Paris – January 10th, 2023
Positive trading update & 2022 guidance confirmed
Exploring new financing options
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/
FY 2022 results: 16 March 2023
Caroline Cohen – Phone: +33 1 44 95 23 34 – email@example.com
Anne-France Malrieu - firstname.lastname@example.org
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
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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].
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