Slide 1: ASX cover letter: Tabcorp full year results presentation
Tabcorp Holdings Limited ACN 063 780 709 5 Bowen Crescent Melbourne Australia 3004 GPO Box 1943 Melbourne Australia 3001 Telephone 61 3 9868 2100 Facsimile 61 3 9868 2300 For personal use only Website www.tabcorp.com.au 13 August 2015 To: Australian Securities Exchange Market Announcements Office 20
Slide 2: 2014/15 Full Year Results Presentation
For personal use only Tabcorp Holdings Limited ABN 66 063 780 709 2014/15 Full Year Results Presentation 13 August 2015 Draft version 15 (01-08-13)
Slide 3: FY15 overview
FY15 overview Statutory NPAT $334.5m, up 157.5%, comprising of: For personal use only NPAT from continuing operations before significant items, $171.3m, up 14.7% Net benefit from significant items after tax of $163.2m Statutory EPS 42.4 cents per share, up 146.5% EPS from continuing operat
Slide 4: Group Results
Group Results $m FY15 FY14 Change For personal use only Revenues 2,155.5 2,039.8 5.7% Variable contribution 966.7 919.5 5.1% Operating expenses (458.6) (433.4) 5.8% EBITDA from continuing operations before significant items 508.1 486.1 4.5% D&A (173.5) (164.4) 5.5% EBIT from continuing operations be
Slide 5: Business results
Business results Wagering Change Gaming Change Change Change For personal use only Keno Group $m & Media on pcp Services on pcp on pcp on pcp Revenues 1,856.9 6.9% 99.6 1.5% 199.0 (2.4%) 2,155.5 5.7% Variable contribution 757.5 7.0% 98.8 0.7% 110.4 (2.6%) 966.7 5.1% Operating expenses (381.7) 6.8% (
Slide 6: Wagering & Media: KPIs
Wagering & Media: KPIs Change Change Change For personal use only $m 1H15 2H15 FY15 on pcp on pcp on pcp Total revenue growth (including the Revenue by product Victorian Racing Industry interest) of TAB Racing 6.2% reflecting - Totalisator 663.3 (2.5%) 573.4 (1.6%) 1,236.7 (2.1%) Investment in m
Slide 7: Maintain market leadership in wagering
Maintain market leadership in wagering Increased digital integration across retail For personal use only Future Retail pilot sites live in 1H16 Focus on improved data analytics and customer insights Continued investment in digital Smooth transition to new tab.com.au Ongoing growth of mob
Slide 8: Gaming Services: KPIs
Gaming Services: KPIs $m FY15 FY14 Change Victoria For personal use only Operating revenue 98.4 95.1 3.5% 8,700 EGMs under contract Other revenue 1.2 3.0 (60.0%) 84% of base now contracted through to Revenues 99.6 98.1 1.5% 2022 (75% in FY14) EBITDA 67.6 67.0 0.9% First to market in-EGM loya
Slide 9: Building a sustainable and growing Gaming Services business
Building a sustainable and growing Gaming Services business Focus on driving venue performance For personal use only Optimal product offer, including first-to-market games Drive visitation through loyalty programs and data (340,000 members) Capital to improve customer experience in venue E
Slide 10: Keno: KPIs
Keno: KPIs For personal use only $m FY15 FY14 Change Improved customer activity in NSW and Victoria, offset by a softer Queensland Revenues 199.0 203.9 (2.4%) market (total network turnover up 2.7%) EBITDA 66.4 72.2 (8.0%) Revenue performance EBIT 47.5 51.7 (8.1%) NSW up 2.9% Venues 3,612 3,62
Slide 11: Transforming the Keno customer experience
Transforming the Keno customer experience Brand transformation to broaden appeal and For personal use only drive participation Marketing campaign launched in Victoria (June), NSW (July) and Queensland imminent Improve product offering Jackpot pooling launched in NSW and Victoria Queensland
Slide 12: Capital expenditure and investments
Capital expenditure and investments Capex trend Major capex projects For personal use only Wagering & Media 150 143 Digital strategy 133 124 Technology enhancements Future Retail Gaming Services EGMs NSW expansion Pre-commitment technology Keno Rebranded venue fit-out FY12 FY13 F
Slide 13: Key capital features
Key capital features Debt Structure For personal use only $m Bank facilities 500 1 Tabcorp Subordinated notes 400 US Private Placement 300 200 400 400 400 150 250 100 127 84 0 FY16 FY17 FY18 FY19 FY20 FY21 FY22 June 2016 bank facility refinanced in May 2015 Undrawn bank facilities of $330m at
Slide 14: Conclusion
Conclusion Business performing well and strongly positioned for future For personal use only ACTTAB acquisition completed and integration on track for FY16 Agreement in place for NSW and Victorian thoroughbred media rights Strengthened balance sheet and focus on shareholder returns Total F
Slide 15: Appendices
Appendices 1. Group results For personal use only 2. Wagering: Financial data 3. Wagering: Revenues by state and product 4. Balance sheet 5. Cashflow 14
Slide 16: 1. Group results
1. Group results $m FY15 FY14 Change For personal use only Revenues 2,155.5 2,039.8 5.7% Government taxes & levies (365.2) (349.5) 4.5% Operating commissions (260.5) (256.5) 1.6% Racing industry fees (563.1) (514.3) 9.5% Variable contribution 966.7 919.5 5.1% Operating expenses (458.6) (433.4) 5.8%
Slide 17: 2. Wagering & Media: Financial data
2. Wagering & Media: Financial data $m FY15 FY14 Change For personal use only Revenues 1,856.9 1,737.8 6.9% Taxes, levies, commissions and fees (1,099.4) (1,029.8) 6.8% Variable contribution 757.5 708.0 7.0% Operating expenses (381.7) (357.3) 6.8% EBITDA 375.8 350.7 7.2% D&A (128.6) (116.6) 10.3% EB
Slide 18: 3. Wagering: Revenues by state and product
3. Wagering: Revenues by state and product For personal use only NSW Change Vic Change ACT Change Total Change $m FY15 on pcp FY15 on pcp FY15 on pcp FY15 on pcp Racing 891.7 4.6% 401.1 3.2% 18.3 n/a 1,311.1 5.6% Sports 136.3 20.2% 40.9 8.8% 1.3 n/a 178.5 18.2% Trackside 44.4 14.1% 27.7 9.9% 0.1 n/a
Slide 19: 4. Balance Sheet
4. Balance Sheet $m Jun 15 Jun 14 Change For personal use only Total current assets 296.2 181.0 63.6% Licences 700.9 726.6 (3.5%) Other intangible assets 1,924.7 1,833.9 5.0% Property, plant and equipment 325.1 312.6 4.0% Other non current assets 137.1 51.0 168.8% Total assets 3,384.0 3,105.1 9.0% T
Slide 20: 5. Cashflow
5. Cashflow $m FY15 FY14 Change For personal use only Net operating flows 507.6 541.2 (6.2%) Net interest payments (77.8) (100.1) (22.3%) Income tax paid 2.8 (75.2) (>100%) Payments for PP&E and intangibles (131.6) (198.4) (33.7%) Sub-total 301.0 167.5 79.7% Ordinary dividends paid (127.9) (67.0) 90
Slide 21: Disclaimer
Disclaimer This Presentation contains summary information about the current activities of Tabcorp Holdings Limited (Tabcorp) and its subsidiaries For personal use only (Tabcorp Group). It should be read in conjunction with the Tabcorp Group’s other periodic and continuous disclosure announcements lo
Slide 22: For personal use only
For personal use only 21 Draft version 14 (29-07-13)