Playtech plc (PTEC) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. Thank you all for attending today. It's good to see a lot of familiar faces here. So on to slide two. I'll begin with the highlights before handing over to Chris, who will take you through the financials and the outlook. I'll then update you on our progress against our strategic priorities. Turning now to slide three. I'm pleased to report a strong performance in the first half, with adjusted EBITDA of 92 million euros, consistent with the upgraded expectations communicated in last month's trading statement. The overall performance reflects the revised terms of Caliente Interactive Agreement. We saw solid underlying growth within the B2B business. At the same time, we continue to make excellent strategic progress in core markets, in particular the Americas, where we have laid the foundations for significant growth in the US and Brazil. The disposal of Snytech, which completed in April, has bolstered our balance sheet, giving us the flexibility around capital allocation. Given the solid start to H2, we are on track to deliver fully-adjusted EBITDA for 2025 ahead of expectations. As we transition back to our roots as a pure play B2B business, the board remains confident in our ability to execute our strategy over the medium term. I will now hand over to Chris, who will take you through the financial performance and outlook. Thanks, Mark. And on to slide five, please. Before we look at the numbers, I think it's important to note the two major events that took place in the first half of this year, which are, of course, the completion of the sale of Snytech, as well as the revised terms of our agreements with Caliente Interactive taking effect. These big changes have fundamentally reshaped Playtech, and we are pleased that the financial performance...