La Française des Jeux : Roadshow feedback (Europe/US): strategy unchanged after good H1 results
>H2 2022 outlook: a larger cost base vs H1 - In its H1 results, FDJ maintained its full-year 2022 guidance, namely revenue growth of c.5% and an EBITDA margin > 23.5%. The group expects its cost base to be higher in H2 than in H1 2022 (EBITDA margin of 25.4%, +130bp), as it will notably include an increase in the player payout ratio in sports betting around the Football World Cup (Q4) and higher marketing expenditure (including the rollout of a new visual identity sys...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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