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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