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FL Entertainment: Positive trading update & 2022 guidance confirmed. Exploring new financing options

FL Entertainment
FL Entertainment

Press Release

Paris January 10th, 2023

Positive trading update & 2022 guidance confirmed

Exploring new financing options

TRADING UPDATE

FL Entertainment, a global digital entertainment group, has enjoyed strong momentum across its two business lines throughout 2022.

Content production & distribution saw a 25% increase in the number of hours in its content catalog over 9M 2022. It has also successfully completed 12 bolt-on acquisitions of highly-reputable production companies, both for non-scripted and scripted content. This strategy creates economies of scale, expands its geographic footprint and contributes to improved long-term performance.

Online sports betting & gaming continues to perform well, driven by the appeal of Betclic’s digital platform. This was confirmed during the World Cup 2022 where Betclic registered high double-digit growth in stakes versus Euro2020. During 2022, Unique Active Players (UAP) also increased considerably compared to 2021. Those solid trends are expected to contribute to the Group’s continued growth in 2023.

CONFIRMATION OF 2022 GUIDANCE
Thanks to the positive momentum observed during the year, combined with the Group’s leading positions in attractive and growing segments of the entertainment industry, FL Entertainment reconfirms its 2022 guidance.

EXPLORING NEW FINANCING OPTIONS

As a listed entity, FL Entertainment is constantly reviewing capital markets opportunities that contribute to the diversification of the Company’s sources of funding, strengthen its capital structure and provide balance sheet flexibility for the execution of its strategy.

In this context, the company is currently assessing a potential convertible bond financing, subject to market conditions.

As indicated at the time of its listing, FL Entertainment also aims to expand its free float and stock liquidity over time. This could include orderly sell-downs by some of its shareholders as the first lock-up just expired in January 2023.

*****

This press release and related documents are available on the Group’s website, in the “Investor relations” section: https://fl-entertainment.com/investor-relations/


Agenda
FY 2022 results: 16 March 2023


Investor Relations

Caroline Cohen – Phone: +33 1 44 95 23 34 – c.cohen@flentertainment.com

Press Relations

Anne-France Malrieu - afmalrieu@image7.fr

About FL Entertainment

Founded by Stéphane Courbit, a 30-year entertainment industry pioneer and entrepreneur, FL Entertainment Group is a global leader in multimedia content and gambling, combining the strengths of Banijay, the world’s largest independent producer distributor, with Betclic Everest Group, the fastest-growing online sports betting platform in Europe. In 2021, FL Entertainment recorded through Banijay and Betclic Everest Group, a combined revenue, and adjusted EBITDA, of €3.5bn and €609m respectively. FL Entertainment listed on Euronext Amsterdam in July 2022.
ISIN: NL0015000X07 - Bloomberg: FLE NA - Reuters: FLE.AS

Forward-looking statements
This communication contains information that qualifies as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

Forward Looking Statements
Some statements in this press release may be considered “forward-looking statements”. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that may occur in the future. These forward-looking statements involve known and unknown risks, uncertainties and other factors that are outside of our control and impossible to predict and may cause actual results to differ materially from any future results expressed or implied. These forward-looking statements are based on current expectations, estimates, forecasts, analyses and projections about the industry in which we operate and management's beliefs and assumptions about possible future events. You are cautioned not to put undue reliance on these forward-looking statements, which only express views as at the date of this press release and are neither predictions nor guarantees of possible future events or circumstances.
We do not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities law.

Alternative performance measures
The financial information in this release includes non-IFRS financial measures and ratios (e.g. non-IFRS metrics, such as adjusted EBITDA) that are not recognized as measures of financial performance or liquidity under IFRS. The non-IFRS financial measures presented are measures used by management to monitor the underlying performance of the business and operations and, have therefore not been audited or reviewed. Furthermore, they may not be indicative of the historical operating results, nor are they meant to be predictive of future results. These non-IFRS measures are presented because they are considered important supplementary measurements of FL Entertainment N.V.'s (the "Company") performance, and we believe that these and similar measures are widely used in the industry in which the Company operates as a way to evaluate a company’s operating performance and liquidity. Not all companies calculate non-IFRS financial measures in the same manner or on a consistent basis. As a result, these measures and ratios may not be comparable to measures used by other companies under the same or similar names. Further information on the non-IFRS measures can be found in our [reference to report].

Disclaimer
Not for distribution in the United States, Australia, Canada or Japan. The distribution of this press release in certain jurisdictions may be restricted by law. Persons who come into possession of this document are required to inquire about, and comply with, potential local restrictions. This document does not constitute an offer, or an invitation to apply for, or an offer or invitation to purchase or subscribe for any securities either in the United States or in any other jurisdiction. Securities may not be offered, sold or delivered within the United States, unless they are registered or exempt from registration under the U.S. Securities Act of 1933, as amended. FL Entertainment does not intend to register the offer detailed in the press release, in whole or in part, in the United States, and nor does it intend to carry out any public offer in the United States.


Regulated information related to this press release is available on the website:
https://fl-entertainment.com/investor-relations/
https://fl-entertainment.com/

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