Tabcorp Holdings Limited · ASX:TAH
Tabcorp — Shareholder Meeting (October 2023)
26 slides from Tabcorp's shareholder meeting presentation, Oct 25, 2023
Slide 1: Annual General Meeting addresses
25 October 2023 ASX Market Announcements Australian Securities Exchange 20 Bridge Street Sydney NSW 2000 Annual General Meeting addresses For personal use only Attached are the addresses and an accompanying presentation to be delivered by Bruce Akhurst, Chairman, and Adam Rytenskild, Managing Direct
Slide 2: Chairman's Address
Tabcorp Holdings Limited ABN 66 063 780 709 Annual General Meeting (AGM) 25 October 2023 CHAIRMAN AND CEO AGM ADDRESSES For personal use only CHAIRMAN’S ADDRESS Tabcorp’s 2023 financial year laid the foundations for our three year TAB25 strategy. This strategy is intended to set up the business to g
Slide 3: For personal use only
Policy settings were enhanced with level playing fields delivered in Queensland, Tasmania and the ACT. While Victoria will have a level playing field from the middle of next year – regardless of the licence outcome. Since Queensland implemented a level playing field in December 2022, there has been
Slide 4: For personal use only
We delivered disciplined cost management through our Genesis program, with group operating expenses largely consistent with FY22, and below prior guidance. Pleasingly, we delivered very disciplined cost control whilst improving our competitive position. Adam will talk more about our financial result
Slide 5: For personal use only
We have closed the product gaps – but during the next two years we want to become a product leader. We’ve stabilised market share – but in the next two years we intend to grow market share. We’ve got ROIC targets that when met will deliver greater returns to shareholders. We’re building a new cultur
Slide 6: For personal use only
The Board takes feedback from shareholders on remuneration matters seriously and following the outcome from today’s meeting will carefully consider this feedback as part of a review of remuneration arrangements going forward. In conclusion, FY23 was a successful first year of our three year TAB25 tr
Slide 7: Managing Director and CEO's Address
MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER’S ADDRESS Let me say from the outset that I am confident in our transformation. One year in I’m seeing what I need to see to know that our strategy is right. We are turning TAB into a compelling and growing brand again, Australia will be a level playing
Slide 8: For personal use only
TAB remains the only wagering operator in Australia with the complete wagering ecosystem. We connect digital, pubs, clubs and media into one community that gives customers the ultimate racing and sport entertainment experience. Part of that includes upgrading our retail venues, and we’re rolling out
Slide 9: For personal use only
While much of our focus is on transforming Wagering and Media, our Gaming Services business continues to perform well. We’re successfully pivoting to an integrity services model where we monitor gaming machines for the government, a critically important role in a tighter regulatory environment. And
Slide 10: For personal use only
There is too much gambling advertising on television and the community rightly expect more from their wagering operators. I will conclude where we started. We’re a transforming business. We’re moving faster and we have a laser focus on our TAB25 ambitions. Don’t take my word for it, judge us by our
Slide 11: Tabcorp AGM October 2023: We're Raising the Game
For personal use only TABCORP AGM 25 OCTOBER 2023 WE’RE RAISING THE GAME
Slide 12: Acknowledgement of Country
ACKNOWLEDGEMENT OF COUNTRY Tabcorp acknowledges the Wurundjeri People of the Kulin nation, the For personal use only traditional custodians of the land on which we meet today, and we pay our respects to their elders past and present. We also acknowledge the traditional custodians of the land on whic
Slide 13: Board of Directors
BOARD OF DIRECTORS For personal use only Bruce Akhurst Adam Rytenskild Janette Kendall Justin Milne Chairman and Managing Director and Non-Executive Director Non-Executive Director Non-Executive Director Chief Executive Officer Karen Stocks David Gallop Raelene Murphy Brett Chenoweth Non-Executive D
Slide 14: How to Vote
HOW TO VOTE 1. Click “Get a Voting Card” button For personal use only 2. Enter your Shareholder Number (SRN/HIN) or Proxy Number and click “Submit Details and Vote” 3. Select either “Full vote” or “Partial vote” 4. Complete your voting card 5. Click “Submit Vote” or “Submit Partial Vote” 4
Slide 15: How to Ask a Question
HOW TO ASK A QUESTION 1. Click “Ask a Question” button For personal use only 2. Enter your Shareholder Number (SRN/HIN) or Proxy Number if you have not already registered 3. Select the item of business from the drop down menu 4. Type your question in the space provided 5. Click “Submit question” 5
Slide 16: Chairman's Address
For personal use only ADDRESS CHAIRMAN’S 6
Slide 17: FY23: Year of Building Foundations
FY23: YEAR 1 BUILDING FOUNDATIONS For personal use only HIGHER REVENUE STRONG COST IMPROVED DIGITAL AND PROFIT PERFORMANCE COMPETITIVENESS Revenue $2,434m +2% Well controlled operating costs Successful new App launched, with before significant items of $618m 13 subsequent updates EBITDA $391m +8% Ge
Slide 18: Sustainability
SUSTAINABILITY CUSTOMER CONTRIBUTE TO OUR For personal use only CARE COMMUNITY New partnership with Mindway Significant financial contributor to AI using cutting edge technology the Australian racing industry to increase our customer care capability Supporting 4000 pubs, clubs and other venues to re
Slide 19: Chairman's Address Conclusion
CHAIRMAN’S ADDRESS CONCLUSION For personal use only 9
Slide 20: MD & CEO's Address
For personal use only ADDRESS MD & CEO’S 10
Slide 21: TAB25: Creating a Different Company
TAB25: CREATING A DIFFERENT COMPANY Reshaping the business to deliver For personal use only customers market leading offers, pricing, products and customer experience A SIMPLE, GROWING, MORE VALUABLE BUSINESS FOR SHAREHOLDERS 11 11
Slide 22: FY23 Result Summary
FY23 RESULT SUMMARY1 FY23 FY22 PF2 % FY22 STATUTORY EPS DIVIDEND4 For personal use only 2.9 CPS 2.3 CPS Revenue $2,434m $2,377m +2% $2,373m Opex $618m $627m -1% $600m EBITDA $391m $361m +8% $382m DIVIDEND PAYOUT RATIO4 ROIC5 60% 5.5% EBIT $150m $74m +103% $95m Statutory NPAT3 $67m N/A N/A $6,776m 1.
Slide 23: TAB25: Reshaping the Business for Growth
TAB25: RESHAPING THE BUSINESS FOR GROWTH WIN THE GAME SHAPE THE GAME CHANGE THE GAME For personal use only OUR STRATEGY Our FY25 Targets1 Grow core customer metrics with a key metric Level Playing Field on fees and taxes Targeted investments for accelerated & of 30% digital revenue market share dive
Slide 24: 1Q FY24 Trading
1Q FY24 TRADING For personal use only Group Revenue down 6.1% Wagering Turnover down 0.9% and Wagering & Media Revenue down 5.4% Digital Wagering Turnover up 1.0% and Digital Wagering Revenue down 3.9% Gaming Services Revenue down 12.7%, due to eBet sale and lower contracted EGMs 14
Slide 25: MD & CEO's Address Conclusion
MD & CEO’S ADDRESS CONCLUSION For personal use only 15
Slide 26: Disclaimer
DISCLAIMER This Presentation contains summary information about the current Neither Tabcorp nor any other person warrants or guarantees the Regulatory Guide 230: ‘Disclosing non-IFRS financial information’ activities of Tabcorp Holdings Limited (Tabcorp) and its subsidiaries future performance of Ta
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