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    FLTR   IE00BWT6H894

FLUTTER ENTERTAINMENT PLC

(FLTR)
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Flutter Entertainment 1st Half Pretax Profit Soared

08/10/2021 | 02:46am EST

By Ian Walker and Jaime Llinares Taboada

Flutter Entertainment PLC on Tuesday reported that its pretax profit more than tripled in the first half of the year, and said that performance exceeded internal expectations.

Flutter--which also owns the PokerStars, Paddy Power and Betfair brands--made a pretax profit of 77 million pounds ($106.6 million) for the half year ended June 30, compared with GBP24 million a year earlier.

Revenue rose to GBP3.05 billion from GBP1.54 billion, it said.

Adjusted earnings before interest, taxes, depreciation and amortization--one of the company's preferred metrics, which strips out exceptional and other one-off items--was GBP597 million, up from GBP342 million for the first half of 2020.

The Dublin-based betting and gambling company said it will review its dividend policy once it achieves its leverage targets. The board suspended dividends in March last year to preserve cash during the coronavirus pandemic.

Flutter said it expects to achieve an adjusted Ebitda of GBP1.27 billion-GBP1.37 billion for the full year excluding its U.S. business. It also said that in the U.S. it expects to generate revenue of GBP1.29 billion-GBP1.43 billion and book an adjusted Ebitda loss of GBP225 million-GBP275 million.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

08-10-21 0245ET

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Financials
Sales 2021 7 050 M 7 947 M 7 947 M
Net income 2021 -32,0 M -36,1 M -36,1 M
Net Debt 2021 3 054 M 3 442 M 3 442 M
P/E ratio 2021 -322x
Yield 2021 0,13%
Capitalization 22 712 M 25 530 M 25 600 M
EV / Sales 2021 3,65x
EV / Sales 2022 3,23x
Nbr of Employees 14 802
Free-Float 95,7%
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Mean consensus BUY
Number of Analysts 23
Last Close Price 129,90 €
Average target price 238,94 €
Spread / Average Target 83,9%
EPS Revisions
Managers and Directors
Jeremy Peter Jackson Chief Executive Officer & Director
Jonathan Stanley Hill Chief Financial Officer & Director
Gary W. McGann Non-Executive Chairman
Zillah Ellen Byng-Thorne Independent Non-Executive Director
Michael Cawley Independent Non-Executive Director
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