Flutter reported soft FY 19 numbers – missing estimates on the top-line as well as the bottom-line. Sales were up 9% to £2.14bn, while EBITDA came in at £385m, with the margin contracting 6pp to 18%. However, the board maintained the dividend at 200p/share. For FY 20, management expects the US operations to report a loss similar to FY 19 (£-41m EBITDA). Following the softer than expected showing, we will be revising our estimates downwards.
02 Mar 2020
FY19: online unimpressive even as the US and Australia end on a high!
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FY19: online unimpressive even as the US and Australia end on a high!
Flutter Entertainment Plc (FLTR:LON) | 14,770 738.5 0.0% | Mkt Cap: 26,209m
- Published:
02 Mar 2020 -
Author:
Virendra Chauhan -
Pages:
4
Flutter reported soft FY 19 numbers – missing estimates on the top-line as well as the bottom-line. Sales were up 9% to £2.14bn, while EBITDA came in at £385m, with the margin contracting 6pp to 18%. However, the board maintained the dividend at 200p/share. For FY 20, management expects the US operations to report a loss similar to FY 19 (£-41m EBITDA). Following the softer than expected showing, we will be revising our estimates downwards.