Cirsa Enterprises, S.a.u. · BME:CIRSA

Cirsa Enterprises, S.a.u — Q1 2013 Earnings Presentation

13 slides from Cirsa Enterprises, S.a.u's earnings presentation, June 2013

  1. Slide 1: 1Q-2013 results and strategy update

    1Q-2013 results and strategy update June 2013

  2. Slide 2: Forward-looking statements

    This presentation includes forward-looking statements. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "intends", "may," "will" or "should" or, in each case, their negative, or other

  3. Slide 3: Executive summary

    Executive summary Since 2Q-06, 27 consecutive quarters delivering financial commitments Strategy delivering positive results despite economic environment in Spain & Italy: 338-343 322 EBITDA € millions 2 .8 x 290 260 193 209 164 143 114 +5.0% V (%) -7% +26% +15% +17% +8% +25% +11.5% +11.0% +6.5% 200

  4. Slide 4: Cirsa at a glance (as of March, 31st 2013)

    Cirsa at a glance (as of March, 31st 2013) Our portfolio is based on four business units: B2B (slots design & Mexico manufacturing for Spanish market), Dominican Rep. Slots route operations, Casinos, and Bingo halls & Arcades Panamá Operates 69,046 machines, 113 Italy casinos, 80 bingo halls, 476 be

  5. Slide 5: Strategy delivering positive results in a complex environment

    Strategy delivering positive results in a complex environment EBITDA (€ m) & EBITDA margin (%) Leverage (Net Debt / EBITDA) As of December 31 5.0x -2.3x 2.8x 322 290 4.3x 4.0x 3.7x 3.7x 260 3.2x 3.0x 2.7x 209 193 23.9% 164 23.1% 143 20.9% 114 19.0% 15.8% 17.7% 12.4% 14.1% 2005 2006 2007 2008 2009 20

  6. Slide 6: Diversification: 2012 Ebitda mix by business segment & geography

    Diversification: 2012 Ebitda mix by business segment & geography EBITDA by business unit (€ m) EBITDA by geography 22 26 (5) 7% (18) 8% (1%) 5% Other 2% 204 (6%) 322 Me 63% 100% 16% 24% xic o Spain Colombia Panama 93 Italy 17% 29% 13% Argentina TOTAL Structure On-line B2B Bingos Casinos Slots 22% EB

  7. Slide 7: 1Q-2013 results on track

    1Q-2013 results on track 2013 EBITDA growth guidance: +5 / +6.5% (€ 338m / € 343m) (€ Million) Slots Casinos Structure & On-line - 3.2m +5.9m +1.2m +7.2% +12.7% +12.3% -13.7% 54.0 2012 2013 48.1 23.1 -7.2 -6.0 19.9 +16.6% +12.5% 2012 2013 2012 2013 Bingos B2B Total Ebitda + 0.6m - 0.6m + +11% 3.9m +

  8. Slide 8: Strategy 2013-16 … basics remain the same

    Strategy 2013-16 … basics remain the same Consistent execution of our strategy since 2006 has delivered significant results in EBITDA growth (+16% yoy since 2005), Ebitda margin (from 12.4% 2005 to 23.9% 2012) and leverage reduction (from 5x 2005 to 2.7x 2012) 3 key strategic levers 3 strategic obje

  9. Slide 9: Slots: Ebitda (€m) and key actions

    Slots: Ebitda (€m) and key actions - 6.0% 1Q’13 97 99 93 89 88 93 1Q13 Highlights: • Discontinuation of 1,506 underperforming slot 56 machines in Spain - 13.7% 37 • Italy’s performance impacted by VLT’s tax 23,1 19,9 increase (+100 bp on drop from 2012 to 2013, 2005 2006 2007 2008 2009 2010 2011 201

  10. Slide 10: Casinos: Ebitda (€m) and key actions

    Casinos: Ebitda (€m) and key actions + 18.1% 1Q’13 204 1Q13 Highlights: 173 142 • Growth in revenues (+7.3%) and EBITDA 115 + 12.3% (+12.3%) driven by 80 87 operating efficiencies 73 68 54 and the expansion of 48 existing halls 2005 2006 2007 2008 2009 2010 2011 2012 2012 2013 Key initiatives across

  11. Slide 11: Bingos: Ebitda (€m) and key actions

    Bingos: Ebitda (€m) and key actions + 43.8% 1Q’13 31 1Q13 Highlights: 27 26 25 • EBITDA growth driven by good 18 18 performance in + 8.3% Mexico, Italy and 10 10 efficiency plans in 6,5 7,0 Spain 2005 2006 2007 2008 2009 2010 2011 2012 2012 2013 Spain Macroeconomics and smoking ban still impacting o

  12. Slide 12: B2B: Ebitda (€m) and key actions

    B2B: Ebitda (€m) and key actions + 8.2% 1Q’13 21 22 1Q13 Highlights: 18 17 16 - 9.8% • Sales mix change (kits vs full 6,9 6,2 machines) and >50% 0 market share key to offset market -5 demand weakness -8 2005 2006 2007 2008 2009 2010 2011 2012 2012 2013 Spain’s AWP market leadership: consistent marke

  13. Slide 13: Summary

    Summary Commitment and credibility – Since 2006 management team consistently delivered, quarter after quarter, business and financial commitments – 2013 Ebitda guidance of +5/6.5% vs. 2012 – 1Q13 +5.1% V, on track to achieve guidance Current strategy, based on profitable growth, business consolidati

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