The Stars Group reveals key financial growth in Q2

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The Stars Group reveals key financial growth in Q2

Postby The Fox » Thu Aug 10, 2017 3:20 pm

The Stars Group reveals key financial growth in Q2

10 August 2017
The Stars Group, formerly known as Amaya, has reported widespread, year-on-year growth across key financials for the three months to June 30.

Total revenue in the second quarter came in at $305.3m (€260m), up 6.8% on the $285.8m achieved in the corresponding period last year.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) increased 12.8% year-on-year to €146.5m, while net earnings rocketed 213.3% to $70.5m and adjusted net earnings hiked 27.1% to $114m.

In addition, diluted earnings per common share increased 199% to $0.35, while adjusted net earnings per diluted share jumped 22% to $0.56.

The company’s positive performance in the second quarter means that revenue for the six months to June 30 amounted to $622.6m, 8.4% more than at the same point last year.

Adjusted EBITDA for the first half was also up 17.5% to $297.5m, while adjusted cash flow from operations jumped 96.6% to $226m.

Meanwhile, net earnings hiked 74.7% to $136.2m and adjusted net earnings climbed 30.2% to $227.4m, while diluted earnings per common share increased by 64.1% to $0.67 and adjusted net earnings per diluted share jumped 23% to $1.13.

Rafi Ashkenazi, chief executive of The Stars Group, said: “Our evolution and transformation into The Stars Group continued as we completed our name change and head office move, while our second quarter saw the strengthening of our core senior management team and continued solid revenue growth led by our real money online casino offering.

“We plan to use this momentum to continue improving and strengthening our business and pursuing our strategic objectives."

The latest results posting is the first since the company rebranded from Amaya to The Stars Group.
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