Ainsworth Game Technology Limited · ASX:AGI
Ainsworth Game Technology — Shareholder Meeting (November 2021)
35 slides from Ainsworth Game Technology's shareholder meeting presentation, Nov 25, 2021
Slide 1: Ainsworth Game Technology Ltd ASX announcement
Ainsworth Game Technology Ltd ABN 37 068 516 665 10 Holker Street, Newington NSW 2127 Tel: +61 2 9739 8000 www.agtslots.com 25 November 2021 ASX Market Announcements Office Exchange Centre 20 Bridge Street Sydney NSW 2000 ELECTRONIC LODGEMENT 2021 Annual General Meeting (AGM) Addresses to Shareholde
Slide 2: 2021 Annual General Meeting Addresses: Chairman
Ainsworth Game Technology Ltd ABN 37 068 516 665 10 Holker Street, Newington NSW 2127 Tel: +61 2 9739 8000 www.agtslots.com.au 25 November 2021 ASX Release ASX Code: AGI AINSWORTH GAME TECHNOLOGY LIMITED 2021 ANNUAL GENERAL MEETING ADDRESSES NON-EXECUTIVE CHAIRMAN (Presented by Mr Danny Gladstone) L
Slide 3: Chairman's address: international revenue and operations
International markets contributed $120.5 million in revenue for FY21, representing 76% of the group’s total revenue. This delivered an improved performance overall with the second half representing $67.6 million, up 28% on the first half. Recurring revenues continue to grow, accounting for 28% of to
Slide 4: CEO address
I would like to close by thanking my fellow directors, our highly capable executive team in Australia and the Americas, as well as our dedicated and loyal employees, my fellow shareholders and of course, our customers. I will now hand over to Harald to provide his CEO address. CHIEF EXECUTIVE OFFICE
Slide 5: CEO address: regional performance
Assets on participation were up 17% to 2,712. Participation and lease revenue increased by 66% year on year, and now contribute a greater share of overall regional revenue at 44% (32% in FY20). Following the close of the financial year, AGT completed a cash sale to Kentucky Downs of 400 machines pre
Slide 6: CEO address: product development and financial model
The commitment to employing the best talents available to drive effective and efficient product development is critical to our success. To enhance our efforts in this area and as Danny outlined, we welcome David Bollesen as our new Chief Product Officer. David commenced on 7 October this year and ha
Slide 7: Annual General Meeting
ANNUAL GENERAL MEETING AINSWORTH GAME TECHNOLOGY LIMITED 25 November 2021
Slide 8: Questions and comments by shareholders at the AGM
Annual General Meeting 25 November 2021 Questions and comments by shareholders at the AGM ❑ In accordance with the Corporations Act, shareholders will be given a reasonable opportunity at the Meeting to ask questions or make comments. Shareholders will similarly be provided a reasonable opportunity
Slide 9: Questions and comments by shareholders at the AGM (continued)
Annual General Meeting 25 November 2021 Questions and comments by shareholders at the AGM (continued) 2. To ask a question via telephone conference call : - Dial the designated phone number and advise you wish to join the “Ainsworth AGM”. - Provide operator with your name and shareholder number. - O
Slide 10: Voting process during the AGM
Annual General Meeting 25 November 2021 Voting process during the AGM ❑ Voting using the Lumi Platform during the Meeting: • Step 1: Visit https://web.lumiagm.com/392853039 • Step 2: Enter username (SRN or HIN) and password (postcode or country code). • Step 3: When the poll is open, the vote icon w
Slide 11: Agenda
Annual General Meeting 25 November 2021 AGENDA 1. Welcome 2. Introduction to Board of Directors 3. Chairperson’s Address 4. Chief Executive Officer’s Address 5. Formal Business 6. Other Business 5
