Acquisition of Kindred ‘opens a new chapter’ for FDJ with revenues up 17 per cent
As a result of integrating Kindred from 11 October, FDJ United, generated 2024 revenue of €3,065m, up 17 per cent.
Excluding Kindred, the increase was 10 per cent and six per cent for gaming activities in France alone. The company reported good performance by Kindred in 2024, in line with expectations: revenue of €918m and recurring EBITDA of €223m.
Compared with 2024 pro forma figures, the stability of revenue and the level of recurring EBITDA margin were due to a significant increase in taxes on betting and gaming: in France from 1 July, totalling nearly €45m, and in the Netherlands from January, totalling over €10m. The financial impact of tougher regulation implementation, mainly in the Netherlands, was partially offset by measures introduced by the Group, the gradual effect of which will reach at least €100m in the 2027 financial year, over half of which will concern the Online Betting and Gaming BU
The Group is also indicating its 2025 outlook, taking into account the impact of tax increases on betting and gaming, particularly in France, and the multi-year action plan put in place to offset this.
Stéphane Pallez, Chairwoman and Chief Executive Officer of FDJ UNITED, said: “FDJ UNITED achieved a very strong performance in 2024. Following the integration of Premier Lotteries Ireland and ZEturf in 2023, the acquisition of Kindred opens a new chapter, more international and more diversified, in the long history of our Group. With its position as a leader in betting and gaming in Europe, FDJ UNITED has a sturdy base from which to pursue its strategy of creating value for the benefit of all its stakeholders, in keeping with its business model that combines performance and responsibility.”
