FY 2015 Financial Results

Transcription

1 FY 2015 Financial Results Presentation March 31, 2016

2 FY15 Results Overview Comparable EBITDA up 13.6% in FY 2015 (+8.0% in 4Q15) Reported EBITDA upward by 3.5% in 4Q15, delivering an increase of 1.0% y-o-y Group Revenues up 2.2% in 4Q15; reaching a 3.3% growth in FY 2015 Cash Flow positive in 4Q 2015 ; Net debt decreased by 6.4m in 4Q Market share in Lottery Gaming Systems and Related Services maintained; 28% share in international public tenders in 2015 Significant wins /renewals in mature markets (US, Netherlands) and Africa Strategic alliance with Gamenet is a milestone in partnering with strong local players Product portfolio strategy on track: investment in Bit8; granted 21 new patents, bringing patent portfolio to 120; new interactive CANVAS platform (dynamic content management system) developed and completed Page 2 of 19

3 Yearly and Quarterly Results Graphs Revenues EBITDA Q14 1Q15 2Q15 3Q15 4Q15 NIATMI 4Q14 1Q15 2Q15 3Q15 4Q15 Net Debt 4Q14 1Q15 2Q15 3Q15 4Q M14 FY14 1Q15 6M15 9M15 FY15 Page 3 of 19

4 FY15 Results Cash Flow Operating Cash-flow excluding the impact of WC (-42.0m in 2015 and -0.6m in 2014) and cash taxes (-28.2m in 2015 and -29.0m in 2014) was 184.0m in FY 2015, practically unchanged vs Net Capex in FY15: 68.7m vs. 67.0m in FY14 Major Capex items: investments in our US new business 13.6m product development costs 11.7m R&D 18.9m. Net Debt as at 31/12/2015: 477.6m, m vs. Net Debt at 31/12/2014 ( 381.4m). Book value of bonds purchased: 48.0m as at 31/12/2015 vs 6.4m as at 31/12/2014 Net debt marginally dropped in 4Q15, due to the significantly improved cash flow generation vs. the previous quarter. Page 4 of 19

5 FY15 Consolidated Results Consolidated Financial Statements For The 12 Months Ended December 31 st, 2015 (in million) FY15 FY14 % Change 4Q15 4Q14 % Change Revenues (Turnover) 1, , % % Gross Profit % % EBITDA % % EBITDA Margin (%) 9.3% 9.5% -0.2pps 8.5% 8.4% +0.1pps EBT % EBT Margin (%) 1.3% 2.0% -0.6pps 1.4% 1.8% -0.3pps EAT (after minorities) Page 5 of 19

6 Pro-forma Analysis FY 2015 Pro-forma Analysis of FY 2015 Results Continuing Business New Business Discontinued & nonrecurring Business FX effect Published Results (in million) FY15 FY14 FY15 FY14 FY15 FY14 FY15 FY14 FY15 FY14 Revenues 1, , , ,853.2 % change 4.2% % EBITDA % change 13.6% % EBT % change % Page 6 of 19

7 Revenues Bridge , ,914.9 FY 2014 East Europe West Europe Australasia N. America S. America Africa FY 2015 Page 7 of 19

8 Cash Flow Bridge Page 8 of 19

9 Segmental Analysis

10 Contract type Sales Breakdown Operation and control over every aspect of the lottery Licensed Operations Management Contracts Day-to-day operations Marketing POS optimization Risk management Technology HW & SW Telecom solutions Maintenance Support Licensed Operations 82.5% FY 2015 Sales Breakdown Management Contracts 6.9% Technology 10.7% Licensed Operations 81.2% FY 2014 Sales Breakdown Management Contracts 7.5% Technology 11.3% Page 10 of 19

11 Revenue per Product Analysis 17.0% Revenues Growth Analysis FY15 vs FY % 8.9% 10.6% 7.0% 2.0% 0.6% 3.3% -3.0% -4.1% -8.0% -13.0% Sports Betting Numerical VLTs/ AWPs -11.3% Racing IT products & services, etc Consolidated revenues Page 11 of 19

12 Revenue per Product Contribution Revenue Analysis FY15 Racing % of total 2.8% IT products & services, etc % of total 7.6% Sports % of total 47.2% VLTs/AWPs % of total 11.1% Numerical % of total 31.3% Page 12 of 19

13 Wagers Regional Analysis FY15 40% % chg in Euro 35% 30% 27.3% 30.0% 25% 20% 18.2% 15% 15.3% 12.2% 10% 8.1% 5% 0% -5% East Europe West Europe Total Europe North America South America Asia Africa Total -0.3% -5.1% -10% Page 13 of 19

14 Wagers Contribution per region Asia 7,547 Wagers Analysis per region FY15 in Euro million Africa 222 East Europe 3,816 West Europe 5,923 South America 1,144 North America 5,704 Total Wagers 24.4bn (+12.2% y-o-y) Page 14 of 19

15 Appendix Summary Financial Statements

16 FY15 Group Income Statement Consolidated Income Statement for the 12 Months Ended December 31 st, 2015 (in million) FY15 FY14 % change Revenues 1, , % Gross Profit % Other Operating Income % OPEX % EBITDA % margin 9.3% 9.5% EBIT % Interest expense (net) Exchange differences Other EBT % Net Income after minorities n.m. Page 16 of 19

17 FY15 Group Balance Sheet (in million) FY15 FY14 Tangible Assets Intangible Assets Other Non-Current Assets Inventories Trade receivables Other Current Assets TOTAL ASSETS 1, ,355.1 Share Capital Other Equity Elements Non-Controlling Interests Total Shareholders Equity Long-term Debt Provisions/ Other Long term Liabilities Short-term Debt Other Short-term Liabilities Total Liabilities ,037.6 TOTAL EQUITY AND LIABILITIES 1, ,355.1 Page 17 of 19

18 FY15 Group Cash Flow (in million) FY15 FY14 EBT Plus/less Adjustments Decrease/(increase) of Inventories Decrease/(increase) of Receivable Accounts (Decrease)/increase of Payable Accounts Interest Paid Income Tax Paid Net Cash from Operating Activities CAPEX (Purchases) / Sales of subsidiaries & other investments Interest received Dividends received Proceeds from sales of tangible and intangible assets Net Cash from Investing Activities Cash inflows from loans Repayment of loans Bond buy-backs Repayment of Leasing Obligations Interest and similar charges paid Dividends paid Treasury shares repurchase Net Cash from Financing Activities Net increase / (decrease) in cash for the period Exchange differences Cash at the beginning of the period Cash at the end of the period Page 18 of 19

19 .A GLOBAL LEADER. YOUR LOCAL PARTNER