Slide 1: Q1-2015 results and strategy update
Q1-2015 results and strategy update Group presentation June 2015
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
Slide 3: Executive summary
Executive summary Since Q2’06, 35 consecutive quarters delivering financial commitments Strategy delivering positive results despite an unfavourable economic environment: EBITDA (€m) and Ebitda margin % Leverage 355 / 360 -38% 2.9x 328 5.0x 302* 3.7x 209 3.1x 3.0x* <3.0x 114 12.4% 19.0% 22.2% 24
Slide 4: Strategy delivering positive results in a complex environment
Strategy delivering positive results in a complex environment EBITDA (€ m), EBITDA margin (%) & Leverage evolution IFRS’11 355 / 360 328 302 254 209 114 12.4% 19.0% 22.2% 21.9% 24.2% 2005 2009 2013 * 2013* 2014 Guidance Restated 2015 5.0x 3.7x 3.0x * 3.4x 3.1x <3.0x (*) Ebitda: Including the one-tim
Slide 5: 2014-15 quarterly evolution (€ M)
2014-15 quarterly evolution (€ M) 90.8 90-92 87.0 87.1 75.9 78.1 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 FQ2'15 After adoption of IFRS’11, 2015 is fully comparable with 2014 € 90.8M Q1’15 shows strong growth vs Q1’14 (+19.7%) Q1 & FQ2’15 confirm Q3 & Q4’14 trend (>87M) Key growth drivers: – Latam: str
Slide 6: Cirsa at a glance (as of March 31st)
Cirsa at a glance (as of March 31st) Four main business units: B2B Mexico (slots design / manufacturing for Dominican Rep. Spanish market & interconnectivity systems), Slots route operations, Panamá Casinos, and Bingo/Arcade halls Costa Rica Italy Colombia Sound diversification: 4 business Spain
Slide 7: Diversification: 2014 EBITDA mix by business segment & geography
Diversification: 2014 EBITDA mix by business segment & geography EBITDA by business unit (€ m) EBITDA by geography 16 (20) Other 18 5% (6%) 5% 2% 5% 16% 29% 216 328 66% Spain Colombia 100% 98 Panama Italy 30% 8% 18% Argentina TOTAL Structure B2B Bingos Casinos Slots 23% Wider Group diversification
Slide 8: Unique diversification profile in the gaming industry
Diversification summary: Unique diversification profile in the gaming industry # Countries 9 Geographical diversification # Gaming Jurisdictions 37 # Cities ~170 • Slot route operations Business # Reported business units 4 • Arcades diversification • Traditional Casinos # Gaming segments 9 • Electro
Slide 9: Strategy 2015-18 … basics remain the same
Strategy 2015-18 … basics remain the same Consistent execution of our strategy has delivered significant results in EBITDA growth (+12.5% yoy since 2005) and leverage reduction (from 5.0x 2005 to 3.1x 2014) Key strategic levers Strategic objectives Comments / Facts Focus on core Continuous EBITD
Slide 10: Slots: EBITDA (€m) and key actions
Slots: EBITDA (€m) and key actions Q1’15 98 Q1’15 Highlights: 89 • Spain’s slight -7.3% recovery does not 49 offset 2015 new tax 37 increase in Italy 25.5 23.6 2005 2009 2013 * 2014 2014 2015 (*) 2013 financial statements have been restated in accordance with IFRS 11 Ebitda: Including the one-time s
Slide 11: Casinos: EBITDA (€m) and key actions
Casinos: EBITDA (€m) and key actions +14% Q1’15 Q1’15 Highlights: 216 190 +22.9% • Strong EBITDA growth supported by steady 115 growth in all markets, 73 recent acquisitions’ 58.8 integration and 47.9 favorable FX 2005 2009 2013 * 2014 2014 2015 (*) 2013 financial statements have been restated in ac
Slide 12: Bingos: EBITDA (€m) and key actions
Bingos: EBITDA (€m) and key actions Q1’15 27 +6% Q1’15 Highlights: 17 18 +2.3x • Spain’s growth from increased visits and 10 revenues, and 8.7 operating efficiencies 3.8 • Strong performance in all our Mexican halls 2005 2009 2013 * 2014 2014 2015 (*) 2013 financial statements have been restated in
Slide 13: B2B: EBITDA (€m) and key actions
B2B: EBITDA (€m) and key actions -27% Q1’15 22 17 Q1’15 Highlights: 16 +0.6% • Kept EBITDA level under weak market 4.4 4.4 conditions -8 2005 2009 2013 * 2014 2014 2015 (*) 2013 financial statements have been restated in accordance with IFRS 11 Spain’s AWP market leadership: achieved consistent ma
Slide 14: Summary
Summary Commitment and credibility – Since 2006 management team consistently delivered, quarter after quarter, business and financial commitments – 2015 leverage target maintained 2.5x ~ 3.0x – Q1’15 (€ 90.8M, +19.7%) and FQ2´15 (€ 90-92M, +16.5%) allowing Guidance improvement to €355 / 360 M, +9%