Slide 12: Board of Directors
Annual General Meeting 25 November 2021 Board of Directors • Significant scale, footprint and excellent market reputation. • Re-evaluation and focus on investment in R&D to drive growth. • Achieve growth opportunities in established and new markets. • Disciplined M&A strategy to drive earnings growt
Slide 13: Chairperson's Address
Annual General Meeting 25 November 2021 • Significant scale, footprint and excellent market reputation. Chairperson’s Address Presentation by • Re-evaluation and focus on investment in R&D to drive growth. Danny Gladstone • Achieve growth opportunities in established and new markets. • Disciplined M
Slide 14: Results Summary
Annual General Meeting 25 November 2021 Results Summary 6 months to 6 months to 12 months to 12 months to A$m 30 Dec 2020 30 Jun 2021 30 Jun 2021 30 Jun 2020 Revenue 72.1 87.4 159.5 149.4 Adjusted EBITDA 1.1 14.4 15.5 5.8 Impairment losses (before tax) 29.2 12.5 41.7 16.1 Loss before tax excluding c
Slide 15: Gaming Operations and International Sales Contribution
Annual General Meeting 25 November 2021 Gaming Operations and International Sales Contribution 9
Slide 16: Operating Costs
Annual General Meeting 25 November 2021 Operating Costs 12 months to 30 Jun 2021 12 months to 12 months to Change constant 30 Jun 2021 30 Jun 2020 (%) A$m currency basis COGS 74.0 70.0 59.0 (19%) Sales, service and marketing ('SSM') 50.2 46.2 59.3 22% R&D 34.8 33.4 41.2 19% Administration • 19.9 Sig
Slide 17: Land Based Gaming Products
LAND BASED GAMING PRODUCTS
Slide 18: Key Market Highlights
Annual General Meeting 25 November 2021 Key Market Highlights Americas Australasia • HHR Growth - More than 1,000 units placed in • Strong installs of Player’s Paradise Grand in Kentucky, Virginia and Alabama. major markets of New South Wales and Queensland • MTD Acquisition led to 150 additional Ga
Slide 19: Balance Sheet
Annual General Meeting 25 November 2021 Balance Sheet As at 30 Jun As at 30 Jun A$m 2021 2020 As at 30 Jun As at 30 Jun Debt Ratios 2021 2020 Total assets 393.1 465.5 Debt Ratio (Total Liabilities/Total Assets) 26.76% 23.82% Net assets 287.9 354.6 Debt to Equity Ratio (Total Liabilities/Total 36.54%
Slide 20: Cash Flow Statement
Annual General Meeting 25 November 2021 Cash Flow Statement As at 30 Jun As at 30 Jun A$m Change 2021 2020 • Strong cash flows, along with effective management of operational expenses, resulted in an increase of Net cash from operating activities 22.2 16.7 5.5 60% cash held at the reporting date Pro
Slide 21: Chief Executive Officer's Address
Annual General Meeting 25 November 2021 • Significant scale, footprint and excellent market reputation. Chief Executive Officer’s Address Presentation by • Re-evaluation and focus on investment in R&D to drive growth. Harald Neumann • Achieve growth opportunities in established and new markets. • Di
Slide 22: Reconciliation: Loss Before Tax to EBITDA & Underlying EBITDA
Annual General Meeting 25 November 2021 Reconciliation: Loss Before Tax to EBITDA & Underlying EBITDA (1) In FY21, the Group recognised impairment losses of $9.0m (FY20: $3.4m) predominantly relating to the recognition of expected credit losses in trade receivables. The increase in impairment losses
Slide 23: Segment Result Summary – North America
Annual General Meeting 25 November 2021 Segment Result Summary – North America Change North America H1FY21 H2FY21 FY21 FY20 (%) Revenue A$m 41.0 47.5 88.5 72.1 23% Segment EBITDA A$m 18.6 32.2 50.8 36.8 38% Segment profit A$m 12.3 26.8 39.1 25.3 55% Sales volume units 876 827 1,703 1,430 19% Game Op
