Tabcorp Holdings Limited · ASX:TAH
Tabcorp — Shareholder Meeting (2002)
17 slides from Tabcorp's shareholder meeting presentation, 2002
Slide 1: 2002 Annual General Meeting
TABCORP TABCORP HOLDINGS HOLDINGS LIMITED LIMITED 2002 Annual General Meeting
Slide 2: Key Features
Key Features • Net operating revenue $1,933.1million – up 6.6% • Profit after tax $261.0 million – up 39.0% • Full year dividend (fully franked) 63.0 cents – up 23.4% • Dividends paid $235.3 million • Payments to Victorian racing industry $252.0 million • Taxes on gambling $770.4 million • Debt redu
Slide 3: Financial Performance – Profit after tax
Financial Performance – Profit after tax $m 300.0 261.0 250.0 187.7 200.0 174.8 143.3 150.0 121.3 100.0 50.0 0.0 1998 1999 2000 2001 2002
Slide 4: Wagering
Wagering $m Revenue PBIT Margin 500.0 403.6 363.1 380.3 20.0% 400.0 353.0 329.3 300.0 +6.1% 15.8% 200.0 15.0% 100.0 0.0 1998 1999 2000 2001 2002 11.4% 10.0% $m PBIT 75.0 63.9 52.5 43.7 47.6 5.0% 50.0 37.5 +21.9% 25.0 0.0% 0.0 1998 1999 2000 2001 2002 1998 1999 2000 2001 2002
Slide 5: Gaming
Gaming $m Revenue PBIT Margin 917.6 1,000.0 846.3 794.3 27.5% 713.2 750.0 608.7 500.0 +8.4% 25.2% 250.0 25.0% 0.0 1998 1999 2000 2001 2002 24.0% PBIT $m 230.8 250.0 22.5% 218.4 202.0 200.0 176.4 +5.7% 146.3 150.0 100.0 20.0% 50.0 1998 1999 2000 2001 2002 0.0 1998 1999 2000 2001 2002
Slide 6: Star City
Star City $m Net Revenue PBIT Margin 750.0 608.8 611.9 30.0% 586.3 500.0 25.9% 25.0% +4.4% 250.0 20.0% - 18.7% 2000* 2001 2002 15.0% $m PBIT 200.0 10.0% 158.5 150.0 114.1 112.3 +41.1% 5.0% 100.0 50.0 0.0% 2000* 2001 2002 - 2000* 2001 2002 * 2000 annualised
Slide 7: TABCORP objective and core strategies
TABCORP objective and core strategies TABCORP objective • Leading provider of leisure and entertainment services Core strategies • Organic growth of existing businesses • Invest in businesses that: – Leverage core competencies – Meet strict financial return criteria
Slide 8: Wagering: Customer service and distribution
Wagering Going Forward • Customer service • Distribution – Retail network – Account sales
Slide 9: Wagering: Customer service, distribution, other products
Wagering Going Forward • Customer service • Distribution – Retail network – Account sales • Other products
Slide 10: Gaming: Customer service, enhance venues
Gaming Going Forward • Customer service • Enhance venues
Slide 11: Gaming: Customer service and new products
Gaming Going Forward • Customer service • Enhance venues • Ensure optimum level of smoking facilities in venues • New and innovative products
Slide 12: Star City: Focus on MGF performance
Star City Going Forward • Focus on MGF performance • Build international business • Further refine Food & Beverage
Slide 13: Star City: Drive hotel revenue
Star City Going Forward • Focus on MGF performance • Build international business • Further refine Food & Beverage • Drive hotel revenue
Slide 14: Responsible Gambling
Responsible Gambling • Most adult Australians gamble • Gambling is a problem for a small group • Committed to problem gambling issues • TABCORP Responsible Gambling Code • Staff training on responsible gambling
Slide 15: First Quarter Performance Net Revenue
First Quarter Performance Net Revenue Total $492m 5.0% $468m 153 153 (0.2%) Star City Gaming 240 222 8.1% Wagering 93 99 6.3% 2001/02 2002/03
Slide 16: Gaming Revenue 2002/03
Gaming Revenue 2002/03 % change (PCP) 20.0% 15.0% 10.0% 5.0% 0.0% July August 1 Sep-19 Oct -5.0% -10.0%
Slide 17: Conclusion
Conclusion • Strong financial position – 2002 was a very good year – Strong balance sheet and cashflow • Very well equipped – Systems and infrastructure – Experienced management • Challenges – Star City - revenue growth – Gaming – impact of smoking ban • Looking forward to the future