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

Chris Fenech – newly appointed CFO of IZI Group plc

Last Updated on Friday, 1 March, 2024 at 10:22 am by Andre Camilleri

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.

- Advertisement -