Super Group (sghc) Limited · NYSE:SGHC
Super Group (sghc) — FY2021 Earnings Presentation
23 slides from Super Group (sghc)'s earnings presentation, Apr 13, 2022
Slide 1: 2021 Earnings Review
2021 Earnings Review April 2022
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation contains forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve significant risks and uncertainties. All statements other
Slide 3: Our Vision / Our Winning Hand
Our Vision To provide first-class entertainment to the worldwide betting and gaming community Our Winning Hand World-wide focus …to reach as many customers as possible Global sports brand and multi-brand casino …to drive global awareness Data-driven …to make the best possible decisions in real time
Slide 4: 2021 Super Group Overview
2021 Super Group Overview Providing first-class entertainment to the worldwide betting and gaming community for over 20 years Single-brand online sportsbook $1.5bn $358m • Global footprint & market share Net Gaming Revenue1 Adjusted EBITDA1 • Strategic partnerships with teams and leagues worldwide •
Slide 5: Executing on Our Growth Strategy
Executing on Our Growth Strategy Strong Q4 Operating and Financial Continued Engagement with Key Brand Performance Partners Positive Regulatory Momentum Launched in More International Markets Now Live in Six U.S. States Continued Investment in Technology and Data Analytics to Drive Outsized Performa
Slide 6: Continued Momentum in 2021
Continued Momentum in 2021 Adjusted Free Cash GGR NGR Flow EBITDA $2.1bn $1.5bn Conversion $358m $2.1bn €1.8bn $1.5bn €1.3bn $358m 83% ($) €302m €1.8bn €1.3bn €302m 82% (€) YoY +16% +29% +41% (2%) (€)1 Note: Euros is the functional and reporting currency of Super Group. Converted at the average dail
Slide 7: Driven by our Globally Diversified Operations
Driven by our Globally Diversified Operations 2021 NGR Contribution of Betway & Spin 2021 NGR by Geography RoW 20% Spin 51% 49% Betway Europe 12% 52% Americas 17% Africa 7 Note: Figures calculated utilizing Euro figures to show underlying business performance.
Slide 8: Q4 Business Highlights
Q4 Business Highlights $366m ~50/50 $79m ~22% Net Gaming Revenue1 Betway & Spin NGR Split Adjusted EBITDA1 Adjusted EBITDA Margin 2021 Quarterly Financials1 $408m $366m of NGR in Q4 driven by strong customer acquisition, $362m $366m 1 engagement and retention worldwide $349m $79m of Adjusted EBITDA
Slide 9: Exceeding Both NGR and Adjusted EBITDA Forecasts
Exceeding Both NGR and Adjusted EBITDA Forecasts 2021 Guidance €1.23bn Net Gaming Revenue (NGR) 2021 Actual €1.26bn Equivalent to previously presented $1.5bn NGR and $350m Adj. EBITDA at original forecasting FX rate (1.22) 2021 Guidance €288m Adjusted EBITDA 2021 Actual €302m Note: Euros is the func
Slide 10: With Strong and Efficient Free Cash Flow Conversion
With Strong and Efficient Free Cash Flow Conversion Super Group generates strong free cash flow conversion that directly benefits our shareholders Adjusted EBITDA Less: Interest Expense Debt-free balance sheet with no financing obligations Less: Tax Expense Super Group is domiciled in a low-tax juri
Slide 11: Super Group Re-affirms its Guidance
Super Group Re-affirms its Guidance • Super Group utilizes Euros as its functional and reporting currency and will be forecasting in Euros going forward • Despite re-affirming guidance Super Group is cognizant that current market conditions and political instability may have an unforeseen effect on
Slide 12: We Expect to Close the DGC Transaction in H2
We Expect to Close the DGC Transaction in H2 • Super Group has executed a binding, definitive agreement to acquire US-based Digital Gaming Corporation (“DGC”), subject to regulatory approvals and other customary closing conditions with completion expected in the latter half of H2 • DGC is live in 6
Slide 13: Continued Expansion of Geographic Footprint
Continued Expansion of Geographic Footprint 2021 Highlights • Launch of Betway and Spin brands in 9 new regulated markets including France and Tanzania for Betway and Mexico for Spin1 • DGC launched the Betway brand in 5 US states: CO IA IN PA NJ 2022 To Date • Launch of the Betway brand in Bulgaria
Slide 14: Backed by Key Sponsorship Agreements
Backed by Key Sponsorship Agreements Super Group signed 30+ key sponsorship agreements in 2021 with 9 further agreements penned in 2022 2021 Sponsorship Agreements 2022 Sponsorship Agreements to Date Super Group signed 30+ key sponsorship agreements with Tier 1 Continued momentum in 2022 with 9 key
Slide 15: Investment Summary
Investment Summary ✓Global reach and scale ✓Unique mix of high growth and profitability ✓Premium, global brand ✓Asset-light business model ✓Data-driven, customer-centric digital business ✓Control of best-in-class technology ✓Financial flexibility with solid balance sheet 15
Slide 16: Appendix
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Slide 17: Quarterly Build
Quarterly Build (EUR in millions) 1Q20 2Q20 3Q20 4Q20 2020 1Q21 2Q21 3Q21 4Q21 2021 Net Gaming Revenue 204 243 246 279 973 300 339 296 320 1,255 Other Revenue1 12 12 15 16 55 17 17 17 19 70 Total Revenue 217 255 261 295 1,028 317 356 313 339 1,325 Direct Expenses (76) (87) (89) (98) (350) (113) (121
Slide 18: 2021 Net Gaming Revenue (NGR) Bridge
2021 Net Gaming Revenue (NGR) Bridge €1,321m €73m €1,255m (€8m) €1m NGR Pro-forma Group Consolidation Audit Adjustments Other Revenue F-20 Revenue 18
Slide 19: 2021 EBITDA Bridge
2021 EBITDA Bridge €315m €16m €302m (€2m) (€14m) €289m €16m €3m (€7m) Adj. EBITDA Transaction Pro-forma Unrealised FX Adj. F-20 EBITDA Transaction Loss / Profit on Loss / Profit F-20 EBITDA charges relating to consolidation charges relating to sale of business on derivatives SEAH combination1 SEAH c
Slide 20: Reconciliation to Financial Statements in F-20 – NGR
Reconciliation to Financial Statements in F-20 – NGR (in millions) FY2021A Earnings Presentation NGR (EUR) €1,255 (-) Pro-forma Group Consolidation (8) (+) Audit Adjustments 1 (+) Other Revenue1 73 F-20 Revenue €1,321 Note: Excludes DGC and investment in the U.S. 1. Differs from ‘Other Revenue’ in q
Slide 21: Reconciliation to Financial Statements in F-20 – EBITDA
Reconciliation to Financial Statements in F-20 – EBITDA (in millions) FY2021A Adj. EBITDA (EUR) €302 (-) Transaction charges relating to SEAH combination1 (2) (-) Pro-forma Group consolidation (14) (+) Unrealised FX 3 Adj. F-20 EBITDA €289 (-) Transaction charges relating to SEAH combination1 (7) (+
Slide 22: Detailed Pro Forma Share Count
Detailed Pro Forma Share Count Total Capitalization Shares (m) Super Group pre-closing holders1 458.7 Conversion of SEAC common stock2 20.2 Conversion of SEAC Founder Shares3 11.3 Shares issued and outstanding 490.2 Additional Securities Shares (m) Assumption of SEAC warrants4 (strike price: $11.50)
Slide 23: I Supe
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