Flutter Results Presentation Deck
Divisional EBITDA reshaped over last two years
Pro forma
UK & Ireland Online
UK & Ireland Retail
UK & Ireland
Australia
International
Corporate costs
Group ex-US
US
Group
Online ex-US
Group
Flutter
FY
2021
626
(10)
616
437
292
(101)
1,244
(243)
1,001
28%
17%
Adjusted EBITDA (£m)
FY
2020
FY
2019
492
629
2
76
630
568
318
161
574
574
(121)
(133)
1,401
1,170
(170)
1,231
(82)
1,089
Adjusted EBITDA %
32%
32%
23%
26%
Yo2Y CAGR
CC
12%
4%
+64%
-24%
-10%
+5%
+79%
-2%
-4pp
-9pp
●
●
Online ex-US EBITDA margin of 28%, 4pp
lower due to International investment and
challenging comparatives
Excellent operating leverage in Australia
Total synergies £113m, ahead of £90m
expectation. On track for £170m in 2023
Group ex-US other operating costs (incl.
Corporate) remain controlled, in-line YoY
US loss increased to £243m with marketing
costs doubling to £663m, driving significant
customer acquisition
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