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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