La Française des Jeux : French lottery group FDJ says lockdown knocked 100 million euros off earnings
Regulatory News:
FDJ: Combined General Meeting of 18 June 2020
BOULOGNE-BILLANCOURT, France--(BUSINESS WIRE)--Regulatory News:
The Combined Ordinary and Extraordinary General Meeting of FDJ (Paris:FDJ) met behind closed doors this Thursday 18 June, chaired by Stéphane Pallez, Chairwoman and CEO of the Group. Shareholders were able to cast their votes by correspondence, by proxy or via the secure Votaccess platform.
The General Meeting adopted all1 of the resolutions put to the vote of shareholders, including:
- The inscription of FDJ’s “raison d’être” (purpose) in the introduction to the company’s Articles of Association;
- Approval of the parent company and consolidated financial statements for the 2019 financial year and all of the financial resolutions;
- The allocation of the profit for the year ended 31 December 2019 and the payment of a dividend of 0.45 euros per share;
- The appointment of Predica, represented by Ms. Françoise Debrus, as an independent director within the meaning of the criteria of the Afep-Medef Code;
- The appointment of a director representing employee shareholders, in the person of Mr. David Chianese; and
- The items of compensation for the 2019 financial year and the 2020 compensation policy for corporate officers.
In 2021, the FDJ Group’s General Meeting will be held on 27 April.
About La Française des Jeux (FDJ Group)
France’s national lottery and leading gaming operator, the #2 lottery in Europe and #4 worldwide, FDJ offers secure, enjoyable and responsible gaming to the general public in the form of lottery games (draws and instant games) and sports betting (ParionsSport), available from physical outlets and online. FDJ’s performance is driven by a portfolio of iconic and recent brands, the #1 local sales network in France, a growing market, recurring investment and a strategy of innovation to make its offering and distribution more attractive with an enhanced gaming experience.
FDJ Group is listed on the Euronext Paris regulated market (Compartment A – FDJ.PA) and is included in the SBF 120 and STOXX Europe 600 indices.
For further information, www.groupefdj.com
1 Excluding resolution 7, bearing on a director representing employees, but which was an alternative proposal to resolution 6, which was adopted.
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La Française des Jeux (FDJ) (Paris:FDJ), France’s leading gaming operator, will issue an update on its activity and the impact of the Covid-19 crisis at its General Meeting to be held behind closed doors at 3:00 p.m. today.
At this time, FDJ confirms:
- 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 lockdown, a gradual resumption of activity, notably with:
- 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.
FDJ’s Combined General Meeting (ordinary and extraordinary) will be broadcast live on the company’s website (www.groupefdj.com – “Individual shareholders”/”General Meetings” section).
The Group’s next financial communication
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.
About La Française des Jeux (FDJ Group)
France’s national lottery and leading gaming operator, the #2 lottery in Europe and #4 worldwide, FDJ offers secure, enjoyable and responsible gaming to the general public in the form of lottery games (draws and instant games) and sports betting (ParionsSport), available from physical outlets and online. FDJ’s performance is driven by a portfolio of iconic and recent brands, the #1 local sales network in France, a growing market, recurring investment and a strategy of innovation to make its offering and distribution more attractive with an enhanced gaming experience.
FDJ Group is listed on the Euronext Paris regulated market (Compartment A – FDJ.PA) and is included in the SBF 120 and STOXX Europe 600 indices.
For further information, www.groupefdj.com.
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