IZI Finance Plc Announces Half Yearly Results

IZI Finance Plc Announces Half Yearly Results

Group registered 61% year-on-year EBITDAR growth.

Malta, 29th February 2024 – IZI Finance plc, the financing and holding company of IZI Group announced yesterday its half-yearly results for the period July – December 2023. The Group announced a 26% year-on-year revenue growth. The Group has seen an increase in revenue across all its business operations, most notably the National Lottery. The results which are in line with the Group’s expectations generated EBITDAR of €12.6 million for the 6-month period, an increase of 61% when compared to the same period last year.

The achievements obtained in the first half of FY2024, reflect a significant increase in revenue, brought about by the effectiveness of the strategic initiatives adopted, the robustness of the business model and the team’s unwavering commitment and dedication. This improved performance underlines the Group’s commitment to deliver value to its shareholders through its focus to grow revenues across all its business units. The Group is now entering into a new phase within which it will amplify its efforts to attain operational efficiency and cost management, with the aim to improve further the margins across its business units.

Commenting on the results obtained, the newly appointed Chief Financial Officer of the Group, Mr. Chris Fenech, said that the financial results are very encouraging and augur well for the remainder of the fiscal year. “The positive trajectory of our fiscal performance has garnered increased confidence in the Group’s prospects. Our efforts across the diverse business units have been well received by our customer base enabling us to strengthen our foundation and market position. We look forward to the implementation of various other initiatives in the coming months. Our focus continues to be on cost optimisation and efficiency, innovation through the deployment of new technology, customer satisfaction and driving long-term value for all stakeholders.

IZI Group is committed to providing unique gaming experiences in responsible and safe environments. We emphasize responsible gaming practices and encourage patrons to visit the Responsible Gaming Foundation at Responsible Gaming Foundation for support and information. All IZI Group plc operations are licensed by the Malta Gaming Authority under the Gaming Act Chapter 583 of the laws of Malta.