Pollard Banknote Ltd (TSX:PBL)

Q1 2025 Pollard Banknote Ltd Earnings Call Transcript

May 8, 2025 / 12:30 PM GMT

Release Date Price: C$20.03 (-1.33%)

Transcript

Key Points

Positve

Pollard Banknote Ltd (PBKOF) achieved strong financial results in Q1 2025, with sales increasing to $146.2 million from $125.7 million in Q1 2024.
The successful implementation and startup of the Kansas iLottery solution marked the fastest rollout ever in North America, showcasing Pollard's expertise in complex technological solutions.
The Neop Pollard Interactive joint venture achieved record results, with strong sales of instant games, particularly in Virginia and North Carolina.
Pollard Banknote Ltd (PBKOF) successfully repriced a large majority of its instant ticket contracts, leading to higher average selling prices and improved margins.
The acquisition of Pacific Gaming expands Pollard's product portfolio in the charitable gaming market, particularly in handheld electronic bingo devices.

Negative

Instant ticket sales volumes decreased by $5.8 million compared to the prior year due to declining low-margin accounts.
Lower Michigan iLottery sales decreased revenue by $1.5 million, reflecting competition from private casino gaming operators.
Gross margin percentage remained similar to the previous year, with startup costs for the Kansas iLottery contract impacting margins negatively.
Administration expenses increased by $2 million due to higher compensation expenses and software licensing costs.
A regulatory change in Minnesota temporarily depressed charitable ETA revenue by $1.7 million.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PBL.TO - Pollard Banknote Ltd
Q1 2025 Pollard Banknote Ltd Earnings Call
May 08, 2025 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning everyone. Welcome to the Pollard Banknote Limited first quarter 2025 results conference call. Listeners are reminded that certain matters discussed in today's conference call or answers that may be given to questions asked could constitute forward-looking statements that are subject to risk and uncertainties related to Pollard's future financial or business performance.

Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements.

The risk factors that may affect the results are detailed in Pollard's annual information form and other periodic filings and registration statements, and

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