03/09/2023 | Press release | Distributed by Public on 03/09/2023 01:03
Click here to download a PDF of the full announcement
9 March 2023
Entain plc
("Entain" or the "Group")
Strong Group performance with underlying EBITDA1,3up 13% at £993m
Continued strategic diversification driving sustainable growth
Entain plc (LSE: ENT),the global sports betting, gaming and interactive entertainment Group, is pleased to announce its results for the year ended 31 December 2022.
Key Highlights:
Financial Highlights:
Jette Nygaard-Andersen,CEO of Entain, commented:
"We made excellent financial, operational and strategic progress during 2022, and took significant strides towards our goal of being the global leader in betting, gaming and interactive entertainment. I am particularly proud that Entain leads our industry on responsible gaming and we are now the only global operator exclusively in domestically regulated or regulating markets. It is a mark of the strong progress we have made in executing our sustainable growth strategy, and we continue to see a vast array of opportunities around the world as we expand into the $170bn addressable market that we have identified.
We have a business model that is truly diversified across more than 40 territories, a platform that gives us demonstrable competitive advantages, and a total commitment to providing our ever-broadening customer base with a safe environment in which to enjoy our products and services. These factors, combined with the strong underlying momentum across our business, mean that we continue to look to the future with confidence."
Group |
Reported1 |
|||
Year ended 31 December |
2022 |
2021 |
Change |
CC2 |
£m |
£m |
% |
% |
|
Net gaming revenue (NGR) |
4,348.9 |
3,886.3 |
12% |
10% |
Revenue |
4,296.9 |
3,830.0 |
12% |
11% |
Gross profit |
2,714.7 |
2,435.8 |
11% |
|
Underlying EBITDAR3 |
1,008.5 |
898.8 |
12% |
|
Underlying EBITDA3 |
993.2 |
881.7 |
13% |
|
Underlying operating profit4 |
541.8 |
484.1 |
12% |
|
Underlying profit before tax4 |
321.8 |
527.3 |
||
Profit after tax |
32.9 |
275.6 |
||
Diluted EPS (p) |
6.3 |
44.7 |
||
Continuing adjusted diluted EPS5 (p) |
60.5 |
53.8 |
||
Continuing adjusted diluted EPS excl US5 (p) |
93.2 |
81.1 |
||
Dividend per share (p) |
17.0 |
- |
Dividend
In line with the dividend policy announced with the H1 Results in August 2022, the Board proposed a total dividend for 2022 of £100m. This is to be paid to shareholders in equal instalments with H1 and FY results. As such, a second interim dividend of £50m (8.5p share) will be paid to shareholders on 27 April 2023.
Outlook
The Group has delivered strong 2022 results, reflecting the diversity and scale of the business, and the strength and competitive advantage of our unique platform.
As we look to 2023, while we continue to face some regulatory headwinds, we remain excited by the opportunities ahead. As we continue to deliver on our strategy we will provide customers with even more innovative and engaging moments of excitement, and drive further diversification through geographic expansion, product development and a broader customer base. We have started 2023 with positive underlying momentum and we remain confident in our long-term strategic prospects.
Notes
Note: Retail operates in UK, Italy, Belgium, Croatia and Republic of Ireland. During 2022, there was an average of 4,310 shops in the estate, compared to an average of 4,540 in the same period last year.
Enquiries:
Presentation and webcast
The Full Year 2022 Results presentation for analysts and investors will be held today, Thursday 9th March at 9:00am GMT.
Participants may join via webcast or by conference call dial in, approximately 15 minutes ahead of the event.
Live webcast link: https://kvgo.com/IJLO/Entain_2022-Full_Year_Results
To participate in the Q&A, please also connect via the conference call dial in details:
UK +44 (0) 330 551 0200
US +1 786 697 3501
Access Code: Quote Entain when prompted by operator
The presentation slides will be available on our website shortly before the event: https://entaingroup.com/investor-relations/results-centre/
A replay of the presentation and transcript will be available on our website:
https://entaingroup.com/investor-relations/results-centre/
Upcoming dates:
Q1 Trading Update: 18 April 2023
2023 Interim results: 10 August 2023
Forward-looking statements
This document contains certain statements that are forward-looking statements. They appear in a number of places throughout this document and include statements regarding our intentions, beliefs or current expectations and those of our officers, directors and employees concerning, amongst other things, results of our operations, financial condition, liquidity, prospects, growth, strategies and the business we operate. These forward-looking statements include all matters that are not historical facts. By their nature, these statements involve risks and uncertainties since future events and circumstances can cause results and developments to differ materially from those anticipated. Any such forward-looking statements reflect knowledge and information available at the date of preparation of this document. Other than in accordance with its legal or regulatory obligations (including under the Market Abuse Regulation (596/2014), the Listing Rules, the Disclosure Guidance and Transparency Rules and the Prospectus Rules), the Company undertakes no obligation to update or revise any such forward-looking statements. Nothing in this document should be construed as a profit forecast. The Company and its directors accept no liability to third parties in respect of this document save as would arise under English law.
About Entain plc
Entain plc (LSE: ENT) is a FTSE100 company and is one of the world's largest sports betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports brands include BetCity, bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds, Sportingbet, Sports Interaction and SuperSport; Gaming brands include Foxy Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and PartyCasino. The Group owns proprietary technology across all its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis.
The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and iGaming in the US. Entain provides the technology and capabilities which power BetMGM as well as exclusive games and products, specially developed at its in-house gaming studios. The Group is tax resident in the UK and is the only global operator to exclusively operate in domestically regulated or regulating markets operating in over 40 territories.
Entain is a leader in ESG, a member of FTSE4Good, the DJSI and is AA rated by MSCI. The Group has set a science-based target, committing to be carbon net zero by 2035 and through the Entain Foundation supports a variety of initiatives, focusing on safer gambling, grassroots sport, diversity in technology and community projects. For more information see the Group's website: www.entaingroup.com
LEI: 213800GNI3K45LQR8L28