Aristocrat Acquisition of VGT Presentation
NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES.
VGT adj. operating cash flow (2) (US$ million)
Strong EBITDA and cash flow conversion
VGT adj. EBITDA(1) (US$ million)
Margin (3)
58%
180
150
122
120
90
90
660
30
66%
66%
Conversion (4) 107%
180
98%
97%
157
152
149
146
150
131
120
90
60
30
0
Dec-11
Dec-12
Dec-13
0
Dec-11
Dec-12
Dec-13
Capex on
(13)
(18)
(19)
installed base
Other capex
(10)
(15)
(17)
Machine
placement
6
(9)
(7)
fees/loans(5)
Notes: Numbers may not add due to rounding
(2)
Normalised for quality of earnings adjustments and machine placement fee amortisation
Normalised for quality of earnings adjustments
Free cash flow
114
105
110
(3)
Represents adj. EBITDA / revenue
11
Conversion is adj. operating cash flow/ adj. EBITDA
(5)
Figure is a net figure and includes inflows from repayments of development loansView entire presentation