H1 2025: FDJ United revenue up 30.7% after obtaining Kindred

FDJ United reported H1, 2025 results, with revenue of €1.87 billion, up 30.7% from the previous year. Pro-forma basis suffered a decline of 1,7%.

Pro-forma comparisons include revenue from Kindred Group, as it has been a part of FDJ since October 2024. The group projected stable revenue versus 2024 pro-forma numbers, and an EBIDTA margin above 24%. EBITDA for the period stood at €441 million, representing a 23.6% margin, or 24.4% excluding costs related to an employee share ownership plan.

Operator’s net income stood at €222 million, down 5.4% year-on-year, while net income declined sharply by 36.2% to €136 million due to higher financial costs and exceptional tax contributions.

The French lottery and retail sports betting business unit reported a revenue of €1.29 billion, up 3.6% in the restated figures. Retail sports betting revenue fell by 6.2%, despite increased stakes. Digital lottery rose to €160 million, up 15.8%, supported by 6 million active online players.

Online gambling and betting revenue fell to €466 million, a decline of 12%, mostly because of a tough comparison base in 2024, which included the Euro football tournament, and new tax and regulatory obligations in the UK and Netherlands. Revenue in these two markets fell by 24.1% and 43.5%. Without them, online revenues rose by 4.5%.

International lottery revenue dropped to €80 million, down 16.9%, partly because of the sale of Sporting Group and non-recurring factors in Ireland. The Payment & Services business unit remained stable, with revenue of €31 million and a slight EBITDA loss.

The group’s next financial update is scheduled for October 15.

Gaya Abrahamyan Content Creator

Covering a range of topics in the iGaming space, including news, interviews, and in-depth articles, my main focus is to keep things informative, clear, and genuinely interesting. With a degree in Cross-Cultural Communication, I write in a thoughtful, accessible tone that connects with both industry pros and interested newcomers.

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