Playtech plc publishes 2018 FY report 

Playtech announced its full year results for the 12 month period ending December 31, 2018 delivering Euro 1.24 billion in revenues, up 54 percent Year-on-Year (YoY).

Adjusted EBITDA was Euro 343 million, up 7 percent YoY impacted by a decline in Asia but offset by the Snaitech acquisition.

Adjusted net Profit was Euro 256.2 million, up 11 percent, while Reported Net Profit was down 50 percent to Euro 123.8 million. Net cash from operations was up 26 percent to Euro 387 million.

Playtech said it expects 2019 Adjusted EBITDA in the range of Euro 390 to Euro 415 million assuming a turn around of Sun Bingo, the assumption that Asia remains stable and a Euro 20 million positive impact from IFRS 16 adopted as of 1 January 2019.

Alan Jackson, Chairman of Playtech:

“In the face of changing market dynamics Playtech achieved significant strategic and operational progress in 2018 delivering a markedly improved financial profile. The Group achieved new licensee wins in key regulated markets, the UK, Europe and Latin America. The combination of progress in regulated markets and headwinds in unregulated activity saw regulated Group revenue increase to over 80%.

“The acquisition of Snaitech and the ongoing strong performance of this business has delivered geographical diversification of the Group’s revenue profile, but more importantly delivered a leading presence in the largest, and one of the fastest growing gambling markets in Europe.

“Following shareholder engagement, I am pleased to announce our new progressive shareholder return policy. The strength of the balance sheet and cash flows allow the Board to demonstrate its confidence in the future growth of the business through both a share buyback programme and a final recommended dividend.”

Related and similar