Playtech plc (PTEC) Q4 2024 Earnings Call

Investor webinar replay

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:04.317 Firstly, I want to thank you all for attending today. 00:00:04.317 -- 00:00:08.603 It's been an exciting year for Playtech, and I'm looking forward to taking you through 00:00:08.603 -- 00:00:13.307 our performance and our plans for the future. 00:00:13.450 -- 00:00:15.813 On to slide two. 00:00:15.813 -- 00:00:20.600 I'll begin with the highlights before handing over to Chris McGuinness, our CFO, who 00:00:20.600 -- 00:00:24.247 will take you through the financials and the outlook. 00:00:24.247 -- 00:00:29.856 I will then update you on our progress against our strategic priorities and our medium-term 00:00:29.856 -- 00:00:31.438 plan. 00:00:31.438 -- 00:00:34.560 Turning now to slide three. 00:00:34.704 -- 00:00:39.031 I'm pleased to report a strong financial performance in 2024, 00:00:39.031 -- 00:00:42.436 delivering adjusted EBITDA of €480 00:00:42.436 -- 00:00:43.858 million, 00:00:43.858 -- 00:00:46.202 up 11% year-on-year 00:00:46.202 -- 00:00:50.345 and slightly ahead of previously raised expectations. 00:00:50.369 -- 00:00:55.934 This excellent performance was driven by strong momentum in the B2B division, 00:00:55.934 -- 00:01:01.380 which showed broad-based growth across our core markets and improvements in operating 00:01:01.380 -- 00:01:02.801 leverage. 00:01:02.801 -- 00:01:09.488 As a result, we grew B2B adjusted EBITDA by 22% to €222 00:01:09.488 -- 00:01:14.593 million, achieving our medium-term adjusted EBITDA target 00:01:14.593 -- 00:01:21.377 ahead of schedule, while also significantly improving our free cash flow generation. 00:01:21.723 -- 00:01:26.509 As announced last September, we signed two landmark agreements that will fundamentally 00:01:26.509 -- 00:01:29.753 transform the future of the group. 00:01:29...