ANNUAL GENERAL ASSEMBLY

Transcription

1 ANNUAL GENERAL ASSEMBLY ANTONIOS KERASTARIS INTRALOT GROUP CEO MAY 16 TH 2018

2 GLOBAL LEADER IN THE GAMING INDUSTRY 29 Countries 52 Jurisdictions 90 Contracts 4.5 bn 5 year backlog 5,100 * Employees 24 bn Wagers 300,000 Terminals worldwide 1.1bn Revenues in *3.100 in subsidiaries and in affiliates

3 INTRALOT REVENUE MIX 68% 21% 11% LICENSED OPERATIONS TECHNOLOGY & SUPPORT SERVICES MANAGEMENT CONTRACTS

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5 BUILDING LONG-TERM VALUE INVESTMENTS IN GEOGRAPHIC REFOCUS INVESTMENTS IN NEW GENERATION TECHNOLOGY PRODUCTS INVESTMENTS IN ROBUST FINANCIAL STRUCTURE

6 GEOGRAPHIC REFOCUS ( m) 154 EBITDA 171 1% OCEANIA 9% NORTH AMERICA 11% OCEANIA 28% 18% EU 2 1% REST OF EUROPE 2% ROW 21% NORTH AMERICA 42% 21% LATIN AMERICA 10% EU 2 48% BALKANS 2011Α 16% ROW 12% LATIN AMERICA 30% BALKANS Α Shift of customers mix towards developed markets Emphasis on US market OPAP Contract renewal Divestments from Slovakia, Russia, Jamaica Investment in EUROBET Bulgaria

7 U.S. MARKET INTRALOT Inc. (US) Established in Contract Renewals last year Wyoming Arkansas Vermont Ohio Idaho 10year contract with Camelot Illinois Estimated value usd 340m 7,500 points of sale 62m Population coverage (~19%) 11% Market share of Wagers Contract period average : 7.1 years About 530 employees in Legal reforms on Sports Betting. Prospect of a new market of usd 300bn in wagers, usd 20+bn gross win

8 NEW GENERATION OF PRODUCTS Central Systems Enablers Distribution Channels LOTTERY PLATFORM Customization Modular Structure Cloud Infrastructure agnostic Multi Vendor and Best-of- Breed operators strategies BETTING PLATFORM Omnichannel Flexibility Selective Trading PULSE Customer Relations Management (CRM) Player s profile CANVAS Personalized Experience RETAIL Camera Terminals Self-service Terminals In-lane Cashless ONLINE Mobile Native apps Web pages (portals)

9 GO-TO-MARKET STRATEGY CORPORATE CLIENTS RETAILERS PLAYERS Fast games portfolio renewal Best-of-breed strategies Reduced total cost of ownership Revenues Increase Productivity gains Reliable offering to customers Personalized content Omnichannel presence Responsible Gaming

10 INVESTMENTS IN ROBUST CAPITAL STRUCTURE 8.25% 5.75% 6,0 years 3,5 years Weighted average Interest Rate 2014 Weighted average Interest Rate Average Maturity period 2014 Average Maturity period Repayment of Syndicated Loan 165m independence from the Greek Banking System Long-term funding Horizon Short-term amortization of refinancing costs

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12 FY RESULTS ( m) Revenues 1 ( m) EBITDA % +5.5% 992 1,041 1,055 1,073 1, LTM 4Q 2016 LTM 1Q LTM 2Q LTM 3Q LTM 4Q LTM 4Q 2016 LTM 1Q LTM 2Q LTM 3Q LTM 4Q ( m) GGR 1 ( m) Net Debt % LTM 4Q 2016 LTM 1Q LTM 2Q LTM 3Q LTM 4Q 9M 2016 FY Q 6M 9M FY 1 Excluding discontinued operations in Italy, Peru, Jamaica, Russia, and Slovakia

13 GEOGRAPHIC DISTRIBUTION PER COUNTRY 1,2 Broad Geographic distribution Average sovereign rating of operations in the high BBB/Baa to low A range 13.9% Azerbaijan 8.4% Argentina 2.0% Australia % Malta FY Largest Revenue Contributors ( m, %) % Other % United States 8.3% Turkey 10.3% Argentina 11.9% Azerbaijan 9.2% Australia % Malta % Other FY Largest EBITDA Contributors ( m, %) % Turkey 21.5% United States 28.3% Bulgaria 17.0% Bulgaria 1 Country Revenue and EBITDA figures include all operating and non-operating entities 2 USA metrics include also the Philippines project contribution

