Flutter Results Presentation Deck
International
Pro forma £m
Average monthly players ('000s)
Sportsbook stakes
Sportsbook net revenue margin
Sports revenue
Gaming revenue
Total revenue
Cost of sales
Cost of sales as a % of net revenue
Gross profit
Sales & marketing costs
Contribution
Other operating costs
Adjusted EBITDA
Adjusted EBITDA margin
Depreciation and amortisation
Adjusted operating profit
Flutter
FY 2021
1,901
1,592
8.7%
220
1,068
1,288
(392)
30.4%
897
(335)
562
(270)
292
22.7%
(52)
240
FY 2020
1,938
1,368
8.5%
180
1,285
1,465
(365)
24.9%
1,100
(279)
822
(248)
574
39.2%
(50)
524
YOY
-2%
+16%
+20bps
+22%
-17%
-12%
+7%
+550bps
-19%
+20%
-32%
+9%
-49%
-1,650bps
+4%
-54%
YOY CC
+21%
+20bps
+26%
-13%
-8%
+12%
+530bps
-14%
+27%
-28%
+9%
-46%
-1,580bps
+6%
-51%
Revenue -8%:
-
Challenging comparatives due to Poker spike in
Q2'20
Compliance changes post TSG merger and
regulatory changes in Germany/Netherlands
Underlying H2 growth in casino +25% offset by
poker decline -17%
Cost of sales % increase reflects change in
regulated mix and increased casino along
with new German taxes from 1 July 2021
Sales and marketing increase from:
Betfair LATAM investment
Addition of Junglee
Spend to revitalise PokerStars
Direct casino customer acquisition
Other opex includes investment to
stabilise operational capabilities
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