Tabcorp Holdings Limited · ASX:TAH
Tabcorp — Shareholder Meeting (October 2019)
24 slides from Tabcorp's shareholder meeting presentation, Oct 24, 2019
Slide 1: Tabcorp Holdings Limited 2019 Annual General Meeting
For personal use only TABCORP HOLDINGS LIMITED 2019 ANNUAL GENERAL MEETING 24 O CTOBER 2019 ABN 66 063 780 709
Slide 2: Chairman's Address
For personal use only CHAIRMAN’S ADDRESS
Slide 3: Tabcorp Today
TABCORP TODAY For personal use only OUR PURPOSE OUR VISION 3
Slide 4: FY19 Results
FY19 RESULTS For personal use only VS REPORTED PCP1,2 VS PRO-FORMA PCP FY19 DIVIDEND PER SHARE REVENUE $5,482.2M UP 45.9% UP 8.7% (FULLY FRANKED) EBITDA (CONTINUING OPERATIONS BEFORE SIGNIFICANT ITEMS) $1,064.7M UP 38.4% UP 7.6% NPAT (CONTINUING OPERATIONS BEFORE SIGNIFICANT ITEMS1,2) $397.6M UP 42.
Slide 5: Resetting the Lotteries & Keno Strategy
RESETTING THE LOTTERIES & KENO For personal use only S T R AT E G Y Reinvigorating the Australian lottery market and contributing to a record year Lotteries is an exciting business to work in. That jackpot feeling flows through everything we do and to know that we’re providing lifechanging experienc
Slide 6: Integrating and Transforming Our Wagering Business
I N T E G R AT I N G A N D TRANSFORMING OUR For personal use only WA G E R I N G B U S I N E S S We want to be ‘bigger than the bet’ with a differentiated market position. An iconic Australian racing and sports entertainment brand and the first choice for customers – the place where Australia comes
Slide 7: Integration
INTEGRATION SUCCESSFUL YEAR WITH SIGNIFICANT COST SAVINGS REALISED AHEAD OF PLAN For personal use only FY19 DELIVERY ABOVE TARGET REVISED AT MID-YEAR; FY21 TARGET NOW $130M-145M EBITDA EBITDA ($M) 130-145 35-50 90 EBITDA - Cost Synergies 64 15 EBITDA - Revenue Synergies 7 95 75 8 57 2 6 2H18 FY19 FY
Slide 8: Nearly $0.4bn... of FY19 Revenue Returned to Government, Racing Industry and Retail Partners
Employee costs Operating & other costs2 N E A R LY $0.4bn 70% For personal use only $1.1bn $0.4bn Shareholders $2.3bn OF FY19 REVENUE State & Federal RETURNED TO Government taxes $0.8bn G O V E R N M E N T, Retail partners RACING INDUSTRY $1.0bn A N D R E TA I L PA R T N E R S 1 Racing industry Note
Slide 9: Customer Care, Risk Management and Compliance Inform Our Decision Making
CUSTOMER CARE, RISK MANAGEMENT AND For personal use only COMPLIANCE INFORM OUR DECISION MAKING ACROSS ALL OUR OPERATIONS I’m proud to work for a trusted company that prides itself on doing the right thing. Maintaining a high standard of integrity and trust is at the heart of this organisation. Cathy
Slide 10: Enhancing Tabcorp's Remuneration Framework
ENHANCING TABCORP’S REMUNERATION FRAMEWORK For personal use only KEY CHANGES MADE TO TABCORP’S REMUNERATION ARRANGEMENTS o Benchmarking reset o Non Executive Director fees reset and frozen o Executive KMP remuneration not increased o MD & CEO maximum STI opportunity reduced for FY20 o New STI struc
Slide 11: Board Renewal and Succession Planning
BOARD RENEWAL AND SUCCESSION PLANNING For personal use only o Paula Dwyer is standing for re-election as a Director of Tabcorp at this meeting. If re-elected, she intends to step down as Chairman and retire from the Board by no later than the 2021 AGM o Ziggy Switkowski intends to retire from the Bo
Slide 12: Conclusion: Excitement with Integrity
