Allwyn Ag · ATHEX:ALWN
Allwyn — Q1 2021 Earnings Presentation
22 slides from Allwyn's earnings presentation, May 20, 2021
Slide 1: Q1 2021 Financial Results
Q1 2021 Financial Results 20 May 2021
Slide 2: Disclaimer
Disclaimer • All drawings, artwork, and texts are the exclusive • Copyright refers to all graphics and texts of the property of OPAP S.A. The partial or total present publication duplication, copy or publication of the contents of this publication by any medium (mechanical, • The facts included in t
Slide 3: Q1 2021 Highlights
Q1 2021 Highlights Q1 2021 Financial Performance Lower but solid operating profitability despite land-based lockdown in the most part of the quarter Remarkable online growth with record high levels in activity and customer acquisition Stoiximan full inclusion in Q1 numbers Strong financial p
Slide 4: Q1 2021 Financial Review
Q1 2021 Financial Review Pavel Mucha, Chief Financial Officer [Business/Internal Use]
Slide 5: Q1 2021 Overview
Q1 2021 Overview Lockdown weighs heavily on retail but online delivers strong numbers Revenues (GGR) EBITDA -46,9% -29,0% 328 • Record Online contribution aided • -43.8% on a l-f-l basis excluding 5 by Stoiximan’s full consolidation 86 one-off income in Q1’21 174 • Retail GGR negatively impacted • €
Slide 6: Key Quarterly Financials 2018-2021
Key Quarterly Financials 2018-2021 Q1 ’21 performance materially impacted by prolonged lockdowns and social distancing measures Revenues (GGR) EBITDA Net Profit 113 132 447 109 108 441 105 104 396 394 384 391 377 360 369 88 87 87 86 328 70 62 57 61 53 49 231 40 53 40 40 35 36 180 26 174 10 16 -15 Q1
Slide 7: Revenues (GGR)
Revenues (GGR) Q1 2021 GGR analysis Last 4 quarters GGR breakdown per product & channel Casino Lottery Online Retail 8% 21% -46,9% VLTs 27% 70% 24% 3% 30% 14% 20% Q2’20* 23% 6% 76% 97% 324 7% Q3’20 7% 9% 67 174 36% 94% Instant & 5% 46% Q4’20 22% 46% 19 Passives 27% 88 36% Q1’21 47 Betting 47% 8 -59.
Slide 8: Profitability (recurring figures)
Profitability (recurring figures) Q1 EBITDA* Q1 Net Profit** -43,8% 49,6% 100 50,0% 38 50,0% 90 45,0% 45,0% 33 80 40,0% 40,0% 28 70 35,0% 35,0% 36 60 30,0% 23 30,0% 50 25,0% 18 20,4% 25,0% 86 40 20,0% 20,0% 14,8% 13 30 15,0% 15,0% 49 8 20 10,0% 10,0% 10 5,0% 3 -2 5,0% 0 0,0% -2 0,0% Q1 2020 Q1 2021
Slide 9: EBITDA bridge
EBITDA bridge Income OPEX also including Stoiximan full recognition consolidation relating to the l-f-l OPEX Stood at -14.8% y-o-y Lower direct Concession costs extension 1 4 1 3 16 45 0,2 2 86 61 65 154 42 EBITDA Q1'20 GGR GGR contribution Agents' Revenue sharing Other Operating Income related to O
Slide 10: Cash Flow & Net Debt
Cash Flow & Net Debt Cash Flow Bridge Net Debt Impacted by lower profitability and GGR contribution related Strong financial position receivables with Net Debt at €553m* 0,4 *as of 31.03.2021, excl. IFRS 16 lease liabilities 20 1 2.4x Net Debt / LTM Ebitda 507 486 (or 2.6x incl. leases) 5.6x Inter
Slide 11: Increased Online penetration evident across verticals
Increased Online penetration evident across verticals 19,9% 12,5% 4,8% 7,9% 4,2% 3,3% pre covid 1st reopening 2nd reopening 2020 2020 2021 Penetration = online / total GGR of the game 11 [Business/Internal Use]
Slide 12: Encouraging OPAP retail recovery
Encouraging OPAP retail recovery Greece 2021 v/s 2019 avg. daily performance comparison -24.4% +1.1% Gradual performance recovery towards pre covid (2019) levels Encouraging revenue generation taking into Respective week consideration the restrictions in place during 2021 in each year wk 15 wk 1
Slide 13: Operational & Strategic Update
Operational & Strategic Update Jan Karas, Chief Executive Officer [Business/Internal Use]
Slide 14: OPAP retail outlets – Q1 2021 Highlights
OPAP retail outlets – Q1 2021 Highlights OPAP Stores Digitalization Smooth reopening & ongoing support Opap stores end of New/upgraded Opap Q1’21 Stores Q1 2021 Content Management System (CMS) Greece Cyprus A holistic concentrated view of the contents ALL Opap stores opened from the 1st week 3,636
Slide 15: Back to the game!
Back to the game! Reopening comes with a solid commercial plan to welcome customers in our stores Pame Stoixima promo & New Scratch Variants content activation “21” variant distributed in all networks Initiatives in place as of 1st day of re- & areas supported with 360o opening (boosted odds, ‘B
Slide 16: New Retail Loyalty program
New Retail Loyalty program One step forward to the digitalization of retail experience Aim Bring our customers closer to us, by increasing in-store digital engagement & fully exploiting the mobile experience within the store How? Scan played slips via our popular & successful OPAPP Tiered Rewards Wh
Slide 17: Online is delivering record quarter performance
Online is delivering record quarter performance Online revenues per brand (€m) Online product mix & performance (Q1’21 GGR) OPAP Stoiximan Full consolidation 122.4 Mix Growth y-o-y* since Dec.20 3,9% 103 168 91 Lottery % 65 38,7% 59 63 44 44 45 51 10 11 16 19 2 2 3 4 5 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20
Slide 18: All times' high customer base and activity for Online
All times’ high customer base and activity for Online OPAP Customer base Stoiximan Customer base 187 203 163 140 139 143 141 140 121 121 112 121 90 103 77 52 32 11 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2019 2020 2021 2019 2020 2021 Active Players / monthly avg. ('000) Active players
Slide 19: Appendix
Appendix [Business/Internal Use]
Slide 20: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position as of 31 March 2021 & 31 December 2020 Consolidated Statement of Financial Position ('000 € ) 31.03.2021 31.12.2020 Current assets Cash and cash equivalents 486,161 506,873 Receivables 70,865 68,480 Other current assets 66,174 53,775 Total current assets
Slide 21: Consolidated Statement of Comprehensive Income
Consolidated Statement of Comprehensive Income 31 March 2021 & 31 March 2020 Consolidated Statement of Comprehensive Income ('000 € ) 31.03.2021 31.03.2020 Δ Δ% Assets Revenue (GGR) 174,189 328,312 -154,123 -46.9% GGR contribution and other levies and duties -68,559 -110,943 42,384 -38.2% Net gaming
Slide 22: Consolidated Cash Flow statement
Consolidated Cash Flow statement as of 31 March 2021 & 31 March 2020 Consolidated Cash flow statement ('000 € ) 31.03.2021 31.03.2020 OPERATING ACTIVITIES Operating Activities before WCC 58,479 82,380 Assets Changes in Working Capital Inventories -12,442 -11,100 Receivables -35,057 65,216 Payables (