Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025. · NYSE:BRSL
Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025 — Brightstar Lottery — Q1 2020 Earnings Presentation
28 slides from Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025's earnings presentation, May 18, 2020
Slide 1: 2020 First Quarter Results
2020 First Quarter Results Ended March 31, 2020 May 18, 2020 1
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements This presentation may contain forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning International Game Technology PLC and its consolidated subsidiaries (the “Company”) and
Slide 3: Agenda
Agenda Strategic 1 Marco Sala, CEO Update Q1’20 2 Max Chiara, CFO Results 3 Q&A 3
Slide 4: Our Thoughts Are with All Those Affected by COVID-19
Our Thoughts Are with All Those Affected by COVID-19 4
Slide 5: Q1'20: After a Strong Start, COVID-19 Led to a Rapid Shift in Focus
Q1’20: After a Strong Start, COVID-19 Led to a Rapid Shift in Focus IGT COVID-19 Crisis Management Workstreams Protect Employees Ensure Business Continuity Engage with Customers • Communicate local government • Build contingency operational • Proactive increase in engagement guidelines to ensure saf
Slide 6: Three Phases Impacting IGT's Main Markets
Three Phases Impacting IGT’s Main Markets FY 2019 Product Revenue Mix Market Barometer/Phases of Pandemic Outbreak/Health Emergency 9% • Protect people’s health and safety Lottery 43% • Stay-at-home mandates Gaming Other • Manage the business in lockdown 48% Containment/Gradual Re-Opening • Execute
Slide 7: We Took Immediate Action with Clear Priorities & Robust Continuity Plans
We Took Immediate Action with Clear Priorities & Robust Continuity Plans People Cost Initiatives Liquidity • Created a cross-functional, global • Temporary company-wide salary • Re-affirmed cash flow generation COVID-19 crisis management team reductions (including incentive and cash preservation as
Slide 8: Latest Market Insights & Implications for IGT: Gaming
Latest Market Insights & Implications for IGT: Gaming Market Insights Full global casino & Operators Social distancing Destination markets Macro impact on gaming hall lockdown significantly the new norm likely slower to discretionary for most of Q2; reducing CapEx and recover spending and re-opening
Slide 9: Latest Market Insights & Implications for IGT: Lottery
Latest Market Insights & Implications for IGT: Lottery Italy and U.S. lottery wagers held up during the global financial crisis Market Insights 5% CAGR Stay-at-home Shutdown of Macro impact on restrictions certain games in discretionary leading to some markets spending and reduced traffic to (Italy,
Slide 10: Where We Stand Today…
Where We Stand Today… The near-term outlook for IGT’s main markets remains depressed North America North America Legend (% Y/Y) Gaming Lottery International Italy (51%) – (100%) Q2’20 Market Activity Profile (21%) – (50%) H2’20 Market Activity Profile (20%) – 0% Management is focused on a thorough,
Slide 11: Assessing the Future
Assessing the Future Withdrawing prior 2020 operating Q2’20 likely the most stressed income outlook due to COVID-19 period for revenue, operating uncertainty income, and cash flow Reducing near-term cash costs to Targeting ~$500 million for FY reflect customer demand trends; 2020 OpEx/CapEx reductio
Slide 12: IGT's Fitness to Compete is Stronger in the Recovery
IGT’s Fitness to Compete is Stronger in the Recovery Adapting quickly while positioning to win in the post-COVID-19 environment • Near-term cost actions reflect current market demand trends • Structural cost initiatives/efficiencies improve competitiveness in post-COVID-19 world • Leverage investmen
Slide 13: First Quarter 2020 Results
First Quarter 2020 Results 13
Slide 14: Q1'20 Financial Highlights
Q1’20 Financial Highlights Revenue Operating Income (Loss) -18% -211% Includes $296M non-cash, goodwill impairment charge Q1’19 Q1’20 Adjusted EBITDA Diluted EPS/ Adj. Diluted EPS -26% Note: Adjusted results remove impact of purchase price amortization, impairment charges, restructuring expense and
Slide 15: Q1'20 North America Gaming & Interactive Highlights
