Gross gaming revenue of €4,314m, down 1.3%
Revenue of €1,782m, down 4.5%,
impacted by gaming taxes increases
Recurring EBITDA margin of 22.7% in line with annual target
Boulogne-Billancourt (France), 29 July (6:00 p.m.) – FDJ UNITED, a leader in betting and gaming in Europe, announces its results for the first half of 2026.
- French lottery and retail sports betting BU: gross gaming revenue (GGR) of €3,429m (-2.0%) and revenue of €1,240m (-3.9%)
- The lottery reported a 2.1% decline in GGR in the first half of the year, to €2,979m, and a 4.0% decline in revenue, to €1,022m. This underperformance is due to the significantly lower number and amounts of major Euromillions jackpots compared to 2025 and, in the second quarter, lower traffic at points of sale, largely due to exceptional heatwaves
- Excluding long Euromillions cycles1 in the first half of the year, GGR for the lottery rose by 1.0% and for the online lottery by 6.0%
- In the second half, the Group is rolling out a sales action plan to support the lottery business. Furthermore, as part of its medium-term strategy, it continues to invest in refreshing its game offering and driving innovation, including in 2027 the relaunch of Euromillions and Loto and the launch of a new €10 instant game, efforts to enhance the appeal of its digital offering and the continued expansion of under banners points of sale
- The performance of point-of-sale sports betting improved in the second quarter, driven by a more attractive offering than in the first quarter. In the first half of the year, GGR and revenue declined by 1.1% to €450m and 2.9% to €218m, respectively
- Online betting and gaming BU – performance in line with expectations: GGR stable at €702m, while revenue declined by 7.4% to €431m
- Excluding the Netherlands and the United Kingdom, GGR rose 6.6% and revenue increased 0.6%, driven in particular by a strong performance in France and Scandinavia
- In the Netherlands, business continued to improve despite a persistently challenging environment. Compared with 2025, the 15.0% decline in GGR in the first quarter was significantly
reduced to 4.1% in the second quarter. In the United Kingdom, as expected, the situation remains difficult, and the ongoing actions plan will begin to yield results by the end of 2026 - The new management team is committed to implementing the action plans designed to gradually restore performance, in particular by prioritising marketing investments and optimising player experience.
- Strong performance for the FIFA World Cup (June 11 – July 19): stakes over €700m for the Group and high payout ratio to players, in line with forecasts
- Recurring EBITDA of €404m, a 22.7% margin
- In addition to the decline in variable costs in line with business activity, the implementation of the performance plan helped reduce the Group’s fixed costs by 2.8%
- Adjusted net profit of €180m, impacted by the exceptional tax contribution on the profits of large companies for €20m.
- A very solid balance sheet, with net financial debt of €1,964m; Moody’s Baa1 rating confirmed
- The Group continues to optimize its resource allocation. In this context, it has launched a review of its market portfolio within Online betting and gaming BU, as well as non-core assets, notably within the Payment and Services BU
- For the 2026 financial, FDJ UNITED:
- is now targeting a stable GGR, both in the French lottery and retail sports betting BU and the Online betting and gaming BU, and a low single-digit decline in revenue
- and confirms
- a recurring EBITDA margin that remains between 23% and 24%, thanks to continued
implementation of the performance plan launched in 2025 – in line with its multi-year objectives – and enhanced financial discipline that safeguards growth investments - an annual increase in the dividend, based on a payout ratio of at least 75% of adjusted net profit
- a recurring EBITDA margin that remains between 23% and 24%, thanks to continued
