Tabcorp Holdings Limited · ASX:TAH
Tabcorp — Shareholder Meeting (October 2017)
22 slides from Tabcorp's shareholder meeting presentation, Oct 27, 2017
Slide 1: Tabcorp Holdings Limited Annual General Meeting
TABCORP HOLDINGS LIMITED ANNUAL GENERAL MEETING 27 OCTOBER 2017
Slide 2: Chairman's Address
CHAIRMAN’S ADDRESS Tabcorp
Slide 3: Tabcorp Today
TA B C O R P T O D AY WAGERING & MEDIA KENO GAMING SERVICES 3
Slide 4: FY17: An Important Year
F Y 1 7 : A N I M P O R TA N T Y E A R o Significantly progressed our combination with Tatts Group, expected to be completed by the end of 2017 o Ongoing execution of multi-channel strategy o Launched our UK start-up, Sun Bets o Acquired and integrated Intecq, adding scale and capability to TGS o Se
Slide 5: Group Results
G R O U P R E S U LT S 1 $M FY17 FY16 CHANGE NPAT before significant items 178.9 185.9 (3.8%) Significant items (after tax)2 (199.7) (16.2) >100% Statutory NPAT (20.8) 169.7 (>100%) 1. Results include 7 months contribution from Intecq from December 2016. 2. Significant items (after tax) of $199.7m c
Slide 6: Tabcorp and Tatts to Combine to Create a World-Class Diversified Gambling Entertainment Group
TA B C O R P A N D TAT T S T O C O M B I N E T O C R E AT E A W O R L D - C L A S S , D I V E R S I F I E D G A M B L I N G E N T E R TA I N M E N T G R O U P 50 An ASX50 company More than A$5 billion Expected to deliver at $50 million p.a. of Complementary in annual revenue1 least $130 million p.a.
Slide 7: Developments in Gambling Regulation
DEVELOPMENTS IN G A M B L I N G R E G U L AT I O N o Tabcorp has welcomed recent developments in the regulation of gambling • Amendments to the Interactive Gambling Act make it clear that online betting on live sport is illegal • The offering of credit to customers by corporate bookmakers will end i
Slide 8: Board of Directors
BOARD OF DIRECTORS Bruce Akhurst and Vickki McFadden formally commenced as Non-Executive Directors on 1 July 2017 and are standing for election today. Jane Hemstritch is retiring from the Board today. 8
Slide 9: Tabcorp Plays an Integral Role in the Industry
TABCORP PLAYS AN IN TEGR AL ROLE IN TH E IN D U STRY $1.26 BILLION OF TAXES AND RACING INDUSTRY FUNDING IN FY17 9
Slide 10: Conclusion
CONCLUSION o FY17 was a strategically important, but challenging year • Invested in core businesses • Strengthened risk and compliance capability • Our business is now stronger and more resilient o Our priority remains the successful completion of the Tatts combination 10
Slide 11: Managing Director and Chief Executive Officer's Address
MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER’S ADDRESS
Slide 12: Group Results
G R O U P R E S U LT S 1 $M FY17 FY16 CHANGE Revenue 2,229.6 2,188.7 1.9% Variable contribution 1,006.3 984.5 2.2% Operating expenses (502.2) (468.7) 7.1% EBITDA before significant items 504.1 515.8 (2.3%) D&A (178.7) (178.6) 0.1% EBIT before significant items 325.4 337.2 (3.5%) Interest (68.3) (69.
Slide 13: Wagering & Media: KPIs
WA G E R I N G & M E D I A : K P I s $M FY17 FY16 CHANGE Revenue 1,873.0 1,873.0 0.0% EBITDA 350.0 382.1 (8.4%) EBIT 228.0 252.2 (9.6%) Note: Wagering & Media results have been prepared on a statutory basis and exclude the impact of the UK start-up, Sun Bets, that has been treated as a significant i
Slide 14: Wagering & Media: FY Initiatives
WA G E R I N G & M E D I A : F Y 1 7 I N I T I AT I V E S o Continued investment in digital transformation “We’re particularly • Successful roll-out of digital commission model to excited with the retail venue partners with effect from October 2016 direction Tabcorp is • Check & Collect – allowing c
Slide 15: Gaming Services: KPIs and Highlights
GAMING SERVICES: KPIs AND HIGHLIGHTS $M FY17 FY16 CHANGE Revenue 143.9 107.2 34.2% EBITDA 82.1 70.1 17.1% EBIT 47.9 41.0 16.8% o Further geographic expansion of Gaming Services with the acquisition of Intecq and signing of Panthers Group o TGS • Approximately 10,650 EGMs under contract (VIC 8,700; N
Slide 16: Keno: KPIs and Highlights
KENO: KPIs AND HIGHLIGHTS $M FY17 FY16 CHANGE Revenue 212.7 208.5 2.0% EBITDA 72.0 70.3 2.4% EBIT 49.5 50.7 (2.4%) o Ongoing transformation driving growth of 3.6% o Revenue performance • VIC up 9.4% • NSW up 4.7% • QLD down 2.4% o Further progress on key strategic initiatives • Jackpot pooling now i
Slide 17: Our People and Culture
O U R P E O P L E A N D C U LT U R E INTEGRITY ALWAYS CUSTOMER FIRST WIN-WIN PARTNERSHIPS EXCELLENCE 17
Slide 18: Making Tabcorp a Great Place to Work
M A K I N G TA B C O R P A G R E AT P L A C E TO WORK Tabcorp was the only gambling company to be recognised by the Workplace Gender Equality Agency as an Employer of Choice for Gender Equality in FY17.
Slide 19: 1Q18 Trading Performance
1Q18 TRADING PERFORMANCE Revenue 1Q18($M) 1Q17($M) CHANGE ON PCP Wagering & Media 481.5 460.9 4.5% Gaming Services 41.4 28.0 47.8% Keno 54.8 57.9 (5.3%) Sun Bets 1.1 1.0 5.3% Group Revenue 578.8 547.8 5.7% Notes: Unaudited. Wagering revenue excludes the VRI’s interest in the Joint Venture. 19
Slide 20: FY18 Priorities
FY18 PRIORITIES o Complete proposed combination with Tatts Group in 2017, integration planning well advanced o Continue to drive performance in our core businesses o Ensuring the highest levels of regulatory compliance across all of our businesses o Disciplined management of operating expenses and c
Slide 21: Disclaimer
DISCLAIMER This Presentation contains summary information about the current activities of Tabcorp Holdings Limited (Tabcorp) and its subsidiaries (Tabcorp Group). It should be read in conjunction with the Tabcorp Group’s other periodic and continuous disclosure announcements lodged with the Australi
Slide 22: To Advance the Way We Play
TO ADVANCE THE WAY WE PLAY RACING Tabcorp
Tabcorp Holdings — Shareholder Meeting (October 2017) on 6ix