Pollard Banknote Ltd (TSX:PBL)

Q3 2025 Pollard Banknote Ltd Earnings Call Transcript

Nov 13, 2025 / 01:30 PM GMT

Release Date Price: C$18.53 (-7.35%)

Transcript

Key Points

Positve

Pollard Banknote Ltd (PBKOF) secured a significant 12-year contract with the National Lottery of Belgium, valued at approximately $289 million Canadian.
The company was named the primary contractor for the California State Lottery's instant ticket products, a contract valued at $375 million Canadian over 12 years.
Pollard Banknote Ltd (PBKOF) achieved record quarterly sales of $156.3 million, with combined sales including joint ventures reaching $187.3 million.
The demand for instant tickets remains strong, with higher selling price points contributing to increased revenue.
The company's Neo Pollard Interactive joint venture saw an increase in income, driven by strong sales growth in North Carolina and Virginia.

Negative

Gross profit decreased to $28.1 million, down from $31.4 million in the same quarter last year, primarily due to startup losses in Kansas and lower margins in Minnesota.
Administration expenses increased to $19.2 million, largely due to ERP implementation costs and additional expenses from acquisitions.
Net income decreased by $7.9 million compared to the previous year, impacted by lower gross profit and increased expenses.
The Kansas iLottery operation is currently a financial drag, though expected to improve in the future.
The company faces challenges in adapting to regulatory changes in Minnesota, affecting charitable gaming revenue.

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

PBL.TO - Pollard Banknote Ltd
Q3 2025 Pollard Banknote Ltd Earnings Call
Nov 13, 2025 / 01:30PM 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 3rd 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 risks 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 you can access these

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