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Highlights:
- Lottery giant Jumbo has announced its unaudited, preliminary FY22 results on the ASX today.
- The company is expecting to deliver a revenue worth AU$103.8 million in FY22.
- The company's official and audited financial statement for FY22 is expected to be released on 26 August 2022.
Internet lottery and gaming company Jumbo Interactive Limited (ASX:JIN) shared an update stating its preliminary FY22 financial results on the ASX today. Followed by the announcement, Jumbo shares have plunged on the ASX today. At 11:48 AM AEST, Jumbo shares were trading 12.914% lower at AU$12.610 apiece.
The company is expected to release its official earnings report on 26 August 2022 after a thorough external audit.
Details of Jumbo's initial FY22 updates:
In its unofficial FY22 earnings update, Jumbo has reported that domestic jackpot environment was 43 Powerball/OzLotto jackpots greater than or equal to AU$15 million, compared to 38 in the previous corresponding period (FY21). Furthermore, the average value of these jackpots was up by almost 28% in FY22.
The board of Jumbo revealed that the company benefitted from a Powerball jackpot worth AU$120 million in February 2022. It was the first jackpot over AU$100 million since September 2019. However, jackpot activity in the following months of March and April 2022 was relatively lower. The higher jackpots were worth AU$20 million. Again, in May and June, jackpots increased to AU$80 million and AU$60 million.
A summary of Jumbo's unaudited earnings in FY22:
Jumbo is expecting to deliver the following earnings report for FY22:
- In FY22, Jumbo expects its Time to Value (TTV) to have grown by 36% to AU$660.1 million from its previous corresponding period.
- The revenue of Jumbo in FY22 might be up by 27% to AU$103.8 million from its previous corresponding period.
- Jumbo's underlying EBITDA in FY22 could be up by 14% to AU$54.0 million compared to its previous corresponding period.
- Lastly, Jumbo is expecting its underlying NPAT to grow by 16% from its previous corresponding period to AU$31.6 million in FY22.
Image source: © Jirsak | Megapixl.com
Summary of Jumbo's share price performance on the ASX:
The overview of Jumbo's share price movement on the ASX paints a disappointing picture for us. In a span of a year, Jumbo's share price has lost more than 26% on the ASX. Moreover, on a Y-T-D basis, Jumbo's share price has gone down more than 35% (as of 11:53 AM AEST on the ASX today, 15 July).
