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Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025 — International Game Technology — FY2019 Earnings Presentation
24 slides from Brightstar Lottery Plc Trading Under The Legal Name To Begin At The Market Open On July 21, 2025's earnings presentation, Mar 3, 2020
Slide 1: 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 2: Agenda
Agenda Marco Sala, CEO Strategic Update 1 Timothy Rishton, Interim CFO Q4’19 and FY’19 Results 2 Q&A 3 3
Slide 3: Agenda
Agenda Marco Sala, CEO Q419 and FY'19 .. 7 | = ] Results Timothy Rishton, Interim CFO. =
Slide 4: FY'19: Strong Finish to Year; Significant Improvement in Cash Flows
FY’19: Strong Finish to Year; Significant Improvement in Cash Flows 5 Full-year profit in top half of outlook Strong NAGI and Italy results Overcame >$130 million in headwinds Important inflection in cash flows $1.1 billion in cash from operations $651 million in free cash flow Excellent gaming prod
Slide 5: FY'19: Gaming Momentum Fueled by Top-Performing Titles
FY’19: Gaming Momentum Fueled by Top-Performing Titles 6 Double-digit replacement unit growth; +13% in North America, +63% International North American installed base stable net of Oklahoma; yields up on game performance Won international awards for “Slot Provider of the Year” and “Best Slot Game” E
Slide 6: FY'19: Sustained Growth for Global Lotteries
FY’19: Sustained Growth for Global Lotteries 7 Instants and draw games SSR up 4.5% outside Italy 6th consecutive year of >mid-single digit growth FL, MI, TX, and UK among best performers Italy wagers up on 10eLotto and core wager growth; Scratch & Win wagers in line New games and distribution strate
Slide 7: FY'20: Strengthening Global Leadership Across Verticals
FY’20: Strengthening Global Leadership Across Verticals 8 Leading provider of retail and online solutions for North American Sports Betting market Operating profit expansion planned for FY’20 Expect to fully offset new Italy taxes, weaker VLT wager trends Lower LMA incentives planned for H1’20 due t
Slide 8: 2019 Fourth Quarter and Full Year Results
2019 Fourth Quarter and Full Year Results 9
Slide 9: FY'19 Financial Highlights
FY’19 Financial Highlights Operating Income Diluted EPS/ Adj. Diluted EPS Note: Adjusted results remove impact of purchase price amortization, impairment charges, restructuring expense and transaction expense (see appendix for details) EUR/USD FX daily average: 1.12 in 2019; 1.18 in 2018 $ M Revenue
Slide 10: Q4'19 Financial Highlights
Q4’19 Financial Highlights Operating Income Diluted EPS/ Adj. Diluted EPS Note: Adjusted results remove impact of purchase price amortization, impairment charges, restructuring expense and transaction expense (see appendix for details) EUR/USD FX daily average: 1.11 in Q4’19; 1.14 in Q4’18 $ M Reven
Slide 11: Q4'19 North America Gaming & Interactive Highlights
Q4’19 North America Gaming & Interactive Highlights Revenue Key Performance Indicators Sharp increase in new & expansion units (Emerald Queen); rising ASPs Higher software and systems revenue Service revenue reflects poker site licenses executed in prior periods Yields rise on strong performance; In
Slide 12: Q4'19 North America Lottery Highlights
Q4’19 North America Lottery Highlights Revenue Key Performance Indicators Solid growth in lottery ex-jackpot activity; Lower jackpot activity impacts service and LMA Product sales up on increased GameTouch™ machine sales and instant ticket printing Operating income reflects lower jackpot activity $
Slide 13: Q4'19 International Highlights
Q4’19 International Highlights Revenue Key Performance Indicators Strong gaming machine replacement unit sales 6% lottery SSR growth on broad-based European strength Gaming service reflects conversions in prior periods and lower Interactive revenue Operating income up on gaming machine mix and lower
Slide 14: Q4'19 Italy Highlights
Revenue Key Performance Indicators Strong sports betting and commercial services revenue offsets impact of higher gaming machine taxes Lottery wagers slightly below PY Gaming wagers impacted by reduction in return to player Operating income reflects sports betting strength, nearly offsetting higher
Slide 15: Net Debt and Leverage Profile
Net Debt and Leverage Profile $ M except where noted otherwise 16 ~$380 million in debt reduction as reported; over $300 million at constant currency Leverage of 4.31x compared to 4.47x at December 31, 2018 Refinanced over $1.3 billion in 2019 extending maturities, lowering interest costs, and de-ri
Slide 16: Cash Flow Statement
Cash Flow Statement $ M except where noted otherwise $1,093 million in operating cash flow $651 million of free cash flow $234 million of minority distributions Accelerated return of capital to Lotto JV partners $164 million returned to shareholders $75 million in proceeds from sale of non-core asse
Slide 17: FY'20 Outlook
FY’20 Outlook Operating income of $740 - $790 million Depreciation and amortization of $870 - $880 million CapEx of $400 - $500 million Assumes full-year EUR/USD rate of 1.10 Does not factor any potential COVID-19 impact 18
Slide 18: FY'20 Outlook
FY’20 Outlook Operating income of $740 - $790 million Depreciation and amortization of $870 - $880 million CapEx of $400 - $500 million Assumes full-year EUR/USD rate of 1.10 Does not factor any potential COVID-19 impact
Slide 19: Appendix
Appendix 20
Slide 20: Q4'19 Income Statement (As Reported)
Q4’19 Income Statement (As Reported) $ M except where noted otherwise 21 Income Statement Q4'19 Q4'18 % Change Service revenue 968 1,029 -6% Product sales 285 237 20% Total Revenue 1,253 1,266 -1% Adjusted EBITDA 436 416 5% Operating Income 81 41 99% Interest expense, net (101) (104) Foreign exchang
Slide 21: Q4'19 Reconciliation of Non-GAAP Measures
Q4’19 Reconciliation of Non-GAAP Measures $ M except where noted otherwise 22 As Reported Q4'19 Q4'18 Net income (loss) (138) (70) Provision for income taxes 12 30 Interest expense, net 101 104 Foreign exchange loss (gain), net 102 (32) Other non-operating expense, net 4 9 Operating income 81 41 Goo
Slide 22: FY'19 Income Statement (As Reported)
FY’19 Income Statement (As Reported) $ M except where noted otherwise 23 Income Statement FY '19 FY '18 % Change Service revenue 3,861 4,046 -5% Product sales 925 785 18% Total Revenue 4,786 4,831 -1% Adjusted EBITDA 1,713 1,737 -1% Operating Income 637 647 -2% Interest expense, net (410) (417) Fore
Slide 23: FY'19 Reconciliation of Non-GAAP Measures
FY’19 Reconciliation of Non-GAAP Measures $ M except where noted otherwise 24 As Reported FY '19 FY '18 Net income (loss) 112 115 Provision for income taxes 173 189 Interest expense, net 410 417 Foreign exchange loss (gain), net (40) (129) Other non-operating expense, net (18) 55 Operating income 63
Slide 24: [Net income (loss)
[Net income (loss) Provision for income taxes Interest expense, net Foreign exchange loss (gain), net Other non-operating expense, net Operating income Good impairment Depreciation ‘Amortization - purchase accounting ‘Amptization - non-purchase accounting ‘Stock-based compensation expense Other ® ‘A
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