CONCLUSION: EXCITEMENT WITH INTEGRITY For personal use only THE FY19 PERFORMANCE DEMONSTRATES THE COMPELLING STRATEGIC LOGIC OF THE TABCORP-TATTS COMBINATION o Tabcorp’s strength now lies in its diversified portfolio o Tabcorp entered FY20 with momentum o We are directing our efforts to deliver sust
Slide 13: For personal use only
13 13 For personal use only
Slide 14: Managing Director and Chief Executive Officer's Address
For personal use only MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER’S ADDRESS
Slide 15: A Strong and Diversified Portfolio of High Quality Businesses
A STRONG AND DIVERSIFIED For personal use only PORTFOLIO OF HIGH QUALITY BUSINESSES o Unique and attractive portfolio of businesses underpins high dividend payout ratio o Significant future upside potential o Strong and sustainable foundations 15 15
Slide 16: FY19 Results
FY19 RESULTS For personal use only VS REPORTED PCP1,2 VS PRO-FORMA PCP FY19 DIVIDEND PER SHARE REVENUE $5,482.2M UP 45.9% UP 8.7% (FULLY FRANKED) EBITDA (CONTINUING OPERATIONS BEFORE SIGNIFICANT ITEMS) $1,064.7M UP 38.4% UP 7.6% NPAT (CONTINUING OPERATIONS BEFORE SIGNIFICANT ITEMS 1,2) $397.6M UP 42
Slide 17: Lotteries & Keno (vs Pro-forma PCP)
LOTTERIES & KENO (VS PRO-FORMA PCP) 1 For personal use only RECORD RESULT; POSITIVE STEP CHANGE IN PERFORMANCE FY19 FY18 Change $m $m Revenues 2,864.9 2,332.3 22.8% EBITDA 509.0 394.9 28.9% ® ® Notes 1. Pro-forma results for FY18 include adjustments to Tabcorp’s reported results to facilitate examin
Slide 18: Wagering & Media (vs Pro-forma PCP)
WAGERING & MEDIA (VS PRO-FORMA PCP) 1 For personal use only STRATEGY FOR SUSTAINED PROFITABLE MARKET LEADERSHIP FY19 FY18 Change $m $m Revenues 2,312.2 2,397.8 (3.6%) EBITDA 416.0 451.8 (7.9%) Notes 1. Pro-forma results for FY18 include adjustments to Tabcorp’s reported results to facilitate examina
Slide 19: For personal use only
19 For personal use only
Slide 20: Gaming Services (vs Pro-forma PCP)
GAMING SERVICES (VS PRO-FORMA PCP) 1 For personal use only CREATING A SUSTAINABLE BASE FROM WHICH TO PURSUE GROWTH OPPORTUNITIES FY19 FY18 Change $m $m Revenues 304.0 315.0 (3.5%) EBITDA 139.7 152.0 (8.1%) Notes 1. Pro-forma results for FY18 include adjustments to Tabcorp’s reported results to facil
Slide 21: Outstanding People and Teams
OUTSTANDING PEOPLE AND TEAMS For personal use only Unlocking the potential of our people to deliver superb customer experiences Getting out in the field and meeting our customers face-to-face is exciting for me. There’s a great sense of accomplishment and reward when we work as a team and deliver gr
Slide 22: Conclusion: Excitement with Integrity
CONCLUSION: EXCITEMENT WITH INTEGRITY For personal use only WELL POSITIONED FOR LONG-TERM PROFITABLE GROWTH o Strong and diversified business model is delivering in a period of significant change o Lotteries & Keno has strong momentum and is well positioned to increase its share of the gambling ente
Slide 23: For personal use only
23 23 For personal use only
Slide 24: Disclaimer
DISCLAIMER For personal use only This Presentation contains summary information about the current activities of Tabcorp Holdings Limited (Tabcorp) and its subsidiaries (Tabcorp Group). It should be read in conjunction with the Tabcorp Group’s other periodic and continuous disclosure announcements lo
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