La Française des Jeux (FDJ), France's leading gaming operator, analyzes its activity, the impact of the Covid-19 crisis and the gradual resumption of operations
FDJ published a press release highlighting the following::
- For the two months of lockdown in France, a total impact of close to €200 million on revenue and €100 million on EBITDA, corresponding to a drop of nearly 60% in stakes over the period;
- The implementation, from the start of the crisis, of the Group’s action plan aimed at saving more than €80 million, or more than 10% of its annual fixed costs, over the 2020 financial year as a whole;
- Its financial strength, with more than 800 million euros in short-term cash available at the end of May.
After confinement and total closure, FDJ announces a gradual resumption of activity, characterized by:
- Nearly all FDJ points of sale open to date;
- The resumption of sporting competitions, including most of the national football championships in Europe by the end of June. Matches are to resume in France and international championships in August; NBA competitions will start again late July;
- A resumption of the marketing of the Amigo game since 8 June across its entire network.
Given the changing nature of the situation, the estimates and forward-looking statement presented by FDJ cannot constitute either a forecast or a target. The Group is to report its half-yearly results on 29 July after the close of trading and will issue its new 2020 outlook as soon as possible.
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