Playtech plc (PTEC) Q2 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:04.356 Good morning, everyone. Thank you all for attending today. 00:00:04.356 -- 00:00:07.900 It's good to see a lot of familiar faces here. 00:00:07.900 -- 00:00:10.680 So on to slide two. 00:00:11.083 -- 00:00:14.807 I'll begin with the highlights before handing over to Chris, who will take you through 00:00:14.807 -- 00:00:17.330 the financials and the outlook. 00:00:17.330 -- 00:00:22.413 I'll then update you on our progress against our strategic priorities. 00:00:22.495 -- 00:00:25.377 Turning now to slide three. 00:00:25.377 -- 00:00:30.363 I'm pleased to report a strong performance in the first half, with adjusted EBITDA of 00:00:30.363 -- 00:00:35.589 92 million euros, consistent with the upgraded expectations 00:00:35.589 -- 00:00:39.414 communicated in last month's trading statement. 00:00:39.414 -- 00:00:45.501 The overall performance reflects the revised terms of Caliente Interactive Agreement. 00:00:45.501 -- 00:00:50.015 We saw solid underlying growth within the B2B business. 00:00:50.015 -- 00:00:55.843 At the same time, we continue to make excellent strategic progress in core markets, 00:00:55.843 -- 00:01:01.452 in particular the Americas, where we have laid the foundations for significant 00:01:01.452 -- 00:01:05.014 growth in the US and Brazil. 00:01:05.197 -- 00:01:10.404 The disposal of Snytech, which completed in April, has bolstered our balance 00:01:10.404 -- 00:01:15.529 sheet, giving us the flexibility around capital allocation. 00:01:15.563 -- 00:01:20.648 Given the solid start to H2, we are on track to deliver fully-adjusted 00:01:20.648 -- 00:01:25.512 EBITDA for 2025 ahead of expectations. 00:01:26.094 -- 00:01:31.240 As we transition back to our roots as a pure play B2B business, the 00:01:31.240 -- 00:01:3...