Last Updated on Wednesday, 23 October, 2024 at 12:40 pm by Andre Camilleri
Group announces exceptional Financial Results for FY2024, Marking a Year of Strong Growth and Innovation.
Through a statutory company announcement, the Board of Directors of IZI Finance plc, announced the audited financial results of the Group for FY2024, highlighting a year of remarkable financial performance and strategic success, across all its business activities. The Group, which is the principal land-based gaming operator in Malta operating the National Lottery and the Dragonara Casino amongst other activities, delivered exceptional growth in all key financial metrics, reinforcing its leading position in the market.
Driven by a focus on innovation and operational excellence, the Group has achieved significant milestones, including a 23% increase in turnover (FY2024: €569 Million), 24% increase in player winnings (FY2024: €481 Million) and a 25% increase in Gross Gaming Revenue (FY2024: €86.5 Million). The focus on revenue growth was complemented by a clear drive to optimise costs and improve margins, leading to a record EBITDA of €23.2 Million an increase of 68.2% on the previous year. This strong performance is a testament to the Group’s commitment to delivering value to its diverse customer base while maintaining a sharp focus on market trends and evolving consumer needs.
The results attained by the Group are underpinned by the strengthening of its corporate executive team, which has been instrumental in enhancing key strategic initiatives, such as reinforcing the Responsible Gaming framework and implementing a comprehensive Environmental, Social, and Governance (ESG) strategy. This approach ensures that IZI Group not only excels financially but also upholds its commitment to ethical business practices, sustainability, and social responsibility, crystallised by the attainment of the Responsible Gaming (RG) certification from the World Lottery Association (WLA) and European Lotteries (EL) and the recent award of the prestigious ISO/IEC 27001:2022 certification highlighting the company’s and Group’s commitment to operational excellence and information security.
Commenting on the results of IZI Group, Founder and Group CEO Johann Schembri was very positive about the achievements of the past year and the future outlook of the Group. “FY2024 has been a landmark year for IZI Group. Our customer-centric strategy, coupled with an unwavering focus on innovation, has enabled us to deliver exceptional results. By closely adapting to local market trends and the needs of our diverse customer base, we have consistently added value across all gaming product verticals. We remain dedicated to our core values of innovation, responsibility, and sustainability, confident that this foundation will support further growth in the years to come. Our sights are now set on the international replication of our local success story setting out the next milestone we will be aspiring for.”
The IZI Group is now planning to pursue and integrate international business development opportunities within its core strategy. The Group is looking forward to leveraging its extensive experience and portfolio in the local gaming market and its valuable established relationships in the industry, to replicate the local business models on developing international opportunities.
IZI Group’s FY2024 financial performance
