Jumbo Interactive (JIN) AGM 2024 summary

Opening remarks and agenda

• Chair welcomed attendees to the hybrid AGM, acknowledged traditional owners in Australia and Canada, and introduced board members and executives present, including the Company Secretary and auditor representatives.

• Recognition of the company's 25-year history and evolution from e-commerce to digital lottery services.

• Meeting was declared open with a quorum present, and procedures for questions and voting were explained for both in-person and online participants.

Financial performance review

• FY24 was the most successful year to date, with group TTV and revenue up 24% and 34%, and underlying earnings and profit up about 30%.

• Revenue reached $159M in FY24, with a 20% CAGR over five years; EBITDA grew at 13% CAGR, and operating cash flow at 9% CAGR.

• Free cash flow rose 14% to $54.1M, and a record fully franked dividend of AUD 0.545 per share was delivered, up 27% from the prior year.

• Over AUD 1 billion in annual ticket sales was achieved for the first time, with over 4 million active players and more than 15,000 not-for-profits supported.

• Digital penetration in Australia reached 41%, still below other countries, indicating room for growth.

Board and executive committee updates

• Board includes Susan Forrester (Chair), Mike Veverka (CEO/Founder), three independent non-executive directors, and a new director appointed in September 2024 pending shareholder confirmation.

• Michael Malone was proposed and recommended for appointment to the board, bringing significant entrepreneurial and cyber expertise.

• Sharon Christensen sought re-election, highlighting her governance and digital transformation experience.

• Jatin Khosla was promoted to CFO, and new regional leaders were appointed in the UK and Canada.

• The board continues to review its skills matrix and succession planning, with ongoing consideration for future board growth.