Allwyn Ag · ATHEX:ALWN
Allwyn — Q3 2021 Earnings Presentation
25 slides from Allwyn's earnings presentation, Nov 24, 2021
Slide 1: Q3 & 9M 2021 Financial Results
Q3 & 9M 2021 Financial Results 24 November 2021
Slide 2: Disclaimer
Disclaimer • All drawings, artwork, and texts are the exclusive • Copyright refers to all graphics and texts of the property of OPAP S.A. The partial or total present publication duplication, copy or publication of the contents of this publication by any medium (mechanical, • The facts included in t
Slide 3: 9M 2021 Highlights
9M 2021 Highlights Financial Performance ▪ Encouraging Q3 GGR performance aided by the contribution from Online and VLTs operation ▪ Strong operating profitability across segments ▪ Solid cash position with Net Debt/Ebitda shaping at 0.9x ▪ Covid-19 containment measures getting harsher across Greek
Slide 4: Q3 & 9M 2021 Financial Review
Q3 & 9M 2021 Financial Review Pavel Mucha, Chief Financial Officer
Slide 5: Q3 2021 Overview
Q3 2021 Overview Retail back on track while online maintains leading position Revenues (GGR) EBITDA +20,3% 470 +66.7% 391 • Retail GGR close to last year 97 levels affected by increased • +66.1% on a l-f-l basis excluding 11 one-off items in both years averse for socializing. • €57.9m income related
Slide 6: 9M 2021 Overview
9M 2021 Overview Persisting growth of online coupled with retail recovery Revenues (GGR) EBITDA +15,7% +83,0% 380 1,040 • Online demonstrates strong • +70.3% on a l-f-l basis excluding 899 growth also aided by Stoiximan full one-off items in both years 25 326 consolidation • €158.7m related to the e
Slide 7: Key Quarterly Financials 2018-2021
Key Quarterly Financials 2018-2021 Q3 ’21 exceeding pre covid numbers also aided by solid online contribution Revenues (GGR) EBITDA Net Profit 132 470 441 447 175 396 394 396 384 391 96 377360369 143 328 72 113 62 109 108 57 104 105 53 49 231 87 87 88 40 40 40 86 35 36 26 180 174 70 61 10 53 16 -15
Slide 8: Revenues (GGR)
Revenues (GGR) 9M – Q3 2021 GGR analysis Last 4 quarters GGR breakdown per product & channel Casino 9M Q3 9% Lottery 38% Online Retail 21% 79% VLTs 12% 38% 27% 27% 73% +15,7% +20.3% 21% 70% 18% 9% 8% Q4’20 30% 36% 24% 76% 14% Instant & Q1’20 899 1,040 391 470 Passives 7% 7% 5% 5 138 5% 36% -28,5% 42
Slide 9: EBITDA bridge
EBITDA bridge Income Mostly due to recognition OPEX also including Stoiximan full Stoiximan full relating to the consolidation consolidation Concession extension Lower Agents’ Commissions on the 1 13 back of retail 1 operations 27 suspension 60 159 23 1 39 32 141 380 208 EBITDA GGR GGR Agents' Reven
Slide 10: Profitability (recurring figures)
Profitability (recurring figures) 9M – Q3 EBITDA* 9M – Q3 Net Profit** +66.1% 45.0% +87.3% +97.3% +70.3% 180 25.0% 37.1% 40.0% 35.1% 160 21.0% 35.0% 140 20.0% 26.9% 30.0% 15.8% 120 23.9% 25.0% 100 13.5% 15.0% 365 20.0% 165 80 15.0% 9.3% 60 10.0% 214 99 174 10.0% 40 83 105 53 5.0% 20 5.0% 0.0% 0 Q3 2
Slide 11: Cash Flow & Net Debt
Cash Flow & Net Debt Cash Flow Bridge Net Debt Increased operating profitability Strong financial position 32 85 with Net Debt at €378m* *as of 30.09.2021, excl. IFRS 16 lease liabilities 273 Kaizen Gaming acquisition ▪0.9x Net Debt / LTM related tranche and new Online licenses Ebitda Dividends paid
Slide 12: Operational & Business Update
Operational & Business Update Jan Karas, Chief Executive Officer
Slide 13: Customer offering expanded with more engaging products
Customer offering expanded with more engaging products Focus on Sportsbetting 360o campaign across channels Retail Online Unique campaigns and CRM activities leading to increased customer base during Euro Introduction of NBA official branded Virtual game Enhanced Digital campaign focusing on in-play
