JPJ Group PLC Announces 1st Quarter Results

ACCESSWIRE
15 May 2019, 16:01 GMT+10

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 (Pound m)	Three months ended 31 March 2018 (Pound m)	Change (%)
Gamingrevenue	83.3	74.0	13
Netincome/(loss) from continuing operations (as reported under IFRS)	7.9	(8.0)	-
AdjustedEBITDA²	29.0	24.9	16
Adjustednet income²	22.6	19.1	18
Operatingcash flows	20.6	24.4	(16)
Dilutednet income/(loss) per share from continuing operations³	0.11	(0.11)	-
Dilutedadjusted net income per share from continuing operations^2,³	0.30	0.26	15

Financial highlights forfirst quarter

Good financial performance

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

o Adjusted EBITDA²increased 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 Pound 18.0 million on 12 March 2019 - a Pound 12.0 million cash consideration was received upfront with the outstanding Pound 6.0 million to be paid in September 2019

o Free cash flow⁵ of Pound 18.8 million and adjusted net debt⁶ of Pound 274.8 million (compared to Pound 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 KPIs^8,9 year-on-year:

o Average Active Customers per Month^8,9 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 Month^8,9 grew to Pound 25.7 million, an increase of 12% year-on-year

o Monthly Real Money Gaming Revenue per Average Active Customer^8,9 of Pound 106, an increase of 4% year-on-year

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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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