![]() ![]() – Group ex-US Adjusted EBITDA of between £1.44bn – £1.6bn, with strong momentum in the UK&I and International, offset by softer than expected market conditions in Australia ![]() Assuming normalised sports results for H2, we anticipate full year Adjusted EBITDA to be broadly in line with market expectations: H2 has started in line with expectations.Net debt of £4.6bn at 30 June 2023 (31 December 2022 £4.6bn) and pro forma leverage ratio of 3.3 times (31 December 2022 3.9 times) 6.Adjusted basic earnings per share (“EPS”) of 237.5p, 144% higher than H1 2022 Reported EPS of 73.8p from loss of 64.7p in H1 2022 reflected swing to profitability in current period.Reported profit after tax of £128m (H1 2022: Loss of £112m) after £314m charge for amortisation of acquired intangibles.– Group ex-US Adjusted EBITDA +24% (pro forma +4%), strong top line momentum and the addition of Sisal, which has performed strongly in H1, partly offset by Australian tax changes – US Adjusted EBITDA of £49m ($63m) versus a £132m loss in H1 2022 Group at earnings transformation point with Adjusted EBITDA +72% to £823m (pro forma +37%).Reported revenue growth of 38% for Group, benefiting from an exceptionally strong US performance and strong momentum in UK&I and International, along with the addition of Sisal in August 2022 (pro forma revenue +24%).US listing: Working towards a listing in late Q4 2023 or early Q1 2024.Sustainability: Positive Impact Plan progressing well Play Well 9 tool usage, +7 percentage points to 42% with 34% female representation in leadership as we move closer to 2026 goal of 40%.– International (revenue +8%): Division at a growth inflection point, ‘Consolidate and Invest’ 8 markets driving performance, now comprise 77% of divisional revenue and growing at +19% – Australia (revenue -1%): Effective retention of enlarged customer base (AMPs +7%), offset by Covid spend reversion and point of consumption tax changes – UK & Ireland (revenue +13%): Product enhancements and efficient generosity underpinning recreational customer growth and driving market share gains in both sports and gaming Group ex-US: Growth through regulatory headwinds with pro forma revenue +8% and EBITDA +4%.– Improved iGaming proposition drove market share gains to 23% in Q2 – Margin benefit over the market expanded to 410bps new NBA markets further evidence of sustainable product leadership – Consolidating clear #1 position in sportsbook, with 47% market share in Q2 7 Scale advantage compounding with revenue +63% US: Reached profitability inflection point, FanDuel generated $100m (£79m) Adjusted EBITDA in H1 (US division $63m (£49m)).Group: Delivery of strategic goals drove Flutter’s growth engine strong H1 player momentum with average monthly players (“AMPs”) +28%, driven by US growth (+43%) and the addition of Sisal, which has performed strongly since joining the Group (Group pro forma AMPs +18%).See appendix 2 for a reconciliation of adjusted pro forma to statutory numbers. Pro forma references include Sisal for a full 6-month period in both 20. ![]() “It helps us to grow our profile in the US and to have local equity for doing deals,” he said.Flutter Entertainment plc (LON:FLTR) has announced interim results for six months ended 30 June 2023. He noted many of them preferred to see companies listed on their domestic stock exchanges and reporting their results according to US accounting principles. Speaking on Wednesday, Mr Jackson pointed out that a secondary New York listing would give the Irish group access to a huge pool of US investors. The loss of Flutter would come as a further blow to the Dublin market, from which long-time heavyweight, building materials group, CRH, is due to depart this year. Mr Jackson confirmed that Flutter was still attempting to find a solution to the problem, but indicated that the position had not changed much since the group first outlined the problem following its annual general meeting in April.Īt that point, its chief executive said the business could not guarantee that it could keep its Dublin listing, but emphasised that this was the preferred option. These include difficulties in dealing and settlement between the New York and Euronext Dublin markets that the gambling giant identified earlier this year. However, Mr Jackson acknowledged that it has yet to find a solution to technical problems that would prevent it remaining on the Dublin market once it has begun selling its shares on Wall Street. ![]()
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