Jumbo Interactive 2012 Half Year Report
Feb 21, 2013
- TTV up 23% to $59 million driven by strong jackpots and growing customer database (1.52 million at 31 December 2012)
- Revenue up 14% to $13.4 million EBITDA $4.3 million and NPAT $2.5 million after revised treatment of customer acquisition costs
- On a like-for-like basis, EBITDA up 10% to $5.7 million and NPAT $3.3 million after $1.0 million expansion expenses which resulted in USA JV and Mexico agreements
- Strong cash position of $16.0 million as at 31 Decmeber 2012 after spending $2.8 million on overseas investments (total cash $23.1 million less customer funds $7.1 million)
Leading interactive lottery business, Jumbo Interactive (ASX: JIN), is pleased to announce that half year Total Transaction Value (TTV) of ticket sales is up 23% to $59.3 and Revenue is up 14% to $13.4 million driven by strong jackpots and a growing customer database.
“It has been a busy six months for Jumbo with two new offshore agreements signed as well as delivering good growth in our domestic business. The global trend in the move to Internet lotteries continues to gather pace”, said Mr Mike Veverka, CEO of Jumbo Interactive Limited.
“The second half has continued where the first half left off with significant opportunities available to Jumbo”, he said.
During the period, Jumbo spent $1.0 million on international expansion activities that resulted in the signing of a landmark agreement in Mexico and a JV in USA. In addition, Jumbo also spent $1.4 million on customer acquisition costs that resulted in 140,000 new customers bringing the total to 1.52 million customers.
Previously, Jumbo capitalised these customer acquisition costs and amortised them over an 18 month period. From 1 July 2012, Jumbo expenses these costs as they are incurred. This revision does not affect Jumbo’s Net Cash Flows and will reduce the variance between reported Net Profit After Tax and Operating Cash Flows.