS London Stock Exchange


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