Slide 14: Loyalty program continues to build up
Loyalty program continues to build up Activity is growing across games, allowing for smart de-anonymization of the customer base, producing at the same time top & bottom line incrementality Base evolution (th. Players) Monthly actives & activity (th. Players) 200 46% 47% 40% 60% 42% 150 35% 37% 40%
Slide 15: OPAP Store App: A step change of retail customer experience
OPAP Store App A step change of retail customer experience New in-store app where players place bets and collect Digitalization Aligned Integrated winnings without of retail customers’ omni-channel solutions with journey experience loyalty program interaction with the cashier. 15
Slide 16: Our retail estate
Our retail estate Opap Stores Play Stores OPAP estate end of Q3’21 Greece Cyprus 3,654 200 374 171 New/upgraded Opap Stores within 9M’21 Avg. Size of New/upgraded stores 106sqm 84sqm Avg. Size of all OPAP stores Audio solution > 450 stores Digitalization Beacon installations ALL stores that enables
Slide 17: VLTs gradually returning to pre-Covid levels
VLTs gradually returning to pre-Covid levels 44 41 39 38 40 38 298 0 Performance overview 58 209 200 84 36 FY'17 FY'18 FY'19 FY'20 Q1 Q2 Q3 2021 GGR (€m) GGR / VLT / DAY (€) Weighted daily avg. of active Number of VLTs optimized VLTs – Q3’21 during Q3’21 96% of total >115 Total registered Base as of
Slide 18: Online continues to be our key growth driver
Online continues to be our key growth driver Online revenues per brand (€m) Online product mix & performance (9Μ’21 GGR) Full consolidation OPAP Stoiximan since Dec.20 Mix 3.9% Growth y-o-y* 97.0 Lottery 11% 42.4% 103 91 90 83 Casino 109% 65 53.8% 59 63 44 44 45 51 16 19 16 Betting 46% 2 2 3 4 5 10
Slide 19: Solid support of the sport community in Greece
Solid support of the sport community in Greece National Football Team “Athens Marathon” “OPAP Champions” Grand Sponsor of the biggest “OPAP ARENA” athletic brand in Greece 11 Individual athletes Venue naming rights Renewal of all our New asset - OFI FC, sponsorships with a club with a large major sp
Slide 20: OPAP Marathon
OPAP MARATHON €3,1M >320k >38k Total Contribution Total App Downloads Active Players
Slide 21: Extended CSR activity
Extended CSR activity Children Hospitals OPAP Forward Renovation of 4th and 2nd floor Advisory support to 40+ high of Athens paidiatric hospital. profile national & international Already reached 88% of total SMEs renovation scope Contribution Squad Sport Academies campaign Scientific support on medi
Slide 22: Appendix
Appendix
Slide 23: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position as of 30 September 2021 & 31 December 2020 Consolidated Statement of Financial Position ('000 € ) 30.09.2021 31.12.2020 Restated (*) Current assets Cash and cash equivalents 662,861 506,873 Receivables 93,620 68,480 Other current assets 59,266 53,775 Tota
Slide 24: Consolidated Statement of Comprehensive Income
Consolidated Statement of Comprehensive Income 30 September 2021 & 30 September 2020 Consolidated Statement of Comprehensive Income ('000 € ) 30.09.2021 30.09.2020 Δ Δ% Assets Revenue (GGR) 1,040,325 470,243 570,082 121.2% GGR contribution and other levies and duties -342,936 -147,530 -195,406 132.5
Slide 25: Consolidated Cash Flow statement
Consolidated Cash Flow statement as of 30 September 2021 & 30 September 2020 Consolidated Cash flow statement ('000 € ) 30.09.2021 30.09.2020 OPERATING ACTIVITIES Operating Activities before WCC 376,514 201,837 Assets Changes in Working Capital Inventories -1,165 -3,286 Receivables -80,964 40,910 Pa