Presentation to Analysts I nterim results for the six months ended - - PowerPoint PPT Presentation
Presentation to Analysts I nterim results for the six months ended 30 June 2006 1 24th August 2006 Agenda Roger Withers - I ntroduction Avigur Zmora - Highlights Shuki Barak - Financial Review Avigur Zmora - Operating
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24th August 2006
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– Casino Revenues up 129% to $40.4 M (2005: $17.6 M) – Poker Revenues up 851% to $4.8 M (2005: $0.5 M)
* Excluding founders’ cash contribution to employees and options charge in the amount of $6.8 M
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– USA has decreased from 62% in 2005 to 49% in 2006 – Asia has increased to 20% in 2006 from 11% in 2005 – Europe has increased to 25% in 2006 from 20% in 2005
– 42 licensees operating 137 game sites (as at 30 June 2006) – 44 licensees operating 144 game sites to date
– Mobile and Videobet completed during H1 – Mahjong and other Asian games are being developed
– Playtech Bulgaria – Playtech Academy (Estonia)
* Player revenue generated
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Six months ended June 2006 $’000 2005 $’000 Change % Revenues 46,176 19,300 139
Operating Expenses* 3,174 2,105 51 Sales & Marketing* 3,692 2,690 37 Development Costs* 374 456 (18) General & Administrative* 2,474 357 593
Operating Profit* 36,464 13,692 166
Financing Income 1,076 10 10,660
I ncome before Taxation* 37,549 13,702 174
Tax Expenses 254 12 2,017
Net I ncome* 37,286 13,690 172 Basic EPS (¢)* 18 7 163 Net I ncome 30,490 13,690 123
* Excluding founders’ cash contribution to employees and options charge in the amount of $6.8 M
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45% 50% 55% 60% 65% H1-05 H2-05 H1-06 Million $ 5 15 25 35 45 Total Revenues Percentage of income from US players
Asian operators focus on World Cup
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Poker 10% Casino 87% Bingo 2% Others 1%
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10 20 30 40 50 H1-05 H2-05 H1-06 Million $ Casino Poker Others
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Europe 25% USA 49% Asia 20% Canada 4% Rest of the World 2%
*Player revenue generated
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* Player revenue generated
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capitalized 2.1 2.7 0.5 0.4 3.2 3.7 0.4 2.5
2 4 6 8 10 H1-05 H1-06
Operating Sales & Marketing Development General & Administrative
Million $
Includes provision
performance bonus
* Excluding founders’ cash contribution to employees and options charge in the amount of $6.8 M
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for distribution to the Company’s employees
– The Company accounted for this contribution as a capital contribution in accordance with generally accepted accounting principles – The Company recorded a one time charge to the P&L
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June 2006 $’000 December 2005 $’000 Current Assets
Cash and Cash Equivalents 89,857 17,995 Other Current Assets 6,452 4,526
Total Current Assets 96,039 22,521 Fixed Assets 1,460 934 I ntangible and Non-Current Assets 2,886 1,448 Total Assets 100,385 24,903 Current Liabilities 8,164 5,102 Non-Current Liabilities 24 82 Shareholders' Equity
Share Capital and Funds 55,889 132 Accumulated Profit 36,308 19,587
Total Liabilities and Shareholders’ Equity 100,385 24,903
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June 2006 $’000 June 2005 $’000 Net I ncome 30,490 13,690
Depreciation and Amortization 503 182 Founders’ Cash Contribution to Employees 6,566
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1,342 (436) Other Adjustments 11 (2)
Net Cash Provided by Operating Activities 39,142 13,434 Net cash Used in I nvesting Activities (2,537) (335) Net cash Provided by (Used in) Financing Activities 34,987 (10,171) I ncrease in Cash and Cash Equivalents 71,592 2,928 Cash and Cash Equivalents at Beginning of Period 17,995 11,298 Cash and Cash Equivalents at End of Period 89,587 14,226
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$14 M $13 M $37 M $39 M
10 20 30 40 Million $ H1-05 H1-06
Operating Profit Cash from Operations
* Excluding founders’ cash contribution to employees and options charge in the amount of $6.8 M
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targeting South America, 1 targeting North America and 1 targeting Europe
months
months from launch
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277
25
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347
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