Slide 1: Flutter Entertainment Q2 2024 Earnings Presentation
FLUTTER ENTERTAINMENT Q2 2024 Earnings Presentation 13 August 2024
Slide 2: Disclaimers
Disclaimers Disclaimers Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect our current expectations as to future events based on certain assumptions and include any st
Slide 3: Strategic Delivery Q2 2024
STRATEGIC DELIVERY Q2 2024
Slide 4: Q2 2024 Group Highlights
Strategic Delivery Q2 2024 GROUP HIGHLIGHTS Average Monthly Revenue Adjusted EBITDA2 Free Cash Flow3 Adjusted EPS4 Players1 +17% +20% +17% +$266m +56% Q2 23 Q2 24 Q2 23 Q2 24 Q2 23 Q2 24 Q2 23 Q2 24 Q2 23 Q2 24 14.3m $3.6bn $738m $171m $2.61 Includes +$0.51 in Q2 2024 relating to FOX option charge G
Slide 5: US Highlights
Strategic Delivery US HIGHLIGHTS Continued US market leadership and profit growth Q2 2023 Q2 2024 Year-on-year growth +27% 3,466 Average Monthly 2,731 Players (‘000s)1 +39% 1,526 1,527 Revenue ($m) 1,097 +51% 260 Adjusted 172 EBITDA ($m)2 17.0% Adjusted 15.7% EBITDA2 margin (%) 5
Slide 6: Strategic Delivery: US
Strategic Delivery STRATEGIC DELIVERY: US Evidence of continued returns on US investment #1 Online sportsbook5 • Extended #1 position during Q2 and iGaming brand • Strong North Carolina launch; 59% Q2 NGR share 47% • Attractive paybacks within 24-month guardrails • Compelling investment opportunity
Slide 7: Strategic Delivery: US Product
Strategic Delivery STRATEGIC DELIVERY: US PRODUCT Building on our lead in sports betting iGaming strategy delivering results • Product improvements supporting • #1 iGaming brand5 in the US AMP1 growth and structural margin • 4 ppt increase in market share year- improvements over-year • Proportion of
Slide 8: Group Ex-US Highlights
Strategic Delivery GROUP EX-US HIGHLIGHTS Strong AMP and revenue growth driven by continued product innovation Q2 2023 Q2 2024 Year-on-year growth Average Monthly +15% 10,879 9,490 Players (‘000s)1 +10% 1,903 2,084 1,904 Revenue ($m) Adjusted EBITDA ($m)2 461 460 479 478 +4% 24.2% 23.0% Adjusted EBI
Slide 9: Strategic Delivery: Group Ex-US
Strategic Delivery STRATEGIC DELIVERY: GROUP EX-US Italian share gains led by product innovation • Launched Same Game Parlay for Sisal: first for Italian market, nearly 20% of Euro 2024 stakes • New SuperEnalotto lottery app and expanded casino content • Record online market share6 for Sisal in Q2 (
Slide 10: Financial Highlights
Financial review FINANCIAL HIGHLIGHTS 3 months ended 30 June • US: Strong revenue performance with sportsbook Revenue Adjusted EBITDA +41% and iGaming +47%. Adjusted EBITDA2 +51% from $m 2024 2023 YoY 2024 2023 YoY revenue growth combined with sales & marketing efficiencies US 1,527 1,097 +39% 260 1
Slide 11: Full Year Financial Guidance
Financial review FULL YEAR FINANCIAL GUIDANCE • Revenue range of $6.05bn - $6.35bn (previously $5.8bn - $6.2bn) US • Adjusted EBITDA2 range of $680m - $800m (previously $635m - $785m) • Revenue range of $7.85bn - $8.15bn (previously $7.65bn - $8.05bn) Group • Adjusted EBITDA2 range of $1.69bn - $1.8
Slide 12: Appendices
APPENDICES
Slide 13: Group Income Statement
Appendices GROUP INCOME STATEMENT 3 months ended 30 June $m 2024 2023 Revenue 3,611 3,001 Cost of sales (1,835) (1,491) Gross profit 1,776 1,510 Technology, research and development expenses (216) (176) Sales and marketing expenses (746) (667) General and administrative expenses (445) (445) Operatin
Slide 14: Group and Group Ex-US Adjusted EBITDA Reconciliation
Appendices GROUP AND GROUP EX-US ADJUSTED EBITDA RECONCILIATION 3 months ended 30 June $m 2024 2023 Net income 297 64 Add back: Income taxes 53 86 Other income, net (89) (10) Interest expense, net 108 82 Depreciation and amortization 272 304 Share-based compensation expense 59 64 Transaction fees an
Slide 15: Group Adjusted Earnings Per Share Reconciliation
Appendices GROUP ADJUSTED EARNINGS PER SHARE RECONCILIATION 3 months ended 30 June $m 2024 2023 Diluted earnings per share to Flutter shareholders 1.45 0.37 Add/ (Less): Transaction fees and associated costs 0.09 0.09 Restructuring and integration costs 0.12 0.14 Amortization of acquired intangibles
Slide 16: Group Net Debt Reconciliation
Appendices GROUP NET DEBT RECONCILIATION As at $m 30 June 2024 31 December 2023 Long-term debt 6,737 7,005 Long-term debt due within one year 53 51 Total Debt 6,790 7,056 Add: Transaction costs, premiums or discount included in the carrying value of debt 61 54 Less: Unrealized foreign exchange on tr
Slide 17: Group Free Cash Flow Reconciliation
Appendices GROUP FREE CASH FLOW RECONCILIATION 3 months ended 30 June $m 2024 2023 Net cash provided by operating activities 323 41 Less cash impact of: Purchases of property and equipment (28) (31) Purchases of intangible assets (40) (36) Capitalized software (84) (69) Free cash flow 171 (95) 17
Slide 18: Footnotes
Appendices Footnotes 1 Average Monthly Players (“AMPs”) is defined as the average over the applicable reporting period of the total number of players who have placed and/or wagered a stake and/or contributed to rake or tournament fees during the month. This measure does not include individuals who h
Slide 19: US International UK & Ireland Australia
US International UK & Ireland Australia
Slide 20: =lutter
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