14 %FY17 %FY17 Revenue BROAD AND WELL-DIVERSIFIED PRODUCTS & SERVICES Lottery Sports Betting Technology Products & Services VLTs/AWPs Racing 31.6% 55.0% 8.1% 2.9% 2.4% GGR % 41.6% 15.5% 5.5% 1.4% 34 jurisdictions 400+ games in 70,000 POS 12 jurisdictions One of the largest Sportsbooks globally >30% of GGR from the Interactive market 20 jurisdictions Support of central IT systems and terminals 4 jurisdictions 40,000+ VLTs 7 jurisdictions Pari-mutuel and fixed odds on horse betting, greyhound and virtual racing 1 GGR is defined as total revenue net of payout of winnings

15 FY RESULTS PER ACTIVITY Revenues GGR EBITDA ( m) +11.4% ( m) +9.9% ( m) +5.5% 100% (12%) 213 (21%) 1, (11%) 232 (21%) y-o-y growth +1% +9% (22%) (20%) y-o-y growth +1% (34%) (27%) y-o-y growth -15% 663 (67%) 775 (68%) +14% 213 (40%) 233 (40%) +9% 48 (30%) 62 (36%) +29% 198 (38%) 230 (40%) +16% 60 (36%) 63 (37%) +5% Licensed Operations Technology & Support Services Management Contracts

16 FY RESULTS PER REGION Revenues GGR EBITDA ( m) +11.4% ( m) +9.9% ( m) +5.5% 992 1,104 y-o-y growth (22%) 252 (25%) 230 (21%) 100% +7% 295 (27%) +17% (31%) 171 (29%) y-o-y growth +6% 52 (32%) 57 (33%) y-o-y growth +10% 173 (33%) 192 (33%) +11% 87 (54%) 85 (50%) -2% 525 (53%) 579 (52%) +10% 192 (36%) 216 (37%) +13% 23 (14%) 30 (17%) +30% Europe RoW Americas

17 RECURRING REVENUE 1 Expected Revenue from Signed Contracts (% of FY) 100% 94% 85% 82% 81% 76% A 2018E 2019E 2020E 2021E 2022E Taking into account the expected option of our contracts renewal, Revenue visibility percentage increases up to 79% (till 2022) 1 Contracts Renewal have not been included

18 NET DEBT MOVEMENT ( m) Jamaica 1 : +19.4m Russia 1 : +2.9m Slovakia 1 : +1.0m Eurobet: -8.8m Net Debt 2016 Software investments Net Μ&Α Refinancing Release of collaterals All Other Net Debt 1 Amounts refer to the net cash impact of the transactions (i.e. cash consideration received/ given less cash held at the entity at the disposal/ acquisition date)

19 CAPITAL STRUCTURE Current Debt Maturity Profile Bond Existing Main Facilities Breakdown Following the successful bond refinancing in September last year, INTRALOT 500 has successfully extended its debt maturity profile INTRALOT has no material debt maturity upcoming over the next three years Drawn amounts ( m) High Yield Bonds 250.0m Bond Loan 6.75% September m Bond Loan 5.25% September 2024 Term Loans 15.0m Term Loan Nomura, up to December 2022 $8.0m Term Loan BAML, April 2022 RCF $20.0m RCF BAML, 1 year RCFs (not used) 40.0m RCF Piraeus, up to December m RCF Eurobank, up to December 2022 Οίκοι Αξιολόγησης Rating Outlook 2018 Review Status B Negative Completed B+ Stable Pending NET DEBT 1 & NET DEBT/ EBITDA 2 m, # 3.2x 2.8x 3.0x 2.1x 2.2x Net Debt/ EBITDA Net Debt B1 Negative Pending 2013A 2014A 2015A 2016A A 1 Net debt calculated as Long-term debt plus Short-term debt and current portion of long-term debt plus Financial Leases less Cash and cash equivalents 2 Calculated as Net debt divided by LTM EBITDA

20 FY15 FY16 PRO-FORMA CF EVOLUTION SHAREHOLDERS OF THE PARENT VIEW ( m) Cash &Cash Equivalents 2016 EBITDA Dividends & Fees from Partnerships WC, FX All Other Tax Maintenance CAPEX Net Interest Cash Available for investments Growth & Contract Renewals CAPEX Disposals/ Μ&Αs Refinancing Fees & Expenses Net Loan & Leases Movement Cash and Cash Equivalents , Includes cash flows from discontinued operations

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