Pollard Banknote Breaks Its Yearly Revenue Record In 2021

Pollard Banknote Limited, the lottery solutions provider based in Winnipeg, has released its financial data for 2021 and the figures show the company generated record-breaking revenue during the twelve months of the year.

The company’s revenue for 2021 amounted to 459 million Canadian dollars, more than it ever generated in its history that spans more than a century. In fact, Pollard Banknote was established all the way back in 1907, starting out as a commercial printing business. Then, in the 1970, the company made the move towards security printing and eventually into lotteries and iGaming.

The revenue in 2021 was 10.8 percent higher than in 2020, when the company attracted just 414.1 million Canadian dollars. However, the gross profit for the year was just 0.1 percent higher than in 2020, amounting to 91.1 million Canadian dollars. That was due to increased cost of sales, which amounted to 367.9 million canadian dollars, up 13.8 percent year-on-year.

The company’s administrative expenses also grew by 17.1 percent to 47.2 million Canadian dollars, while selling expenses went up by 19.8 percent to 17.5 million Canadian dollars. Equity measurement income resulted in a loss of 12.3 million dollars, 10.7 million dollars more than in 2020.

The company’s total pre-tax income was 27.1 million Canadian dollars, 41.2 percent less than what was recorded in 2020. The total net income for the year amounted to 19.7 million Canadian dollars, a decrease of 40.8 year-on-year.

For 2021, adjusted earnings before interest, tax, depreciation and amortization (EBITDA) came to 84 million Canadian dollars. Lotteries and charitable gaming made up 64.3 million Canadian dollars, 13.4 percent less than in 2020. But egaming systems generated 19.7 million Canadian dollars, a staggering increase of 207.8 percent year-on-year.

John Pollard, the co-Chief Executive Officer of Pollard Banknote, described 2021 as “a very successful year on a number of critical fronts”. Moreover, John Pollard revealed that the company expects to see “exceptional demand” from the customers continue in 2022.

At the beginning of 2021, Pollard Banknote announced that it has agreed to acquire Next Generation Lotteries AS, a leading provider of lottery management and iLottery technology. Next Generation Lotteries is leading a supplier to the lottery industry, providing retail lotto systems and iLottery platforms to several operators all around the world.

The company, which has its main headquarters in Vienna, Austria, was mainly focused on Europe and Asia, providing lottery solutions in various jurisdictions. Next Generation Lotteries purchased Novomatic Lottery Solutions from NOVOMATIC AG on October 31, 2019.

Source: . iGaming Business. March 10, 2022.