Slide 24: Segment Result Summary – Australia
Annual General Meeting 25 November 2021 Segment Result Summary – Australia Change Australia H1FY21 H2FY21 FY21 FY20 (%) Revenue A$m 19.2 19.8 39.0 28.3 38% Segment EBITDA A$m 3.3 2.1 5.4 4.7 15% Segment profit A$m 1.6 0.8 2.4 0.4 500% Sales volume units 568 597 1,165 713 63% • Improved performance f
Slide 25: Segment Result Summary – Latin America
Annual General Meeting 25 November 2021 Segment Result Summary – Latin America Change Latin America H1FY21 H2FY21 FY21 FY20 (%) Revenue A$m 4.8 13.5 18.3 42.0 (56%) Segment EBITDA A$m (5.4) 1.1 (4.3) 23.8 (118%) Segment profit A$m (10.2) 1.6 (8.6) 2.3 (474%) Sales volume units 111 514 625 1,404 (55%
Slide 26: Segment Result Summary – Rest of the World (ROW)
Annual General Meeting 25 November 2021 Segment Result Summary – Rest of the World (ROW) Change ROW H1FY21 H2FY21 FY21 FY20 (%) Revenue A$m 7.1 6.6 13.7 7.0 96% Segment EBITDA A$m 3.5 3.6 7.1 3.2 122% Segment profit A$m 3.2 3.4 6.6 2.8 136% Sales volume units 165 159 324 87 272% • Increased revenue,
Slide 27: Profit & Loss summary
Annual General Meeting 25 November 2021 Profit & Loss summary • Increased revenue due to recovery in North 12 months to 12 months to America and Australia and Rest of the World. A$m Change (%) 30 Jun 2021 30 Jun 2020 • Increased domestic revenue compared to pcp. Domestic revenue 39.0 28.3 38% ✓ Incr
Slide 28: Outlook
_ OUTLOOK .*
Slide 29: Outlook / Conclusion
Annual General Meeting Title 25 November 2021 Outlook / Conclusion • AGT’s momentum in the second half of the last financial year has continued into FY22. • Revenue for H1FY22, is expected to be ahead both the prior corresponding period and the previous six months. AGT expects to deliver a profit be
Slide 30: Formal Business
Annual General Meeting 25 November 2021 • Formal Business Significant scale, footprint and excellent market reputation. • Re-evaluation and focus on investment in R&D to drive growth. • Achieve growth opportunities in established and new markets. • Disciplined M&A strategy to drive earnings growth.
Slide 31: Financial Statements and Reports
Annual General Meeting 25 November 2021 Financial Statements and Reports To receive and consider the Annual Financial Report, including the Director’s and Auditor’s Reports in resect of the financial year ended 30 June 2021. • Significant scale, footprint and excellent market reputation. Julie Clear
Slide 32: Resolution 1: Re-election of Mr. Colin John Henson
Annual General Meeting 25 November 2021 Resolution 1 Re-election of Mr. Colin John Henson, as Director To consider, and if thought fit, to pass the following resolution as an ordinary resolution: “That Mr. Colin John Henson,• whoSignificant retiresscale, footprint and excellent in accordance with Ru
Slide 33: Resolution 2: Approval of Remuneration Report
Annual General Meeting 25 November 2021 Resolution 2 Approval of Remuneration Report To consider, and if thought fit, to pass the following resolution as an ordinary resolution: • Significant scale, footprint and excellent market reputation. “That the Remuneration Report for the Company required by
Slide 34: Other Business
Annual General Meeting 25 November 2021 • Significant scale, footprint and excellent market reputation. OTHER BUSINESS • Re-evaluation and focus on investment in R&D to drive growth. • Achieve growth opportunities in established and new markets. • Disciplined M&A strategy to drive earnings growth. 2
Slide 35: Ainsworth Game Technology
AINSWORTH GAME TECHNOLOGY 10 Holker St, Newington NSW www.agtslots.com
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