FDJ warns of the fallout from coronavirus

US, WASHINGTON (ORDO NEWS) — FDJ warned on Friday that its financial results would be penalized by the coronavirus epidemic, in particular due to the containment measures implemented by the government which dissuade its customers from going to tobacco shops and cafes.

The group also feels the effects of the cancellation of sports competitions which has a direct impact on its betting activities.

FDJ anticipates a loss of turnover of around 120 million euros and an Ebitda (profit before taxes, taxes, depreciation and amortization) of around 50 million for its sports betting activities.

The group also postponed to June 30 the general meeting of its shareholders initially scheduled for April 22.

Since January 1, the stock has lost 22.35% of its value. The FDJ stock also posted a 5.1% decline since the group’s IPO on November 21.


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