JPJ Group PLC Announces 1st Quarter Results
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JPJ Group PLC Announces 1st Quarter Results

Wednesday, May 15, 2019 2:00 AM
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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


Three months ended

31 March 2018




Gaming revenue




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




Adjusted EBITDA2




Adjusted net income2




Operating cash flows




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




Diluted adjusted net income per share from continuing operations2,3




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

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SOURCE: RNS London Stock Exchange

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