Jumbo Interactive: FY23 result - Cost discipline is not a matter of luck

About the author:

Author name:

By Alexander Mees

Job title:

Co-Head of Research and Senior Analyst

Date posted:

28 August 2023, 7:00 AM

Sectors Covered:

Gaming and Retail

• Jumbo Interactive's (ASX:JIN) FY23 earnings were in line with our expectations. EBITDA of $58.9m was close to our estimate of $58.7m. Underlying NPAT of $33.1m was 2% above forecast.
• We have lowered our FY24F EBITDA by 6.8% to reflect a lower TTV assumption. Our EBITDA margin forecast is at the lower end of the 48-50% guidance range.
• We have an ADD rating and (login to view) target price.

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