Pollard Banknote Limited recently issued information regarding its financial performance over the fourth quarter of its 2019 fiscal year. In addition to that, the leading lottery company shed more light on the figures associated with the entire fiscal year ending December 31, 2019. When all was said and done, the past twelve months of operation have been positive ones for the lottery leader.
John Pollard, Co-Chief Executive Officer, stated that the year 2019 has been an especially successful one for the company, as many new projects have launched. It also saw the renewal of crucial partnerships with the provincial lottery corporations, warranting the continued growth and support of the Canadian lottery gaming field. These extensions amount to five years, covering the foreseeable gaming future.
Growth towards Something Better
The revenue generated over the entire 2019 fiscal year reached nearly CA$400 million, marking a substantial growth when compared to the previous fiscal year. In addition to that, the earnings have also swollen, as the net income amounted to CA$22 million once again proving the success rates of Pollard Banknote over fiscal 2019. Both lottery and charitable organizations appeared to be drawn to the company.
This preference has been reflected in the financial performance throughout the twelve months of operation. The adjusted EBITDA is another fragment that should be taken into account when evaluating the annual performance of the lottery products provider. It managed to reach a record amount over fiscal 2019, amounting to CA$54.8 million once the year came to its end on December 31, 2019.
Another thing to be taken into account is a record when it comes to the free cashflow generated. It amounted to some CA$52 million, never before seen figure in Pollard Banknote’s operation. Mr. Pollard also pointed out that the company is willing to remain a leader on a regional level during the 2020 fiscal year as well, and this would be possible thanks to the paved way.
2020 Brings More Employees
Moreover, the past fiscal year saw the long-anticipated acquisition of Fastrak Retail Limited, the second specialized lottery merchandising company for Pollard Banknote. The acquisition took place at the very beginning of May 2019 and guaranteed a successful year of lottery production. The UK-based lottery ticket dispensers provider closely supports the Canadian company in order to diversify the local field.
Over the years the company has worked with the UK National Lottery, the Irish Lottery, and more. Charitable gaming is also a niche that sees growth of popularity, as more people feel drawn towards this gaming opportunity. Another acquisition that should be noted was the Diamond Game one in August 2019. The subsidiary company that has been in operation ever since 1994 takes care of the lottery tickets of many lotteries across the US, as well as across Class II Native American casino locations.
As a result of their collaboration, egaming machines’ number has grown to 2,900 devices in total. The fourth quarter of the fiscal year was also a successful one, as it saw revenue of CA$100 million, a growth driven by the popular Scratch FX lottery products. The gross profit of Q4 2019 saw a positive change to CA$22 million. This year is expected to see capacity expansion, as well as more staff members joining the team.