Evoke Plc · LSE:EVOK
Evoke — 888 Holdings — H1 2023 Earnings Presentation
12 slides from Evoke's earnings presentation, Aug 15, 2023
Slide 1: H1 2023 Results Presentation
888 H1 2023 RESULTS DRE S ENTATION 15 AUGUST 2023 HOLDINGS
Slide 2: Agenda
AGENDA aa HOLDINGS, Topic Presenter Overview Lord Mendelsohn (Executive Chair) Financial review Yariv Dafna (CFO) Strategic update Vaughan Lewis (Chief Strategy Officer) Summary Lord Mendelsohn (Executive Chair) Q&A
Slide 3: Board Priorities
BOARD PRIORITIES rrr HOLDINGS Our priorities are unchanged from earlier in the year, and we have delivered strong progress against all of them TEAM Appointment of strong executive directors while supporting wider management team in delivering plans in place ~~ @& e Highly experienced CEO appointed t
Slide 4: Executing the Plan
EXECUTING THE PLAN teh) Creating a platform for sustainable value creation, with focus turning to “ren further operational efficiency to drive growth Evolving our position through bold M&A plan Driving sustainable value creation through execution Reported revenue (£m) Revenue >£2bn €1,788m e Robust
Slide 5: Reported to Pro Forma Results Bridge
rea REPORTED TO PRO FORMA RESULTS BRIDGE aad Reported results reflect William Hill acquisition. Pro forma results highlight = "°"™ improving profitability and mix shift of revenue to more sustainable base Reported to pro forma! Revenue bridge (£m) 15.9 6308 9433 9 349 Mill 8816 -42.6 332.1 — -19.6 H
Slide 6: H1 2023 Financial Results - Pro Forma
H1 2023 FINANCIAL RESULTS - PRO FORMA tee ; ; ; HOLDINGS Regulatory changes, market focus, and marketing approach resulting in revenue -7%, but strong synergy delivery drives Adjusted EBITDA +9% e UK Online: changing mix of the business towards lower- UK&l 615.3 634.4 spending customers, and the sho
Slide 7: Financial Focus Areas
FINANCIAL FOCUS AREAS We have clear plans to improve financial performance through realising “ren synergies, improving EBITDA margin and prioritising deleveraging SYNERGIES e HI 2023 synergies of £66m (£54m opex, £12m capex), predominantly across operations and marketing e New operating model implem
Slide 8: Outlook
GROUP SEGMENTAL OUTLOOK Unchanged revenue and Adjusted EBITDA outlook, with strong synergy delivery and marketing timing benefitting H2 Key guidance item from FY results H1 performance ae y) rers HOLDINGS Updated outlook for H2 / FY23 Unchanged but more likely to be mid-single digit © Keio mmitel Si
Slide 9: UK Online
UK ONLINE Reshaping and improving the business mix provides sustainable, and more Bae HOLDINGS profitable, base to drive growth and market share over time in the UK Higher player volumes UK Monthly average actives (000s) 1,275 874 Q1 Q2 Q3 O4/Q1 a2 a3 A4 QL a2 03 a4 QI a2 2020 2021 2022 2023 an - 1
Slide 10: Market Focus
MARKET FOCUS th}? Strong performance in Italy and Spain offset by challenges in dotcom “ren markets driven by compliance changes H1 2022 to H1 2023 revenue bridge 888AFRICA £943m 16m 19m 0m [BB Live: Kenya, Mozambique, Tanzania, Zambia -£5m Lt £882m -£56m [BB Licenced not yet live: DR Congo H1 2022
Slide 11: Delivering on Our Potential
DELIVERING ON OUR POTENTIAL te}? In H1 2023 we have already delivered clear progress against our 2023 “ren focus areas of integration, execution and deleveraging % I Integration Execution Deleveraging £66m Synergy benefit in H1-23' +9% Adjusted EBITDA growth -£68m Net Debt reduction £150m Full targe
Slide 12: Q&A
=0. DINGS Q&A PRESENTERS