Playtech plc (PTEC) Q2 2024 Earnings Call

Investor webinar replay

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.936 So, good morning, everyone. Firstly, I want to thank you all for attending today. 00:00:05.936 -- 00:00:10.619 It's been an eventful and exciting couple of weeks for Playtech. 00:00:10.741 -- 00:00:16.046 On to slide two. I'll begin with the highlights before handing over to Chris McGuinness, 00:00:16.046 -- 00:00:21.070 our CFO, who will take you through the financials and the outlook. 00:00:21.070 -- 00:00:26.213 I'll then update you on our progress against our strategic priorities. 00:00:26.235 -- 00:00:31.629 Turning now to slide three. I'm pleased to report an excellent financial performance 00:00:31.629 -- 00:00:33.672 in H1 2024, 00:00:33.672 -- 00:00:36.856 delivering adjusted EBITDA of 243 00:00:36.856 -- 00:00:40.101 million euros, up 11% 00:00:40.101 -- 00:00:42.123 and ahead of expectations 00:00:42.123 -- 00:00:46.970 as we flagged in our trading statement issued a couple of weeks ago. 00:00:46.970 -- 00:00:52.317 This strong performance was driven by the B2B division, which saw adjusted EBITDA growth 00:00:52.317 -- 00:00:57.524 of 38% with the Americas, the standout region. 00:00:57.524 -- 00:01:01.611 Given the performance in the first six months of 2024, the 00:01:01.611 -- 00:01:07.140 B2B segment is ahead of schedule to be within the medium-term 00:01:07.140 -- 00:01:11.307 adjusted EBITDA target range of 200 to 250 00:01:11.307 -- 00:01:13.711 million euros in 2024, 00:01:13.711 -- 00:01:16.596 set just 18 months ago. 00:01:16.596 -- 00:01:21.143 A couple of weeks ago, we made two announcements that will fundamentally transform the 00:01:21.143 -- 00:01:26.324 future of the Group. Starting with CaliPlay, we were delighted to finalize 00:01:26.324 -- 00:01:31.917 the terms of our revised strategic agreement that ...