Jackpotjoy plc: 3rd Quarter Results
/EINPresswire.com/ -- LONDON, UNITED KINGDOM--(Marketwired - Nov 14, 2017) - Jackpotjoy plc (
Jackpotjoy plc
Results for the Three Months and Nine Months Ended 30 September 2017
Q3 revenue up 14% year on year
Remain confident in meeting upper end of expectations
LONDON, 14 November 2017 - Jackpotjoy plc (
Financial summary
| Three months ended 30 Sept 2017 (£m) | Three months ended 30 Sept 2016 (£m) |
Reported Change % | Nine months ended 30 Sept 2017 (£m) | Nine months ended 30 Sept 2016 (£m) |
Reported Change % | |||||||
| Gaming revenue | 75.4 | 66.4 | 14 | 222.0 | 194.0 | 14 | ||||||
| Net loss (as reported under IFRS) | (7.7 | ) | (18.6 | ) | 59 | (27.7 | ) | (28.4 | ) | 2 | ||
| Adjusted EBITDA | 26.7 | 25.6 | 4 | 85.9 | 77.1 | 11 | ||||||
| Adjusted net income | 18.3 | 21.2 | (14 | ) | 60.9 | 63.7 | (4 | ) | ||||
| Operating cash flows | 32.6 | 18.3 | 78 | 78.2 | 63.3 | 24 |
Financial highlights for the third quarter
- Strong financial performance:
- Gaming revenue rose 14%, supported by 12% growth in the Jackpotjoy segment and 28% growth at Vera&John
- Adjusted EBITDA increased 4%, reflecting planned increase in marketing costs
- Adjusted net income decreased 14% year on year due to higher interest costs related to additional debt acquired to pay the earn-out
- Gaming revenue rose 14%, supported by 12% growth in the Jackpotjoy segment and 28% growth at Vera&John
- Ongoing good cash generation and net debt reduction:
- Operating cash flow growth of 78% year on year, including a working capital inflow
- 44p of operating cash flow per share(
- Adjusted EBITDA to cash conversion of over 100%
- Adjusted net debt reduced by £23.4 million; adjusted net leverage ratio of 3.35x reduced from 3.60x at 30 June 2017
- Operating cash flow growth of 78% year on year, including a working capital inflow
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