From GlobeNewswire: 2024-05-15 11:40:00

FL Entertainment has rebranded to Banijay Group to mark itself as a top player in the entertainment industry. Q1 2024 showcases strong performance, with revenue up 10.6%, Adjusted EBITDA up 11.2%, and net income rising to €18.7m. Online sports betting & gaming saw revenue increase by 31%. Guidance for 2024 has been upgraded to low teens organic Adjusted EBITDA growth. Banijay Group’s CEO, François Riahi, highlights a 31% increase in revenue and a 24% increase in Unique Active Players in Online sports betting & gaming. In Content production & distribution, strong demand for formats and shows continues, setting the stage for growth expected in the second half of 2024. The Group’s rebranding as Banijay Group aims to position itself as the European entertainment leader. Investor relations will be actively communicated through a conference call on May 15, 2024, to discuss the Q1 2024 results. Key financials for Q1 2024 include revenue of €1,001.1 million, Adjusted EBITDA of €163.7 million, and a strong liquidity position of €434 million. Content production & distribution revenue saw a 3.1% increase, complimented by strong activity in online sports betting & gaming. The Group continues to expand and evolve, evident in the creation of CreAsia Studio for South-East Asia and re-pricing of Term Loan B. Banijay Entertainment was awarded “Distributor of the Year” by K7 Media, recognizing their achievements in producing new format launches. With optimism for the future, Banijay Group has upgraded its guidance for 2024 to low-teen organic Adjusted EBITDA growth, fueled by the positive momentum in Online sports betting & gaming and the upcoming major show deliveries in Content production & distribution.



Read more at GlobeNewswire:: Banijay Group: Q1 2024 results