Playtech Plc · LSE:PTEC
Playtech — H1 2008 Earnings Presentation
21 slides from Playtech's earnings presentation, Sep 3, 2008
Slide 1: Interim Results for the six months ended 30 June 2008
Interim Results for the six months ended 30 June 2008 3 September, 2008
Slide 2: Agenda
Agenda Introduction: Roger Withers, Chairman Operating review: Mor Weizer, CEO Financial review: Guy Emodi, CFO Current trading & outlook: Mor Weizer, CEO Questions & Answers 2
Slide 3: Introduction: Roger Withers, Chairman
Introduction: Roger Withers, Chairman Strong performance across all business areas Record high levels of revenue and profit The company has expanded its operations and is ready to accommodate future growth driven by Organic growth of existing licensees Migration of new licensees Evolution of new reg
Slide 4: Operating Review: Mor Weizer, CEO
Operating Review: Mor Weizer, CEO 4
Slide 5: Operational Highlights
Operational Highlights 10 new license agreements including: Betsson, Vista Global Limited (Hollywood Poker), Genting Stanley Alderney and SNAI S.R.L. Further 8 MOU’s signed to date 3 additional licensees launched since period end MOU's and agreements signed with leading Italian operators which will
Slide 6: Operational Highlights - Continued
Operational Highlights - Continued Development of Flash Poker product completed. Rollout expected by end of Q3 Established an internal new games software development unit, which will significantly increase the number of games released to Playtech licensees Exclusive licensing agreement signed with P
Slide 7: Acquisition Strategy
Acquisition Strategy Successful fund raising of $222M through placing Provides Playtech with significant fire power Good progress on potential acquisition of an affiliated company, would be earnings enhancing and strengthen market position Acquisition strategy will complement Playtech’s business mod
Slide 8: Financial Review: Guy Emodi, CFO
Financial Review: Guy Emodi, CFO 8
Slide 9: Financial Highlights
Financial Highlights Total revenues * - $81.4M, 85% increase (H1 2007: $44M) Casino Revenues * - $58M, 78% increase (H1 2007: $32.6M) Poker Revenues - $22M, 109% increase (H1 2007: $10.5M) Adjusted net profit before tax – $57.8M, 90% increase (H1 2007: $30.4M) * Including non-cash revenues of $1.8M
Slide 10: Quarterly revenues by products
Quarterly revenues by products 10
Slide 11: Revenues by Products H1 2008
Revenues by Products H1 2008 11
Slide 12: Geographic Diversification H1 2008
Geographic Diversification* H1 2008 *Player revenue generated 12
Slide 13: Profit & Loss
Profit & Loss H1 2008 H1 2007 US$000 US$000 Revenues 81,394 43,966 Operating expenses -48,597 -19,403 Operating profit before the following exceptional items 52,540 28,656 Loss of disposal available for sale invest’ (Foundation) - (654) Impairment of software acquisition (Tribeca) - (275) Amortizati
Slide 14: Adjusted Net Profit H1 2008 vs. H1 2007
Adjusted Net Profit H1 2008 vs. H1 2007 H1 2008 $’000 H1 2007 $’000 Net profit before taxation 37,918 26,069 Decline in fair value of available for sale investment (Foundation) 12,534 - Loss on disposal of available for sale investment (Foundation) - 654 Amortisation of customer list on acquisition
Slide 15: Adjusted EPS
Adjusted EPS * Excluding exceptional non-cash charges 15
Slide 16: Interim Dividend
@® playtech Interim Dividend 14,00 5 12.0¢ 12.00 - 9.9¢ 10.00 - 8.00 - 6.1¢ 6.00 - 4.00 - 2.00 - H1-07 H2-07 H1-08 Le
Slide 17: Cash Flow
Cash Flow June 2008 $’000 June 2007 $’000 Net profit 37,160 25,682 Depreciation and Amortization 4,189 2,840 Loss on disposal of available for sale investment - 654 Employees Stock Options Expenses 4,127 1,016 Impairment loss of software acquired - 275 Decline in FV of available for sale investments
Slide 18: Balance Sheet
@® playtech Balance Sheet Cash and Cash Equivalents 326,365 78,554 Investments (Foundation & ALOG) 22,003 40,917 receivables 16,407 15,885 Total Current Assets 364,775 135,356 Intangible assets (mainly Tribeca) 63,798 61,584 Fixed Assets & other non current Assets 6,557 3,941 Deferred Rev’ (Foundati
Slide 19: Current trading & Outlook: Mor Weizer, CEO
Current trading & Outlook: Mor Weizer, CEO 19
Slide 20: Current trading and outlook
Current trading and outlook Revenues in the 2 months following the period end are in line with management expectations during the seasonally quiet months of July and August Launch of 3 licensees Strong pipeline of further licensees for the second half of 2008 Focus on cross selling opportunities thr
Slide 21: Questions & Answers
Questions & Answers 21