We today announced our half year results for FY23, a winning start for The Lottery Corporation as an ASX-listed company.
From 1 July to 31 December 2022, group revenue of $1,920.2m was up 7.7% on the prior corresponding period on a comparable basis¹ while Group EBITDA before significant items of $409.4m was up 15.8% on a comparable basis¹.
In terms of our two business segments, Lotteries EBITDA was $349.6 million, up 11.9%, while Keno EBITDA was $59.8 million, up 45.9%.
“I’m pleased to say we’ve made a winning start as an ASX-listed company, continuing the momentum that the business has created in recent years,” Managing Director and CEO Sue van der Merwe said.
“This result shows we’ve delivered strong earnings growth once more, driven by a healthy and balanced game portfolio and growth in our retail and digital channels.”
The Lott welcomed 221,000 registered customers in the past six months, taking our total to more than 4.3 million.
We’ve also made the popular Store Syndicates available online, a leading innovation in the lotteries category, and continued our investment in more personalised and efficient marketing and supported growth in Keno and Instant Scratch-Its through activity that encouraged a return to pre-COVID retail purchasing behaviours.
The Lottery Corporation announced its first interim dividend of 8.0 cents per share and a special dividend of 1.0 cent per share – both fully franked.
“We’re committed to continuing to offer exciting games that not only deliver life-changing wins to our customers but make a meaningful difference in the community,” Sue said.
See our investor section for more information.
¹To enhance comparability between 1H23 and 1H22 and to provide more insight into the underlying performance of the business, equivalent financial information has also been included, referred to as “Comparable” results. The Comparable results are stated before significant items and include the earnings from the operational trading of Keno for the periods prior to the date of acquisition by The Lottery Corporation. They also include additional amortisation associated with the fair value uplift to licences upon the acquisition of Keno, as if the acquisition had taken place at the beginning of the corresponding period. The Comparable results for 1H22 also include the estimated ongoing incremental cash corporate and operating costs associated with the demerger from Tabcorp Holdings Limited (which took effect in June 2022). Comparable results is ‘non-IFRS’ information and has not been subject to audit or review assurance procedures.
