Super Group (sghc) Limited · NYSE:SGHC
Super Group (sghc) — Q3 2024 Earnings Presentation
20 slides from Super Group (sghc)'s earnings presentation, Nov 6, 2024
Slide 1: 3Q 2024 Earnings Review
3Q 2024 Earnings Review November 6, 2024
Slide 2: Disclaimers
DISCLAIMERS Forward-Looking Statements Certain statements made in this presentation are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited
Slide 3: Agenda
Agenda 01 BUSINESS UPDATE 02 FINANCIAL HIGHLIGHTS 03 APPENDIX
Slide 4: Business Update
BUSINESS UPDATE Overview
Slide 5: Overview
OVERVIEW Strong 3Q results with the highest ever ex-US Total Revenue and Adjusted EBITDA achieved in a third quarter Continued focus of growth in key markets and the realization of cost efficiencies Outstanding performance in Africa, with focus on expansion into new and existing locally regulated ma
Slide 6: 3Q24 Highlights
3Q24 HIGHLIGHTS 3Q24 Highlights: 2 • Highest ever ex-US Total Revenue for a third quarter of €395m (13% YoY growth or 15% in cc ) • Record ex-US Adjusted EBITDA for a third quarter of €95m (52% YoY growth and margin of 24%) • Ex-US Average Unique Monthly Active Customers of 4.7m (17% YoY growth) • D
Slide 7: Africa: Major Untapped Global Gaming Opportunity
AFRICA: MAJOR UNTAPPED GLOBAL GAMING OPPORTUNITY Fully regulated with massive upside potential, requiring local knowledge, operations and expertise Africa is a massive opportunity... ...Where Super Group has a head start $5bn+ Locally licensed markets >10 7 1 Regulated live markets, with a TAM(24E)
Slide 8: Africa: Super Group Has a Strong Competitive Advantage Across the Continent
AFRICA: SUPER GROUP HAS A STRONG COMPETITIVE ADVANTAGE ACROSS THE CONTINENT Purpose-built platform and product offering, including Pan-African brand approach both sports betting and iGaming, wherever possible Podium positions in key markets Deep relationships with key regulators and telco / payment
Slide 9: Africa: A Select Number of Local Partnerships
AFRICA: A SELECT NUMBER OF LOCAL PARTNERSHIPS 9
Slide 10: US Update
US UPDATE • Exit of the US sportsbook is now complete Super Group’s Updated US Footprint: • US shutdown costs of ~€36m, €9m lower than previous estimate of €45m ◦ Includes redundancy costs, settlement of existing contracts and a maximum provision for the wind down of the sportsbook product • Ongoing
Slide 11: Net Revenue by Geography: Continued Global Diversification
1 NET REVENUE BY GEOGRAPHY : CONTINUED GLOBAL DIVERSIFICATION Key Highlights: 3Q 2023 3Q 2024 • Americas ◦ Strong casino and sportsbook growth in Canada 8% • Africa 16% 16% 17% ◦ Outstanding growth across both sports and casino ◦ Seven countries, all locally regulated ◦ Strong pipeline of new locall
Slide 12: Net Revenue by Brand and Product: Underpinned by Strong Casino Offering
1 NET REVENUE BY BRAND AND PRODUCT : UNDERPINNED BY STRONG CASINO OFFERING 3Q 2023 3Q 2024 3Q 2023 3Q 2024 19% 17% 44% 41% 56% 59% 81% 83% Online Casino Online Sports Betting 12 Charts exclude US operations 1
Slide 13: Financial Highlights
FINANCIAL HIGHLIGHTS Revenue and Profitability
Slide 14: Total Revenue (Ex-US)
1,2,3,4 TOTAL REVENUE (EX-US) 2024 Total Revenue Guidance: €1.550bn 3Q24 TOTAL REVENUE (EX-US) WAS €395M,+13% (+15% cc) YOY Guidance: Net Revenue increased +15% (+17% cc) to €389m €1,550m • The highest ever Net Revenue achieved in a third quarter 5 €1,406m • Net Revenue YoY growth of 24% when adjust
Slide 15: Adjusted EBITDA (Ex-US)
1,2 Adjusted EBITDA (EX-US) 2024 Adjusted EBITDA Guidance raised to: >€345m 3Q24 Adjusted EBITDA (EX-US) WAS €95M, +52% YOY Adjusted EBITDA Margin of 24% New Guidance: • The highest ever ex-US Adjusted EBITDA achieved in a third quarter €345m 3 Direct Expenses increased +8% to €147m: €305m €83m • Hi
Slide 16: Appendix
APPENDIX
Slide 17: Financial Results, Operating Basis (Ex-US)
1 FINANCIAL RESULTS, OPERATING BASIS (EX-US) EUR (Millions) 1Q ’24 2Q ’24 3Q ’24 1Q ’23 2Q ’23 3Q ’23 4Q ’23 September YTD 24 September YTD 23 Net Revenue (Ex-US) 366 400 389 321 364 339 341 1,155 1,024 Sports Betting 73 83 67 82 95 65 53 223 242 Online Casino 293 317 322 239 269 274 289 932 781 Oth
Slide 18: Net Revenue: Constant Currency Analysis
1 NET REVENUE: CONSTANT CURRENCY (‘CC’) ANALYSIS 3Q-24 September 24 YTD YoY % CHANGE YoY CC % CHANGE YoY % CHANGE YoY CC % CHANGE Net Revenue (Ex-US) 15% 17% 13% 16% Sports Betting 4% 4% (8)% (5)% Online Casino 17% 20% 19% 22% Other Revenue (45)% (43)% (32)% (32)% 2 Total Revenue (Ex-US) 13% 15% 12%
Slide 19: Detailed Share Count
1 DETAILED SHARE COUNT Shares (millions) Shares Issued and Outstanding 503.1 Unvested Restricted stock units granted to employees 2.8 Fully Diluted Shares 505.9 19 1 As at September 30, 2024
Slide 20: investors@sghc.com
nil Supergroup investors@sghc.com