Banijay Group NV
AEX:BNJ
Banijay Group NV
FL Entertainment NV is a holding company, which engages in the provision of content production and online sports betting platform. The company is headquartered in Paris, Ile-De-France and currently employs 4,551 full-time employees. The company went IPO on 2022-07-01. The firm provides online platform for digital entertainment content production and sports betting in Europe through its two business segments, Banijay and Betclic Everest Group. The Banijay Group creates, develops, sells, produces and distributes television formats and programs, and digital content for a wide range of customers. The company produces both scripted and non-scripted content across all genres, including reality shows, entertainment and talk shows, game shows, factual entertainment, documentary, drama and comedy. Betclic Everest Group offers gaming and online sports betting. Its online gaming offering comprises casino, poker, games and virtual sports. The Company’s four main geographies are France, Portugal, Poland, Germany and Italy.
FL Entertainment NV is a holding company, which engages in the provision of content production and online sports betting platform. The company is headquartered in Paris, Ile-De-France and currently employs 4,551 full-time employees. The company went IPO on 2022-07-01. The firm provides online platform for digital entertainment content production and sports betting in Europe through its two business segments, Banijay and Betclic Everest Group. The Banijay Group creates, develops, sells, produces and distributes television formats and programs, and digital content for a wide range of customers. The company produces both scripted and non-scripted content across all genres, including reality shows, entertainment and talk shows, game shows, factual entertainment, documentary, drama and comedy. Betclic Everest Group offers gaming and online sports betting. Its online gaming offering comprises casino, poker, games and virtual sports. The Company’s four main geographies are France, Portugal, Poland, Germany and Italy.
Revenue Growth: FL Entertainment reported Q1 2023 group revenue up by 1.1%, with strong activity in online sports betting and a return to normal seasonality in content production.
Segment Performance: Online sports betting and gaming revenues jumped 14.5%, driven by a 42% surge in unique active players after the World Cup, while content production revenue fell just over 3% due to tough COVID-related comparables.
Profitability: Adjusted EBITDA was essentially flat, and adjusted net income rose 5.3% to EUR 70 million.
Cash Generation: Strong cash conversion continued, with adjusted free cash flow hitting EUR 119 million and stable financial leverage at 3.1x.
Guidance Reconfirmed: Management reaffirmed 2023 guidance for mid-single-digit growth in content production and double-digit growth in betting, with group adjusted EBITDA target of around EUR 710 million.
M&A and Refinancing: The company completed a significant debt refinancing, raising close to EUR 1.1 billion and extending maturities, and sees favorable conditions for further M&A.
Streaming Momentum: Content distribution to streaming platforms remains a growth driver, with notable successes in both scripted and unscripted formats.
