Pollard Banknote records 9% Q4 revenue increase
For Q4, Pollard Banknote’s revenue came in at a company record $126.9m, a 9% increase on 2021. Meanwhile, its adjusted EBITDA was at $22.4m, up on the $18.7m it posted the year prior. Its lottery operations saw significant growth, taking $9.4m, compared to $4.7m in Q4 2021.
For the year, revenue saw 5% annual growth, totalling $482.3m. Furthermore, it posted an adjusted EBITDA of $80.5m, which is 4% down on 2021’s results. Also, its net income dropped 2% on 2021 to $19.3m.
However, the group also noted that its continuing investment in its iLottery platform and game content ‘positively situate us to take advantage of future iLottery opportunities.’
John Pollard, Co-CEO at Pollard Banknote, said of the results: “Our 2022 financial results reflect very strong sales and profits in almost all of our product offerings, particularly charitable gaming, eGaming systems and iLottery.
“However, this was offset by major challenges in our instant ticket business. Nevertheless, we still achieved record sales and strong income from operations, and adjusted EBITDA was only moderately reduced from 2021.
“Our 2022 combined sales exceeded $537m, a strong reflection of both the breadth of our product and solution offerings as well as their demand. Underlying all of these successes is our vision of continuing to help our lottery and charitable gaming partners grow and generate funds for good causes. Consumer demand remained very strong in most of our lines of business throughout 2022.”
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