Full Year 2024 Lottery Corporation Ltd Earnings Call Transcript
Key Points
- Revenue increased by 13.8% to nearly $4 billion, showcasing strong financial performance.
- Active registered customer numbers grew by 500,000, reaching 4.75 million.
- Significant increase in jackpot game turnover by 26.7%, demonstrating the strength of the lottery business.
- Retail turnover grew by 6.6%, indicating robust performance in physical sales channels.
- Declared a special dividend of $0.025 per share in addition to a full-year ordinary dividend of $0.16 per share, reflecting strong shareholder returns.
- Base games experienced a decline of 2% to 4% on a like-for-like basis, indicating some areas of weakness.
- Group OpEx increased by $29 million, driven by separation costs and rising employment expenses.
- Depreciation and amortization rose by 10%, primarily due to separation spend.
- Keno online turnover decreased by 2.4%, impacted by online competition in Victoria.
- Inflation pressures, particularly in technology costs, are expected to continue affecting the cost base.
Good morning, and welcome to the Lottery Corporation results call for the 2023, '24 financial year. Your speakers today will be CEO, Sue van der Merwe; and Chief Financial Officer, Adam Newman. Following the presentation, we'll open the line for questions. I will now hand you to Sue.
Thank you, and good morning, all, and thanks for joining us. I'm exceptionally pleased to present a record result for the Lottery Corporation for FY24, a very successful year for our game portfolio, with revenue up 13.8% to just under $4 billion.
Active registered customer numbers up to 4.75 million. That's an uplift of 500,000 and growth across both digital and retail channels. We're delivering on our plan. We are actively managing the business, and we are seeing the results.
The FY24 result is a great example of our portfolio strategy, delivering with $771 million additional value in jackpot offers versus the prior period. We delivered a 26.7% increase in
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