Q1’20 North America Gaming & Interactive Highlights Key Performance Indicators Revenue % Change % Change at -18% Q1'19 Q1'20 as Reported Constant FX Revenue 240 196 -18% -18% Operating income 49 27 -45% -49% Machine Units Shipped Q1'19 Q1'20 New & expansion 1,482 36 Replacement 2,544 2,036 Total 4,0
Slide 16: Q1'20 North America Lottery Highlights
Q1’20 North America Lottery Highlights Revenue Key Performance Indicators -15% % Change % Change at Q1'19 Q1'20 as Reported Constant FX Revenue 296 251 -15% -15% Operating income 76 44 -41% -41% Same-store revenue growth Q1'19 Q1'20 Instant ticket & draw games 5.2% 1.6% Multistate jackpots -9.3% -33
Slide 17: Q1'20 International Highlights
Q1’20 International Highlights Revenue Key Performance Indicators % Change % Change at -5% Q1'19 Q1'20 as Reported Constant FX Revenue 172 164 -5% -1% Operating income 14 28 107% 121% Machine Units Shipped Q1'19 Q1'20 New & expansion 382 83 Replacement 2,593 1,525 Total 2,975 1,608 Same-store revenu
Slide 18: Q1'20 Italy Highlights
Q1’20 Italy Highlights Revenue Key Performance Indicators % Change % Change at Q1'19 Q1'20 as Reported Constant FX -25% Revenue 437 329 -25% -22% Operating income 147 85 -42% -39% €M Q1'19 Q1'20 % Growth Lotto wagers 2,142 1,713 -20.0% 10eLotto 1,544 1,189 -23.0% Core 501 420 -16.2% Late numbers 47
Slide 19: Swift Actions Deliver $500M in 2020 Cost Savings/Avoidance
Swift Actions Deliver $500M in 2020 Cost Savings/Avoidance 2020 Average Monthly Fixed/Discretionary Costs(1) 20%+ reduction Pre-COVID Run Rate ~$235M Mar-Dec CapEx Actions ~$185M 2020 • Over one-third reduction Run Rate from original Q2-Q4 Operating Expense maintenance CapEx plan 160 Actions • Cuts
Slide 20: Net Debt and Leverage Profile
Net Debt and Leverage Profile 7,714 7,382 99 41 14 177 11 7,271 7,170 (36) (108) (101) (309) $157 net cash provided by operating activities 3/31/19 12/31/19 Adjusted Interest Income Other Cash CapEx Dividends Minorities Other Before FX 3/31/20 @ 1.12 @ 1.12 EBITDA Exp. - Net Taxes from Ops. Paid (Ne
Slide 21: Ample Liquidity, No Significant Near-Term Maturities
Ample Liquidity, No Significant Near-Term Maturities $1.5 billion in cash as of 3/31/20; total available liquidity is $2.2 billion • $992 million drawn on revolving credit facilities; $743 million in additional borrowing capacity Working capital initiatives focused on A/R collections and inventory/p
Slide 22: Successfully Amended Bank Loan Facilities
Successfully Amended Bank Loan Facilities Obtained a sound degree of flexibility to allow the Company to operate safely during the heights of the pandemic Financial covenant restructuring • Leverage ratio and interest coverage ratio do not apply through Q2’21 • Minimum liquidity covenant introduced
Slide 23: Key Takeaways
Key Takeaways Resilient business model Positioned to navigate new normal • Large, geo-diversified revenue base • $500 million in 2020 cost savings • Lotteries, Italy historically acyclical • Innovative digital, systems, hardware solutions Strong liquidity position Balanced capital allocation philoso
Slide 24: Q&A
Q&A 24
Slide 25: Appendix
Appendix 25
Slide 26: Q1'20 Income Statement (As Reported)
Q1’20 Income Statement (As Reported) Income Statement Q1'20 Q1'19 % Change Service revenue 783 991 -21% Product sales 157 154 2% Total Revenue 940 1,145 -18% Adjusted EBITDA 309 417 -26% Operating (Loss) Income (197) 178 -212% Interest expense, net (101) (103) Foreign exchange 70 59 Other (3) (1) Fi
Slide 27: Q1'20 Cash Flow Statement
Q1’20 Cash Flow Statement Cash Flow Q1'20 Net Cash Flows from Operating Activities 157 • $157 million in operating cash flow CapEx (99) Free Cash Flow 58 • $58 million of free cash flow • $1,098 million in net debt proceeds Debt Proceeds/(Repayment), Net 666 Other - Net 9 Other Investing/Financing A
Slide 28: Q1'20 Reconciliation of Non-GAAP Measures
Q1’20 Reconciliation of Non-GAAP Measures As Reported Q1'20 Q1'19 Net income (loss) (234) 80 Provision for income taxes 3 53 Interest expense, net 101 103 Foreign exchange loss (gain), net (70) (58) Other non-operating expense, net 3 - Operating income (197) 178 Goodwill impairment 296 - Depreciatio