La Française des Jeux : H1 2020 results significantly above our expectations - Encouraging tone on the resumption of activity
>H1 results above our expectations, very sound financial position - FDJ posted strong H1 2020 results, above our expectations. Stakes totalled € 6,898m (ODDO BHF € 6,533m), down 18.1%, including greater resilience in lottery (-12.6%) and a bigger decline in sports betting (-38.8%) linked to the temporary stoppage of sporting competitions. This implies a 32% drop in Q2 (ODDO BHF estimate -41%). Revenue amounted to € 849m, i.e. 5% above our estimate (ODDO BHF € 808m), d...La Francaise des Jeux is a France-based semi-public company that operates lottery and online games. The Company operates under the commercial brand name, FDJ, and provides scratch games, sports betting and draw games via a network of 35,800 points of sale (as of December 31, 2010), including LOTO points of sale, tobacconists and newsagents. The Company's scratch games include 1, 2 and 3 euros games; sports betting include the brand names, ParionsSport and ParionsWeb; and draw-based games include LOTO, Euro Millions, Rapido, Keno and others. The Company is also active in the online poker market with the website Barrierepoker.fr, which is jointly-owned with Groupe Lucien Barriere. The Company owns various subsidiaries, including Pacifique des Jeux and FDJ Developpement for the distribution in French overseas territory; Societe de Gestion de l'Echappee, which manages the Company-sponsored professional cycling team; Francaise de Motivation, Francaise d'Images, Lotsys and LVS.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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