Slide 1: H1 2024 Trading Update
H1 2024 Trading Update 18 July 2024
Slide 2: H1 2024 Financial Summary
H1 2024 FINANCIAL SUMMARY Online back to growth with strong strategic progress, but revenues behind original plans Adjusted EBITDA expected to be approximately £35-40m behind our original plans £ millions Q2-24 Q2-23 YoY% H1-24 H1-23 YoY% Revenue UK&I Online 174 170 +3% 339 336 +1% • Q2 revenue broa
Slide 3: Debt and Liquidity
DEBT AND LIQUIDITY Stable long-term debt profile with strong liquidity headroom While leverage is temporarily elevated, we see a clear path to rapid leverage reduction to <3.5x in 2026 • May 2024 refinancing to repay Euro TLA and replace with GBP fixed rate notes has improved the debt profile: • Ext
Slide 4: Outlook and Guidance: On Track for Value Creation Plan
OUTLOOK AND GUIDANCE: ON TRACK FOR VALUE CREATION PLAN Encouraging signs of progress and clear plans to support higher profits in the second half Sticking to strategy and value creation plan, with H2-24 on track and 2025/2026 targets unchanged Driver of H1 revenue/EBITDA miss Actions taken to addres
Slide 5: Strategic Framework Overview
STRATEGIC FRAMEWORK OVERVIEW Our strategic framework provides a clear vision of what success looks like and the strategy to get there Our vision Make life more interesting Defining success Improve colleague Achieve medium-term Our goals Increase player days Promote positive play satisfaction financi
Slide 6: H1 2024 Strategic Highlights
H1 2024 STRATEGIC HIGHLIGHTS We are embarking on a total reset of the business, building evoke as a new business to create value Decisive, bold and pacy actions in H1 are showing strong early signs of success Operational ▪ New operating model implemented: delivering £30m of ▪ Hired world-class talen
Slide 7: Q2 2024 Trading – UK&I Online
Q2 2024 TRADING – UK&I ONLINE Improving trends with a return to growth in Q2 and product pipeline and customer lifecycle management improvements into the second half providing support for further acceleration of growth Q2 2024 highlights • Back to growth, and gaming +6% • Enhanced product capabiliti
Slide 8: Q2 2024 Trading – International
Q2 2024 TRADING – INTERNATIONAL Strong double-digit growth in core markets continued in Q2, offset by reduced revenues from optimise markets as we continue to focus on cash generation from those markets Q2 2024 highlights • +4% growth in constant currency, improving from +1% constant currency in Q1,
Slide 9: Q2 2024 Trading – UK Retail
Q2 2024 TRADING – UK RETAIL Challenging competitive dynamics mean revenue is behind our plan, but remains broadly stable sequentially, with clear plans in place to drive growth in the second half and beyond Q2 2024 highlights • Continued stable revenue sequentially, with a challenging comparative pe
Slide 10: H1 2024 Summary
H1 2024 SUMMARY Sticking to the strategy and investing for mid and long-term profitable growth as we reset the business High conviction in achieving medium-term targets and strong value creation ❑ Revenues improved, but behind plan, with EBITDA c.£35-40m behind plan in H1 2024 ❑ Significant scale of