Flutter Results Presentation Deck
Group outlook provides future financial flexibility
Pro forma for
Tombola &
Sisal
£'m, leverage ratio¹
Gross debt
Cash (excl. customer balances)
Net debt
LTM pro forma Adjusted EBITDA
Leverage ratio
LTM pro forma Group ex-US
Adjusted EBITDA
Leverage ratio (ex US losses)
Borrowing
TLA (GBP)
TLB (USD)³
TLB (EUR)
Flutter
31 December
2021
3,599
(952)
2,647
1,001
2.6x
£1,018m
$2,931m
€507m
1,244
2.1x
Tombola
(Acquired
Jan 2022)
402
402
37
37
Principal
Interest rate
Debt structure at 31 December 2021
Sisal
(Expected
Q2 2022)
1,621
211
211
GBP SONIA +175bps, 0% Floor²
USD LIBOR +225bps, 0% Floor
EURIBOR +250bps, 0% Floor
3,599
(550)
4,670
1,249
3.7x
1,492
3.1x
Maturity
2025
2026
2026
Leverage 2.6x at 31 December 2021
Leverage excluding US losses of 2.1x,
provides flexibility to acquire Sisal given
expected US profitability in 2023
Weighted average cost of debt remains at
2.5%, following refinancing in July 2021
Current credit ratings are Ba1/BB+/BBB-,
all ratings have stable outlook4
¹ Sisal FY 2021 EBITDA and acquisition cost as per acquisition announcement. Tombola as per final 2021 result. Gross debt includes the gross value of derivatives.
2 Pricing effective from January 2022, reflecting the cessation of LIBOR, plus a market benchmark credit spread adjustment.
3 USD TLB is swapped into GBP and EUR at fixed rates. 18
4 Moody's/S&P/ Fitch.View entire presentation