Evoke Plc · LSE:EVOK
Evoke — Debt Investor Presentation (April 2023)
21 slides from Evoke's debt investor presentation, Apr 14, 2023
Slide 1: FY2022 Results Presentation
888 FY2O22 RESULTS DRE S ENTATION 14 APRIL 2023 HOLDINGS
Slide 2: Agenda
AGENDA ee}? HOLDINGS © Update on key changes Financial review Yariv Dafna (CFO) since our capital . . : ; markets day Strategic review Vaughan Lewis (Chief Strategy Officer) © Outline the financial Q&kA results for FY2022 e Update on progress against our strategic plans e Provide a trading update an
Slide 3: Financial Review
FINANCIAL REVIEW YARIV DAFNA, CFO
Slide 4: Board Priorities
BOARD PRIORITIES We have clear priorities and plans to strengthen the business and enable it to deliver on its potential TEAM Appointment of strong executive directors while supporting wider management team in delivering plans in place Pw ESG Our ambition is to be one of the most trusted operators i
Slide 5: Compliance Update
COMPLIANCE UPDATE yy) cers Investigation complete into Middle East VIP suspensions; remedied failings, "°°" with robust policies and procedures in place; no further impacts expected Enhancing sustainability through compliance action e Compliance and safer gambling is a critical Board priority e Sign
Slide 6: Reported to Pro Forma Results Bridge
REPORTED TO PRO FORMA RESULTS BRIDGE tee To improve clarity around the underlying trends, pro forma numbers “ren include the results of William Hill pre acquisition, and exclude bingo Reported to pro forma! Revenue bridge (£m) Reported to pro forma! Adjusted EBITDA bridge (£m) 630.9 1,850.1 94.4 310
Slide 7: FY2022 Financial Results - Pro Forma
FY2022 FINANCIAL RESULTS - PRO FORMA tee We saw strong growth in the retail business as it lapped prior year “ren closures, offset by online headwinds, notably UK safer gambling measures a Ee ° Lapping tough comparators with lockdown driven online migration across major markets UK&l 1,236.3 1,235.6
Slide 8: Financial Focus Areas
FINANCIAL FOCUS AREAS We have clear plans to improve financial performance through realising “ren synergies, improving EBITDA margin and prioritising deleveraging SYNERGIES e Accelerated synergy delivery and upgraded target of £150m by 2025, with £111m expected in 2023 e Synergies of £25m delivered
Slide 9: Debt Structure
DEBT STRUCTURE the? Long-term debt structure that is hedged against FX and interest rate risk = "°"® Effective exposure Maturity profile’ Interest rates £508m é1im 2023 2024 2025 2026 2027 2028 MTLA(€) =TLB(S) !\Fixed notes (€) "Floating notes (€) = WH Bonds (£) = Fixed = Floating = GBP =EUR USD e E
Slide 10: Q1 2023 Trading Update
Q1 2023 TRADING UPDATE th}? Q1 revenue of £446m with good underlying volumes offset by UK safer “ren gambling impacts and suspension of Middle East VIPs Q1 2023 Trading Update FY23 Guidance 312 -2% 304 1% driven by focus on core and growth markets, UK&I 306 expansion of recreational base in the UK a
Slide 11: FY2025 Financial Targets
FY2025 FINANCIAL TARGETS th}? Reaffirmed FY2025 financial targets, delivering strong shareholder returns = "°°" while building the platform for future growth Refined strategic focus on a smaller number of key markets, Revenue >£2bn with clear targets to drive greater market share and build sustainab
Slide 12: Strategic Review
STRATEGIC REVIEW VAUGHAN LEWIS, CHIEF STRATEGY OFFICER
Slide 13: Strategic Framework
STRATEGIC FRAMEWORK saat Clear strategic focus areas as we build the platform for future success “ren Disciplined capital allocation and more streamlined and profitable business to generate strong returns Market A clear plan to create a more efficient and Integration focus effective business to real
Slide 14: Market Focus - Core
MARKET FOCUS - CORE Strong performance in Italy and Spain offset by challenges in the UK, th}? HOLDINGS primarily related to significant impact of player safety measures UK ONLINE e Maintained strong player activity and growing market share based on actives, particularly in gaming! e Revenue trend i
Slide 15: Market Focus - Other
MARKET FOCUS - OTHER Regulated market launches support our growth market strategy, with profitability focus supported by optimise markets GROWTH OPTIMISE e Launched 888 on a locally regulated e Optimised brand strategy by market basis in Ontario in Apr-22 rolled out through H2 following completion e
Slide 16: Key Enablers - Product and Content
KEY ENABLERS - PRODUCT AND CONTENT ae. Consistent product delivery alongside integration work Revenue upside potential from combination Improved #BuildYourOdds Section8 in-house studio continues to develop top quality games bet builder with leg 888 a = that we plan to rollout to William Hill, includ
Slide 17: Key Enablers - World Class Brands
KEY ENABLERS - WORLD CLASS BRANDS >>) 8 casino poker Pro forma online marketing THE ratio SPORTSBOOK [Acie THAT WROTE 23.1% THE BOOK | ON SPORTS. | H1-21 H2-21 H1-22 H2-22
Slide 18: Key Enablers - Customer Excellence
KEY ENABLERS - CUSTOMER EXCELLENCE éxy) Tyre Customer focus driving efficiency, as well as continuous improvement in “eens player activity and satisfaction Delivering top quality customer experience... Rolling 12m Customer NPS Focus on brilliant basics and improving customer journeys is driving impr
Slide 19: Sustainability
SUSTAINABILITY Our approach to ESG and sustainability is fundamental to our long-term aae HOLDINGS growth ambitions, as we continue to build the business into a global leader PLAYERS e >500,000 third-party financial vulnerability checks carried out the UK © >2.7 million customer interactions underta
Slide 20: Summary
SUMMARY Executing on clear plans to realise our potential H1 2022 POSITION Transformation of business to create a large scale business, with leading positions in key regulated markets Strong potential constrained by high leverage and below average EBITDA margins H2 2022 delivering on our PLAN Integr
Slide 21: Q&A
=0. DINGS Q&A PRESENTERS